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IEI vs. MMIT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

IEI vs. MMIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 3-7 Year Treasury Bond ETF (IEI) and IQ MacKay Municipal Intermediate ETF (MMIT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IEI achieves a -0.42% return, which is significantly lower than MMIT's 1.40% return.


IEI

1D
-0.13%
1M
-0.17%
YTD
-0.42%
6M
-0.49%
1Y
3.28%
3Y*
3.52%
5Y*
0.23%
10Y*
1.28%

MMIT

1D
-0.04%
1M
0.50%
YTD
1.40%
6M
1.79%
1Y
6.45%
3Y*
3.85%
5Y*
1.11%
10Y*
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEI vs. MMIT - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
IEI
iShares 3-7 Year Treasury Bond ETF
-0.42%6.96%1.81%4.42%-9.51%-2.54%6.95%5.71%1.36%-0.43%
MMIT
IQ MacKay Municipal Intermediate ETF
1.40%5.03%1.46%5.42%-7.40%1.55%6.17%7.49%2.41%0.43%

Correlation

The correlation between IEI and MMIT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.62

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Oct 19, 2017

0.51

The correlation between IEI and MMIT shifts across timeframes, from 0.48 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.

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Return for Risk

IEI vs. MMIT — Risk / Return Rank

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

IEI
IEI Risk / Return Rank: 2828
Overall Rank
IEI Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
IEI Sortino Ratio Rank: 3030
Sortino Ratio Rank
IEI Omega Ratio Rank: 2727
Omega Ratio Rank
IEI Calmar Ratio Rank: 2727
Calmar Ratio Rank
IEI Martin Ratio Rank: 2727
Martin Ratio Rank

MMIT
MMIT Risk / Return Rank: 7070
Overall Rank
MMIT Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
MMIT Sortino Ratio Rank: 8484
Sortino Ratio Rank
MMIT Omega Ratio Rank: 8686
Omega Ratio Rank
MMIT Calmar Ratio Rank: 5151
Calmar Ratio Rank
MMIT Martin Ratio Rank: 5151
Martin Ratio Rank
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.

IEI vs. MMIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 3-7 Year Treasury Bond ETF (IEI) and IQ MacKay Municipal Intermediate ETF (MMIT). 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.


IEIMMITDifference
Sharpe ratioReturn per unit of total volatility

-1.47

Sortino ratioReturn per unit of downside risk

-2.14

Omega ratioGain probability vs. loss probability

1.19

1.53

-0.34

Calmar ratioReturn relative to maximum drawdown

1.32

2.50

-1.18

Martin ratioReturn relative to average drawdown

3.96

8.50

-4.54

IEI vs. MMIT - Sharpe Ratio Comparison

The current IEI Sharpe Ratio is 1.09, which is lower than the MMIT Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of IEI and MMIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Sharpe Ratios by Period


IEIMMITDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.09

2.56

-1.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.05

0.32

-0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.33

Sharpe Ratio (All Time)

Calculated using the full available price history

0.70

0.63

+0.07

Drawdowns

IEI vs. MMIT - Drawdown Comparison

The maximum IEI drawdown since its inception was -14.60%, which is greater than MMIT's maximum drawdown of -12.28%. Use the drawdown chart below to compare losses from any high point for IEI and MMIT.


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Drawdown Indicators


IEIMMITDifference

Max Drawdown

Largest peak-to-trough decline

-14.60%

-12.28%

-2.32%

Max Drawdown (1Y)

Largest decline over 1 year

-2.50%

-2.59%

+0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-3.66%

-3.96%

+0.30%

Max Drawdown (5Y)

Largest decline over 5 years

-13.88%

-12.28%

-1.60%

Max Drawdown (10Y)

Largest decline over 10 years

-14.60%

Current Drawdown

Current decline from peak

-1.85%

-0.77%

-1.08%

Average Drawdown

Average peak-to-trough decline

-2.67%

-2.27%

-0.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.83%

0.76%

+0.07%

Volatility

IEI vs. MMIT - Volatility Comparison

iShares 3-7 Year Treasury Bond ETF (IEI) has a higher volatility of 0.91% compared to IQ MacKay Municipal Intermediate ETF (MMIT) at 0.77%. This indicates that IEI's price experiences larger fluctuations and is considered to be riskier than MMIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


IEIMMITDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.91%

0.77%

+0.14%

Volatility (6M)

Calculated over the trailing 6-month period

2.13%

1.66%

+0.47%

Volatility (1Y)

Calculated over the trailing 1-year period

3.04%

2.53%

+0.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.77%

3.54%

+1.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.93%

4.30%

-0.37%

IEI vs. MMIT - Expense Ratio Comparison

IEI has a 0.15% expense ratio, which is lower than MMIT's 0.31% expense ratio.


Dividends

IEI vs. MMIT - Dividend Comparison

IEI's dividend yield for the trailing twelve months is around 3.64%, more than MMIT's 3.57% yield.


PositionTTM20252024202320222021202020192018201720162015
IEI
iShares 3-7 Year Treasury Bond ETF
3.64%3.48%3.18%2.36%1.37%0.73%1.12%2.01%1.95%1.51%1.33%1.39%
MMIT
IQ MacKay Municipal Intermediate ETF
3.57%3.54%3.76%3.46%2.30%1.81%2.59%4.14%2.46%0.35%0.00%0.00%

Frequently Asked Questions


IEI and MMIT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEI has higher volatility (0.91%) compared to MMIT (0.77%). In terms of maximum drawdown, IEI dropped -14.60% vs MMIT's -12.28%.

On 5-year performance, MMIT leads with 1.11% vs 0.23% for IEI. On fees, IEI is cheaper at 0.15% per year. On volatility, MMIT has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, MMIT has performed better with a 1.11% return vs 0.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEI is cheaper with a 0.15% expense ratio, compared with 0.31% for MMIT.

IEI has the higher dividend yield at 3.64%, compared with 3.57% for MMIT.

IEI is categorized as Government Bonds, while MMIT is Municipal Bonds. They also come from different issuers: iShares and New York Life. Their fees differ too: 0.15% for IEI and 0.31% for MMIT.

MMIT currently has the higher Sharpe Ratio (2.56 vs 1.09), 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.

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