GBAB vs. BAB
Compare and contrast key facts about Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) and Invesco Taxable Municipal Bond ETF (BAB).
BAB is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Build America Bond Index. It was launched on Nov 17, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GBAB or BAB.
Key characteristics
| GBAB | BAB | |
|---|---|---|
| YTD Return | 6.45% | 1.81% |
| 1Y Return | 13.07% | 8.36% |
| 3Y Return (Ann) | -4.30% | -3.57% |
| 5Y Return (Ann) | 0.05% | -0.40% |
| 10Y Return (Ann) | 4.37% | 2.59% |
| Sharpe Ratio | 0.98 | 0.99 |
| Sortino Ratio | 1.54 | 1.48 |
| Omega Ratio | 1.17 | 1.18 |
| Calmar Ratio | 0.49 | 0.40 |
| Martin Ratio | 2.84 | 3.39 |
| Ulcer Index | 4.59% | 2.26% |
| Daily Std Dev | 13.32% | 7.73% |
| Max Drawdown | -35.81% | -27.80% |
| Current Drawdown | -17.33% | -12.31% |
Correlation
The correlation between GBAB and BAB is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
GBAB vs. BAB - Performance Comparison
In the year-to-date period, GBAB achieves a 6.45% return, which is significantly higher than BAB's 1.81% return. Over the past 10 years, GBAB has outperformed BAB with an annualized return of 4.37%, while BAB has yielded a comparatively lower 2.59% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
GBAB vs. BAB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) and Invesco Taxable Municipal Bond ETF (BAB). 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.
Dividends
GBAB vs. BAB - Dividend Comparison
GBAB's dividend yield for the trailing twelve months is around 9.46%, more than BAB's 3.88% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBAB Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust | 9.46% | 9.34% | 9.24% | 6.37% | 5.93% | 6.39% | 6.89% | 6.65% | 7.51% | 7.77% | 7.47% | 8.31% |
BAB Invesco Taxable Municipal Bond ETF | 3.88% | 3.66% | 3.40% | 2.63% | 2.96% | 3.77% | 4.20% | 3.96% | 4.27% | 4.71% | 4.59% | 5.19% |
Drawdowns
GBAB vs. BAB - Drawdown Comparison
The maximum GBAB drawdown since its inception was -35.81%, which is greater than BAB's maximum drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for GBAB and BAB. For additional features, visit the drawdowns tool.
Volatility
GBAB vs. BAB - Volatility Comparison
Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) has a higher volatility of 3.44% compared to Invesco Taxable Municipal Bond ETF (BAB) at 1.78%. This indicates that GBAB's price experiences larger fluctuations and is considered to be riskier than BAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.