ORNAX vs. BATEX
Compare and contrast key facts about Invesco Rochester Municipal Opportunities Fund (ORNAX) and BlackRock Allocation Target Shares Series E Portfolio (BATEX).
ORNAX is managed by Invesco. It was launched on Sep 30, 1993. BATEX is managed by BlackRock. It was launched on Aug 3, 2014.
Performance
ORNAX vs. BATEX - Performance Comparison
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ORNAX vs. BATEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ORNAX Invesco Rochester Municipal Opportunities Fund | -1.52% | 2.32% | 4.76% | 7.66% | -14.80% | 6.73% | 5.89% | 14.25% | 9.16% | 6.88% |
BATEX BlackRock Allocation Target Shares Series E Portfolio | -0.89% | 3.22% | 4.74% | 6.45% | -14.23% | 8.28% | 5.77% | 10.92% | 1.75% | 8.76% |
Returns By Period
In the year-to-date period, ORNAX achieves a -1.52% return, which is significantly lower than BATEX's -0.89% return. Over the past 10 years, ORNAX has outperformed BATEX with an annualized return of 4.06%, while BATEX has yielded a comparatively lower 2.94% annualized return.
ORNAX
- 1D
- 0.31%
- 1M
- -2.55%
- YTD
- -1.52%
- 6M
- -1.07%
- 1Y
- 0.48%
- 3Y*
- 3.05%
- 5Y*
- 0.31%
- 10Y*
- 4.06%
BATEX
- 1D
- 0.20%
- 1M
- -2.94%
- YTD
- -0.89%
- 6M
- 0.45%
- 1Y
- 1.72%
- 3Y*
- 3.51%
- 5Y*
- 0.72%
- 10Y*
- 2.94%
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ORNAX vs. BATEX - Expense Ratio Comparison
ORNAX has a 0.72% expense ratio, which is higher than BATEX's 0.11% expense ratio.
Return for Risk
ORNAX vs. BATEX — Risk / Return Rank
ORNAX
BATEX
ORNAX vs. BATEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Rochester Municipal Opportunities Fund (ORNAX) 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.
| ORNAX | BATEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.26 | 0.33 | -0.07 |
Sortino ratioReturn per unit of downside risk | 0.40 | 0.49 | -0.09 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.11 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.05 | 0.39 | -0.34 |
Martin ratioReturn relative to average drawdown | 0.12 | 0.98 | -0.86 |
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
| ORNAX | BATEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.33 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.13 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.50 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.58 | +0.19 |
Correlation
The correlation between ORNAX and BATEX is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ORNAX vs. BATEX - Dividend Comparison
ORNAX's dividend yield for the trailing twelve months is around 3.66%, less than BATEX's 4.73% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ORNAX Invesco Rochester Municipal Opportunities Fund | 3.66% | 5.86% | 5.68% | 4.21% | 4.04% | 4.26% | 4.86% | 4.50% | 4.80% | 5.78% | 6.50% | 6.67% |
BATEX BlackRock Allocation Target Shares Series E Portfolio | 4.73% | 5.01% | 3.74% | 2.98% | 5.41% | 3.29% | 3.50% | 3.80% | 4.75% | 2.88% | 0.98% | 0.13% |
Drawdowns
ORNAX vs. BATEX - Drawdown Comparison
The maximum ORNAX drawdown since its inception was -55.48%, which is greater than BATEX's maximum drawdown of -19.90%. Use the drawdown chart below to compare losses from any high point for ORNAX and BATEX.
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Drawdown Indicators
| ORNAX | BATEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.48% | -19.90% | -35.58% |
Max Drawdown (1Y)Largest decline over 1 year | -6.48% | -7.14% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -21.16% | -19.90% | -1.26% |
Max Drawdown (10Y)Largest decline over 10 years | -21.16% | -19.90% | -1.26% |
Current DrawdownCurrent decline from peak | -3.17% | -2.94% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -7.11% | -4.08% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.80% | -0.19% |
Volatility
ORNAX vs. BATEX - Volatility Comparison
Invesco Rochester Municipal Opportunities Fund (ORNAX) has a higher volatility of 1.38% compared to BlackRock Allocation Target Shares Series E Portfolio (BATEX) at 1.31%. This indicates that ORNAX'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
| ORNAX | BATEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.31% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 2.29% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.13% | 7.69% | -0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.00% | 5.73% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.98% | 5.87% | +0.11% |