IBMM vs. MUNI

Last updated Jun 5, 2026

IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) and MUNI (PIMCO Intermediate Municipal Bond Active ETF) are both Municipal Bonds funds. IBMM is passively managed, while MUNI is actively managed. IBMM charges 0.18%/yr vs 0.35%/yr for MUNI.

Performance

IBMM vs. MUNI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUNI

• 1D: 0.08%
• 1M: 0.42%
• YTD: 1.32%
• 6M: 1.59%
• 1Y: 6.37%
• 3Y*: 3.94%
• 5Y*: 1.28%
• 10Y*: 2.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBMM vs. MUNI - Yearly Performance Comparison

	2026 (YTD)
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%
MUNI PIMCO Intermediate Municipal Bond Active ETF	0.10%

Return for Risk

IBMM vs. MUNI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MUNI

MUNI Risk / Return Rank: 76
MUNI Sharpe Ratio Rank: 87
MUNI Sortino Ratio Rank: 91
MUNI Omega Ratio Rank: 93
MUNI Calmar Ratio Rank: 57
MUNI Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBMM vs. MUNI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IBMM	MUNI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.84	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.78	—

Drawdowns

IBMM vs. MUNI - Drawdown Comparison

The maximum IBMM drawdown since its inception was 0.00%, smaller than the maximum MUNI drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for IBMM and MUNI.

Drawdown Indicators

	IBMM	MUNI	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-11.15%	+11.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.09%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-11.15%	—
Current Drawdown Current decline from peak	0.00%	-0.71%	+0.71%
Average Drawdown Average peak-to-trough decline	0.00%	-1.73%	+1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.70%	—

Volatility

Volatility by Period

	IBMM	MUNI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.77%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.60%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	2.27%	-2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	3.31%	-3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	3.85%	-3.85%

IBMM vs. MUNI - Expense Ratio Comparison

IBMM has a 0.18% expense ratio, which is lower than MUNI's 0.35% expense ratio.

Dividends

IBMM vs. MUNI - Dividend Comparison

IBMM has not paid dividends to shareholders, while MUNI's dividend yield for the trailing twelve months is around 3.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MUNI PIMCO Intermediate Municipal Bond Active ETF	3.28%	3.26%	3.50%	3.09%	2.13%	1.62%	1.92%	2.44%	2.38%	2.37%	2.37%	2.20%

Frequently Asked Questions

Which ETF is better, IBMM or MUNI?

On fees, IBMM is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMM or MUNI?

IBMM is cheaper with a 0.18% expense ratio, compared with 0.35% for MUNI.

Which ETF pays a higher dividend yield, IBMM or MUNI?

MUNI has the higher dividend yield at 3.28%, compared with 0.00% for IBMM.

What is the main difference between IBMM and MUNI?

They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.18% for IBMM and 0.35% for MUNI.