PortfoliosLab logoPortfoliosLab logo

Documentation

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

USCBX vs. BATVX

Last updated Jun 25, 2026

USCBX (USAA California Bond Fund) and BATVX (BlackRock Allocation Target Shares) are both Municipal Bonds funds. Over the past 5 years, USCBX returned 0.92%/yr vs 1.51%/yr for BATVX. At a 0.19 correlation, their price movements are largely independent. USCBX charges 0.55%/yr vs 0.00%/yr for BATVX.

Performance

USCBX vs. BATVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA California Bond Fund (USCBX) 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, USCBX achieves a 2.27% return, which is significantly higher than BATVX's 0.97% return.

USCBX

1D
0.00%
1M
2.09%
YTD
2.27%
6M
2.59%
1Y
7.78%
3Y*
3.81%
5Y*
0.92%
10Y*
2.12%

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)

USCBX vs. BATVX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
USCBX
USAA California Bond Fund		2.27%3.20%1.91%6.68%-9.75%1.65%
BATVX
BlackRock Allocation Target Shares		0.97%2.80%2.48%1.41%-0.10%0.00%

Correlation

The correlation between USCBX and BATVX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.34

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 USCBX and BATVX shifts across timeframes, from 0.19 (all time) to 0.34 (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.

USAA California Bond Fund

BlackRock Allocation Target Shares

Often compared with USCBX:
USCBX vs. APUSXUSCBX vs. ATOIXUSCBX vs. NMIUSCBX vs. DFABXUSCBX vs. USNQXUSCBX vs. USAGXUSCBX vs. USBLX
Often compared with BATVX:
BATVX vs. CBTAXBATVX vs. FOHFXBATVX vs. COLTXBATVX vs. SEPAXBATVX vs. VPALXBATVX vs. PTEAXBATVX vs. NMTRX

Return for Risk

USCBX vs. BATVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USCBX
USCBX Risk / Return Rank: 6969
Overall Rank
USCBX Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
USCBX Sortino Ratio Rank: 8585
Sortino Ratio Rank
USCBX Omega Ratio Rank: 8888
Omega Ratio Rank
USCBX Calmar Ratio Rank: 5050
Calmar Ratio Rank
USCBX Martin Ratio Rank: 4242
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.

USCBX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA California Bond Fund (USCBX) 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.

USCBXBATVXDifference
Sharpe ratioReturn per unit of total volatility
2.29
3.57

-1.28

Sortino ratioReturn per unit of downside risk
3.55

—

—

Omega ratioGain probability vs. loss probability

1.54

—

—

Calmar ratioReturn relative to maximum drawdown

2.39

—

—

Martin ratioReturn relative to average drawdown

7.90

—

—

USCBX vs. BATVX - Sharpe Ratio Comparison

The current USCBX Sharpe Ratio is 2.29, which is lower than the BATVX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of USCBX 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

USCBX vs. BATVX - Drawdown Comparison

The maximum USCBX drawdown since its inception was -17.54%, which is greater than BATVX's maximum drawdown of -0.20%. Use the drawdown chart below to compare losses from any high point for USCBX and BATVX.

Loading charts...

Drawdown Indicators

USCBXBATVXDifference

Max Drawdown

Largest peak-to-trough decline

-17.54%

-0.20%

-17.34%

Max Drawdown (1Y)

Largest decline over 1 year

-3.27%

0.00%

-3.27%

Max Drawdown (3Y)

Largest decline over 3 years

-6.96%

-0.10%

-6.86%

Max Drawdown (5Y)

Largest decline over 5 years

-15.73%

-0.20%

-15.53%

Max Drawdown (10Y)

Largest decline over 10 years

-15.73%

—

—

Current Drawdown

Current decline from peak

-0.10%

0.00%

-0.10%

Average Drawdown

Average peak-to-trough decline

-2.18%

-0.02%

-2.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.99%

0.00%

+0.99%

Volatility

USCBX vs. BATVX - Volatility Comparison

USAA California Bond Fund (USCBX) has a higher volatility of 0.98% compared to BlackRock Allocation Target Shares (BATVX) at 0.20%. This indicates that USCBX'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

USCBXBATVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.98%

0.20%

+0.78%

Volatility (6M)

Calculated over the trailing 6-month period

2.35%

0.49%

+1.86%

Volatility (1Y)

Calculated over the trailing 1-year period

3.42%

0.73%

+2.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.14%

0.64%

+4.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.60%

0.63%

+3.97%

USCBX vs. BATVX - Expense Ratio Comparison

USCBX has a 0.55% expense ratio, which is higher than BATVX's 0.00% expense ratio.

Dividends

USCBX vs. BATVX - Dividend Comparison

USCBX's dividend yield for the trailing twelve months is around 3.47%, 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%
USCBX
USAA California Bond Fund		3.47%3.96%3.73%3.17%2.85%2.29%2.59%2.74%3.20%3.34%3.49%3.79%

Frequently Asked Questions

USCBX and BATVX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USCBX has higher volatility (0.98%) compared to BATVX (0.20%). In terms of maximum drawdown, USCBX dropped -17.54% vs BATVX's -0.20%.

BATVX currently has the higher Sharpe Ratio (3.57 vs 2.29), 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 USCBX 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