MFM vs. MQY

Last updated Apr 1, 2026

Compare and contrast key facts about MFS Municipal Income Trust (MFM) and BlackRock MuniYield Quality Fund (MQY).

MQY is an actively managed fund by BlackRock. It was launched on Jul 21, 1992.

Performance

MFM vs. MQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Municipal Income Trust (MFM) and BlackRock MuniYield Quality Fund (MQY). The values are adjusted to include any dividend payments, if applicable.

MFM vs. MQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFM MFS Municipal Income Trust	0.58%	6.95%	8.35%	4.11%	-22.63%	9.45%	-0.87%	20.83%	-5.56%	9.45%
MQY BlackRock MuniYield Quality Fund	-1.36%	4.28%	-0.06%	10.20%	-24.23%	2.67%	14.65%	20.89%	-10.12%	8.98%

Returns By Period

In the year-to-date period, MFM achieves a 0.58% return, which is significantly higher than MQY's -1.36% return. Over the past 10 years, MFM has outperformed MQY with an annualized return of 2.01%, while MQY has yielded a comparatively lower 1.24% annualized return.

MFM

• 1D: 3.26%
• 1M: -3.15%
• YTD: 0.58%
• 6M: 2.68%
• 1Y: 7.30%
• 3Y*: 5.22%
• 5Y*: -0.19%
• 10Y*: 2.01%

MQY

• 1D: 1.20%
• 1M: -7.02%
• YTD: -1.36%
• 6M: -2.87%
• 1Y: -0.29%
• 3Y*: 3.14%
• 5Y*: -2.07%
• 10Y*: 1.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

MFM vs. MQY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MFM

MFM Risk / Return Rank: 61
MFM Sharpe Ratio Rank: 64
MFM Sortino Ratio Rank: 55
MFM Omega Ratio Rank: 54
MFM Calmar Ratio Rank: 64
MFM Martin Ratio Rank: 66

MQY

MQY Risk / Return Rank: 5
MQY Sharpe Ratio Rank: 5
MQY Sortino Ratio Rank: 4
MQY Omega Ratio Rank: 4
MQY Calmar Ratio Rank: 5
MQY Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MFM vs. MQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Municipal Income Trust (MFM) and BlackRock MuniYield Quality Fund (MQY). 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.

	MFM	MQY	Difference
Sharpe ratio Return per unit of total volatility	0.65	-0.03	+0.67
Sortino ratio Return per unit of downside risk	0.98	0.04	+0.95
Omega ratio Gain probability vs. loss probability	1.13	1.01	+0.12
Calmar ratio Return relative to maximum drawdown	1.00	-0.06	+1.07
Martin ratio Return relative to average drawdown	2.72	-0.15	+2.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFM vs. MQY - Sharpe Ratio Comparison

The current MFM Sharpe Ratio is 0.65, which is higher than the MQY Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of MFM and MQY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MFM	MQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	-0.03	+0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	-0.17	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.10	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.34	-0.14

Correlation

The correlation between MFM and MQY is 0.30, 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.

Dividends

MFM vs. MQY - Dividend Comparison

MFM's dividend yield for the trailing twelve months is around 5.26%, less than MQY's 6.34% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFM MFS Municipal Income Trust	5.26%	5.08%	4.65%	4.12%	4.85%	4.34%	4.70%	4.71%	5.91%	5.61%	5.72%	5.76%
MQY BlackRock MuniYield Quality Fund	6.34%	6.16%	6.04%	4.46%	5.87%	4.93%	4.21%	4.00%	5.24%	5.67%	6.10%	6.06%

Drawdowns

MFM vs. MQY - Drawdown Comparison

The maximum MFM drawdown since its inception was -54.24%, which is greater than MQY's maximum drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for MFM and MQY.

Drawdown Indicators

	MFM	MQY	Difference
Max Drawdown Largest peak-to-trough decline	-54.24%	-41.67%	-12.57%
Max Drawdown (1Y) Largest decline over 1 year	-7.26%	-9.89%	+2.63%
Max Drawdown (5Y) Largest decline over 5 years	-34.39%	-35.44%	+1.05%
Max Drawdown (10Y) Largest decline over 10 years	-34.39%	-35.97%	+1.58%
Current Drawdown Current decline from peak	-9.50%	-17.88%	+8.38%
Average Drawdown Average peak-to-trough decline	-8.95%	-8.25%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	4.15%	-1.47%

Volatility

MFM vs. MQY - Volatility Comparison

MFS Municipal Income Trust (MFM) has a higher volatility of 4.49% compared to BlackRock MuniYield Quality Fund (MQY) at 3.20%. This indicates that MFM's price experiences larger fluctuations and is considered to be riskier than MQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFM	MQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	3.20%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	5.97%	+1.88%
Volatility (1Y) Calculated over the trailing 1-year period	11.34%	10.96%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.08%	12.06%	+2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.84%	13.00%	+1.84%