VWALX vs. BATEX
Compare and contrast key facts about Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and BlackRock Allocation Target Shares Series E Portfolio (BATEX).
VWALX is managed by Vanguard. It was launched on Nov 12, 2001. BATEX is managed by BlackRock. It was launched on Aug 3, 2014.
Performance
VWALX vs. BATEX - Performance Comparison
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VWALX vs. BATEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | -0.64% | 5.06% | 4.08% | 8.45% | -11.69% | 3.42% | 5.49% | 9.58% | 1.38% | 7.96% |
BATEX BlackRock Allocation Target Shares Series E Portfolio | -0.89% | 3.22% | 4.74% | 6.45% | -14.23% | 8.28% | 5.77% | 10.92% | 1.75% | 8.76% |
Returns By Period
In the year-to-date period, VWALX achieves a -0.64% return, which is significantly higher than BATEX's -0.89% return. Both investments have delivered pretty close results over the past 10 years, with VWALX having a 3.04% annualized return and BATEX not far behind at 2.94%.
VWALX
- 1D
- 0.19%
- 1M
- -2.87%
- YTD
- -0.64%
- 6M
- 1.07%
- 1Y
- 4.06%
- 3Y*
- 4.50%
- 5Y*
- 1.49%
- 10Y*
- 3.04%
BATEX
- 1D
- 0.20%
- 1M
- -2.94%
- YTD
- -0.89%
- 6M
- 0.45%
- 1Y
- 1.72%
- 3Y*
- 3.51%
- 5Y*
- 0.72%
- 10Y*
- 2.94%
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VWALX vs. BATEX - Expense Ratio Comparison
VWALX has a 0.09% expense ratio, which is lower than BATEX's 0.11% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VWALX vs. BATEX — Risk / Return Rank
VWALX
BATEX
VWALX vs. BATEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and BlackRock Allocation Target Shares Series E Portfolio (BATEX). 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.
| VWALX | BATEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 0.33 | +0.56 |
Sortino ratioReturn per unit of downside risk | 1.22 | 0.49 | +0.72 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.11 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.97 | 0.39 | +0.58 |
Martin ratioReturn relative to average drawdown | 3.02 | 0.98 | +2.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VWALX | BATEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 0.33 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.13 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.50 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 0.58 | +0.48 |
Correlation
The correlation between VWALX and BATEX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VWALX vs. BATEX - Dividend Comparison
VWALX's dividend yield for the trailing twelve months is around 4.15%, less than BATEX's 4.73% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 4.15% | 5.04% | 4.47% | 3.59% | 3.44% | 3.04% | 3.40% | 4.03% | 3.85% | 3.77% | 3.86% | 3.75% |
BATEX BlackRock Allocation Target Shares Series E Portfolio | 4.73% | 5.01% | 3.74% | 2.98% | 5.41% | 3.29% | 3.50% | 3.80% | 4.75% | 2.88% | 0.98% | 0.13% |
Drawdowns
VWALX vs. BATEX - Drawdown Comparison
The maximum VWALX drawdown since its inception was -17.24%, smaller than the maximum BATEX drawdown of -19.90%. Use the drawdown chart below to compare losses from any high point for VWALX and BATEX.
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Drawdown Indicators
| VWALX | BATEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.24% | -19.90% | +2.66% |
Max Drawdown (1Y)Largest decline over 1 year | -5.63% | -7.14% | +1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -17.24% | -19.90% | +2.66% |
Max Drawdown (10Y)Largest decline over 10 years | -17.24% | -19.90% | +2.66% |
Current DrawdownCurrent decline from peak | -2.87% | -2.94% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -2.18% | -4.08% | +1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 2.80% | -0.99% |
Volatility
VWALX vs. BATEX - Volatility Comparison
The current volatility for Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) is 1.19%, while BlackRock Allocation Target Shares Series E Portfolio (BATEX) has a volatility of 1.31%. This indicates that VWALX experiences smaller price fluctuations and is considered to be less risky than BATEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWALX | BATEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.31% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 2.29% | -0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.71% | 7.69% | -1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.76% | 5.73% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 5.87% | -1.25% |