CA vs. INMU
CA (Xtrackers California Municipal Bond ETF) and INMU (BlackRock Intermediate Muni Income Bond ETF) are both Municipal Bonds funds. CA is passively managed, while INMU is actively managed. Over the past year, CA returned 6.67% vs 7.17% for INMU. A 0.56 correlation means they provide meaningful diversification when combined. CA charges 0.07%/yr vs 0.30%/yr for INMU.
Performance
CA vs. INMU - Performance Comparison
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Returns By Period
In the year-to-date period, CA achieves a 1.20% return, which is significantly lower than INMU's 1.73% return.
CA
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 1.20%
- 6M
- 1.44%
- 1Y
- 6.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INMU
- 1D
- 0.00%
- 1M
- 0.57%
- YTD
- 1.73%
- 6M
- 1.98%
- 1Y
- 7.17%
- 3Y*
- 4.89%
- 5Y*
- 1.78%
- 10Y*
- —
CA vs. INMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CA Xtrackers California Municipal Bond ETF | 1.20% | 3.05% | 1.51% | 0.79% |
INMU BlackRock Intermediate Muni Income Bond ETF | 1.73% | 5.52% | 2.77% | 0.47% |
Correlation
The correlation between CA and INMU is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023 | 0.56 |
The correlation between CA and INMU has been stable across timeframes, ranging from 0.48 to 0.56 - a consistent structural relationship.
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Return for Risk
CA vs. INMU — Risk / Return Rank
CA
INMU
CA vs. INMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers California Municipal Bond ETF (CA) and BlackRock Intermediate Muni Income Bond ETF (INMU). 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.
| CA | INMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.65 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 2.79 | -0.18 |
| Martin ratioReturn relative to average drawdown | 9.84 | 9.53 | +0.31 |
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
| CA | INMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 2.87 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.60 | +0.08 |
Drawdowns
CA vs. INMU - Drawdown Comparison
The maximum CA drawdown since its inception was -5.24%, smaller than the maximum INMU drawdown of -10.67%. Use the drawdown chart below to compare losses from any high point for CA and INMU.
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Drawdown Indicators
| CA | INMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.24% | -10.67% | +5.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -2.58% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.67% | — |
Current DrawdownCurrent decline from peak | -0.75% | -0.66% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -2.81% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.75% | -0.07% |
Volatility
CA vs. INMU - Volatility Comparison
The current volatility for Xtrackers California Municipal Bond ETF (CA) is 0.31%, while BlackRock Intermediate Muni Income Bond ETF (INMU) has a volatility of 0.81%. This indicates that CA experiences smaller price fluctuations and is considered to be less risky than INMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CA | INMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.31% | 0.81% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 1.88% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.64% | 2.51% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.99% | 3.60% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.99% | 3.54% | +0.45% |
CA vs. INMU - Expense Ratio Comparison
CA has a 0.07% expense ratio, which is lower than INMU's 0.30% expense ratio.
Dividends
CA vs. INMU - Dividend Comparison
CA's dividend yield for the trailing twelve months is around 2.96%, less than INMU's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CA Xtrackers California Municipal Bond ETF | 2.96% | 3.14% | 3.03% | 0.00% | 0.00% | 0.00% |
INMU BlackRock Intermediate Muni Income Bond ETF | 3.36% | 3.48% | 3.47% | 3.44% | 1.92% | 1.14% |
Frequently Asked Questions
CA and INMU have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INMU has higher volatility (0.81%) compared to CA (0.31%). In terms of maximum drawdown, CA dropped -5.24% vs INMU's -10.67%.
On 1-year performance, INMU leads with 7.17% vs 6.67% for CA. On fees, CA is cheaper at 0.07% per year. On volatility, CA has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, INMU has performed better with a 7.17% return vs 6.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CA is cheaper with a 0.07% expense ratio, compared with 0.30% for INMU.
INMU has the higher dividend yield at 3.36%, compared with 2.96% for CA.
They also come from different issuers: Xtrackers and BlackRock. Their fees differ too: 0.07% for CA and 0.30% for INMU.
INMU currently has the higher Sharpe Ratio (2.87 vs 2.54), 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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