VWLUX vs. BATEX
VWLUX (Vanguard Long-Term Tax-Exempt Fund Admiral Shares) and BATEX (BlackRock Allocation Target Shares Series E Portfolio) are both mutual funds - VWLUX is a Municipal Bonds fund managed by Vanguard, while BATEX is a High Yield Muni fund managed by BlackRock. Over the past 10 years, VWLUX returned 2.70%/yr vs 3.09%/yr for BATEX. Their correlation of 0.80 suggests significant overlap in exposure. VWLUX charges 0.09%/yr vs 0.11%/yr for BATEX.
Performance
VWLUX vs. BATEX - Performance Comparison
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Returns By Period
In the year-to-date period, VWLUX achieves a 1.88% return, which is significantly lower than BATEX's 2.73% return. Over the past 10 years, VWLUX has underperformed BATEX with an annualized return of 2.70%, while BATEX has yielded a comparatively higher 3.09% annualized return.
VWLUX
- 1D
- -0.09%
- 1M
- 0.78%
- YTD
- 1.88%
- 6M
- 2.30%
- 1Y
- 8.07%
- 3Y*
- 4.74%
- 5Y*
- 1.29%
- 10Y*
- 2.70%
BATEX
- 1D
- 0.00%
- 1M
- 1.13%
- YTD
- 2.73%
- 6M
- 2.97%
- 1Y
- 7.84%
- 3Y*
- 4.86%
- 5Y*
- 0.71%
- 10Y*
- 3.09%
VWLUX vs. BATEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares | 1.88% | 4.90% | 2.54% | 7.65% | -10.35% | 1.89% | 6.29% | 8.87% | 0.99% | 6.56% |
BATEX BlackRock Allocation Target Shares Series E Portfolio | 2.73% | 3.22% | 4.74% | 6.45% | -14.23% | 8.28% | 5.77% | 10.92% | 1.75% | 8.76% |
Correlation
The correlation between VWLUX and BATEX is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2014 | 0.80 |
The correlation between VWLUX and BATEX has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
VWLUX vs. BATEX — Risk / Return Rank
VWLUX
BATEX
VWLUX vs. BATEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) 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.
| VWLUX | BATEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.49 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 2.54 | +0.18 |
| Martin ratioReturn relative to average drawdown | 9.77 | 7.60 | +2.17 |
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
| VWLUX | BATEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.73 | 2.06 | +0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.12 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.53 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.63 | +0.36 |
Drawdowns
VWLUX vs. BATEX - Drawdown Comparison
The maximum VWLUX drawdown since its inception was -15.94%, smaller than the maximum BATEX drawdown of -19.90%. Use the drawdown chart below to compare losses from any high point for VWLUX and BATEX.
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Drawdown Indicators
| VWLUX | BATEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -19.90% | +3.96% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -3.14% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -6.90% | -8.30% | +1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | -19.90% | +3.96% |
Max Drawdown (10Y)Largest decline over 10 years | -15.94% | -19.90% | +3.96% |
Current DrawdownCurrent decline from peak | -0.32% | 0.00% | -0.32% |
Average DrawdownAverage peak-to-trough decline | -2.08% | -4.03% | +1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 1.05% | -0.19% |
Volatility
VWLUX vs. BATEX - Volatility Comparison
The current volatility for Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) is 1.26%, while BlackRock Allocation Target Shares Series E Portfolio (BATEX) has a volatility of 1.37%. This indicates that VWLUX 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
| VWLUX | BATEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.37% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | 2.74% | -0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.09% | 3.87% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.60% | 5.78% | -1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.51% | 5.89% | -1.38% |
VWLUX vs. BATEX - Expense Ratio Comparison
VWLUX 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%.
Dividends
VWLUX vs. BATEX - Dividend Comparison
VWLUX's dividend yield for the trailing twelve months is around 3.77%, less than BATEX's 5.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BATEX BlackRock Allocation Target Shares Series E Portfolio | 5.07% | 5.01% | 3.74% | 2.98% | 5.41% | 3.29% | 3.50% | 3.80% | 4.75% | 2.88% | 0.98% | 0.13% |
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares | 3.77% | 4.61% | 4.08% | 3.17% | 3.00% | 2.70% | 3.32% | 3.91% | 3.58% | 3.80% | 4.09% | 3.87% |
Frequently Asked Questions
VWLUX and BATEX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BATEX has higher volatility (1.37%) compared to VWLUX (1.26%). In terms of maximum drawdown, VWLUX dropped -15.94% vs BATEX's -19.90%.
VWLUX currently has the higher Sharpe Ratio (2.73 vs 2.06), 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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