MBND vs. IBMP
MBND (SPDR Nuveen Municipal Bond ETF) and IBMP (iShares iBonds Dec 2027 Term Muni Bond ETF) are both Municipal Bonds funds. MBND is actively managed, while IBMP is passively managed. Over the past 5 years, MBND returned 0.64%/yr vs 0.60%/yr for IBMP. A 0.62 correlation means they provide meaningful diversification when combined. MBND charges 0.40%/yr vs 0.18%/yr for IBMP.
Performance
MBND vs. IBMP - 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 IBMP's 0.93% return.
MBND
- 1D
- 0.07%
- 1M
- 0.66%
- YTD
- 1.19%
- 6M
- 1.47%
- 1Y
- 5.23%
- 3Y*
- 3.72%
- 5Y*
- 0.64%
- 10Y*
- —
IBMP
- 1D
- 0.04%
- 1M
- 0.21%
- YTD
- 0.93%
- 6M
- 1.30%
- 1Y
- 3.02%
- 3Y*
- 2.93%
- 5Y*
- 0.60%
- 10Y*
- —
MBND vs. IBMP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MBND SPDR Nuveen Municipal Bond ETF | 1.19% | 2.90% | 2.75% | 5.62% | -8.61% | 0.59% |
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 0.93% | 3.52% | 1.26% | 3.49% | -6.09% | -0.43% |
Correlation
The correlation between MBND and IBMP is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.62 |
Over the past year, the correlation between MBND and IBMP has dropped to 0.18 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
MBND vs. IBMP — Risk / Return Rank
MBND
IBMP
MBND vs. IBMP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Municipal Bond ETF (MBND) and iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP). 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 | IBMP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.60 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 5.10 | -2.95 |
| Martin ratioReturn relative to average drawdown | 7.13 | 14.14 | -7.01 |
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 | IBMP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | 2.81 | -0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.23 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.38 | -0.17 |
Drawdowns
MBND vs. IBMP - Drawdown Comparison
The maximum MBND drawdown since its inception was -13.18%, smaller than the maximum IBMP drawdown of -15.24%. Use the drawdown chart below to compare losses from any high point for MBND and IBMP.
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Drawdown Indicators
| MBND | IBMP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -15.24% | +2.06% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | -0.59% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -2.63% | -1.94% |
Max Drawdown (5Y)Largest decline over 5 years | -13.18% | -10.00% | -3.18% |
Current DrawdownCurrent decline from peak | -0.55% | 0.00% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -2.72% | -1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 0.21% | +0.53% |
Volatility
MBND vs. IBMP - Volatility Comparison
SPDR Nuveen Municipal Bond ETF (MBND) has a higher volatility of 1.05% compared to iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) at 0.27%. This indicates that MBND's price experiences larger fluctuations and is considered to be riskier than IBMP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBND | IBMP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.27% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | 0.79% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.50% | 1.08% | +1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.48% | 2.56% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.41% | 5.00% | -1.59% |
MBND vs. IBMP - Expense Ratio Comparison
MBND has a 0.40% expense ratio, which is higher than IBMP's 0.18% expense ratio.
Dividends
MBND vs. IBMP - Dividend Comparison
MBND's dividend yield for the trailing twelve months is around 3.49%, more than IBMP's 2.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 2.50% | 2.47% | 2.35% | 2.05% | 1.26% | 0.86% | 1.16% | 1.06% |
MBND SPDR Nuveen Municipal Bond ETF | 3.49% | 3.43% | 2.72% | 2.53% | 1.61% | 1.62% | 0.00% | 0.00% |
Frequently Asked Questions
MBND and IBMP have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBND has higher volatility (1.05%) compared to IBMP (0.27%). In terms of maximum drawdown, MBND dropped -13.18% vs IBMP's -15.24%.
On 5-year performance, MBND leads with 0.64% vs 0.60% for IBMP. On fees, IBMP is cheaper at 0.18% per year. On volatility, IBMP has been the lower-risk option at 0.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MBND has performed better with a 0.64% return vs 0.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMP is cheaper with a 0.18% expense ratio, compared with 0.40% for MBND.
MBND has the higher dividend yield at 3.49%, compared with 2.50% for IBMP.
They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for MBND and 0.18% for IBMP.
IBMP currently has the higher Sharpe Ratio (2.81 vs 2.11), 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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