IMSI vs. MUST
Compare and contrast key facts about Invesco Municipal Strategic Income ETF (IMSI) and Columbia Multi-Sector Municipal Income ETF (MUST).
IMSI and MUST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IMSI is an actively managed fund by Invesco. It was launched on Dec 5, 2022. MUST is a passively managed fund by Ameriprise Financial that tracks the performance of the Bloomberg Beta Advantage Multi-Sector Municipal Bond Index. It was launched on Oct 10, 2018.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IMSI or MUST.
Key characteristics
| IMSI | MUST | |
|---|---|---|
| YTD Return | 4.01% | 0.35% |
| 1Y Return | 9.34% | 6.75% |
| Sharpe Ratio | 3.04 | 1.35 |
| Sortino Ratio | 4.61 | 1.97 |
| Omega Ratio | 1.64 | 1.25 |
| Calmar Ratio | 3.55 | 0.71 |
| Martin Ratio | 22.39 | 6.96 |
| Ulcer Index | 0.42% | 0.98% |
| Daily Std Dev | 3.13% | 5.05% |
| Max Drawdown | -4.79% | -13.83% |
| Current Drawdown | -1.13% | -3.44% |
Correlation
The correlation between IMSI and MUST is 0.60, 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.
Performance
IMSI vs. MUST - Performance Comparison
In the year-to-date period, IMSI achieves a 4.01% return, which is significantly higher than MUST's 0.35% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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IMSI vs. MUST - Expense Ratio Comparison
IMSI has a 0.39% expense ratio, which is higher than MUST's 0.23% expense ratio.
Risk-Adjusted Performance
IMSI vs. MUST - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Municipal Strategic Income ETF (IMSI) and Columbia Multi-Sector Municipal Income ETF (MUST). 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
IMSI vs. MUST - Dividend Comparison
IMSI's dividend yield for the trailing twelve months is around 4.08%, more than MUST's 3.05% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
IMSI Invesco Municipal Strategic Income ETF | 4.08% | 4.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUST Columbia Multi-Sector Municipal Income ETF | 3.05% | 2.51% | 1.76% | 1.61% | 2.34% | 2.69% | 0.55% |
Drawdowns
IMSI vs. MUST - Drawdown Comparison
The maximum IMSI drawdown since its inception was -4.79%, smaller than the maximum MUST drawdown of -13.83%. Use the drawdown chart below to compare losses from any high point for IMSI and MUST. For additional features, visit the drawdowns tool.
Volatility
IMSI vs. MUST - Volatility Comparison
The current volatility for Invesco Municipal Strategic Income ETF (IMSI) is 1.29%, while Columbia Multi-Sector Municipal Income ETF (MUST) has a volatility of 2.04%. This indicates that IMSI experiences smaller price fluctuations and is considered to be less risky than MUST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.