MBND vs. AMUN
MBND (SPDR Nuveen Municipal Bond ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. MBND charges 0.40%/yr vs 0.25%/yr for AMUN.
Performance
MBND vs. AMUN - Performance Comparison
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Returns By Period
In the year-to-date period, MBND achieves a 1.19% return, which is significantly higher than AMUN's 1.13% return.
MBND
- 1D
- 0.07%
- 1M
- 0.66%
- YTD
- 1.19%
- 6M
- 1.47%
- 1Y
- 5.23%
- 3Y*
- 3.72%
- 5Y*
- 0.64%
- 10Y*
- —
AMUN
- 1D
- 0.02%
- 1M
- 0.32%
- YTD
- 1.13%
- 6M
- 1.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MBND vs. AMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MBND SPDR Nuveen Municipal Bond ETF | 1.19% | 0.30% |
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.13% | 0.14% |
Correlation
The correlation between MBND and AMUN is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025 | 0.06 |
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Return for Risk
MBND vs. AMUN — Risk / Return Rank
MBND
AMUN
MBND vs. AMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Municipal Bond ETF (MBND) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.
| MBND | AMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.45 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | — | — |
| Martin ratioReturn relative to average drawdown | 7.13 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MBND | AMUN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 2.07 | -1.86 |
Drawdowns
MBND vs. AMUN - Drawdown Comparison
The maximum MBND drawdown since its inception was -13.18%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for MBND and AMUN.
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Drawdown Indicators
| MBND | AMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -0.61% | -12.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.18% | — | — |
Current DrawdownCurrent decline from peak | -0.55% | -0.00% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -0.09% | -4.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | — | — |
Volatility
MBND vs. AMUN - Volatility Comparison
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Volatility by Period
| MBND | AMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.50% | 1.00% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.48% | 1.00% | +2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.41% | 1.00% | +2.41% |
MBND vs. AMUN - Expense Ratio Comparison
MBND has a 0.40% expense ratio, which is higher than AMUN's 0.25% expense ratio.
Dividends
MBND vs. AMUN - Dividend Comparison
MBND's dividend yield for the trailing twelve months is around 3.49%, more than AMUN's 1.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.89% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% |
MBND SPDR Nuveen Municipal Bond ETF | 3.49% | 3.43% | 2.72% | 2.53% | 1.61% | 1.62% |
Frequently Asked Questions
MBND and AMUN have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMUN is cheaper with a 0.25% expense ratio, compared with 0.40% for MBND.
MBND has the higher dividend yield at 3.49%, compared with 1.89% for AMUN.
They also come from different issuers: State Street and abrdn. Their fees differ too: 0.40% for MBND and 0.25% for AMUN.
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