- Issuer
- AMG
- Inception Date
- Oct 29, 2025
- Region
- North America (United States)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $20M
Share Price Chart
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Performance
MUNX Performance Chart
AMG GW&K Muni Income ETF (MUNX) is up 1.7% since the beginning of the year. MUNX is currently trading at $25 per share.
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Returns By Period
AMG GW&K Muni Income ETF
- 1D
- -0.25%
- 1M
- 0.36%
- YTD
- 1.74%
- 6M
- 1.97%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.64%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- 23.05%
- 3Y*
- 19.90%
- 5Y*
- 11.79%
- 10Y*
- 13.33%
MUNX Monthly Returns History
Based on dividend-adjusted daily data since Oct 30, 2025, MUNX's average daily return is +0.02%, while the average monthly return is +0.25%. At this rate, an investment would double in approximately 23.1 years.
Historically, 67% of months were positive and 33% were negative. The best month was Apr 2026 with a return of +1.4%, while the worst month was Mar 2026 at -2.4%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 1 months.
On a daily basis, MUNX closed higher 60% of trading days. The best single day was Mar 23, 2026 with a return of +0.5%, while the worst single day was Mar 20, 2026 at -1.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.03% | 1.19% | -2.39% | 1.39% | 0.70% | -0.15% | 1.74% | ||||||
| 2025 | 0.21% | 0.34% | -0.03% | 0.52% |
Benchmark Metrics
AMG GW&K Muni Income ETF has an annualized alpha of 2.34%, beta of 0.11, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since October 31, 2025.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (18.60%) than losses (17.93%) - typical of diversified or defensive assets.
- Beta of 0.11 may look defensive, but with R2 of 0.17 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.17 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.34%
- Beta
- 0.11
- R²
- 0.17
- Upside Capture
- 18.60%
- Downside Capture
- 17.93%
Expense Ratio
MUNX has an expense ratio of 0.29%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for AMG GW&K Muni Income ETF (MUNX) and compare them to S&P 500 Index.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Dividends
Dividend History
AMG GW&K Muni Income ETF provided a 1.95% dividend yield over the last twelve months, with an annual payout of $0.49 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.49 | $0.14 |
Dividend yield | 1.95% | 0.55% |
Monthly Dividends
The table displays the monthly dividend distributions for AMG GW&K Muni Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.06 | $0.07 | $0.07 | $0.07 | $0.08 | $0.35 | ||||||
| 2025 | $0.14 | $0.14 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the AMG GW&K Muni Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the AMG GW&K Muni Income ETF was 2.95%, occurring on Mar 26, 2026. The portfolio has not yet recovered.
The current AMG GW&K Muni Income ETF drawdown is 0.50%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -2.95%Mar 2026 | 27d | — | 3mo 10dFeb 2026 - now |
2025 pullback2025 | -0.36%Nov 2025 | 7d | 9d | 16dNov 2025 - Nov 2025 |
2025 pullback2025 | -0.33%Dec 2025 | 1d | 1mo 1d | 1mo 2dDec 2025 - Jan 2026 |
2026 pullback2026 | -0.27%Jan 2026 | 7d | 6d | 13dJan 2026 - Jan 2026 |
2026 pullback2026 | -0.16%Jan 2026 | 0s | 2d | 2dJan 2026 - Jan 2026 |
Drawdown Indicators
| MUNX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.95% | -56.78% | +53.83% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.50% | -2.97% | +2.47% |
Average DrawdownAverage peak-to-trough decline | -0.64% | -10.72% | +10.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.97% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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