GII vs. MUB
GII (SPDR S&P Global Infrastructure ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both exchange-traded funds - GII is a Utilities Equities fund tracking the S&P Global Infrastructure, 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, GII returned 8.22%/yr vs 1.94%/yr for MUB. At a 0.05 correlation, their price movements are largely independent. GII charges 0.40%/yr vs 0.07%/yr for MUB.
Performance
GII vs. MUB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GII achieves a 6.75% return, which is significantly higher than MUB's 1.17% return. Over the past 10 years, GII has outperformed MUB with an annualized return of 8.22%, while MUB has yielded a comparatively lower 1.94% annualized return.
GII
- 1D
- -0.87%
- 1M
- -2.02%
- YTD
- 6.75%
- 6M
- 7.80%
- 1Y
- 13.78%
- 3Y*
- 15.30%
- 5Y*
- 9.70%
- 10Y*
- 8.22%
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%
GII vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GII SPDR S&P Global Infrastructure ETF | 6.75% | 21.79% | 14.30% | 5.90% | -0.54% | 11.39% | -6.81% | 26.32% | -10.08% | 19.07% |
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 GII and MUB is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2007 | 0.05 |
Over the past year, GII and MUB have become more correlated (0.26) than their long-term average of 0.05, 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
GII vs. MUB — Risk / Return Rank
GII
MUB
GII vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Global Infrastructure ETF (GII) 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.
| GII | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.51 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.52 | -0.19 |
| Martin ratioReturn relative to average drawdown | 7.00 | 8.85 | -1.85 |
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
| GII | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 2.42 | -1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.19 | +0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.39 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.58 | -0.30 |
Drawdowns
GII vs. MUB - Drawdown Comparison
The maximum GII drawdown since its inception was -50.98%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for GII and MUB.
Loading charts...
Drawdown Indicators
| GII | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.98% | -13.68% | -37.30% |
Max Drawdown (1Y)Largest decline over 1 year | -5.94% | -2.79% | -3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -5.34% | -8.97% |
Max Drawdown (5Y)Largest decline over 5 years | -20.67% | -11.88% | -8.79% |
Max Drawdown (10Y)Largest decline over 10 years | -42.84% | -13.68% | -29.16% |
Current DrawdownCurrent decline from peak | -5.42% | -0.77% | -4.65% |
Average DrawdownAverage peak-to-trough decline | -11.51% | -2.23% | -9.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 0.79% | +1.18% |
Volatility
GII vs. MUB - Volatility Comparison
SPDR S&P Global Infrastructure ETF (GII) has a higher volatility of 3.74% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.99%. This indicates that GII's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GII | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 0.99% | +2.75% |
Volatility (6M)Calculated over the trailing 6-month period | 8.87% | 2.23% | +6.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.81% | 2.90% | +7.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.11% | 4.06% | +10.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.15% | 4.92% | +12.23% |
GII vs. MUB - Expense Ratio Comparison
GII has a 0.40% expense ratio, which is higher than MUB's 0.07% expense ratio.
Dividends
GII vs. MUB - Dividend Comparison
GII's dividend yield for the trailing twelve months is around 2.74%, less than MUB's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GII SPDR S&P Global Infrastructure ETF | 2.74% | 3.17% | 3.23% | 3.70% | 3.07% | 2.37% | 2.66% | 3.39% | 3.31% | 3.38% | 3.11% | 3.54% |
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
GII and MUB have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GII has higher volatility (3.74%) compared to MUB (0.99%). In terms of maximum drawdown, GII dropped -50.98% vs MUB's -13.68%.
On 10-year performance, GII leads with 8.22% vs 1.94% for MUB. On fees, MUB is cheaper at 0.07% per year. On volatility, MUB has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GII has performed better with a 8.22% 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 0.40% for GII.
MUB has the higher dividend yield at 3.18%, compared with 2.74% for GII.
GII is categorized as Utilities Equities, while MUB is Municipal Bonds. GII tracks S&P Global Infrastructure, while MUB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for GII and 0.07% for MUB.
MUB currently has the higher Sharpe Ratio (2.42 vs 1.28), 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 GII 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