NMCO vs. BATEX
Compare and contrast key facts about Nuveen Municipal Credit Opportunities Fund (NMCO) and BlackRock Allocation Target Shares Series E Portfolio (BATEX).
NMCO is managed by Nuveen. It was launched on Apr 18, 2019. BATEX is managed by BlackRock. It was launched on Aug 3, 2014.
Performance
NMCO vs. BATEX - Performance Comparison
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NMCO vs. BATEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NMCO Nuveen Municipal Credit Opportunities Fund | 6.43% | 4.18% | 13.64% | -4.19% | -25.66% | 26.98% | -11.55% | 2.16% |
BATEX BlackRock Allocation Target Shares Series E Portfolio | -0.39% | 3.22% | 4.74% | 6.45% | -14.23% | 8.28% | 5.77% | 1.88% |
Returns By Period
In the year-to-date period, NMCO achieves a 6.43% return, which is significantly higher than BATEX's -0.39% return.
NMCO
- 1D
- 0.95%
- 1M
- -1.65%
- YTD
- 6.43%
- 6M
- 1.82%
- 1Y
- 7.40%
- 3Y*
- 4.68%
- 5Y*
- 0.59%
- 10Y*
- —
BATEX
- 1D
- 0.51%
- 1M
- -2.17%
- YTD
- -0.39%
- 6M
- 0.76%
- 1Y
- 1.94%
- 3Y*
- 3.68%
- 5Y*
- 0.78%
- 10Y*
- 2.99%
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NMCO vs. BATEX - Expense Ratio Comparison
NMCO has a 0.04% expense ratio, which is lower than BATEX's 0.11% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
NMCO vs. BATEX — Risk / Return Rank
NMCO
BATEX
NMCO vs. BATEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Credit Opportunities Fund (NMCO) and BlackRock Allocation Target Shares Series E Portfolio (BATEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| NMCO | BATEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.67 | 0.29 | +0.37 |
Sortino ratioReturn per unit of downside risk | 0.95 | 0.44 | +0.51 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.10 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.90 | 0.43 | +0.47 |
Martin ratioReturn relative to average drawdown | 2.43 | 1.09 | +1.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NMCO | BATEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 0.29 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.14 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.51 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.59 | -0.57 |
Correlation
The correlation between NMCO and BATEX is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
NMCO vs. BATEX - Dividend Comparison
NMCO's dividend yield for the trailing twelve months is around 7.70%, more than BATEX's 4.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NMCO Nuveen Municipal Credit Opportunities Fund | 7.70% | 8.04% | 6.79% | 5.96% | 6.65% | 4.75% | 5.57% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% |
BATEX BlackRock Allocation Target Shares Series E Portfolio | 4.70% | 5.01% | 3.74% | 2.98% | 5.41% | 3.29% | 3.50% | 3.80% | 4.75% | 2.88% | 0.98% | 0.13% |
Drawdowns
NMCO vs. BATEX - Drawdown Comparison
The maximum NMCO drawdown since its inception was -42.03%, which is greater than BATEX's maximum drawdown of -19.90%. Use the drawdown chart below to compare losses from any high point for NMCO and BATEX.
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Drawdown Indicators
| NMCO | BATEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.03% | -19.90% | -22.13% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -7.14% | -1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -39.82% | -19.90% | -19.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.90% | — |
Current DrawdownCurrent decline from peak | -11.48% | -2.45% | -9.03% |
Average DrawdownAverage peak-to-trough decline | -16.19% | -4.08% | -12.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.80% | +0.46% |
Volatility
NMCO vs. BATEX - Volatility Comparison
Nuveen Municipal Credit Opportunities Fund (NMCO) has a higher volatility of 3.52% compared to BlackRock Allocation Target Shares Series E Portfolio (BATEX) at 1.45%. This indicates that NMCO's price experiences larger fluctuations and is considered to be riskier than BATEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NMCO | BATEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.52% | 1.45% | +2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 6.63% | 2.34% | +4.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.15% | 7.69% | +3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.08% | 5.73% | +8.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.71% | 5.87% | +13.84% |