IEI vs. MMIT
Compare and contrast key facts about iShares 3-7 Year Treasury Bond ETF (IEI) and IQ MacKay Municipal Intermediate ETF (MMIT).
IEI and MMIT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IEI is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 3-7 Year Treasury Bond Index. It was launched on Jan 11, 2007. MMIT is an actively managed fund by New York Life. It was launched on Oct 18, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IEI or MMIT.
Performance
IEI vs. MMIT - Performance Comparison
Returns By Period
In the year-to-date period, IEI achieves a 1.62% return, which is significantly lower than MMIT's 2.28% return.
IEI
1.62%
-0.74%
2.90%
4.68%
-0.02%
1.10%
MMIT
2.28%
0.91%
3.26%
5.17%
1.55%
N/A
Key characteristics
| IEI | MMIT | |
|---|---|---|
| Sharpe Ratio | 1.07 | 1.52 |
| Sortino Ratio | 1.58 | 2.21 |
| Omega Ratio | 1.19 | 1.30 |
| Calmar Ratio | 0.42 | 0.94 |
| Martin Ratio | 3.14 | 7.99 |
| Ulcer Index | 1.49% | 0.65% |
| Daily Std Dev | 4.37% | 3.40% |
| Max Drawdown | -14.60% | -12.28% |
| Current Drawdown | -6.87% | -0.57% |
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IEI vs. MMIT - Expense Ratio Comparison
IEI has a 0.15% expense ratio, which is lower than MMIT's 0.31% expense ratio.
Correlation
The correlation between IEI and MMIT is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
IEI vs. MMIT - Risk-Adjusted Performance 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.
Dividends
IEI vs. MMIT - Dividend Comparison
IEI's dividend yield for the trailing twelve months is around 3.11%, less than MMIT's 3.79% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | 3.11% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% | 1.23% | 0.77% |
MMIT IQ MacKay Municipal Intermediate ETF | 3.79% | 3.46% | 2.30% | 1.81% | 2.60% | 4.14% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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. For additional features, visit the drawdowns tool.
Volatility
IEI vs. MMIT - Volatility Comparison
The current volatility for iShares 3-7 Year Treasury Bond ETF (IEI) is 1.00%, while IQ MacKay Municipal Intermediate ETF (MMIT) has a volatility of 1.51%. This indicates that IEI experiences smaller price fluctuations and is considered to be less risky than MMIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.