THIFX vs. BATAX

Last updated Jun 4, 2026

THIFX (Thornburg Limited Term Income Fund) and BATAX (BlackRock Allocation Target Shares Series A Portfolio) are both Short-Term Bond funds. Over the past 10 years, THIFX returned 2.44%/yr vs 3.59%/yr for BATAX. A 0.69 correlation means they provide meaningful diversification when combined. THIFX charges 0.77%/yr vs 0.00%/yr for BATAX.

Performance

THIFX vs. BATAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thornburg Limited Term Income Fund (THIFX) 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, THIFX achieves a 0.67% return, which is significantly lower than BATAX's 1.87% return. Over the past 10 years, THIFX has underperformed BATAX with an annualized return of 2.44%, while BATAX has yielded a comparatively higher 3.59% annualized return.

THIFX

• 1D: 0.00%
• 1M: 0.25%
• YTD: 0.67%
• 6M: 0.91%
• 1Y: 4.93%
• 3Y*: 5.00%
• 5Y*: 1.80%
• 10Y*: 2.44%

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)

THIFX vs. BATAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THIFX Thornburg Limited Term Income Fund	0.67%	6.81%	4.35%	5.65%	-7.50%	-1.07%	7.38%	5.37%	0.99%	2.27%
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%	5.21%

Correlation

The correlation between THIFX and BATAX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.69

The correlation between THIFX and BATAX shifts across timeframes, from 0.69 (all time) to 0.80 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

THIFX vs. BATAX — Risk / Return Rank

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

THIFX

THIFX Risk / Return Rank: 59
THIFX Sharpe Ratio Rank: 53
THIFX Sortino Ratio Rank: 65
THIFX Omega Ratio Rank: 57
THIFX Calmar Ratio Rank: 70
THIFX Martin Ratio Rank: 52

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.

THIFX vs. BATAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg Limited Term Income Fund (THIFX) 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.

	THIFX	BATAX	Difference
Sharpe ratio Return per unit of total volatility	2.14	3.06	-0.92
Sortino ratio Return per unit of downside risk	3.38	7.71	-4.33
Omega ratio Gain probability vs. loss probability	1.42	2.14	-0.72
Calmar ratio Return relative to maximum drawdown	3.25	6.69	-3.44
Martin ratio Return relative to average drawdown	10.68	27.99	-17.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THIFX vs. BATAX - Sharpe Ratio Comparison

The current THIFX Sharpe Ratio is 2.14, which is lower than the BATAX Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of THIFX 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

	THIFX	BATAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	3.06	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	1.57	-1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.92	1.17	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	1.40	1.11	+0.29

Drawdowns

THIFX vs. BATAX - Drawdown Comparison

The maximum THIFX drawdown since its inception was -10.91%, smaller than the maximum BATAX drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for THIFX and BATAX.

Drawdown Indicators

	THIFX	BATAX	Difference
Max Drawdown Largest peak-to-trough decline	-10.91%	-17.42%	+6.51%
Max Drawdown (1Y) Largest decline over 1 year	-1.50%	-0.94%	-0.56%
Max Drawdown (3Y) Largest decline over 3 years	-2.49%	-1.15%	-1.34%
Max Drawdown (5Y) Largest decline over 5 years	-10.91%	-8.12%	-2.79%
Max Drawdown (10Y) Largest decline over 10 years	-10.91%	-17.42%	+6.51%
Current Drawdown Current decline from peak	-0.59%	-0.10%	-0.49%
Average Drawdown Average peak-to-trough decline	-1.13%	-1.30%	+0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	0.22%	+0.24%

Volatility

THIFX vs. BATAX - Volatility Comparison

Thornburg Limited Term Income Fund (THIFX) and BlackRock Allocation Target Shares Series A Portfolio (BATAX) have volatilities of 0.70% and 0.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THIFX	BATAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	0.67%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	1.55%	1.43%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.27%	2.04%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.25%	2.18%	+1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.66%	3.07%	-0.41%

THIFX vs. BATAX - Expense Ratio Comparison

THIFX has a 0.77% expense ratio, which is higher than BATAX's 0.00% expense ratio.

Dividends

THIFX vs. BATAX - Dividend Comparison

THIFX's dividend yield for the trailing twelve months is around 3.68%, less than BATAX's 5.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
THIFX Thornburg Limited Term Income Fund	3.68%	3.79%	3.79%	2.53%	1.96%	1.31%	3.03%	3.13%	2.34%	1.87%	1.88%	2.01%

Frequently Asked Questions

Can I hold both THIFX and BATAX in my portfolio?

THIFX and BATAX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THIFX or BATAX?

THIFX has higher volatility (0.70%) compared to BATAX (0.67%). In terms of maximum drawdown, THIFX dropped -10.91% vs BATAX's -17.42%.

Which has better risk-adjusted returns?

BATAX currently has the higher Sharpe Ratio (3.06 vs 2.14), 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.