INMU vs. MNBD

Last updated Apr 1, 2026

Compare and contrast key facts about BlackRock Intermediate Muni Income Bond ETF (INMU) and ALPS Intermediate Municipal Bond ETF (MNBD).

INMU and MNBD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INMU is an actively managed fund by BlackRock. It was launched on Mar 16, 2021. MNBD is an actively managed fund by ALPS. It was launched on May 19, 2022.

Performance

INMU vs. MNBD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Intermediate Muni Income Bond ETF (INMU) and ALPS Intermediate Municipal Bond ETF (MNBD). The values are adjusted to include any dividend payments, if applicable.

INMU vs. MNBD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
INMU BlackRock Intermediate Muni Income Bond ETF	-0.03%	5.52%	2.77%	6.50%	0.11%
MNBD ALPS Intermediate Municipal Bond ETF	0.30%	5.15%	2.41%	6.13%	3.12%

Returns By Period

In the year-to-date period, INMU achieves a -0.03% return, which is significantly lower than MNBD's 0.30% return.

INMU

• 1D: 0.21%
• 1M: -2.38%
• YTD: -0.03%
• 6M: 1.59%
• 1Y: 4.63%
• 3Y*: 3.98%
• 5Y*: 1.73%
• 10Y*: —

MNBD

• 1D: 0.29%
• 1M: -1.92%
• YTD: 0.30%
• 6M: 1.71%
• 1Y: 5.05%
• 3Y*: 3.77%
• 5Y*: —
• 10Y*: —

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

INMU vs. MNBD - Expense Ratio Comparison

INMU has a 0.30% expense ratio, which is lower than MNBD's 0.50% expense ratio.

MNBD

ALPS Intermediate Municipal Bond ETF

INMU

BlackRock Intermediate Muni Income Bond ETF

Return for Risk

INMU vs. MNBD — Risk / Return Rank

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

INMU

INMU Risk / Return Rank: 60
INMU Sharpe Ratio Rank: 61
INMU Sortino Ratio Rank: 51
INMU Omega Ratio Rank: 73
INMU Calmar Ratio Rank: 59
INMU Martin Ratio Rank: 54

MNBD

MNBD Risk / Return Rank: 73
MNBD Sharpe Ratio Rank: 77
MNBD Sortino Ratio Rank: 73
MNBD Omega Ratio Rank: 84
MNBD Calmar Ratio Rank: 71
MNBD Martin Ratio Rank: 62

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.

INMU vs. MNBD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Intermediate Muni Income Bond ETF (INMU) and ALPS Intermediate Municipal Bond ETF (MNBD). 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.

	INMU	MNBD	Difference
Sharpe ratio Return per unit of total volatility	1.07	1.46	-0.39
Sortino ratio Return per unit of downside risk	1.37	1.88	-0.51
Omega ratio Gain probability vs. loss probability	1.27	1.33	-0.06
Calmar ratio Return relative to maximum drawdown	1.51	1.85	-0.35
Martin ratio Return relative to average drawdown	5.35	6.27	-0.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INMU vs. MNBD - Sharpe Ratio Comparison

The current INMU Sharpe Ratio is 1.07, which is comparable to the MNBD Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of INMU and MNBD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	INMU	MNBD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	1.46	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	1.16	-0.65

Correlation

The correlation between INMU and MNBD is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

INMU vs. MNBD - Dividend Comparison

INMU's dividend yield for the trailing twelve months is around 3.43%, more than MNBD's 3.34% yield.

	TTM	2025	2024	2023	2022	2021
INMU BlackRock Intermediate Muni Income Bond ETF	3.43%	3.48%	3.47%	3.44%	1.92%	1.14%
MNBD ALPS Intermediate Municipal Bond ETF	3.34%	3.32%	3.83%	3.44%	2.40%	0.00%

Drawdowns

INMU vs. MNBD - Drawdown Comparison

The maximum INMU drawdown since its inception was -10.67%, which is greater than MNBD's maximum drawdown of -5.89%. Use the drawdown chart below to compare losses from any high point for INMU and MNBD.

Drawdown Indicators

	INMU	MNBD	Difference
Max Drawdown Largest peak-to-trough decline	-10.67%	-5.89%	-4.78%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-2.88%	-0.27%
Max Drawdown (5Y) Largest decline over 5 years	-10.67%	—	—
Current Drawdown Current decline from peak	-2.38%	-1.92%	-0.46%
Average Drawdown Average peak-to-trough decline	-2.86%	-1.09%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.85%	+0.04%

Volatility

INMU vs. MNBD - Volatility Comparison

BlackRock Intermediate Muni Income Bond ETF (INMU) has a higher volatility of 1.25% compared to ALPS Intermediate Municipal Bond ETF (MNBD) at 1.17%. This indicates that INMU's price experiences larger fluctuations and is considered to be riskier than MNBD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INMU	MNBD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	1.17%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	1.86%	1.79%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	4.34%	3.48%	+0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.59%	3.83%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.58%	3.83%	-0.25%