MFSM vs. IEO
MFSM (MFS Active Intermediate Muni Bond ETF) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both exchange-traded funds - MFSM is a Municipal Bonds fund actively managed by MFS, while IEO is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Exploration & Production Index. MFSM is actively managed, while IEO is passively managed. Over the past year, MFSM returned 4.68% vs 47.44% for IEO. Their -0.21 correlation means they have often moved in opposite directions in the past. MFSM charges 0.34%/yr vs 0.38%/yr for IEO.
Performance
MFSM vs. IEO - Performance Comparison
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Returns By Period
In the year-to-date period, MFSM achieves a 0.59% return, which is significantly lower than IEO's 42.54% return.
MFSM
- 1D
- -0.20%
- 1M
- -1.75%
- 6M
- -0.22%
- YTD
- 0.59%
- 1Y
- 4.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.80%
IEO
- 1D
- 1.37%
- 1M
- 14.08%
- 6M
- 29.47%
- YTD
- 42.54%
- 1Y
- 47.44%
- 3Y*
- 12.66%
- 5Y*
- 23.53%
- 10Y*
- 11.48%
- ALL TIME*
- 6.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.85M | $6.98M | $8.74M | |
| $434.35K | $408.74K | $440.79K |
MFSM vs. IEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MFSM MFS Active Intermediate Muni Bond ETF | 0.59% | 5.25% | -1.14% |
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 42.54% | 2.15% | -5.50% |
Correlation
The correlation between MFSM and IEO is -0.33, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.33 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024 | -0.21 |
The correlation between MFSM and IEO shifts across timeframes, from -0.33 (1 year) to -0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MFSM vs. IEO — Risk / Return Rank
MFSM
IEO
MFSM vs. IEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Active Intermediate Muni Bond ETF (MFSM) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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 | IEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.27 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 2.64 | -0.66 |
| Martin ratioReturn relative to average drawdown | 6.64 | 6.61 | +0.03 |
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Drawdowns
MFSM vs. IEO - Drawdown Comparison
The maximum MFSM drawdown since its inception was -3.86%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for MFSM and IEO.
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Drawdown Indicators
| MFSM | IEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.86% | -79.17% | +75.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.65% | -16.32% | +13.67% |
Max Drawdown (3Y)Largest decline over 3 years | — | -31.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.00% | — |
Current DrawdownCurrent decline from peak | -1.89% | -1.83% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -0.86% | -26.14% | +25.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 6.54% | -5.75% |
Volatility
MFSM vs. IEO - Volatility Comparison
The current volatility for MFS Active Intermediate Muni Bond ETF (MFSM) is 0.88%, while iShares U.S. Oil & Gas Exploration & Production ETF (IEO) has a volatility of 7.46%. This indicates that MFSM experiences smaller price fluctuations and is considered to be less risky than IEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFSM | IEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 7.46% | -6.58% |
Volatility (6M)Calculated over the trailing 6-month period | 2.13% | 20.47% | -18.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.70% | 25.90% | -23.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.38% | 30.27% | -26.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.38% | 34.91% | -31.53% |
MFSM vs. IEO - Expense Ratio Comparison
MFSM has a 0.34% expense ratio, which is lower than IEO's 0.38% expense ratio.
Dividends
MFSM vs. IEO - Dividend Comparison
MFSM's dividend yield for the trailing twelve months is around 3.62%, more than IEO's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 1.85% | 2.61% | 2.63% | 3.00% | 3.77% | 2.62% | 3.17% | 1.85% | 1.67% | 0.94% | 0.98% | 2.03% |
MFSM MFS Active Intermediate Muni Bond ETF | 3.62% | 3.53% | 0.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MFSM and IEO have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEO has higher volatility (7.46%) compared to MFSM (0.88%). In terms of maximum drawdown, MFSM dropped -3.86% vs IEO's -79.17%.
On 1-year performance, IEO leads with 47.44% vs 4.68% for MFSM. On fees, MFSM is cheaper at 0.34% per year. On volatility, MFSM has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IEO has performed better with a 47.44% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MFSM is cheaper with a 0.34% expense ratio, compared with 0.38% for IEO.
MFSM has the higher dividend yield at 3.62%, compared with 1.85% for IEO.
MFSM is categorized as Municipal Bonds, while IEO is Energy Equities. They also come from different issuers: MFS and iShares. Their fees differ too: 0.34% for MFSM and 0.38% for IEO.
MFSM currently has the higher Sharpe Ratio (1.95 vs 1.67), 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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