EIBSX vs. FSMUX
EIBSX (Parametric TABS Short-Term Municipal Bond Fund) and FSMUX (Strategic Advisers Municipal Bond Fund) are both Municipal Bonds funds. Over the past 5 years, EIBSX returned 1.55%/yr vs 0.14%/yr for FSMUX. Their correlation of 0.80 means they have usually moved in the same direction. EIBSX charges 0.55%/yr vs 0.06%/yr for FSMUX.
Performance
EIBSX vs. FSMUX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with EIBSX at 0.31% and FSMUX at 0.31%.
EIBSX
- 1D
- -0.20%
- 1M
- -1.27%
- 6M
- -0.43%
- YTD
- 0.31%
- 1Y
- 3.41%
- 3Y*
- 3.87%
- 5Y*
- 1.55%
- 10Y*
- 1.89%
- ALL TIME*
- 2.30%
FSMUX
- 1D
- -0.23%
- 1M
- -1.91%
- 6M
- -0.02%
- YTD
- 0.31%
- 1Y
- 5.26%
- 3Y*
- 3.18%
- 5Y*
- 0.14%
- 10Y*
- —
- ALL TIME*
- 0.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
EIBSX vs. FSMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EIBSX Parametric TABS Short-Term Municipal Bond Fund | 0.31% | 6.85% | 2.14% | 4.24% | -4.76% | -0.06% |
FSMUX Strategic Advisers Municipal Bond Fund | 0.31% | 3.14% | 2.99% | 6.78% | -11.25% | 0.39% |
Correlation
The correlation between EIBSX and FSMUX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2021 | 0.80 |
The correlation between EIBSX and FSMUX has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.
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Return for Risk
EIBSX vs. FSMUX — Risk / Return Rank
EIBSX
FSMUX
EIBSX vs. FSMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Parametric TABS Short-Term Municipal Bond Fund (EIBSX) and Strategic Advisers Municipal Bond Fund (FSMUX). 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.
| EIBSX | FSMUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.53 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.53 | -0.58 |
| Martin ratioReturn relative to average drawdown | 6.13 | 8.83 | -2.70 |
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Drawdowns
EIBSX vs. FSMUX - Drawdown Comparison
The maximum EIBSX drawdown since its inception was -9.75%, smaller than the maximum FSMUX drawdown of -16.27%. Use the drawdown chart below to compare losses from any high point for EIBSX and FSMUX.
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Drawdown Indicators
| EIBSX | FSMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.75% | -16.27% | +6.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.12% | -2.68% | +0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -5.89% | +2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -8.99% | -16.23% | +7.24% |
Max Drawdown (10Y)Largest decline over 10 years | -9.75% | — | — |
Current DrawdownCurrent decline from peak | -1.46% | -1.91% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -5.30% | +3.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.75% | -0.08% |
Volatility
EIBSX vs. FSMUX - Volatility Comparison
The current volatility for Parametric TABS Short-Term Municipal Bond Fund (EIBSX) is 0.65%, while Strategic Advisers Municipal Bond Fund (FSMUX) has a volatility of 0.94%. This indicates that EIBSX experiences smaller price fluctuations and is considered to be less risky than FSMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIBSX | FSMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.94% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 2.27% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.01% | 3.17% | -1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 4.65% | -1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.02% | 4.59% | -1.57% |
EIBSX vs. FSMUX - Expense Ratio Comparison
EIBSX has a 0.55% expense ratio, which is higher than FSMUX's 0.06% expense ratio.
Dividends
EIBSX vs. FSMUX - Dividend Comparison
EIBSX's dividend yield for the trailing twelve months is around 2.98%, more than FSMUX's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIBSX Parametric TABS Short-Term Municipal Bond Fund | 2.98% | 4.18% | 3.81% | 2.14% | 1.62% | 1.41% | 3.17% | 2.05% | 1.75% | 1.63% | 2.15% | 2.08% |
FSMUX Strategic Advisers Municipal Bond Fund | 2.71% | 3.26% | 3.74% | 3.18% | 2.14% | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EIBSX and FSMUX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSMUX has higher volatility (0.94%) compared to EIBSX (0.65%). In terms of maximum drawdown, EIBSX dropped -9.75% vs FSMUX's -16.27%.
FSMUX currently has the higher Sharpe Ratio (2.14 vs 2.06), 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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