MBB vs. CMF
Compare and contrast key facts about iShares MBS Bond ETF (MBB) and iShares California Muni Bond ETF (CMF).
MBB and CMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MBB is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. MBS Index. It was launched on Mar 16, 2007. CMF is a passively managed fund by iShares that tracks the performance of the S&P California AMT-Free Municipal Bond Index. It was launched on Oct 4, 2007. Both MBB and CMF 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: MBB or CMF.
Key characteristics
| MBB | CMF | |
|---|---|---|
| YTD Return | 1.36% | 1.31% |
| 1Y Return | 8.36% | 6.29% |
| 3Y Return (Ann) | -2.09% | -0.49% |
| 5Y Return (Ann) | -0.68% | 0.80% |
| 10Y Return (Ann) | 0.87% | 1.97% |
| Sharpe Ratio | 1.22 | 1.69 |
| Sortino Ratio | 1.81 | 2.42 |
| Omega Ratio | 1.21 | 1.33 |
| Calmar Ratio | 0.56 | 0.81 |
| Martin Ratio | 4.19 | 7.36 |
| Ulcer Index | 1.98% | 0.88% |
| Daily Std Dev | 6.81% | 3.84% |
| Max Drawdown | -17.65% | -16.45% |
| Current Drawdown | -7.65% | -2.22% |
Correlation
The correlation between MBB and CMF is 0.41, 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
MBB vs. CMF - Performance Comparison
The year-to-date returns for both stocks are quite close, with MBB having a 1.36% return and CMF slightly lower at 1.31%. Over the past 10 years, MBB has underperformed CMF with an annualized return of 0.87%, while CMF has yielded a comparatively higher 1.97% annualized 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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MBB vs. CMF - Expense Ratio Comparison
MBB has a 0.06% expense ratio, which is lower than CMF's 0.25% expense ratio. Despite the difference, 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
MBB vs. CMF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MBS Bond ETF (MBB) and iShares California Muni Bond ETF (CMF). 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
MBB vs. CMF - Dividend Comparison
MBB's dividend yield for the trailing twelve months is around 3.86%, more than CMF's 2.74% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MBB iShares MBS Bond ETF | 3.86% | 3.40% | 2.31% | 1.05% | 2.10% | 2.77% | 2.63% | 2.23% | 2.58% | 2.66% | 1.72% | 1.27% |
CMF iShares California Muni Bond ETF | 2.74% | 2.28% | 1.74% | 1.58% | 1.80% | 2.03% | 2.17% | 2.09% | 2.21% | 2.55% | 2.80% | 3.11% |
Drawdowns
MBB vs. CMF - Drawdown Comparison
The maximum MBB drawdown since its inception was -17.65%, which is greater than CMF's maximum drawdown of -16.45%. Use the drawdown chart below to compare losses from any high point for MBB and CMF. For additional features, visit the drawdowns tool.
Volatility
MBB vs. CMF - Volatility Comparison
iShares MBS Bond ETF (MBB) and iShares California Muni Bond ETF (CMF) have volatilities of 2.03% and 2.05%, 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.