BIDAX vs. BMN
BIDAX (iShares Municipal Bond Index Fund) and BMN (Blackrock 2037 Municipal Target Term Trust) are both Municipal Bonds funds from BlackRock. Over the past 3 years, BIDAX returned 3.56%/yr vs 5.63%/yr for BMN. At a 0.18 correlation, their price movements are largely independent. BIDAX charges 0.50%/yr vs 0.93%/yr for BMN.
Performance
BIDAX vs. BMN - Performance Comparison
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Returns By Period
In the year-to-date period, BIDAX achieves a 1.41% return, which is significantly higher than BMN's -0.14% return.
BIDAX
- 1D
- -0.09%
- 1M
- 1.55%
- YTD
- 1.41%
- 6M
- 1.76%
- 1Y
- 6.37%
- 3Y*
- 3.56%
- 5Y*
- 0.69%
- 10Y*
- —
BMN
- 1D
- 0.13%
- 1M
- 0.71%
- YTD
- -0.14%
- 6M
- 1.68%
- 1Y
- 7.51%
- 3Y*
- 5.63%
- 5Y*
- —
- 10Y*
- —
BIDAX vs. BMN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BIDAX iShares Municipal Bond Index Fund | 1.41% | 4.52% | 1.44% | 5.74% | 5.43% |
BMN Blackrock 2037 Municipal Target Term Trust | -0.14% | 7.05% | 12.65% | 1.89% | -2.86% |
Correlation
The correlation between BIDAX and BMN is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022 | 0.18 |
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Return for Risk
BIDAX vs. BMN — Risk / Return Rank
BIDAX
BMN
BIDAX vs. BMN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Municipal Bond Index Fund (BIDAX) and Blackrock 2037 Municipal Target Term Trust (BMN). 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.
| BIDAX | BMN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +2.94 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.11 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 0.92 | +1.28 |
| Martin ratioReturn relative to average drawdown | 7.33 | 2.55 | +4.78 |
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Drawdowns
BIDAX vs. BMN - Drawdown Comparison
The maximum BIDAX drawdown since its inception was -14.39%, which is greater than BMN's maximum drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for BIDAX and BMN.
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Drawdown Indicators
| BIDAX | BMN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.39% | -13.04% | -1.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -8.18% | +5.23% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -12.41% | +6.34% |
Max Drawdown (5Y)Largest decline over 5 years | -14.39% | — | — |
Current DrawdownCurrent decline from peak | -0.65% | -5.71% | +5.06% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -2.35% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 2.95% | -2.06% |
Volatility
BIDAX vs. BMN - Volatility Comparison
The current volatility for iShares Municipal Bond Index Fund (BIDAX) is 0.75%, while Blackrock 2037 Municipal Target Term Trust (BMN) has a volatility of 6.03%. This indicates that BIDAX experiences smaller price fluctuations and is considered to be less risky than BMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIDAX | BMN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 6.03% | -5.28% |
Volatility (6M)Calculated over the trailing 6-month period | 2.06% | 11.32% | -9.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.66% | 13.40% | -10.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 10.97% | -6.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 10.97% | -6.55% |
BIDAX vs. BMN - Expense Ratio Comparison
BIDAX has a 0.50% expense ratio, which is lower than BMN's 0.93% expense ratio.
Dividends
BIDAX vs. BMN - Dividend Comparison
BIDAX's dividend yield for the trailing twelve months is around 3.11%, less than BMN's 4.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BIDAX iShares Municipal Bond Index Fund | 3.11% | 4.09% | 3.25% | 2.16% | 1.92% | 2.36% | 2.35% | 3.64% | 0.48% |
BMN Blackrock 2037 Municipal Target Term Trust | 4.40% | 4.30% | 4.40% | 4.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BIDAX and BMN have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMN has higher volatility (6.03%) compared to BIDAX (0.75%). In terms of maximum drawdown, BIDAX dropped -14.39% vs BMN's -13.04%.
BIDAX currently has the higher Sharpe Ratio (2.45 vs 0.56), 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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