ITM vs. AMUN
ITM (VanEck Intermediate Muni ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both Municipal Bonds funds. ITM is passively managed, while AMUN is actively managed. At a 0.26 correlation, their price movements are largely independent. ITM charges 0.24%/yr vs 0.25%/yr for AMUN.
Performance
ITM vs. AMUN - Performance Comparison
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Returns By Period
In the year-to-date period, ITM achieves a 0.61% return, which is significantly lower than AMUN's 1.11% return.
ITM
- 1D
- -0.09%
- 1M
- 0.79%
- YTD
- 0.61%
- 6M
- 1.22%
- 1Y
- 7.29%
- 3Y*
- 3.70%
- 5Y*
- 0.44%
- 10Y*
- 1.95%
AMUN
- 1D
- -0.02%
- 1M
- 0.32%
- YTD
- 1.11%
- 6M
- 1.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ITM vs. AMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ITM VanEck Intermediate Muni ETF | 0.61% | 0.94% |
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.11% | 0.14% |
Correlation
The correlation between ITM and AMUN is 0.26, 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 Oct 21, 2025 | 0.26 |
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Return for Risk
ITM vs. AMUN — Risk / Return Rank
ITM
AMUN
ITM vs. AMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Intermediate Muni ETF (ITM) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.
| ITM | AMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.55 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | — | — |
| Martin ratioReturn relative to average drawdown | 6.84 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ITM | AMUN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 2.05 | -1.61 |
Drawdowns
ITM vs. AMUN - Drawdown Comparison
The maximum ITM drawdown since its inception was -24.75%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for ITM and AMUN.
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Drawdown Indicators
| ITM | AMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.75% | -0.61% | -24.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.11% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.75% | — | — |
Current DrawdownCurrent decline from peak | -1.33% | -0.02% | -1.31% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -0.09% | -2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | — | — |
Volatility
ITM vs. AMUN - Volatility Comparison
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Volatility by Period
| ITM | AMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.18% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 1.01% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 1.01% | +3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 1.01% | +6.09% |
ITM vs. AMUN - Expense Ratio Comparison
ITM has a 0.24% expense ratio, which is lower than AMUN's 0.25% 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
ITM vs. AMUN - Dividend Comparison
ITM's dividend yield for the trailing twelve months is around 2.93%, more than AMUN's 1.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.89% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ITM VanEck Intermediate Muni ETF | 2.93% | 2.86% | 2.73% | 2.40% | 1.92% | 1.70% | 2.13% | 2.44% | 2.33% | 2.21% | 2.29% | 2.28% |
Frequently Asked Questions
ITM and AMUN have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITM is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITM is cheaper with a 0.24% expense ratio, compared with 0.25% for AMUN.
ITM has the higher dividend yield at 2.93%, compared with 1.89% for AMUN.
They also come from different issuers: VanEck and abrdn. Their fees differ too: 0.24% for ITM and 0.25% for AMUN.
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