JIBEX vs. JMUNX

Last updated Jun 4, 2026

JIBEX (Johnson Institutional Intermediate Bond Fund) and JMUNX (Johnson Municipal Income Fund) are both mutual funds - JIBEX is a Intermediate Core Bond fund managed by Johnson Mutual Funds, while JMUNX is a Municipal Bonds fund managed by Johnson Mutual Funds. Over the past 10 years, JIBEX returned 2.09%/yr vs 1.46%/yr for JMUNX. A 0.51 correlation means they provide meaningful diversification when combined. JIBEX charges 0.25%/yr vs 0.65%/yr for JMUNX.

Performance

JIBEX vs. JMUNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Johnson Institutional Intermediate Bond Fund (JIBEX) 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, JIBEX achieves a -0.05% return, which is significantly lower than JMUNX's 0.80% return. Over the past 10 years, JIBEX has outperformed JMUNX with an annualized return of 2.09%, while JMUNX has yielded a comparatively lower 1.46% annualized return.

JIBEX

• 1D: 0.00%
• 1M: 0.14%
• YTD: -0.05%
• 6M: 0.02%
• 1Y: 4.13%
• 3Y*: 4.41%
• 5Y*: 0.99%
• 10Y*: 2.09%

JMUNX

• 1D: 0.31%
• 1M: 0.68%
• YTD: 0.80%
• 6M: 0.92%
• 1Y: 6.28%
• 3Y*: 2.90%
• 5Y*: 0.37%
• 10Y*: 1.46%

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

JIBEX vs. JMUNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JIBEX Johnson Institutional Intermediate Bond Fund	-0.05%	7.39%	2.58%	5.46%	-9.24%	-1.72%	7.20%	7.54%	0.41%	2.81%
JMUNX Johnson Municipal Income Fund	0.80%	3.71%	-0.19%	5.75%	-8.10%	0.30%	5.12%	5.66%	0.90%	3.24%

Correlation

The correlation between JIBEX and JMUNX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Sep 1, 2000	0.51

The correlation between JIBEX and JMUNX has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.

Return for Risk

JIBEX vs. JMUNX — Risk / Return Rank

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

JIBEX

JIBEX Risk / Return Rank: 26
JIBEX Sharpe Ratio Rank: 27
JIBEX Sortino Ratio Rank: 30
JIBEX Omega Ratio Rank: 27
JIBEX Calmar Ratio Rank: 25
JIBEX Martin Ratio Rank: 22

JMUNX

JMUNX Risk / Return Rank: 50
JMUNX Sharpe Ratio Rank: 63
JMUNX Sortino Ratio Rank: 56
JMUNX Omega Ratio Rank: 85
JMUNX Calmar Ratio Rank: 23
JMUNX Martin Ratio Rank: 25

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.

JIBEX vs. JMUNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Johnson Institutional Intermediate Bond Fund (JIBEX) 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.

	JIBEX	JMUNX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.33	-0.83
Sortino ratio: Return per unit of downside risk	2.27	3.17	-0.90
Omega ratio: Gain probability vs. loss probability	1.27	1.59	-0.32
Calmar ratio: Return relative to maximum drawdown	1.84	1.76	+0.09
Martin ratio: Return relative to average drawdown	5.62	6.06	-0.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JIBEX vs. JMUNX - Sharpe Ratio Comparison

The current JIBEX Sharpe Ratio is 1.50, which is lower than the JMUNX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of JIBEX 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.

Sharpe Ratios by Period

	JIBEX	JMUNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	2.33	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.09	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.37	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.38	-0.05

Drawdowns

JIBEX vs. JMUNX - Drawdown Comparison

The maximum JIBEX drawdown since its inception was -13.85%, which is greater than JMUNX's maximum drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for JIBEX and JMUNX.

Drawdown Indicators

	JIBEX	JMUNX	Difference
Max Drawdown Largest peak-to-trough decline	-13.85%	-13.08%	-0.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.21%	-3.51%	+1.30%
Max Drawdown (3Y) Largest decline over 3 years	-3.37%	-7.20%	+3.83%
Max Drawdown (5Y) Largest decline over 5 years	-13.81%	-13.08%	-0.73%
Max Drawdown (10Y) Largest decline over 10 years	-13.85%	-13.08%	-0.77%
Current Drawdown Current decline from peak	-1.40%	-1.27%	-0.13%
Average Drawdown Average peak-to-trough decline	-3.64%	-2.66%	-0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	1.02%	-0.30%

Volatility

JIBEX vs. JMUNX - Volatility Comparison

Johnson Institutional Intermediate Bond Fund (JIBEX) and Johnson Municipal Income Fund (JMUNX) have volatilities of 0.92% and 0.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JIBEX	JMUNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.95%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	1.93%	2.10%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	2.73%	2.65%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.39%	4.12%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.58%	3.97%	-0.39%

JIBEX vs. JMUNX - Expense Ratio Comparison

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

Dividends

JIBEX vs. JMUNX - Dividend Comparison

JIBEX's dividend yield for the trailing twelve months is around 3.68%, more than JMUNX's 2.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JIBEX Johnson Institutional Intermediate Bond Fund	3.68%	4.03%	3.39%	2.90%	2.14%	1.79%	3.15%	2.69%	2.74%	2.33%	2.39%	1.54%
JMUNX Johnson Municipal Income Fund	2.62%	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 JIBEX and JMUNX in my portfolio?

JIBEX and JMUNX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JIBEX or JMUNX?

JMUNX has higher volatility (0.95%) compared to JIBEX (0.92%). In terms of maximum drawdown, JIBEX dropped -13.85% vs JMUNX's -13.08%.

Which has better risk-adjusted returns?

JMUNX currently has the higher Sharpe Ratio (2.33 vs 1.50), 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.