IQMM vs. MUST
IQMM (ProShares GENIUS Money Market ETF) and MUST (Columbia Multi-Sector Municipal Income ETF) are both Money Market funds. IQMM is actively managed, while MUST is passively managed. At a correlation of -0.25, they often move in opposite directions. IQMM charges 0.15%/yr vs 0.23%/yr for MUST.
Performance
IQMM vs. MUST - Performance Comparison
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Returns By Period
IQMM
- 1D
- 0.01%
- 1M
- 0.26%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUST
- 1D
- 0.58%
- 1M
- 2.42%
- YTD
- 2.04%
- 6M
- 2.19%
- 1Y
- 6.80%
- 3Y*
- 3.55%
- 5Y*
- 0.93%
- 10Y*
- —
IQMM vs. MUST - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IQMM ProShares GENIUS Money Market ETF | 1.20% |
MUST Columbia Multi-Sector Municipal Income ETF | -0.32% |
Correlation
The correlation between IQMM and MUST is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026 | -0.25 |
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Return for Risk
IQMM vs. MUST — Risk / Return Rank
IQMM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MUST
IQMM vs. MUST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares GENIUS Money Market ETF (IQMM) 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.
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.
| IQMM | MUST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.27 | — |
| Martin ratioReturn relative to average drawdown | — | 6.11 | — |
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Drawdowns
IQMM vs. MUST - Drawdown Comparison
The maximum IQMM drawdown since its inception was -0.02%, smaller than the maximum MUST drawdown of -13.83%. Use the drawdown chart below to compare losses from any high point for IQMM and MUST.
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Drawdown Indicators
| IQMM | MUST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.02% | -13.83% | +13.81% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.01% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.83% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.51% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -3.39% | +3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.12% | — |
Volatility
IQMM vs. MUST - Volatility Comparison
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Volatility by Period
| IQMM | MUST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.61% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.61% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.21% | 5.03% | -4.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.21% | 5.44% | -5.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.21% | 5.58% | -5.37% |
IQMM vs. MUST - Expense Ratio Comparison
IQMM has a 0.15% expense ratio, which is lower than MUST's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IQMM vs. MUST - Dividend Comparison
IQMM's dividend yield for the trailing twelve months is around 1.08%, less than MUST's 3.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IQMM ProShares GENIUS Money Market ETF | 1.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUST Columbia Multi-Sector Municipal Income ETF | 3.31% | 3.28% | 3.13% | 2.51% | 1.76% | 1.62% | 2.33% | 2.70% | 0.55% |
Frequently Asked Questions
IQMM and MUST have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IQMM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IQMM is cheaper with a 0.15% expense ratio, compared with 0.23% for MUST.
MUST has the higher dividend yield at 3.31%, compared with 1.08% for IQMM.
They also come from different issuers: ProShares and Ameriprise Financial. Their fees differ too: 0.15% for IQMM and 0.23% for MUST.
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