ECON vs. MUST
ECON (Columbia Emerging Markets Consumer ETF) and MUST (Columbia Multi-Sector Municipal Income ETF) are both exchange-traded funds - ECON is a Emerging Markets Equities fund tracking the Dow Jones Emerging Markets Consumer Titans Index, while MUST is a Money Market fund tracking the Bloomberg Beta Advantage Multi-Sector Municipal Bond Index. Both are passively managed. Over the past 5 years, ECON returned 7.11%/yr vs 0.87%/yr for MUST. At a 0.09 correlation, their price movements are largely independent. ECON charges 0.49%/yr vs 0.23%/yr for MUST.
Performance
ECON vs. MUST - Performance Comparison
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Returns By Period
In the year-to-date period, ECON achieves a 35.02% return, which is significantly higher than MUST's 1.60% return.
ECON
- 1D
- -1.24%
- 1M
- 13.52%
- YTD
- 35.02%
- 6M
- 38.26%
- 1Y
- 65.21%
- 3Y*
- 23.87%
- 5Y*
- 7.11%
- 10Y*
- 6.10%
MUST
- 1D
- 0.15%
- 1M
- 1.08%
- YTD
- 1.60%
- 6M
- 1.55%
- 1Y
- 7.14%
- 3Y*
- 3.82%
- 5Y*
- 0.87%
- 10Y*
- —
ECON vs. MUST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ECON Columbia Emerging Markets Consumer ETF | 35.02% | 34.15% | 0.22% | 7.51% | -16.00% | -14.11% | 20.83% | 17.22% | 1.79% |
MUST Columbia Multi-Sector Municipal Income ETF | 1.60% | 4.92% | 0.37% | 6.23% | -8.82% | 1.93% | 6.67% | 8.35% | 2.72% |
Correlation
The correlation between ECON and MUST is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2018 | 0.09 |
The correlation between ECON and MUST shifts across timeframes, from 0.09 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ECON vs. MUST — Risk / Return Rank
ECON
MUST
ECON vs. MUST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Emerging Markets Consumer ETF (ECON) and Columbia Multi-Sector Municipal Income ETF (MUST). 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.
| ECON | MUST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.83 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.26 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 4.76 | 2.38 | +2.38 |
| Martin ratioReturn relative to average drawdown | 17.83 | 6.52 | +11.30 |
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
| ECON | MUST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.22 | 1.39 | +1.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.16 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.54 | -0.30 |
Drawdowns
ECON vs. MUST - Drawdown Comparison
The maximum ECON drawdown since its inception was -45.37%, which is greater than MUST's maximum drawdown of -13.83%. Use the drawdown chart below to compare losses from any high point for ECON and MUST.
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Drawdown Indicators
| ECON | MUST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.37% | -13.83% | -31.54% |
Max Drawdown (1Y)Largest decline over 1 year | -13.76% | -3.01% | -10.75% |
Max Drawdown (3Y)Largest decline over 3 years | -16.37% | -6.08% | -10.29% |
Max Drawdown (5Y)Largest decline over 5 years | -38.08% | -13.83% | -24.25% |
Max Drawdown (10Y)Largest decline over 10 years | -45.37% | — | — |
Current DrawdownCurrent decline from peak | -1.24% | -0.94% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -16.65% | -3.41% | -13.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 1.10% | +2.57% |
Volatility
ECON vs. MUST - Volatility Comparison
Columbia Emerging Markets Consumer ETF (ECON) has a higher volatility of 9.10% compared to Columbia Multi-Sector Municipal Income ETF (MUST) at 1.80%. This indicates that ECON's price experiences larger fluctuations and is considered to be riskier than MUST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECON | MUST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.10% | 1.80% | +7.30% |
Volatility (6M)Calculated over the trailing 6-month period | 17.65% | 3.60% | +14.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.38% | 5.17% | +15.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.28% | 5.44% | +14.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.03% | 5.59% | +15.44% |
ECON vs. MUST - Expense Ratio Comparison
ECON has a 0.49% expense ratio, which is higher than MUST's 0.23% expense ratio.
Dividends
ECON vs. MUST - Dividend Comparison
ECON's dividend yield for the trailing twelve months is around 1.31%, less than MUST's 3.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECON Columbia Emerging Markets Consumer ETF | 1.31% | 1.77% | 0.76% | 1.57% | 2.06% | 1.08% | 0.63% | 1.68% | 0.98% | 0.35% | 0.74% | 1.10% |
MUST Columbia Multi-Sector Municipal Income ETF | 3.32% | 3.28% | 3.13% | 2.51% | 1.76% | 1.62% | 2.33% | 2.70% | 0.55% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ECON and MUST have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECON has higher volatility (9.10%) compared to MUST (1.80%). In terms of maximum drawdown, ECON dropped -45.37% vs MUST's -13.83%.
On 5-year performance, ECON leads with 7.11% vs 0.87% for MUST. On fees, MUST is cheaper at 0.23% per year. On volatility, MUST has been the lower-risk option at 1.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ECON has performed better with a 7.11% return vs 0.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUST is cheaper with a 0.23% expense ratio, compared with 0.49% for ECON.
MUST has the higher dividend yield at 3.32%, compared with 1.31% for ECON.
ECON is categorized as Emerging Markets Equities, while MUST is Money Market. ECON tracks Dow Jones Emerging Markets Consumer Titans Index, while MUST tracks Bloomberg Beta Advantage Multi-Sector Municipal Bond Index. Their fees differ too: 0.49% for ECON and 0.23% for MUST.
ECON currently has the higher Sharpe Ratio (3.22 vs 1.39), 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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