CMU vs. SCHJ

Last updated Apr 1, 2026

Compare and contrast key facts about MFS High Yield Municipal Trust (CMU) and Schwab 1-5 Year Corporate Bond ETF (SCHJ).

SCHJ is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US Corporate (1-5 Y). It was launched on Oct 10, 2019.

Performance

CMU vs. SCHJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS High Yield Municipal Trust (CMU) and Schwab 1-5 Year Corporate Bond ETF (SCHJ). The values are adjusted to include any dividend payments, if applicable.

CMU vs. SCHJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CMU MFS High Yield Municipal Trust	3.42%	5.39%	11.56%	10.28%	-27.23%	7.38%	-2.18%	1.80%
SCHJ Schwab 1-5 Year Corporate Bond ETF	0.07%	6.80%	4.89%	6.36%	-5.73%	-0.67%	5.30%	0.61%

Returns By Period

In the year-to-date period, CMU achieves a 3.42% return, which is significantly higher than SCHJ's 0.07% return.

CMU

• 1D: 1.42%
• 1M: -0.65%
• YTD: 3.42%
• 6M: 6.11%
• 1Y: 8.58%
• 3Y*: 8.94%
• 5Y*: 0.42%
• 10Y*: 2.08%

SCHJ

• 1D: 0.26%
• 1M: -0.93%
• YTD: 0.07%
• 6M: 1.35%
• 1Y: 4.91%
• 3Y*: 5.38%
• 5Y*: 2.35%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CMU vs. SCHJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMU

CMU Risk / Return Rank: 65
CMU Sharpe Ratio Rank: 70
CMU Sortino Ratio Rank: 58
CMU Omega Ratio Rank: 64
CMU Calmar Ratio Rank: 64
CMU Martin Ratio Rank: 67

SCHJ

SCHJ Risk / Return Rank: 94
SCHJ Sharpe Ratio Rank: 93
SCHJ Sortino Ratio Rank: 95
SCHJ Omega Ratio Rank: 95
SCHJ Calmar Ratio Rank: 92
SCHJ Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMU vs. SCHJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS High Yield Municipal Trust (CMU) and Schwab 1-5 Year Corporate Bond ETF (SCHJ). 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.

	CMU	SCHJ	Difference
Sharpe ratio Return per unit of total volatility	0.84	2.16	-1.32
Sortino ratio Return per unit of downside risk	1.12	3.05	-1.93
Omega ratio Gain probability vs. loss probability	1.18	1.46	-0.28
Calmar ratio Return relative to maximum drawdown	1.06	3.32	-2.26
Martin ratio Return relative to average drawdown	3.05	13.80	-10.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMU vs. SCHJ - Sharpe Ratio Comparison

The current CMU Sharpe Ratio is 0.84, which is lower than the SCHJ Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of CMU and SCHJ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CMU	SCHJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	2.16	-1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	0.81	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.63	-0.51

Correlation

The correlation between CMU and SCHJ is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CMU vs. SCHJ - Dividend Comparison

CMU's dividend yield for the trailing twelve months is around 5.45%, more than SCHJ's 4.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMU MFS High Yield Municipal Trust	5.45%	5.38%	4.69%	4.05%	5.58%	4.52%	4.93%	4.81%	6.09%	5.87%	6.13%	6.22%
SCHJ Schwab 1-5 Year Corporate Bond ETF	4.46%	4.42%	4.00%	2.98%	1.64%	0.94%	2.54%	0.42%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CMU vs. SCHJ - Drawdown Comparison

The maximum CMU drawdown since its inception was -57.31%, which is greater than SCHJ's maximum drawdown of -13.62%. Use the drawdown chart below to compare losses from any high point for CMU and SCHJ.

Drawdown Indicators

	CMU	SCHJ	Difference
Max Drawdown Largest peak-to-trough decline	-57.31%	-13.62%	-43.69%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-1.47%	-7.21%
Max Drawdown (5Y) Largest decline over 5 years	-37.25%	-9.43%	-27.82%
Max Drawdown (10Y) Largest decline over 10 years	-37.25%	—	—
Current Drawdown Current decline from peak	-8.14%	-0.93%	-7.21%
Average Drawdown Average peak-to-trough decline	-13.04%	-1.92%	-11.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	0.35%	+2.67%

Volatility

CMU vs. SCHJ - Volatility Comparison

MFS High Yield Municipal Trust (CMU) has a higher volatility of 3.99% compared to Schwab 1-5 Year Corporate Bond ETF (SCHJ) at 0.87%. This indicates that CMU's price experiences larger fluctuations and is considered to be riskier than SCHJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMU	SCHJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	0.87%	+3.12%
Volatility (6M) Calculated over the trailing 6-month period	6.33%	1.28%	+5.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.31%	2.28%	+8.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.36%	2.92%	+9.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.68%	4.18%	+10.50%