MIY vs. ETMOX
MIY (BlackRock MuniYield Michigan Quality Fund) and ETMOX (Eaton Vance Missouri Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, MIY returned 2.48%/yr vs 2.09%/yr for ETMOX. At a 0.28 correlation, their price movements are largely independent. MIY charges 2.25%/yr vs 0.69%/yr for ETMOX.
Performance
MIY vs. ETMOX - Performance Comparison
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Returns By Period
In the year-to-date period, MIY achieves a 5.87% return, which is significantly higher than ETMOX's 1.84% return. Over the past 10 years, MIY has outperformed ETMOX with an annualized return of 2.48%, while ETMOX has yielded a comparatively lower 2.09% annualized return.
MIY
- 1D
- -0.08%
- 1M
- 1.20%
- YTD
- 5.87%
- 6M
- 6.50%
- 1Y
- 16.13%
- 3Y*
- 8.91%
- 5Y*
- 0.27%
- 10Y*
- 2.48%
ETMOX
- 1D
- 0.00%
- 1M
- 1.67%
- YTD
- 1.84%
- 6M
- 2.25%
- 1Y
- 7.25%
- 3Y*
- 4.15%
- 5Y*
- 1.06%
- 10Y*
- 2.09%
MIY vs. ETMOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIY BlackRock MuniYield Michigan Quality Fund | 5.87% | 11.24% | 3.48% | 6.60% | -24.10% | 10.04% | 7.27% | 19.51% | -6.71% | 8.86% |
ETMOX Eaton Vance Missouri Municipal Income Fund | 1.84% | 5.40% | 2.11% | 4.97% | -8.67% | 0.71% | 5.23% | 7.30% | 1.87% | 3.11% |
Correlation
The correlation between MIY and ETMOX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.28 |
The correlation between MIY and ETMOX shifts across timeframes, from 0.28 (all time) to 0.48 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MIY vs. ETMOX — Risk / Return Rank
MIY
ETMOX
MIY vs. ETMOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Michigan Quality Fund (MIY) and Eaton Vance Missouri Municipal Income Fund (ETMOX). 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 | ETMOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.67 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 2.68 | -1.07 |
| Martin ratioReturn relative to average drawdown | 5.30 | 9.16 | -3.86 |
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Drawdowns
MIY vs. ETMOX - Drawdown Comparison
The maximum MIY drawdown since its inception was -42.19%, which is greater than ETMOX's maximum drawdown of -21.73%. Use the drawdown chart below to compare losses from any high point for MIY and ETMOX.
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Drawdown Indicators
| MIY | ETMOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.19% | -21.73% | -20.46% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -2.72% | -7.36% |
Max Drawdown (3Y)Largest decline over 3 years | -14.72% | -6.13% | -8.59% |
Max Drawdown (5Y)Largest decline over 5 years | -34.59% | -13.84% | -20.75% |
Max Drawdown (10Y)Largest decline over 10 years | -34.59% | -13.84% | -20.75% |
Current DrawdownCurrent decline from peak | -3.68% | -0.20% | -3.48% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -2.31% | -6.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 0.79% | +2.26% |
Volatility
MIY vs. ETMOX - Volatility Comparison
BlackRock MuniYield Michigan Quality Fund (MIY) has a higher volatility of 2.64% compared to Eaton Vance Missouri Municipal Income Fund (ETMOX) at 0.74%. This indicates that MIY's price experiences larger fluctuations and is considered to be riskier than ETMOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIY | ETMOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 0.74% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 10.44% | 2.10% | +8.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.76% | 2.77% | +8.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.67% | 3.96% | +7.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.97% | 3.94% | +8.03% |
MIY vs. ETMOX - Expense Ratio Comparison
MIY has a 2.25% expense ratio, which is higher than ETMOX's 0.69% expense ratio.
Dividends
MIY vs. ETMOX - Dividend Comparison
MIY's dividend yield for the trailing twelve months is around 5.40%, more than ETMOX's 3.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETMOX Eaton Vance Missouri Municipal Income Fund | 3.34% | 4.24% | 4.07% | 3.06% | 2.46% | 1.95% | 2.47% | 3.39% | 3.25% | 3.51% | 3.58% | 3.60% |
MIY BlackRock MuniYield Michigan Quality Fund | 5.40% | 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 ETMOX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIY has higher volatility (2.64%) compared to ETMOX (0.74%). In terms of maximum drawdown, MIY dropped -42.19% vs ETMOX's -21.73%.
ETMOX currently has the higher Sharpe Ratio (2.63 vs 1.38), 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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