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VMPAX vs. BATVX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VMPAX vs. BATVX

Last updated Jun 23, 2026

VMPAX (Allspring Strategic Municipal Bond Fund) and BATVX (BlackRock Allocation Target Shares) are both Municipal Bonds funds. Over the past 5 years, VMPAX returned 2.16%/yr vs 1.51%/yr for BATVX. At a 0.17 correlation, their price movements are largely independent. VMPAX charges 0.79%/yr vs 0.00%/yr for BATVX.

Performance

VMPAX vs. BATVX - Performance Comparison

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

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Returns By Period

In the year-to-date period, VMPAX achieves a 1.31% return, which is significantly higher than BATVX's 0.97% return.

VMPAX

1D
0.00%
1M
0.90%
YTD
1.31%
6M
1.53%
1Y
4.73%
3Y*
4.77%
5Y*
2.16%
10Y*
2.34%

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)

VMPAX vs. BATVX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
VMPAX
Allspring Strategic Municipal Bond Fund		1.31%3.54%5.44%6.56%-5.68%0.42%
BATVX
BlackRock Allocation Target Shares		0.97%2.80%2.48%1.41%-0.10%0.00%

Correlation

The correlation between VMPAX and BATVX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.28

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

0.22

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

0.17

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

0.17

The correlation between VMPAX and BATVX shifts across timeframes, from 0.17 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

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Allspring Strategic Municipal Bond Fund

BlackRock Allocation Target Shares

Often compared with VMPAX:
VMPAX vs. EVSAXVMPAX vs. DFABXVMPAX vs. SCVAXVMPAX vs. EKJAXVMPAX vs. FGNSXVMPAX vs. USMTXVMPAX vs. NMI
Often compared with BATVX:
BATVX vs. CBTAXBATVX vs. FOHFXBATVX vs. COLTXBATVX vs. SEPAXBATVX vs. VPALXBATVX vs. PTEAXBATVX vs. NMTRX

Return for Risk

VMPAX vs. BATVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VMPAX
VMPAX Risk / Return Rank: 7474
Overall Rank
VMPAX Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
VMPAX Sortino Ratio Rank: 9494
Sortino Ratio Rank
VMPAX Omega Ratio Rank: 9696
Omega Ratio Rank
VMPAX Calmar Ratio Rank: 4848
Calmar Ratio Rank
VMPAX 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.

VMPAX vs. BATVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Strategic Municipal Bond Fund (VMPAX) 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.

VMPAXBATVXDifference
Sharpe ratioReturn per unit of total volatility
2.77
3.57

-0.80

Sortino ratioReturn per unit of downside risk
4.51

—

—

Omega ratioGain probability vs. loss probability

1.82

—

—

Calmar ratioReturn relative to maximum drawdown

2.52

—

—

Martin ratioReturn relative to average drawdown

8.52

—

—

VMPAX vs. BATVX - Sharpe Ratio Comparison

The current VMPAX Sharpe Ratio is 2.77, which is comparable to the BATVX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of VMPAX 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.

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Drawdowns

VMPAX vs. BATVX - Drawdown Comparison

The maximum VMPAX drawdown since its inception was -8.62%, which is greater than BATVX's maximum drawdown of -0.20%. Use the drawdown chart below to compare losses from any high point for VMPAX and BATVX.

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Drawdown Indicators

VMPAXBATVXDifference

Max Drawdown

Largest peak-to-trough decline

-8.62%

-0.20%

-8.42%

Max Drawdown (1Y)

Largest decline over 1 year

-1.89%

0.00%

-1.89%

Max Drawdown (3Y)

Largest decline over 3 years

-3.16%

-0.10%

-3.06%

Max Drawdown (5Y)

Largest decline over 5 years

-8.62%

-0.20%

-8.42%

Max Drawdown (10Y)

Largest decline over 10 years

-8.62%

—

—

Current Drawdown

Current decline from peak

-0.34%

0.00%

-0.34%

Average Drawdown

Average peak-to-trough decline

-0.61%

-0.03%

-0.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.56%

0.00%

+0.56%

Volatility

VMPAX vs. BATVX - Volatility Comparison

Allspring Strategic Municipal Bond Fund (VMPAX) has a higher volatility of 0.48% compared to BlackRock Allocation Target Shares (BATVX) at 0.20%. This indicates that VMPAX'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.

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Volatility by Period

VMPAXBATVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.48%

0.20%

+0.28%

Volatility (6M)

Calculated over the trailing 6-month period

1.35%

0.49%

+0.86%

Volatility (1Y)

Calculated over the trailing 1-year period

1.72%

0.73%

+0.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.49%

0.64%

+1.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.45%

0.63%

+1.82%

VMPAX vs. BATVX - Expense Ratio Comparison

VMPAX has a 0.79% expense ratio, which is higher than BATVX's 0.00% expense ratio.

Dividends

VMPAX vs. BATVX - Dividend Comparison

VMPAX's dividend yield for the trailing twelve months is around 2.57%, which matches 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%
VMPAX
Allspring Strategic Municipal Bond Fund		2.57%2.55%4.94%4.21%1.56%1.33%1.66%2.13%1.87%1.86%1.96%1.63%

Frequently Asked Questions

VMPAX and BATVX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VMPAX has higher volatility (0.48%) compared to BATVX (0.20%). In terms of maximum drawdown, VMPAX dropped -8.62% vs BATVX's -0.20%.

BATVX currently has the higher Sharpe Ratio (3.57 vs 2.77), 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.

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