EUHY vs. MUB
EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both exchange-traded funds - EUHY is a High Yield Bonds fund tracking the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 10 years, EUHY returned 3.68%/yr vs 1.94%/yr for MUB. At a 0.17 correlation, their price movements are largely independent. EUHY charges 0.35%/yr vs 0.07%/yr for MUB.
Performance
EUHY vs. MUB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EUHY achieves a 1.70% return, which is significantly higher than MUB's 1.17% return. Over the past 10 years, EUHY has outperformed MUB with an annualized return of 3.68%, while MUB has yielded a comparatively lower 1.94% annualized return.
EUHY
- 1D
- -0.12%
- 1M
- 0.05%
- YTD
- 1.70%
- 6M
- 2.27%
- 1Y
- 5.47%
- 3Y*
- 9.44%
- 5Y*
- 1.82%
- 10Y*
- 3.68%
MUB
- 1D
- -0.03%
- 1M
- 0.21%
- YTD
- 1.17%
- 6M
- 1.69%
- 1Y
- 6.99%
- 3Y*
- 3.29%
- 5Y*
- 0.77%
- 10Y*
- 1.94%
EUHY vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 1.70% | 17.41% | -0.55% | 16.06% | -15.59% | -3.78% | 10.69% | 8.60% | -7.71% | 19.68% |
MUB iShares National AMT-Free Muni Bond ETF | 1.17% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
Correlation
The correlation between EUHY and MUB is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2012 | 0.17 |
Over the past year, EUHY and MUB have become more correlated (0.40) than their long-term average of 0.17, meaning their price movements have been converging.
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
EUHY vs. MUB — Risk / Return Rank
EUHY
MUB
EUHY vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| EUHY | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -2.09 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.51 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 2.52 | -0.95 |
| Martin ratioReturn relative to average drawdown | 3.75 | 8.85 | -5.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EUHY | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 2.42 | -1.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.19 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.39 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.58 | -0.24 |
Drawdowns
EUHY vs. MUB - Drawdown Comparison
The maximum EUHY drawdown since its inception was -32.45%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for EUHY and MUB.
Loading charts...
Drawdown Indicators
| EUHY | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.45% | -13.68% | -18.77% |
Max Drawdown (1Y)Largest decline over 1 year | -3.50% | -2.79% | -0.71% |
Max Drawdown (3Y)Largest decline over 3 years | -8.23% | -5.34% | -2.89% |
Max Drawdown (5Y)Largest decline over 5 years | -32.45% | -11.88% | -20.57% |
Max Drawdown (10Y)Largest decline over 10 years | -32.45% | -13.68% | -18.77% |
Current DrawdownCurrent decline from peak | -0.38% | -0.77% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -2.23% | -6.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 0.79% | +0.67% |
Volatility
EUHY vs. MUB - Volatility Comparison
iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) and iShares National AMT-Free Muni Bond ETF (MUB) have volatilities of 1.03% and 0.99%, 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
| EUHY | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 0.99% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.23% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.51% | 2.90% | +2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.00% | 4.06% | +5.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.42% | 4.92% | +5.50% |
EUHY vs. MUB - Expense Ratio Comparison
EUHY has a 0.35% expense ratio, which is higher than MUB's 0.07% expense ratio.
Dividends
EUHY vs. MUB - Dividend Comparison
EUHY's dividend yield for the trailing twelve months is around 5.35%, more than MUB's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 5.35% | 3.56% | 5.11% | 3.38% | 0.61% | 3.07% | 1.45% | 1.19% | 4.01% | 0.69% | 1.70% | 3.24% |
MUB iShares National AMT-Free Muni Bond ETF | 3.18% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Frequently Asked Questions
EUHY and MUB have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EUHY has higher volatility (1.03%) compared to MUB (0.99%). In terms of maximum drawdown, EUHY dropped -32.45% vs MUB's -13.68%.
On 10-year performance, EUHY leads with 3.68% vs 1.94% for MUB. On fees, MUB is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EUHY has performed better with a 3.68% return vs 1.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUB is cheaper with a 0.07% expense ratio, compared with 0.35% for EUHY.
EUHY has the higher dividend yield at 5.35%, compared with 3.18% for MUB.
EUHY is categorized as High Yield Bonds, while MUB is Municipal Bonds. EUHY tracks BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while MUB tracks S&P National AMT-Free Municipal Bond Index. Their fees differ too: 0.35% for EUHY and 0.07% for MUB.
MUB currently has the higher Sharpe Ratio (2.42 vs 1.00), 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 EUHY and MUB
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