MFSM vs. BRSM

Last updated Aug 1, 2026

MFSM (MFS Active Intermediate Muni Bond ETF) and BRSM (MFS Blended Research Small-Mid Cap ETF) are both exchange-traded funds - MFSM is a Municipal Bonds fund actively managed by MFS, while BRSM is a Mid Cap Blend Equities fund actively managed by MFS. Both are actively managed. Their 0.53 correlation means they have sometimes moved together and sometimes differently. MFSM charges 0.34%/yr vs 0.38%/yr for BRSM.

Performance

MFSM vs. BRSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Active Intermediate Muni Bond ETF (MFSM) and MFS Blended Research Small-Mid Cap ETF (BRSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MFSM

• 1D: -0.20%
• 1M: -1.75%
• 6M: -0.22%
• YTD: 0.59%
• 1Y: 4.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.80%

BRSM

• 1D: -0.49%
• 1M: -1.22%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BRSM MFS Blended Research Small-Mid Cap ETF	$110.85K	$221.25K	$782.10K
MFSM MFS Active Intermediate Muni Bond ETF	$434.35K	$408.74K	$440.79K

MFSM vs. BRSM - Yearly Performance Comparison

	2026 (YTD)
MFSM MFS Active Intermediate Muni Bond ETF	-1.12%
BRSM MFS Blended Research Small-Mid Cap ETF	1.56%

Correlation

The correlation between MFSM and BRSM is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026	0.53

Return for Risk

MFSM vs. BRSM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MFSM

MFSM Risk / Return Rank: 73
MFSM Sharpe Ratio Rank: 83
MFSM Sortino Ratio Rank: 85
MFSM Omega Ratio Rank: 88
MFSM Calmar Ratio Rank: 55
MFSM Martin Ratio Rank: 55

BRSM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MFSM vs. BRSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Active Intermediate Muni Bond ETF (MFSM) and MFS Blended Research Small-Mid Cap ETF (BRSM). 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.

	MFSM	BRSM	Difference
Sharpe ratio: Return per unit of total volatility	1.95	—	—
Sortino ratio: Return per unit of downside risk	2.85	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	1.98	—	—
Martin ratio: Return relative to average drawdown	6.64	—	—

Drawdowns

MFSM vs. BRSM - Drawdown Comparison

The maximum MFSM drawdown since its inception was -3.86%, which is greater than BRSM's maximum drawdown of -3.25%. Use the drawdown chart below to compare losses from any high point for MFSM and BRSM.

Drawdown Indicators

	MFSM	BRSM	Difference
Max Drawdown Largest peak-to-trough decline	-3.86%	-3.25%	-0.61%
Max Drawdown (1Y) Largest decline over 1 year	-2.65%	—	—
Current Drawdown Current decline from peak	-1.89%	-2.57%	+0.68%
Average Drawdown Average peak-to-trough decline	-0.86%	-1.40%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	—	—

Volatility

Volatility by Period

	MFSM	BRSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.70%	16.88%	-14.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.38%	16.88%	-13.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.38%	16.88%	-13.50%

MFSM vs. BRSM - Expense Ratio Comparison

MFSM has a 0.34% expense ratio, which is lower than BRSM's 0.38% expense ratio.

Dividends

MFSM vs. BRSM - Dividend Comparison

MFSM's dividend yield for the trailing twelve months is around 3.62%, while BRSM has not paid dividends to shareholders.

Position	TTM	2025	2024
BRSM MFS Blended Research Small-Mid Cap ETF	0.00%	0.00%	0.00%
MFSM MFS Active Intermediate Muni Bond ETF	3.62%	3.53%	0.23%

Frequently Asked Questions

Can I hold both MFSM and BRSM in my portfolio?

MFSM and BRSM have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MFSM or BRSM?

On fees, MFSM is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MFSM or BRSM?

MFSM is cheaper with a 0.34% expense ratio, compared with 0.38% for BRSM.

Which ETF pays a higher dividend yield, MFSM or BRSM?

MFSM has the higher dividend yield at 3.62%, compared with 0.00% for BRSM.

What is the main difference between MFSM and BRSM?

MFSM is categorized as Municipal Bonds, while BRSM is Mid Cap Blend Equities. Their fees differ too: 0.34% for MFSM and 0.38% for BRSM.