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NSMIX vs. BATVX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NSMIX vs. BATVX

Last updated Jun 23, 2026

NSMIX (Columbia Short Term Municipal Bond Fund) and BATVX (BlackRock Allocation Target Shares) are both Municipal Bonds funds. Over the past 5 years, NSMIX returned 1.81%/yr vs 1.51%/yr for BATVX. At a 0.24 correlation, their price movements are largely independent. NSMIX charges 0.39%/yr vs 0.00%/yr for BATVX.

Performance

NSMIX vs. BATVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Short Term Municipal Bond Fund (NSMIX) and BlackRock Allocation Target Shares (BATVX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NSMIX achieves a 1.03% return, which is significantly higher than BATVX's 0.97% return.

NSMIX

1D
0.00%
1M
0.75%
YTD
1.03%
6M
1.37%
1Y
3.76%
3Y*
3.67%
5Y*
1.81%
10Y*
1.70%

BATVX

1D
0.00%
1M
0.20%
YTD
0.97%
6M
1.22%
1Y
2.58%
3Y*
2.47%
5Y*
1.51%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

NSMIX vs. BATVX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
NSMIX
Columbia Short Term Municipal Bond Fund		1.03%5.01%2.54%3.59%-3.06%0.29%
BATVX
BlackRock Allocation Target Shares		0.97%2.80%2.48%1.41%-0.10%0.00%

Correlation

The correlation between NSMIX and BATVX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.45

Correlation (3Y)
Calculated over the trailing 3-year period

0.32

Correlation (5Y)
Calculated over the trailing 5-year period

0.24

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.24

Over the past year, NSMIX and BATVX have become more correlated (0.45) than their long-term average of 0.24, meaning their price movements have been converging.

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Columbia Short Term Municipal Bond Fund

BlackRock Allocation Target Shares

Often compared with NSMIX:
NSMIX vs. SLMCXNSMIX vs. ATOIXNSMIX vs. USMTXNSMIX vs. LBSAXNSMIX vs. DFSMXNSMIX vs. GSFTXNSMIX vs. FSMUX
Often compared with BATVX:
BATVX vs. CBTAXBATVX vs. FOHFXBATVX vs. COLTXBATVX vs. SEPAXBATVX vs. VPALXBATVX vs. PTEAXBATVX vs. NMTRX

Return for Risk

NSMIX vs. BATVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NSMIX
NSMIX Risk / Return Rank: 7676
Overall Rank
NSMIX Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
NSMIX Sortino Ratio Rank: 9696
Sortino Ratio Rank
NSMIX Omega Ratio Rank: 9898
Omega Ratio Rank
NSMIX Calmar Ratio Rank: 5050
Calmar Ratio Rank
NSMIX Martin Ratio Rank: 4444
Martin Ratio Rank
BATVX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NSMIX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Short Term Municipal Bond Fund (NSMIX) and BlackRock Allocation Target Shares (BATVX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

NSMIXBATVXDifference
Sharpe ratioReturn per unit of total volatility
2.78
3.57

-0.79

Sortino ratioReturn per unit of downside risk
5.07

—

—

Omega ratioGain probability vs. loss probability

2.05

—

—

Calmar ratioReturn relative to maximum drawdown

2.59

—

—

Martin ratioReturn relative to average drawdown

8.76

—

—

NSMIX vs. BATVX - Sharpe Ratio Comparison

The current NSMIX Sharpe Ratio is 2.78, which is comparable to the BATVX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of NSMIX and BATVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

NSMIX vs. BATVX - Drawdown Comparison

The maximum NSMIX drawdown since its inception was -5.20%, which is greater than BATVX's maximum drawdown of -0.20%. Use the drawdown chart below to compare losses from any high point for NSMIX and BATVX.

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Drawdown Indicators

NSMIXBATVXDifference

Max Drawdown

Largest peak-to-trough decline

-5.20%

-0.20%

-5.00%

Max Drawdown (1Y)

Largest decline over 1 year

-1.45%

0.00%

-1.45%

Max Drawdown (3Y)

Largest decline over 3 years

-1.97%

-0.10%

-1.87%

Max Drawdown (5Y)

Largest decline over 5 years

-5.20%

-0.20%

-5.00%

Max Drawdown (10Y)

Largest decline over 10 years

-5.20%

—

—

Current Drawdown

Current decline from peak

-0.31%

0.00%

-0.31%

Average Drawdown

Average peak-to-trough decline

-0.37%

-0.03%

-0.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.43%

0.00%

+0.43%

Volatility

NSMIX vs. BATVX - Volatility Comparison

Columbia Short Term Municipal Bond Fund (NSMIX) has a higher volatility of 0.43% compared to BlackRock Allocation Target Shares (BATVX) at 0.20%. This indicates that NSMIX's price experiences larger fluctuations and is considered to be riskier than BATVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NSMIXBATVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.43%

0.20%

+0.23%

Volatility (6M)

Calculated over the trailing 6-month period

1.06%

0.49%

+0.57%

Volatility (1Y)

Calculated over the trailing 1-year period

1.35%

0.73%

+0.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.73%

0.64%

+1.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.57%

0.63%

+0.94%

NSMIX vs. BATVX - Expense Ratio Comparison

NSMIX has a 0.39% expense ratio, which is higher than BATVX's 0.00% expense ratio.

Dividends

NSMIX vs. BATVX - Dividend Comparison

NSMIX's dividend yield for the trailing twelve months is around 2.90%, more than BATVX's 2.55% yield.

PositionTTM20252024202320222021202020192018201720162015
BATVX
BlackRock Allocation Target Shares		2.55%2.76%2.44%1.40%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
NSMIX
Columbia Short Term Municipal Bond Fund		2.90%3.58%2.81%2.01%1.31%0.95%1.45%1.93%1.64%1.33%1.04%0.94%

Frequently Asked Questions

NSMIX and BATVX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NSMIX has higher volatility (0.43%) compared to BATVX (0.20%). In terms of maximum drawdown, NSMIX dropped -5.20% vs BATVX's -0.20%.

BATVX currently has the higher Sharpe Ratio (3.57 vs 2.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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