MAMTX vs. VTEB
MAMTX (Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust) and VTEB (Vanguard Tax-Exempt Bond ETF) are both Municipal Bonds funds. Over the past 10 years, MAMTX returned 1.89%/yr vs 1.88%/yr for VTEB. Their 0.38 correlation means their historical movements had little consistent relationship. MAMTX charges 0.55%/yr vs 0.03%/yr for VTEB.
Performance
MAMTX vs. VTEB - Performance Comparison
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Returns By Period
In the year-to-date period, MAMTX achieves a 1.12% return, which is significantly higher than VTEB's 0.31% return. Both investments have delivered pretty close results over the past 10 years, with MAMTX having a 1.89% annualized return and VTEB not far behind at 1.88%.
MAMTX
- 1D
- -0.29%
- 1M
- -2.00%
- 6M
- 0.58%
- YTD
- 1.12%
- 1Y
- 5.95%
- 3Y*
- 4.16%
- 5Y*
- 0.22%
- 10Y*
- 1.89%
- ALL TIME*
- 4.27%
VTEB
- 1D
- -0.10%
- 1M
- -1.84%
- 6M
- -0.23%
- YTD
- 0.31%
- 1Y
- 4.77%
- 3Y*
- 2.92%
- 5Y*
- 0.53%
- 10Y*
- 1.88%
- ALL TIME*
- 2.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $377.87M | $352.76M | $360.69M |
MAMTX vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MAMTX Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust | 1.12% | 3.97% | 3.90% | 4.89% | -12.11% | 5.84% | 0.58% | 6.81% | 1.27% | 8.05% |
VTEB Vanguard Tax-Exempt Bond ETF | 0.31% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 1.04% | 4.87% |
Correlation
The correlation between MAMTX and VTEB is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2015 | 0.38 |
Over the past year, MAMTX and VTEB have become more correlated (0.62) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
MAMTX vs. VTEB — Risk / Return Rank
MAMTX
VTEB
MAMTX vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust (MAMTX) and Vanguard Tax-Exempt Bond ETF (VTEB). 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.
| MAMTX | VTEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.41 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 2.00 | +0.41 |
| Martin ratioReturn relative to average drawdown | 8.41 | 6.62 | +1.79 |
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Drawdowns
MAMTX vs. VTEB - Drawdown Comparison
The maximum MAMTX drawdown since its inception was -16.83%, roughly equal to the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for MAMTX and VTEB.
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Drawdown Indicators
| MAMTX | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.83% | -17.00% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -2.71% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -5.71% | -4.76% | -0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -16.83% | -12.56% | -4.27% |
Max Drawdown (10Y)Largest decline over 10 years | -16.83% | -17.00% | +0.17% |
Current DrawdownCurrent decline from peak | -2.09% | -1.86% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -2.30% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.82% | 0.00% |
Volatility
MAMTX vs. VTEB - Volatility Comparison
Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust (MAMTX) and Vanguard Tax-Exempt Bond ETF (VTEB) have volatilities of 0.91% and 0.88%, 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.
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Volatility by Period
| MAMTX | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 0.88% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 2.22% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 2.79% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 3.92% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 5.25% | -0.40% |
MAMTX vs. VTEB - Expense Ratio Comparison
MAMTX has a 0.55% expense ratio, which is higher than VTEB's 0.03% expense ratio.
Dividends
MAMTX vs. VTEB - Dividend Comparison
MAMTX's dividend yield for the trailing twelve months is around 3.64%, more than VTEB's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAMTX Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust | 3.64% | 5.00% | 4.23% | 2.70% | 1.96% | 2.00% | 2.39% | 2.83% | 4.74% | 2.89% | 3.91% | 2.84% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.14% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Frequently Asked Questions
MAMTX and VTEB have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAMTX has higher volatility (0.91%) compared to VTEB (0.88%). In terms of maximum drawdown, MAMTX dropped -16.83% vs VTEB's -17.00%.
MAMTX currently has the higher Sharpe Ratio (2.21 vs 1.95), 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.
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