INMU vs. ZMUN
INMU (BlackRock Intermediate Muni Income Bond ETF) and ZMUN (F/m Ultrashort Tax-Free Municipal ETF) are both Municipal Bonds funds. INMU is actively managed, while ZMUN is passively managed. At a 0.19 correlation, their price movements are largely independent. Both charge a 0.30% expense ratio.
Performance
INMU vs. ZMUN - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with INMU having a 1.84% return and ZMUN slightly higher at 1.91%.
INMU
- 1D
- -0.04%
- 1M
- 0.19%
- 6M
- 1.10%
- YTD
- 1.84%
- 1Y
- 6.50%
- 3Y*
- 4.48%
- 5Y*
- 1.65%
- 10Y*
- —
ZMUN
- 1D
- 0.02%
- 1M
- 0.23%
- 6M
- 1.75%
- YTD
- 1.91%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INMU vs. ZMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
INMU BlackRock Intermediate Muni Income Bond ETF | 1.84% | 1.66% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 1.91% | 0.67% |
Correlation
The correlation between INMU and ZMUN is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025 | 0.19 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
INMU vs. ZMUN — Risk / Return Rank
INMU
ZMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
INMU vs. ZMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Intermediate Muni Income Bond ETF (INMU) and F/m Ultrashort Tax-Free Municipal ETF (ZMUN). 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.
| INMU | ZMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.59 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | — | — |
| Martin ratioReturn relative to average drawdown | 8.51 | — | — |
Loading charts...
Drawdowns
INMU vs. ZMUN - Drawdown Comparison
The maximum INMU drawdown since its inception was -10.67%, which is greater than ZMUN's maximum drawdown of -0.13%. Use the drawdown chart below to compare losses from any high point for INMU and ZMUN.
Loading charts...
Drawdown Indicators
| INMU | ZMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.67% | -0.13% | -10.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.58% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.88% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.67% | — | — |
Current DrawdownCurrent decline from peak | -0.55% | -0.04% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -0.02% | -2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | — | — |
Volatility
INMU vs. ZMUN - Volatility Comparison
Loading charts...
Volatility by Period
| INMU | ZMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.47% | 0.54% | +1.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 0.54% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.51% | 0.54% | +2.97% |
INMU vs. ZMUN - Expense Ratio Comparison
Both INMU and ZMUN have an expense ratio of 0.30%.
Dividends
INMU vs. ZMUN - Dividend Comparison
INMU's dividend yield for the trailing twelve months is around 3.36%, more than ZMUN's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
INMU BlackRock Intermediate Muni Income Bond ETF | 3.36% | 3.48% | 3.47% | 3.44% | 1.92% | 1.14% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.59% | 0.70% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INMU and ZMUN have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
INMU and ZMUN have the same expense ratio: 0.30% per year.
INMU has the higher dividend yield at 3.36%, compared with 2.59% for ZMUN.
They also come from different issuers: BlackRock and F/m Investments.
Find the right allocation for INMU and ZMUN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer