EINC vs. MMIT
EINC (VanEck Energy Income ETF) and MMIT (IQ MacKay Municipal Intermediate ETF) are both exchange-traded funds - EINC is a Energy Equities fund tracking the MVIS North America Energy Infrastructure Index, while MMIT is a Municipal Bonds fund actively managed by New York Life. EINC is passively managed, while MMIT is actively managed. Over the past 5 years, EINC returned 22.71%/yr vs 0.83%/yr for MMIT. Their -0.00 correlation means they have often moved in opposite directions in the past. EINC charges 0.46%/yr vs 0.31%/yr for MMIT.
Performance
EINC vs. MMIT - Performance Comparison
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Returns By Period
In the year-to-date period, EINC achieves a 28.58% return, which is significantly higher than MMIT's 0.42% return.
EINC
- 1D
- 0.38%
- 1M
- 3.68%
- 6M
- 19.53%
- YTD
- 28.58%
- 1Y
- 30.49%
- 3Y*
- 27.39%
- 5Y*
- 22.71%
- 10Y*
- 11.84%
- ALL TIME*
- 1.07%
MMIT
- 1D
- -0.03%
- 1M
- -1.54%
- 6M
- -0.46%
- YTD
- 0.42%
- 1Y
- 4.12%
- 3Y*
- 3.28%
- 5Y*
- 0.83%
- 10Y*
- —
- ALL TIME*
- 2.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.20M | $2.80M | $2.21M | |
| $5.72M | $6.35M | $8.75M |
EINC vs. MMIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EINC VanEck Energy Income ETF | 28.58% | 7.11% | 42.79% | 15.55% | 19.18% | 38.05% | -19.89% | 16.98% | -19.85% | -2.02% |
MMIT IQ MacKay Municipal Intermediate ETF | 0.42% | 5.03% | 1.46% | 5.42% | -7.40% | 1.55% | 6.17% | 7.49% | 2.41% | 0.43% |
Correlation
The correlation between EINC and MMIT is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2017 | -0.00 |
Over the past year, the inverse relationship between EINC and MMIT has strengthened: their correlation has moved from -0.00 to -0.24, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
EINC vs. MMIT — Risk / Return Rank
EINC
MMIT
EINC vs. MMIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Energy Income ETF (EINC) and IQ MacKay Municipal Intermediate ETF (MMIT). 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.
| EINC | MMIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | 1.79 | +2.09 |
| Martin ratioReturn relative to average drawdown | 9.46 | 5.50 | +3.96 |
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Drawdowns
EINC vs. MMIT - Drawdown Comparison
The maximum EINC drawdown since its inception was -87.55%, which is greater than MMIT's maximum drawdown of -12.28%. Use the drawdown chart below to compare losses from any high point for EINC and MMIT.
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Drawdown Indicators
| EINC | MMIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.55% | -12.28% | -75.27% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -2.59% | -5.30% |
Max Drawdown (3Y)Largest decline over 3 years | -16.01% | -3.65% | -12.36% |
Max Drawdown (5Y)Largest decline over 5 years | -19.87% | -12.28% | -7.59% |
Max Drawdown (10Y)Largest decline over 10 years | -68.85% | — | — |
Current DrawdownCurrent decline from peak | -2.52% | -1.73% | -0.79% |
Average DrawdownAverage peak-to-trough decline | -43.84% | -2.24% | -41.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 0.84% | +2.38% |
Volatility
EINC vs. MMIT - Volatility Comparison
VanEck Energy Income ETF (EINC) has a higher volatility of 5.57% compared to IQ MacKay Municipal Intermediate ETF (MMIT) at 0.82%. This indicates that EINC's price experiences larger fluctuations and is considered to be riskier than MMIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EINC | MMIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.57% | 0.82% | +4.75% |
Volatility (6M)Calculated over the trailing 6-month period | 12.63% | 1.85% | +10.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.42% | 2.57% | +12.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.49% | 3.56% | +15.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.33% | 4.28% | +21.05% |
EINC vs. MMIT - Expense Ratio Comparison
EINC has a 0.46% expense ratio, which is higher than MMIT's 0.31% expense ratio.
Dividends
EINC vs. MMIT - Dividend Comparison
EINC's dividend yield for the trailing twelve months is around 3.44%, less than MMIT's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EINC VanEck Energy Income ETF | 2.47% | 4.51% | 3.33% | 3.77% | 2.89% | 6.03% | 6.69% | 9.66% | 11.31% | 8.53% | 9.71% | 28.53% |
MMIT IQ MacKay Municipal Intermediate ETF | 3.67% | 3.54% | 3.76% | 3.46% | 2.30% | 1.81% | 2.59% | 4.14% | 2.46% | 0.35% | 0.00% | 0.00% |
Frequently Asked Questions
EINC and MMIT 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.
EINC has higher volatility (5.57%) compared to MMIT (0.82%). In terms of maximum drawdown, EINC dropped -87.55% vs MMIT's -12.28%.
On 5-year performance, EINC leads with 22.71% vs 0.83% for MMIT. On fees, MMIT is cheaper at 0.31% per year. On volatility, MMIT has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EINC has performed better with a 22.71% return vs 0.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MMIT is cheaper with a 0.31% expense ratio, compared with 0.46% for EINC.
MMIT has the higher dividend yield at 3.67%, compared with 2.47% for EINC.
EINC is categorized as Energy Equities, while MMIT is Municipal Bonds. They also come from different issuers: VanEck and New York Life. Their fees differ too: 0.46% for EINC and 0.31% for MMIT.
EINC currently has the higher Sharpe Ratio (1.98 vs 1.81), 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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