EVIM vs. MUB
EVIM (Eaton Vance Intermediate Municipal Income ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both Municipal Bonds funds. EVIM is actively managed, while MUB is passively managed. Over the past year, EVIM returned 8.07% vs 6.95% for MUB. Their correlation of 0.85 suggests significant overlap in exposure. EVIM charges 0.29%/yr vs 0.07%/yr for MUB.
Performance
EVIM vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, EVIM achieves a 1.40% return, which is significantly higher than MUB's 1.24% return.
EVIM
- 1D
- 0.15%
- 1M
- 0.72%
- YTD
- 1.40%
- 6M
- 1.93%
- 1Y
- 8.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUB
- 1D
- -0.08%
- 1M
- 0.56%
- YTD
- 1.24%
- 6M
- 1.74%
- 1Y
- 6.95%
- 3Y*
- 3.43%
- 5Y*
- 0.86%
- 10Y*
- 2.00%
EVIM vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EVIM Eaton Vance Intermediate Municipal Income ETF | 1.40% | 5.85% | 1.65% | 6.88% |
MUB iShares National AMT-Free Muni Bond ETF | 1.24% | 3.78% | 1.26% | 8.01% |
Correlation
The correlation between EVIM and MUB is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023 | 0.85 |
The correlation between EVIM and MUB has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.
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Return for Risk
EVIM vs. MUB — Risk / Return Rank
EVIM
MUB
EVIM vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Intermediate Municipal Income ETF (EVIM) 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.
| EVIM | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.50 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 2.50 | +0.15 |
| Martin ratioReturn relative to average drawdown | 8.63 | 8.85 | -0.22 |
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
| EVIM | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.89 | 2.39 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.21 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.58 | 0.58 | +0.99 |
Drawdowns
EVIM vs. MUB - Drawdown Comparison
The maximum EVIM drawdown since its inception was -4.23%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for EVIM and MUB.
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Drawdown Indicators
| EVIM | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.23% | -13.68% | +9.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -2.79% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -0.99% | -0.70% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -0.88% | -2.23% | +1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.79% | +0.15% |
Volatility
EVIM vs. MUB - Volatility Comparison
The current volatility for Eaton Vance Intermediate Municipal Income ETF (EVIM) is 0.85%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 0.97%. This indicates that EVIM experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVIM | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.97% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | 2.22% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.81% | 2.92% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.86% | 4.06% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.86% | 4.92% | -1.06% |
EVIM vs. MUB - Expense Ratio Comparison
EVIM has a 0.29% expense ratio, which is higher than MUB's 0.07% expense ratio.
Dividends
EVIM vs. MUB - Dividend Comparison
EVIM's dividend yield for the trailing twelve months is around 3.55%, more than MUB's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVIM Eaton Vance Intermediate Municipal Income ETF | 3.55% | 3.58% | 3.56% | 0.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 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
EVIM and MUB have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUB has higher volatility (0.97%) compared to EVIM (0.85%). In terms of maximum drawdown, EVIM dropped -4.23% vs MUB's -13.68%.
On 1-year performance, EVIM leads with 8.07% vs 6.95% for MUB. On fees, MUB is cheaper at 0.07% per year. On volatility, EVIM has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EVIM has performed better with a 8.07% return vs 6.95%. 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 0.29% for EVIM.
EVIM has the higher dividend yield at 3.55%, compared with 3.17% for MUB.
They also come from different issuers: Eaton Vance and iShares. Their fees differ too: 0.29% for EVIM and 0.07% for MUB.
EVIM currently has the higher Sharpe Ratio (2.89 vs 2.39), 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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