MEAR vs. ZMUN
MEAR (iShares Short Maturity Municipal Bond ETF) and ZMUN (F/m Ultrashort Tax-Free Municipal ETF) are both Municipal Bonds funds. MEAR is actively managed, while ZMUN is passively managed. At a 0.12 correlation, their price movements are largely independent. MEAR charges 0.25%/yr vs 0.30%/yr for ZMUN.
Performance
MEAR vs. ZMUN - Performance Comparison
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Returns By Period
In the year-to-date period, MEAR achieves a 1.28% return, which is significantly lower than ZMUN's 1.89% return.
MEAR
- 1D
- 0.02%
- 1M
- 0.26%
- 6M
- 1.28%
- YTD
- 1.28%
- 1Y
- 2.99%
- 3Y*
- 3.55%
- 5Y*
- 2.46%
- 10Y*
- 1.79%
ZMUN
- 1D
- -0.06%
- 1M
- 0.27%
- 6M
- 1.88%
- YTD
- 1.89%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MEAR vs. ZMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MEAR iShares Short Maturity Municipal Bond ETF | 1.28% | 0.70% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 1.89% | 0.67% |
Correlation
The correlation between MEAR and ZMUN is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025 | 0.12 |
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Return for Risk
MEAR vs. ZMUN — Risk / Return Rank
MEAR
ZMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MEAR vs. ZMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Maturity Municipal Bond ETF (MEAR) and F/m Ultrashort Tax-Free Municipal ETF (ZMUN). 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.
| MEAR | ZMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.83 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.60 | — | — |
| Martin ratioReturn relative to average drawdown | 27.02 | — | — |
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Drawdowns
MEAR vs. ZMUN - Drawdown Comparison
The maximum MEAR drawdown since its inception was -2.68%, which is greater than ZMUN's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for MEAR and ZMUN.
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Drawdown Indicators
| MEAR | ZMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.68% | -0.10% | -2.58% |
Max Drawdown (1Y)Largest decline over 1 year | -0.47% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -0.86% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -1.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -2.68% | — | — |
Current DrawdownCurrent decline from peak | -0.00% | -0.06% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -0.01% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | — | — |
Volatility
MEAR vs. ZMUN - Volatility Comparison
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Volatility by Period
| MEAR | ZMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.60% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.86% | 0.54% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.98% | 0.54% | +0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.51% | 0.54% | +0.97% |
MEAR vs. ZMUN - Expense Ratio Comparison
MEAR has a 0.25% expense ratio, which is lower than ZMUN's 0.30% expense ratio.
Dividends
MEAR vs. ZMUN - Dividend Comparison
MEAR's dividend yield for the trailing twelve months is around 2.83%, more than ZMUN's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MEAR iShares Short Maturity Municipal Bond ETF | 2.83% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.59% | 0.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MEAR and ZMUN have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MEAR is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MEAR is cheaper with a 0.25% expense ratio, compared with 0.30% for ZMUN.
MEAR has the higher dividend yield at 2.83%, compared with 2.59% for ZMUN.
They also come from different issuers: iShares and F/m Investments. Their fees differ too: 0.25% for MEAR and 0.30% for ZMUN.
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