PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
TOHAX vs. BATVX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TOHAX vs. BATVX

Last updated Jun 23, 2026

TOHAX (Touchstone Core Municipal Bond Fund) and BATVX (BlackRock Allocation Target Shares) are both Municipal Bonds funds. Over the past 5 years, TOHAX returned 0.55%/yr vs 1.51%/yr for BATVX. At a 0.19 correlation, their price movements are largely independent. TOHAX charges 0.82%/yr vs 0.00%/yr for BATVX.

Performance

TOHAX vs. BATVX - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, TOHAX achieves a 1.15% return, which is significantly higher than BATVX's 0.97% return.

TOHAX

1D
0.09%
1M
1.58%
YTD
1.15%
6M
1.50%
1Y
5.30%
3Y*
3.33%
5Y*
0.55%
10Y*
1.69%

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)

TOHAX vs. BATVX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
TOHAX
Touchstone Core Municipal Bond Fund		1.15%4.25%1.57%5.03%-9.12%0.99%
BATVX
BlackRock Allocation Target Shares		0.97%2.80%2.48%1.41%-0.10%0.00%

Correlation

The correlation between TOHAX and BATVX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

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

0.26

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

0.19

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

0.19

The correlation between TOHAX and BATVX shifts across timeframes, from 0.19 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Touchstone Core Municipal Bond Fund

BlackRock Allocation Target Shares

Often compared with TOHAX:
TOHAX vs. SWRLXTOHAX vs. FHMIXTOHAX vs. SAGWXTOHAX vs. TMCPXTOHAX vs. TSFIXTOHAX vs. MUJTOHAX vs. LSMSX
Often compared with BATVX:
BATVX vs. CBTAXBATVX vs. FOHFXBATVX vs. COLTXBATVX vs. SEPAXBATVX vs. VPALXBATVX vs. PTEAXBATVX vs. NMTRX

Return for Risk

TOHAX vs. BATVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TOHAX
TOHAX Risk / Return Rank: 5858
Overall Rank
TOHAX Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
TOHAX Sortino Ratio Rank: 7575
Sortino Ratio Rank
TOHAX Omega Ratio Rank: 8585
Omega Ratio Rank
TOHAX Calmar Ratio Rank: 3030
Calmar Ratio Rank
TOHAX Martin Ratio Rank: 3333
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.

TOHAX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Core Municipal Bond Fund (TOHAX) 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.

TOHAXBATVXDifference
Sharpe ratioReturn per unit of total volatility
2.17
3.57

-1.40

Sortino ratioReturn per unit of downside risk
3.31

—

—

Omega ratioGain probability vs. loss probability

1.53

—

—

Calmar ratioReturn relative to maximum drawdown

1.94

—

—

Martin ratioReturn relative to average drawdown

7.08

—

—

TOHAX vs. BATVX - Sharpe Ratio Comparison

The current TOHAX Sharpe Ratio is 2.17, which is lower than the BATVX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of TOHAX 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.

Loading charts...

Drawdowns

TOHAX vs. BATVX - Drawdown Comparison

The maximum TOHAX drawdown since its inception was -13.74%, which is greater than BATVX's maximum drawdown of -0.20%. Use the drawdown chart below to compare losses from any high point for TOHAX and BATVX.

Loading charts...

Drawdown Indicators

TOHAXBATVXDifference

Max Drawdown

Largest peak-to-trough decline

-13.74%

-0.20%

-13.54%

Max Drawdown (1Y)

Largest decline over 1 year

-2.74%

0.00%

-2.74%

Max Drawdown (3Y)

Largest decline over 3 years

-5.50%

-0.10%

-5.40%

Max Drawdown (5Y)

Largest decline over 5 years

-13.74%

-0.20%

-13.54%

Max Drawdown (10Y)

Largest decline over 10 years

-13.74%

—

—

Current Drawdown

Current decline from peak

-0.23%

0.00%

-0.23%

Average Drawdown

Average peak-to-trough decline

-2.19%

-0.03%

-2.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.75%

0.00%

+0.75%

Volatility

TOHAX vs. BATVX - Volatility Comparison

Touchstone Core Municipal Bond Fund (TOHAX) has a higher volatility of 0.68% compared to BlackRock Allocation Target Shares (BATVX) at 0.20%. This indicates that TOHAX'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.

Loading charts...

Volatility by Period

TOHAXBATVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.68%

0.20%

+0.48%

Volatility (6M)

Calculated over the trailing 6-month period

1.95%

0.49%

+1.46%

Volatility (1Y)

Calculated over the trailing 1-year period

2.46%

0.73%

+1.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.56%

0.64%

+2.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.51%

0.63%

+2.88%

TOHAX vs. BATVX - Expense Ratio Comparison

TOHAX has a 0.82% expense ratio, which is higher than BATVX's 0.00% expense ratio.

Dividends

TOHAX vs. BATVX - Dividend Comparison

TOHAX's dividend yield for the trailing twelve months is around 2.80%, 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%
TOHAX
Touchstone Core Municipal Bond Fund		2.80%3.93%2.85%2.08%1.30%1.91%2.91%3.13%2.92%2.97%3.20%3.32%

Frequently Asked Questions

TOHAX and BATVX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TOHAX has higher volatility (0.68%) compared to BATVX (0.20%). In terms of maximum drawdown, TOHAX dropped -13.74% vs BATVX's -0.20%.

BATVX currently has the higher Sharpe Ratio (3.57 vs 2.17), 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.

Portfolio Optimizer

Find the right allocation for TOHAX and BATVX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer