ITM vs. MUST
Compare and contrast key facts about VanEck Intermediate Muni ETF (ITM) and Columbia Multi-Sector Municipal Income ETF (MUST).
ITM and MUST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ITM is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Intermediate Continuous. It was launched on Dec 4, 2007. 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. Both ITM and MUST are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ITM or MUST.
Key characteristics
| ITM | MUST | |
|---|---|---|
| YTD Return | 0.20% | 0.64% |
| 1Y Return | 5.49% | 6.63% |
| 3Y Return (Ann) | -1.23% | -0.64% |
| 5Y Return (Ann) | 0.57% | 1.35% |
| Sharpe Ratio | 1.52 | 1.38 |
| Sortino Ratio | 2.22 | 2.03 |
| Omega Ratio | 1.29 | 1.25 |
| Calmar Ratio | 0.62 | 0.77 |
| Martin Ratio | 5.26 | 7.12 |
| Ulcer Index | 1.17% | 0.99% |
| Daily Std Dev | 4.06% | 5.10% |
| Max Drawdown | -24.75% | -13.83% |
| Current Drawdown | -4.98% | -3.15% |
Correlation
The correlation between ITM and MUST is 0.51, 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
ITM vs. MUST - Performance Comparison
In the year-to-date period, ITM achieves a 0.20% return, which is significantly lower than MUST's 0.64% 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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ITM vs. MUST - Expense Ratio Comparison
ITM has a 0.24% expense ratio, which is higher than MUST's 0.23% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
ITM vs. MUST - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Intermediate Muni ETF (ITM) 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
ITM vs. MUST - Dividend Comparison
ITM's dividend yield for the trailing twelve months is around 2.69%, less than MUST's 3.04% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITM VanEck Intermediate Muni ETF | 2.69% | 2.39% | 1.92% | 1.70% | 2.13% | 2.32% | 2.34% | 2.21% | 2.29% | 2.27% | 2.43% | 2.63% |
MUST Columbia Multi-Sector Municipal Income ETF | 3.04% | 2.51% | 1.76% | 1.61% | 2.34% | 2.69% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
ITM vs. MUST - Drawdown Comparison
The maximum ITM drawdown since its inception was -24.75%, which is greater than MUST's maximum drawdown of -13.83%. Use the drawdown chart below to compare losses from any high point for ITM and MUST. For additional features, visit the drawdowns tool.
Volatility
ITM vs. MUST - Volatility Comparison
The current volatility for VanEck Intermediate Muni ETF (ITM) is 1.90%, while Columbia Multi-Sector Municipal Income ETF (MUST) has a volatility of 2.17%. This indicates that ITM 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.