EIM vs. MMU
EIM (Eaton Vance Municipal Bond Fund) and MMU (Western Asset Managed Municipals Fund Inc) are both Municipal Bonds funds. Over the past 10 years, EIM returned 1.15%/yr vs 0.94%/yr for MMU. Their 0.40 correlation means their historical movements had little consistent relationship. EIM charges 0.01%/yr vs 0.01%/yr for MMU.
Performance
EIM vs. MMU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EIM achieves a 1.85% return, which is significantly higher than MMU's -0.31% return. Over the past 10 years, EIM has outperformed MMU with an annualized return of 1.15%, while MMU has yielded a comparatively lower 0.94% annualized return.
EIM
- 1D
- -0.52%
- 1M
- -3.62%
- 6M
- -0.71%
- YTD
- 1.85%
- 1Y
- 5.70%
- 3Y*
- 4.56%
- 5Y*
- -2.18%
- 10Y*
- 1.15%
- ALL TIME*
- 4.27%
MMU
- 1D
- -0.40%
- 1M
- -3.77%
- 6M
- -2.51%
- YTD
- -0.31%
- 1Y
- 7.96%
- 3Y*
- 6.58%
- 5Y*
- -0.64%
- 10Y*
- 0.94%
- ALL TIME*
- 5.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.52M | $1.46M | $1.31M | |
| $1.15M | $1.26M | $1.35M |
EIM vs. MMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIM Eaton Vance Municipal Bond Fund | 1.85% | -0.08% | 8.21% | 1.66% | -19.82% | 4.35% | 10.53% | 18.91% | -5.30% | 6.44% |
MMU Western Asset Managed Municipals Fund Inc | -0.31% | 9.19% | 6.58% | 5.63% | -19.58% | 5.83% | 0.71% | 10.08% | -4.55% | 8.30% |
Correlation
The correlation between EIM and MMU is 0.51, 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. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2002 | 0.40 |
The correlation between EIM and MMU shifts across timeframes, from 0.40 (all time) to 0.58 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EIM vs. MMU — Risk / Return Rank
EIM
MMU
EIM vs. MMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Municipal Bond Fund (EIM) and Western Asset Managed Municipals Fund Inc (MMU). 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.
| EIM | MMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.17 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.30 | -0.14 |
| Martin ratioReturn relative to average drawdown | 2.35 | 4.16 | -1.82 |
Loading charts...
Drawdowns
EIM vs. MMU - Drawdown Comparison
The maximum EIM drawdown since its inception was -52.50%, which is greater than MMU's maximum drawdown of -34.51%. Use the drawdown chart below to compare losses from any high point for EIM and MMU.
Loading charts...
Drawdown Indicators
| EIM | MMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.50% | -34.51% | -17.99% |
Max Drawdown (1Y)Largest decline over 1 year | -5.30% | -5.88% | +0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -11.57% | -10.51% | -1.06% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | -31.89% | +0.20% |
Max Drawdown (10Y)Largest decline over 10 years | -31.69% | -34.51% | +2.82% |
Current DrawdownCurrent decline from peak | -11.20% | -7.29% | -3.91% |
Average DrawdownAverage peak-to-trough decline | -8.38% | -6.83% | -1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 1.84% | +0.78% |
Volatility
EIM vs. MMU - Volatility Comparison
Eaton Vance Municipal Bond Fund (EIM) and Western Asset Managed Municipals Fund Inc (MMU) have volatilities of 2.45% and 2.57%, 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.
Loading charts...
Volatility by Period
| EIM | MMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.45% | 2.57% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 6.47% | 7.29% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.46% | 8.66% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.77% | 10.74% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.51% | 12.95% | -1.44% |
EIM vs. MMU - Expense Ratio Comparison
EIM has a 0.01% expense ratio, which is higher than MMU's 0.01% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EIM vs. MMU - Dividend Comparison
EIM's dividend yield for the trailing twelve months is around 6.38%, less than MMU's 6.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIM Eaton Vance Municipal Bond Fund | 6.38% | 6.27% | 5.65% | 4.07% | 4.87% | 4.38% | 4.29% | 4.00% | 4.98% | 5.48% | 5.64% | 5.90% |
MMU Western Asset Managed Municipals Fund Inc | 6.52% | 6.26% | 6.16% | 4.36% | 4.65% | 3.88% | 4.21% | 4.96% | 5.68% | 5.37% | 5.67% | 5.50% |
Frequently Asked Questions
EIM and MMU have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMU has higher volatility (2.57%) compared to EIM (2.45%). In terms of maximum drawdown, EIM dropped -52.50% vs MMU's -34.51%.
MMU currently has the higher Sharpe Ratio (0.89 vs 0.65), 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.
Find the right allocation for EIM and MMU
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer