CMU vs. SCHJ
CMU (MFS High Yield Municipal Trust) is a stock, while SCHJ (Schwab 1-5 Year Corporate Bond ETF) is Corporate Bonds fund tracking the Bloomberg US Corporate (1-5 Y). Over the past 5 years, CMU returned -1.34%/yr vs 2.41%/yr for SCHJ. At a 0.36 correlation, their price movements are largely independent.
Performance
CMU vs. SCHJ - Performance Comparison
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Returns By Period
In the year-to-date period, CMU achieves a 0.53% return, which is significantly lower than SCHJ's 0.84% return.
CMU
- 1D
- -0.15%
- 1M
- 1.51%
- YTD
- 0.53%
- 6M
- 1.11%
- 1Y
- 8.12%
- 3Y*
- 8.47%
- 5Y*
- -1.34%
- 10Y*
- 1.58%
SCHJ
- 1D
- 0.12%
- 1M
- 0.46%
- YTD
- 0.84%
- 6M
- 0.96%
- 1Y
- 4.05%
- 3Y*
- 5.65%
- 5Y*
- 2.41%
- 10Y*
- —
CMU vs. SCHJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CMU MFS High Yield Municipal Trust | 0.53% | 5.39% | 11.56% | 10.28% | -27.23% | 7.38% | -2.18% | 1.16% |
SCHJ Schwab 1-5 Year Corporate Bond ETF | 0.84% | 6.80% | 4.89% | 6.36% | -5.73% | -0.67% | 5.30% | 0.61% |
Correlation
The correlation between CMU and SCHJ is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.36 |
The correlation between CMU and SCHJ shifts across timeframes, from 0.27 (1 year) to 0.39 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CMU vs. SCHJ — Risk / Return Rank
CMU
SCHJ
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.
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.
| CMU | SCHJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.42 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 2.76 | -1.61 |
| Martin ratioReturn relative to average drawdown | 4.19 | 10.68 | -6.48 |
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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.
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Drawdown Indicators
| CMU | SCHJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.31% | -13.62% | -43.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -1.47% | -6.62% |
Max Drawdown (3Y)Largest decline over 3 years | -16.20% | -1.47% | -14.73% |
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 DrawdownCurrent decline from peak | -10.71% | -0.17% | -10.54% |
Average DrawdownAverage peak-to-trough decline | -13.02% | -1.87% | -11.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 0.38% | +1.84% |
Volatility
CMU vs. SCHJ - Volatility Comparison
MFS High Yield Municipal Trust (CMU) has a higher volatility of 2.53% compared to Schwab 1-5 Year Corporate Bond ETF (SCHJ) at 0.70%. 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.
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Volatility by Period
| CMU | SCHJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 0.70% | +1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 6.89% | 1.47% | +5.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.98% | 1.91% | +7.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.39% | 2.95% | +9.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.66% | 4.12% | +10.54% |
Dividends
CMU vs. SCHJ - Dividend Comparison
CMU's dividend yield for the trailing twelve months is around 7.97%, more than SCHJ's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMU MFS High Yield Municipal Trust | 7.97% | 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 | 4.49% | 4.42% | 4.00% | 2.98% | 1.64% | 0.94% | 2.54% | 0.42% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CMU and SCHJ have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMU has higher volatility (2.53%) compared to SCHJ (0.70%). In terms of maximum drawdown, CMU dropped -57.31% vs SCHJ's -13.62%.
SCHJ currently has the higher Sharpe Ratio (2.13 vs 1.04), 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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