MIY vs. COLTX
MIY (BlackRock MuniYield Michigan Quality Fund) and COLTX (Columbia Tax-Exempt Fund) are both Municipal Bonds funds. Over the past 10 years, MIY returned 2.52%/yr vs 1.67%/yr for COLTX. Their 0.27 correlation means their historical movements had little consistent relationship. MIY charges 2.25%/yr vs 0.73%/yr for COLTX.
Performance
MIY vs. COLTX - Performance Comparison
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Returns By Period
In the year-to-date period, MIY achieves a 5.90% return, which is significantly higher than COLTX's 0.64% return. Over the past 10 years, MIY has outperformed COLTX with an annualized return of 2.52%, while COLTX has yielded a comparatively lower 1.67% annualized return.
MIY
- 1D
- -1.23%
- 1M
- -1.28%
- 6M
- -0.35%
- YTD
- 5.90%
- 1Y
- 15.43%
- 3Y*
- 8.94%
- 5Y*
- -0.54%
- 10Y*
- 2.52%
- ALL TIME*
- 4.73%
COLTX
- 1D
- -0.17%
- 1M
- -2.53%
- 6M
- -0.02%
- YTD
- 0.64%
- 1Y
- 6.38%
- 3Y*
- 3.70%
- 5Y*
- 0.09%
- 10Y*
- 1.67%
- ALL TIME*
- 5.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $919.40K | $710.48K | $719.94K |
MIY vs. COLTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIY BlackRock MuniYield Michigan Quality Fund | 5.90% | 11.24% | 3.48% | 6.60% | -24.10% | 10.04% | 7.27% | 19.51% | -6.71% | 8.86% |
COLTX Columbia Tax-Exempt Fund | 0.64% | 3.86% | 3.47% | 6.60% | -12.56% | 3.01% | 3.37% | 8.15% | 0.19% | 6.15% |
Correlation
The correlation between MIY and COLTX is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.27 |
The correlation between MIY and COLTX shifts across timeframes, from 0.27 (all time) to 0.47 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MIY vs. COLTX — Risk / Return Rank
MIY
COLTX
MIY vs. COLTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Michigan Quality Fund (MIY) and Columbia Tax-Exempt Fund (COLTX). 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.
| MIY | COLTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.45 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 2.25 | -0.71 |
| Martin ratioReturn relative to average drawdown | 4.97 | 7.78 | -2.81 |
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Drawdowns
MIY vs. COLTX - Drawdown Comparison
The maximum MIY drawdown since its inception was -42.19%, which is greater than COLTX's maximum drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for MIY and COLTX.
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Drawdown Indicators
| MIY | COLTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.19% | -18.07% | -24.12% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -3.11% | -6.97% |
Max Drawdown (3Y)Largest decline over 3 years | -12.46% | -7.03% | -5.43% |
Max Drawdown (5Y)Largest decline over 5 years | -34.43% | -18.07% | -16.36% |
Max Drawdown (10Y)Largest decline over 10 years | -34.59% | -18.07% | -16.52% |
Current DrawdownCurrent decline from peak | -3.66% | -2.53% | -1.13% |
Average DrawdownAverage peak-to-trough decline | -8.29% | -2.62% | -5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 0.90% | +2.21% |
Volatility
MIY vs. COLTX - Volatility Comparison
BlackRock MuniYield Michigan Quality Fund (MIY) has a higher volatility of 2.51% compared to Columbia Tax-Exempt Fund (COLTX) at 1.17%. This indicates that MIY's price experiences larger fluctuations and is considered to be riskier than COLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIY | COLTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 1.17% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 9.88% | 2.79% | +7.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.79% | 3.58% | +8.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.68% | 5.26% | +6.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.97% | 4.99% | +6.98% |
MIY vs. COLTX - Expense Ratio Comparison
MIY has a 2.25% expense ratio, which is higher than COLTX's 0.73% expense ratio.
Dividends
MIY vs. COLTX - Dividend Comparison
MIY's dividend yield for the trailing twelve months is around 5.43%, more than COLTX's 3.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COLTX Columbia Tax-Exempt Fund | 3.51% | 4.91% | 3.66% | 3.15% | 3.05% | 3.20% | 3.27% | 4.60% | 3.80% | 3.86% | 4.15% | 4.13% |
MIY BlackRock MuniYield Michigan Quality Fund | 5.43% | 5.57% | 5.21% | 3.86% | 5.70% | 4.38% | 4.23% | 4.27% | 5.27% | 5.46% | 5.85% | 5.66% |
Frequently Asked Questions
MIY and COLTX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIY has higher volatility (2.51%) compared to COLTX (1.17%). In terms of maximum drawdown, MIY dropped -42.19% vs COLTX's -18.07%.
COLTX currently has the higher Sharpe Ratio (1.98 vs 1.32), 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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