JIBDX vs. JMUNX

Last updated Jun 23, 2026

JIBDX (Johnson Institutional Short Duration Bond Fund) and JMUNX (Johnson Municipal Income Fund) are both mutual funds - JIBDX is a Short-Term Bond fund managed by Johnson Mutual Funds, while JMUNX is a Municipal Bonds fund managed by Johnson Mutual Funds. Over the past 10 years, JIBDX returned 2.10%/yr vs 1.46%/yr for JMUNX. At a 0.46 correlation, their price movements are largely independent. JIBDX charges 0.25%/yr vs 0.65%/yr for JMUNX.

Performance

JIBDX vs. JMUNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Johnson Institutional Short Duration Bond Fund (JIBDX) and Johnson Municipal Income Fund (JMUNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JIBDX achieves a 0.32% return, which is significantly lower than JMUNX's 1.30% return. Over the past 10 years, JIBDX has outperformed JMUNX with an annualized return of 2.10%, while JMUNX has yielded a comparatively lower 1.46% annualized return.

JIBDX

• 1D: 0.07%
• 1M: 0.27%
• YTD: 0.32%
• 6M: 0.48%
• 1Y: 3.30%
• 3Y*: 4.53%
• 5Y*: 1.97%
• 10Y*: 2.10%

JMUNX

• 1D: 0.12%
• 1M: 1.86%
• YTD: 1.30%
• 6M: 1.48%
• 1Y: 6.32%
• 3Y*: 2.94%
• 5Y*: 0.42%
• 10Y*: 1.46%

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

JIBDX vs. JMUNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JIBDX Johnson Institutional Short Duration Bond Fund	0.32%	5.91%	3.98%	4.77%	-4.29%	-0.91%	3.91%	4.65%	1.14%	1.54%
JMUNX Johnson Municipal Income Fund	1.30%	3.71%	-0.19%	5.75%	-8.10%	0.30%	5.12%	5.66%	0.90%	3.24%

Correlation

The correlation between JIBDX and JMUNX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Aug 31, 2000	0.46

Return for Risk

JIBDX vs. JMUNX — Risk / Return Rank

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

JIBDX

JIBDX Risk / Return Rank: 72
JIBDX Sharpe Ratio Rank: 81
JIBDX Sortino Ratio Rank: 85
JIBDX Omega Ratio Rank: 85
JIBDX Calmar Ratio Rank: 60
JIBDX Martin Ratio Rank: 48

JMUNX

JMUNX Risk / Return Rank: 59
JMUNX Sharpe Ratio Rank: 79
JMUNX Sortino Ratio Rank: 74
JMUNX Omega Ratio Rank: 89
JMUNX Calmar Ratio Rank: 27
JMUNX Martin Ratio Rank: 28

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.

JIBDX vs. JMUNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Johnson Institutional Short Duration Bond Fund (JIBDX) and Johnson Municipal Income Fund (JMUNX). 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.

	JIBDX	JMUNX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.40	+0.06
Sortino ratio: Return per unit of downside risk	3.73	3.26	+0.46
Omega ratio: Gain probability vs. loss probability	1.54	1.60	-0.07
Calmar ratio: Return relative to maximum drawdown	2.84	1.81	+1.03
Martin ratio: Return relative to average drawdown	9.50	6.08	+3.42

JIBDX vs. JMUNX - Sharpe Ratio Comparison

The current JIBDX Sharpe Ratio is 2.46, which is comparable to the JMUNX Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of JIBDX and JMUNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JIBDX vs. JMUNX - Drawdown Comparison

The maximum JIBDX drawdown since its inception was -8.51%, smaller than the maximum JMUNX drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for JIBDX and JMUNX.

Drawdown Indicators

	JIBDX	JMUNX	Difference
Max Drawdown Largest peak-to-trough decline	-8.51%	-13.08%	+4.57%
Max Drawdown (1Y) Largest decline over 1 year	-1.19%	-3.51%	+2.32%
Max Drawdown (3Y) Largest decline over 3 years	-1.19%	-7.20%	+6.01%
Max Drawdown (5Y) Largest decline over 5 years	-6.87%	-13.08%	+6.21%
Max Drawdown (10Y) Largest decline over 10 years	-6.95%	-13.08%	+6.13%
Current Drawdown Current decline from peak	-0.53%	-0.79%	+0.26%
Average Drawdown Average peak-to-trough decline	-2.48%	-2.65%	+0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	1.04%	-0.68%

Volatility

JIBDX vs. JMUNX - Volatility Comparison

The current volatility for Johnson Institutional Short Duration Bond Fund (JIBDX) is 0.53%, while Johnson Municipal Income Fund (JMUNX) has a volatility of 0.62%. This indicates that JIBDX experiences smaller price fluctuations and is considered to be less risky than JMUNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JIBDX	JMUNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	0.62%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	1.06%	2.11%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	1.38%	2.65%	-1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.13%	4.12%	-1.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.79%	3.97%	-2.18%

JIBDX vs. JMUNX - Expense Ratio Comparison

JIBDX has a 0.25% expense ratio, which is lower than JMUNX's 0.65% expense ratio.

Dividends

JIBDX vs. JMUNX - Dividend Comparison

JIBDX's dividend yield for the trailing twelve months is around 3.68%, more than JMUNX's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JIBDX Johnson Institutional Short Duration Bond Fund	3.68%	3.92%	2.88%	2.08%	1.26%	0.99%	1.73%	2.39%	2.21%	1.67%	1.97%	0.92%
JMUNX Johnson Municipal Income Fund	2.61%	3.49%	2.41%	2.79%	2.30%	1.96%	1.93%	2.00%	1.88%	1.86%	1.83%	2.09%

Frequently Asked Questions

Can I hold both JIBDX and JMUNX in my portfolio?

JIBDX and JMUNX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JIBDX or JMUNX?

JMUNX has higher volatility (0.62%) compared to JIBDX (0.53%). In terms of maximum drawdown, JIBDX dropped -8.51% vs JMUNX's -13.08%.

Which has better risk-adjusted returns?

JIBDX currently has the higher Sharpe Ratio (2.46 vs 2.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.