SIBPX vs. BATAX

Last updated Jun 4, 2026

SIBPX (Saratoga Investment Quality Bond Portfolio) and BATAX (BlackRock Allocation Target Shares Series A Portfolio) are both Short-Term Bond funds. Over the past 5 years, SIBPX returned 1.10%/yr vs 3.41%/yr for BATAX. A 0.55 correlation means they provide meaningful diversification when combined. SIBPX charges 1.54%/yr vs 0.00%/yr for BATAX.

Performance

SIBPX vs. BATAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saratoga Investment Quality Bond Portfolio (SIBPX) and BlackRock Allocation Target Shares Series A Portfolio (BATAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIBPX achieves a -0.75% return, which is significantly lower than BATAX's 1.87% return.

SIBPX

• 1D: 0.00%
• 1M: 0.20%
• YTD: -0.75%
• 6M: -1.11%
• 1Y: 3.13%
• 3Y*: 2.93%
• 5Y*: 1.10%
• 10Y*: —

BATAX

• 1D: -0.10%
• 1M: 0.34%
• YTD: 1.87%
• 6M: 2.32%
• 1Y: 6.24%
• 3Y*: 6.70%
• 5Y*: 3.41%
• 10Y*: 3.59%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SIBPX vs. BATAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIBPX Saratoga Investment Quality Bond Portfolio	-0.75%	6.50%	0.78%	2.90%	-2.51%	-1.73%	3.34%	3.84%	-0.72%	-0.13%
BATAX BlackRock Allocation Target Shares Series A Portfolio	1.87%	7.37%	7.34%	6.43%	-5.87%	1.72%	2.75%	6.76%	2.20%	2.31%

Correlation

The correlation between SIBPX and BATAX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017	0.55

The correlation between SIBPX and BATAX shifts across timeframes, from 0.55 (all time) to 0.69 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SIBPX vs. BATAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SIBPX

SIBPX Risk / Return Rank: 10
SIBPX Sharpe Ratio Rank: 10
SIBPX Sortino Ratio Rank: 10
SIBPX Omega Ratio Rank: 9
SIBPX Calmar Ratio Rank: 10
SIBPX Martin Ratio Rank: 10

BATAX

BATAX Risk / Return Rank: 96
BATAX Sharpe Ratio Rank: 91
BATAX Sortino Ratio Rank: 99
BATAX Omega Ratio Rank: 98
BATAX Calmar Ratio Rank: 97
BATAX Martin Ratio Rank: 97

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.

SIBPX vs. BATAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saratoga Investment Quality Bond Portfolio (SIBPX) and BlackRock Allocation Target Shares Series A Portfolio (BATAX). 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.

	SIBPX	BATAX	Difference
Sharpe ratio Return per unit of total volatility	0.80	3.06	-2.26
Sortino ratio Return per unit of downside risk	1.19	7.71	-6.52
Omega ratio Gain probability vs. loss probability	1.14	2.14	-1.00
Calmar ratio Return relative to maximum drawdown	0.95	6.69	-5.74
Martin ratio Return relative to average drawdown	2.86	27.99	-25.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIBPX vs. BATAX - Sharpe Ratio Comparison

The current SIBPX Sharpe Ratio is 0.80, which is lower than the BATAX Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of SIBPX and BATAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SIBPX	BATAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	3.06	-2.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	1.57	-1.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	1.11	-0.65

Drawdowns

SIBPX vs. BATAX - Drawdown Comparison

The maximum SIBPX drawdown since its inception was -5.57%, smaller than the maximum BATAX drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for SIBPX and BATAX.

Drawdown Indicators

	SIBPX	BATAX	Difference
Max Drawdown Largest peak-to-trough decline	-5.57%	-17.42%	+11.85%
Max Drawdown (1Y) Largest decline over 1 year	-3.30%	-0.94%	-2.36%
Max Drawdown (3Y) Largest decline over 3 years	-4.28%	-1.15%	-3.13%
Max Drawdown (5Y) Largest decline over 5 years	-4.83%	-8.12%	+3.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-17.42%	—
Current Drawdown Current decline from peak	-2.08%	-0.10%	-1.98%
Average Drawdown Average peak-to-trough decline	-1.71%	-1.30%	-0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.22%	+0.88%

Volatility

SIBPX vs. BATAX - Volatility Comparison

Saratoga Investment Quality Bond Portfolio (SIBPX) has a higher volatility of 1.22% compared to BlackRock Allocation Target Shares Series A Portfolio (BATAX) at 0.67%. This indicates that SIBPX's price experiences larger fluctuations and is considered to be riskier than BATAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIBPX	BATAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	0.67%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	2.67%	1.43%	+1.24%
Volatility (1Y) Calculated over the trailing 1-year period	3.93%	2.04%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.36%	2.18%	+1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.75%	3.07%	-0.32%

SIBPX vs. BATAX - Expense Ratio Comparison

SIBPX has a 1.54% expense ratio, which is higher than BATAX's 0.00% expense ratio.

Dividends

SIBPX vs. BATAX - Dividend Comparison

SIBPX's dividend yield for the trailing twelve months is around 2.04%, less than BATAX's 5.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BATAX BlackRock Allocation Target Shares Series A Portfolio	5.74%	5.92%	5.45%	3.91%	3.14%	1.82%	3.22%	4.73%	5.36%	4.10%	0.40%
SIBPX Saratoga Investment Quality Bond Portfolio	2.04%	2.24%	2.31%	1.54%	0.14%	1.39%	0.58%	0.99%	1.21%	1.03%	0.00%

Frequently Asked Questions

Can I hold both SIBPX and BATAX in my portfolio?

SIBPX and BATAX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIBPX or BATAX?

SIBPX has higher volatility (1.22%) compared to BATAX (0.67%). In terms of maximum drawdown, SIBPX dropped -5.57% vs BATAX's -17.42%.

Which has better risk-adjusted returns?

BATAX currently has the higher Sharpe Ratio (3.06 vs 0.80), 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.