IBMR vs. MKTN

Last updated Jul 14, 2026

IBMR (iShares iBonds Dec 2029 Term Muni Bond ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both exchange-traded funds - IBMR is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted 2029 Index, while MKTN is a Long-Short fund actively managed by Federated Hermes. IBMR is passively managed, while MKTN is actively managed. At a correlation of -0.16, they often move in opposite directions.

Performance

IBMR vs. MKTN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) and Federated Hermes MDT Market Neutral ETF (MKTN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMR achieves a 0.84% return, which is significantly lower than MKTN's 3.18% return.

IBMR

• 1D: -0.08%
• 1M: 0.13%
• 6M: 0.35%
• YTD: 0.84%
• 1Y: 2.90%
• 3Y*: 3.21%
• 5Y*: —
• 10Y*: —

MKTN

• 1D: 0.53%
• 1M: 2.84%
• 6M: 4.79%
• YTD: 3.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBMR vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF	0.84%	0.11%
MKTN Federated Hermes MDT Market Neutral ETF	3.18%	3.22%

Correlation

The correlation between IBMR and MKTN is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025	-0.16

Return for Risk

IBMR vs. MKTN — Risk / Return Rank

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

IBMR

IBMR Risk / Return Rank: 58
IBMR Sharpe Ratio Rank: 64
IBMR Sortino Ratio Rank: 67
IBMR Omega Ratio Rank: 74
IBMR Calmar Ratio Rank: 46
IBMR Martin Ratio Rank: 38

MKTN

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

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.

IBMR vs. MKTN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) and Federated Hermes MDT Market Neutral ETF (MKTN). 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.

	IBMR	MKTN	Difference
Sharpe ratio: Return per unit of total volatility	1.67	—	—
Sortino ratio: Return per unit of downside risk	2.43	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	1.88	—	—
Martin ratio: Return relative to average drawdown	4.74	—	—

Drawdowns

IBMR vs. MKTN - Drawdown Comparison

The maximum IBMR drawdown since its inception was -4.83%, which is greater than MKTN's maximum drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for IBMR and MKTN.

Drawdown Indicators

	IBMR	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-4.13%	-0.70%
Max Drawdown (1Y) Largest decline over 1 year	-1.55%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.72%	—	—
Current Drawdown Current decline from peak	-0.55%	0.00%	-0.55%
Average Drawdown Average peak-to-trough decline	-1.00%	-1.15%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	—	—

Volatility

Volatility by Period

	IBMR	MKTN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.75%	6.63%	-4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.02%	6.63%	-3.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.02%	6.63%	-3.61%

Dividends

IBMR vs. MKTN - Dividend Comparison

IBMR's dividend yield for the trailing twelve months is around 2.54%, more than MKTN's 0.49% yield.

Position	TTM	2025	2024	2023
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF	2.54%	2.55%	2.53%	1.27%
MKTN Federated Hermes MDT Market Neutral ETF	0.49%	0.51%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBMR and MKTN in my portfolio?

IBMR and MKTN have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, IBMR or MKTN?

IBMR has the higher dividend yield at 2.54%, compared with 0.49% for MKTN.

What is the main difference between IBMR and MKTN?

IBMR is categorized as Municipal Bonds, while MKTN is Long-Short. They also come from different issuers: iShares and Federated Hermes.