MFLX vs. SUB
Compare and contrast key facts about First Trust Flexible Municipal High Income ETF (MFLX) and iShares Short-Term National Muni Bond ETF (SUB).
MFLX and SUB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MFLX is an actively managed fund by First Trust. It was launched on Sep 27, 2016. SUB is a passively managed fund by iShares that tracks the performance of the ICE Short Maturity AMT-Free US National Municipal Index - Benchmark TR Gross. It was launched on Nov 5, 2008.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MFLX or SUB.
Key characteristics
| MFLX | SUB | |
|---|---|---|
| YTD Return | 4.57% | 1.75% |
| 1Y Return | 13.86% | 3.58% |
| 3Y Return (Ann) | -2.68% | 0.89% |
| 5Y Return (Ann) | 1.52% | 1.10% |
| Sharpe Ratio | 1.33 | 2.44 |
| Sortino Ratio | 1.95 | 3.84 |
| Omega Ratio | 1.31 | 1.51 |
| Calmar Ratio | 0.67 | 2.72 |
| Martin Ratio | 14.25 | 11.85 |
| Ulcer Index | 0.98% | 0.31% |
| Daily Std Dev | 10.48% | 1.49% |
| Max Drawdown | -26.76% | -9.46% |
| Current Drawdown | -9.69% | -0.59% |
Correlation
The correlation between MFLX and SUB is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
MFLX vs. SUB - Performance Comparison
In the year-to-date period, MFLX achieves a 4.57% return, which is significantly higher than SUB's 1.75% 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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MFLX vs. SUB - Expense Ratio Comparison
MFLX has a 0.88% expense ratio, which is higher than SUB's 0.07% expense ratio.
Risk-Adjusted Performance
MFLX vs. SUB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Flexible Municipal High Income ETF (MFLX) and iShares Short-Term National Muni Bond ETF (SUB). 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
MFLX vs. SUB - Dividend Comparison
MFLX's dividend yield for the trailing twelve months is around 3.68%, more than SUB's 2.05% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFLX First Trust Flexible Municipal High Income ETF | 3.68% | 3.65% | 4.29% | 3.72% | 3.22% | 2.97% | 3.74% | 3.81% | 0.98% | 0.00% | 0.00% | 0.00% |
SUB iShares Short-Term National Muni Bond ETF | 2.05% | 1.73% | 0.86% | 0.72% | 1.23% | 1.59% | 1.32% | 0.94% | 0.75% | 0.77% | 0.76% | 0.84% |
Drawdowns
MFLX vs. SUB - Drawdown Comparison
The maximum MFLX drawdown since its inception was -26.76%, which is greater than SUB's maximum drawdown of -9.46%. Use the drawdown chart below to compare losses from any high point for MFLX and SUB. For additional features, visit the drawdowns tool.
Volatility
MFLX vs. SUB - Volatility Comparison
First Trust Flexible Municipal High Income ETF (MFLX) has a higher volatility of 2.67% compared to iShares Short-Term National Muni Bond ETF (SUB) at 0.65%. This indicates that MFLX's price experiences larger fluctuations and is considered to be riskier than SUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.