DYFI vs. MUSE

Last updated Jun 5, 2026

DYFI (IDX Dynamic Fixed Income ETF) and MUSE (TCW Multisector Credit Income ETF) are both Multisector Bonds funds. Both are actively managed. Over the past year, DYFI returned 3.88% vs 8.03% for MUSE. At a 0.46 correlation, their price movements are largely independent. DYFI charges 1.33%/yr vs 0.56%/yr for MUSE.

Performance

DYFI vs. MUSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IDX Dynamic Fixed Income ETF (DYFI) and TCW Multisector Credit Income ETF (MUSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DYFI achieves a -0.02% return, which is significantly lower than MUSE's 2.34% return.

DYFI

• 1D: 0.11%
• 1M: 0.22%
• YTD: -0.02%
• 6M: 0.40%
• 1Y: 3.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUSE

• 1D: 0.04%
• 1M: 0.90%
• YTD: 2.34%
• 6M: 2.84%
• 1Y: 8.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DYFI vs. MUSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DYFI IDX Dynamic Fixed Income ETF	-0.02%	3.76%	0.24%
MUSE TCW Multisector Credit Income ETF	2.34%	8.25%	0.34%

Correlation

The correlation between DYFI and MUSE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Nov 19, 2024	0.46

Return for Risk

DYFI vs. MUSE — Risk / Return Rank

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

DYFI

DYFI Risk / Return Rank: 42
DYFI Sharpe Ratio Rank: 46
DYFI Sortino Ratio Rank: 45
DYFI Omega Ratio Rank: 49
DYFI Calmar Ratio Rank: 32
DYFI Martin Ratio Rank: 36

MUSE

MUSE Risk / Return Rank: 81
MUSE Sharpe Ratio Rank: 88
MUSE Sortino Ratio Rank: 93
MUSE Omega Ratio Rank: 94
MUSE Calmar Ratio Rank: 65
MUSE Martin Ratio Rank: 65

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.

DYFI vs. MUSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IDX Dynamic Fixed Income ETF (DYFI) and TCW Multisector Credit Income ETF (MUSE). 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.

	DYFI	MUSE	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.87	-1.30
Sortino ratio: Return per unit of downside risk	2.19	4.56	-2.36
Omega ratio: Gain probability vs. loss probability	1.30	1.67	-0.37
Calmar ratio: Return relative to maximum drawdown	1.56	3.18	-1.61
Martin ratio: Return relative to average drawdown	5.44	11.79	-6.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DYFI vs. MUSE - Sharpe Ratio Comparison

The current DYFI Sharpe Ratio is 1.58, which is lower than the MUSE Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of DYFI and MUSE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DYFI	MUSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	2.87	-1.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	1.86	-1.57

Drawdowns

DYFI vs. MUSE - Drawdown Comparison

The maximum DYFI drawdown since its inception was -4.54%, which is greater than MUSE's maximum drawdown of -3.63%. Use the drawdown chart below to compare losses from any high point for DYFI and MUSE.

Drawdown Indicators

	DYFI	MUSE	Difference
Max Drawdown Largest peak-to-trough decline	-4.54%	-3.63%	-0.91%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	-2.54%	+0.05%
Current Drawdown Current decline from peak	-0.97%	-0.06%	-0.91%
Average Drawdown Average peak-to-trough decline	-1.41%	-0.42%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	0.68%	+0.03%

Volatility

DYFI vs. MUSE - Volatility Comparison

IDX Dynamic Fixed Income ETF (DYFI) and TCW Multisector Credit Income ETF (MUSE) have volatilities of 0.87% and 0.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DYFI	MUSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	0.86%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.02%	2.40%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	2.47%	2.81%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.38%	3.86%	-0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.38%	3.86%	-0.48%

DYFI vs. MUSE - Expense Ratio Comparison

DYFI has a 1.33% expense ratio, which is higher than MUSE's 0.56% expense ratio.

Dividends

DYFI vs. MUSE - Dividend Comparison

DYFI's dividend yield for the trailing twelve months is around 4.62%, less than MUSE's 7.70% yield.

Position	TTM	2025	2024
DYFI IDX Dynamic Fixed Income ETF	4.62%	4.63%	5.93%
MUSE TCW Multisector Credit Income ETF	7.70%	7.35%	0.75%

Frequently Asked Questions

Can I hold both DYFI and MUSE in my portfolio?

DYFI and MUSE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DYFI or MUSE?

DYFI has higher volatility (0.87%) compared to MUSE (0.86%). In terms of maximum drawdown, DYFI dropped -4.54% vs MUSE's -3.63%.

Which ETF is better, DYFI or MUSE?

On 1-year performance, MUSE leads with 8.03% vs 3.88% for DYFI. On fees, MUSE is cheaper at 0.56% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DYFI or MUSE?

Over the 1-year period, MUSE has performed better with a 8.03% return vs 3.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DYFI or MUSE?

MUSE is cheaper with a 0.56% expense ratio, compared with 1.33% for DYFI.

Which ETF pays a higher dividend yield, DYFI or MUSE?

MUSE has the higher dividend yield at 7.70%, compared with 4.62% for DYFI.

What is the main difference between DYFI and MUSE?

They also come from different issuers: IDX and TCW. Their fees differ too: 1.33% for DYFI and 0.56% for MUSE.

Which has better risk-adjusted returns?

MUSE currently has the higher Sharpe Ratio (2.87 vs 1.58), 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.