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MANLX vs. WFSPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MANLX vs. WFSPX

Last updated Jun 4, 2026

MANLX (BlackRock National Municipal Fund) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - MANLX is a Municipal Bonds fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, MANLX returned 2.06%/yr vs 15.54%/yr for WFSPX. At a correlation of -0.02, they often move in opposite directions. MANLX charges 0.44%/yr vs 0.03%/yr for WFSPX.

Performance

MANLX vs. WFSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock National Municipal Fund (MANLX) and iShares S&P 500 Index Fund (WFSPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MANLX achieves a 1.72% return, which is significantly lower than WFSPX's 11.69% return. Over the past 10 years, MANLX has underperformed WFSPX with an annualized return of 2.06%, while WFSPX has yielded a comparatively higher 15.54% annualized return.

MANLX

1D
0.10%
1M
0.72%
YTD
1.72%
6M
2.15%
1Y
6.39%
3Y*
4.05%
5Y*
0.73%
10Y*
2.06%

WFSPX

1D
0.13%
1M
5.80%
YTD
11.69%
6M
11.72%
1Y
28.93%
3Y*
22.71%
5Y*
14.24%
10Y*
15.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MANLX vs. WFSPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MANLX
BlackRock National Municipal Fund		1.72%4.54%2.49%5.94%-10.89%2.27%4.28%7.50%0.61%5.42%
WFSPX
iShares S&P 500 Index Fund		11.69%17.83%24.94%26.25%-18.14%28.63%18.43%31.45%-4.83%21.27%

Correlation

The correlation between MANLX and WFSPX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.14

Correlation (3Y)
Calculated over the trailing 3-year period

0.13

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (10Y)
Calculated over the trailing 10-year period

0.03

Correlation (All Time)
Calculated using the full available price history since Jul 6, 1993

-0.02

The correlation between MANLX and WFSPX shifts across timeframes, from -0.02 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BlackRock National Municipal Fund

iShares S&P 500 Index Fund

Often compared with MANLX:
MANLX vs. GSMIXMANLX vs. MUBMANLX vs. VUSXXMANLX vs. USMSXMANLX vs. USMTXMANLX vs. FASGXMANLX vs. ASFYX
Often compared with WFSPX:
WFSPX vs. JLGMXWFSPX vs. VOOWFSPX vs. FSPGXWFSPX vs. FXAIXWFSPX vs. BRMKXWFSPX vs. IVVWFSPX vs. APGYX

Return for Risk

MANLX vs. WFSPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MANLX
MANLX Risk / Return Rank: 6565
Overall Rank
MANLX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
MANLX Sortino Ratio Rank: 8383
Sortino Ratio Rank
MANLX Omega Ratio Rank: 9191
Omega Ratio Rank
MANLX Calmar Ratio Rank: 3939
Calmar Ratio Rank
MANLX Martin Ratio Rank: 3838
Martin Ratio Rank
WFSPX
WFSPX Risk / Return Rank: 7373
Overall Rank
WFSPX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
WFSPX Sortino Ratio Rank: 6767
Sortino Ratio Rank
WFSPX Omega Ratio Rank: 6767
Omega Ratio Rank
WFSPX Calmar Ratio Rank: 7474
Calmar Ratio Rank
WFSPX Martin Ratio Rank: 8383
Martin Ratio Rank
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.

MANLX vs. WFSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock National Municipal Fund (MANLX) and iShares S&P 500 Index Fund (WFSPX). 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.

MANLXWFSPXDifference
Sharpe ratioReturn per unit of total volatility
2.52
2.52

+0.01

Sortino ratioReturn per unit of downside risk
3.95
3.42

+0.53

Omega ratioGain probability vs. loss probability

1.67

1.46

+0.21

Calmar ratioReturn relative to maximum drawdown

2.37

3.35

-0.98

Martin ratioReturn relative to average drawdown

8.26

15.65

-7.39

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MANLX vs. WFSPX - Sharpe Ratio Comparison

The current MANLX Sharpe Ratio is 2.52, which is comparable to the WFSPX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of MANLX and WFSPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

MANLXWFSPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.52

2.52

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.18

0.85

-0.67

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.52

0.87

-0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.81

0.13

+0.68

Drawdowns

MANLX vs. WFSPX - Drawdown Comparison

The maximum MANLX drawdown since its inception was -23.54%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for MANLX and WFSPX.

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Drawdown Indicators

MANLXWFSPXDifference

Max Drawdown

Largest peak-to-trough decline

-23.54%

-58.21%

+34.67%

Max Drawdown (1Y)

Largest decline over 1 year

-2.66%

-8.90%

+6.24%

Max Drawdown (3Y)

Largest decline over 3 years

-4.68%

-18.74%

+14.06%

Max Drawdown (5Y)

Largest decline over 5 years

-16.51%

-24.51%

+8.00%

Max Drawdown (10Y)

Largest decline over 10 years

-16.51%

-33.74%

+17.23%

Current Drawdown

Current decline from peak

-0.43%

0.00%

-0.43%

Average Drawdown

Average peak-to-trough decline

-3.20%

-12.77%

+9.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.76%

1.90%

-1.14%

Volatility

MANLX vs. WFSPX - Volatility Comparison

The current volatility for BlackRock National Municipal Fund (MANLX) is 0.95%, while iShares S&P 500 Index Fund (WFSPX) has a volatility of 2.82%. This indicates that MANLX experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MANLXWFSPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.95%

2.82%

-1.87%

Volatility (6M)

Calculated over the trailing 6-month period

1.90%

8.97%

-7.07%

Volatility (1Y)

Calculated over the trailing 1-year period

2.51%

11.85%

-9.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.16%

16.88%

-12.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.00%

18.02%

-14.02%

MANLX vs. WFSPX - Expense Ratio Comparison

MANLX has a 0.44% expense ratio, which is higher than WFSPX's 0.03% expense ratio.

Dividends

MANLX vs. WFSPX - Dividend Comparison

MANLX's dividend yield for the trailing twelve months is around 3.84%, more than WFSPX's 1.56% yield.

PositionTTM20252024202320222021202020192018201720162015
MANLX
BlackRock National Municipal Fund		3.84%4.99%4.06%2.93%2.07%2.25%2.09%2.89%3.12%3.13%3.07%3.36%
WFSPX
iShares S&P 500 Index Fund		1.56%1.72%1.41%1.50%2.02%1.82%1.66%1.99%2.00%1.62%2.37%2.49%

Frequently Asked Questions

MANLX and WFSPX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WFSPX has higher volatility (2.82%) compared to MANLX (0.95%). In terms of maximum drawdown, MANLX dropped -23.54% vs WFSPX's -58.21%.

MANLX currently has the higher Sharpe Ratio (2.52 vs 2.52), 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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