IBMP vs. MUNY

Last updated Jun 23, 2026

IBMP (iShares iBonds Dec 2027 Term Muni Bond ETF) and MUNY (Vanguard New York Tax-Exempt Bond ETF) are both Municipal Bonds funds - IBMP tracks the S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series Index while MUNY tracks the S&P New York AMT-Free Municipal USD10 Million Par Bond Index. Both are passively managed. Over the past year, IBMP returned 2.89% vs 6.68% for MUNY. At a 0.34 correlation, their price movements are largely independent. IBMP charges 0.18%/yr vs 0.09%/yr for MUNY.

Performance

IBMP vs. MUNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) and Vanguard New York Tax-Exempt Bond ETF (MUNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMP achieves a 1.01% return, which is significantly lower than MUNY's 1.81% return.

IBMP

• 1D: -0.02%
• 1M: 0.17%
• YTD: 1.01%
• 6M: 1.09%
• 1Y: 2.89%
• 3Y*: 2.77%
• 5Y*: 0.64%
• 10Y*: —

MUNY

• 1D: 0.08%
• 1M: 1.52%
• YTD: 1.81%
• 6M: 2.07%
• 1Y: 6.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBMP vs. MUNY - Yearly Performance Comparison

	2026 (YTD)	2025
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF	1.01%	2.48%
MUNY Vanguard New York Tax-Exempt Bond ETF	1.81%	5.60%

Correlation

The correlation between IBMP and MUNY is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 22, 2025	0.34

Return for Risk

IBMP vs. MUNY — Risk / Return Rank

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

IBMP

IBMP Risk / Return Rank: 86
IBMP Sharpe Ratio Rank: 87
IBMP Sortino Ratio Rank: 92
IBMP Omega Ratio Rank: 91
IBMP Calmar Ratio Rank: 88
IBMP Martin Ratio Rank: 74

MUNY

MUNY Risk / Return Rank: 69
MUNY Sharpe Ratio Rank: 76
MUNY Sortino Ratio Rank: 79
MUNY Omega Ratio Rank: 88
MUNY Calmar Ratio Rank: 52
MUNY Martin Ratio Rank: 50

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.

IBMP vs. MUNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) and Vanguard New York Tax-Exempt Bond ETF (MUNY). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IBMP	MUNY	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.32	+0.39
Sortino ratio: Return per unit of downside risk	4.16	3.34	+0.82
Omega ratio: Gain probability vs. loss probability	1.57	1.53	+0.04
Calmar ratio: Return relative to maximum drawdown	4.89	2.48	+2.41
Martin ratio: Return relative to average drawdown	13.55	8.34	+5.21

IBMP vs. MUNY - Sharpe Ratio Comparison

The current IBMP Sharpe Ratio is 2.71, which is comparable to the MUNY Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of IBMP and MUNY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBMP vs. MUNY - Drawdown Comparison

The maximum IBMP drawdown since its inception was -15.24%, which is greater than MUNY's maximum drawdown of -2.70%. Use the drawdown chart below to compare losses from any high point for IBMP and MUNY.

Drawdown Indicators

	IBMP	MUNY	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-2.70%	-12.54%
Max Drawdown (1Y) Largest decline over 1 year	-0.59%	-2.70%	+2.11%
Max Drawdown (3Y) Largest decline over 3 years	-2.63%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.00%	—	—
Current Drawdown Current decline from peak	-0.08%	-0.19%	+0.11%
Average Drawdown Average peak-to-trough decline	-2.70%	-0.65%	-2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.80%	-0.59%

Volatility

IBMP vs. MUNY - Volatility Comparison

The current volatility for iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) is 0.25%, while Vanguard New York Tax-Exempt Bond ETF (MUNY) has a volatility of 0.73%. This indicates that IBMP experiences smaller price fluctuations and is considered to be less risky than MUNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBMP	MUNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	0.73%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	0.77%	2.35%	-1.58%
Volatility (1Y) Calculated over the trailing 1-year period	1.07%	2.90%	-1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.56%	3.87%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	3.87%	+1.12%

IBMP vs. MUNY - Expense Ratio Comparison

IBMP has a 0.18% expense ratio, which is higher than MUNY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IBMP vs. MUNY - Dividend Comparison

IBMP's dividend yield for the trailing twelve months is around 2.50%, less than MUNY's 3.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF	2.50%	2.47%	2.35%	2.05%	1.26%	0.86%	1.16%	1.06%
MUNY Vanguard New York Tax-Exempt Bond ETF	3.10%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBMP and MUNY in my portfolio?

IBMP and MUNY have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBMP or MUNY?

MUNY has higher volatility (0.73%) compared to IBMP (0.25%). In terms of maximum drawdown, IBMP dropped -15.24% vs MUNY's -2.70%.

Which ETF is better, IBMP or MUNY?

On 1-year performance, MUNY leads with 6.68% vs 2.89% for IBMP. On fees, MUNY is cheaper at 0.09% per year. On volatility, IBMP has been the lower-risk option at 0.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBMP or MUNY?

Over the 1-year period, MUNY has performed better with a 6.68% return vs 2.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBMP or MUNY?

MUNY is cheaper with a 0.09% expense ratio, compared with 0.18% for IBMP.

Which ETF pays a higher dividend yield, IBMP or MUNY?

MUNY has the higher dividend yield at 3.10%, compared with 2.50% for IBMP.

What is the main difference between IBMP and MUNY?

IBMP tracks S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series Index, while MUNY tracks S&P New York AMT-Free Municipal USD10 Million Par Bond Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.18% for IBMP and 0.09% for MUNY.

Which has better risk-adjusted returns?

IBMP currently has the higher Sharpe Ratio (2.71 vs 2.32), 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.