MKTN vs. IBMR

Last updated Jun 4, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and IBMR (iShares iBonds Dec 2029 Term Muni Bond ETF) are both exchange-traded funds - MKTN is a Long-Short fund actively managed by Federated Hermes, while IBMR is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted 2029 Index. MKTN is actively managed, while IBMR is passively managed. At a correlation of -0.19, they often move in opposite directions.

Performance

MKTN vs. IBMR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral ETF (MKTN) and iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MKTN achieves a 1.27% return, which is significantly higher than IBMR's 0.65% return.

MKTN

• 1D: 0.12%
• 1M: 1.01%
• YTD: 1.27%
• 6M: 4.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMR

• 1D: -0.06%
• 1M: 0.21%
• YTD: 0.65%
• 6M: 0.99%
• 1Y: 3.93%
• 3Y*: 3.46%
• 5Y*: —
• 10Y*: —

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

MKTN vs. IBMR - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	1.27%	3.53%
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF	0.65%	0.42%

Correlation

The correlation between MKTN and IBMR is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025	-0.19

Return for Risk

MKTN vs. IBMR — Risk / Return Rank

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

IBMR

IBMR Risk / Return Rank: 64
IBMR Sharpe Ratio Rank: 70
IBMR Sortino Ratio Rank: 74
IBMR Omega Ratio Rank: 82
IBMR Calmar Ratio Rank: 52
IBMR Martin Ratio Rank: 42

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.

MKTN vs. IBMR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR). 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.

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

Sharpe Ratios by Period

	MKTN	IBMR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.92	+0.14

Drawdowns

MKTN vs. IBMR - Drawdown Comparison

The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum IBMR drawdown of -4.83%. Use the drawdown chart below to compare losses from any high point for MKTN and IBMR.

Drawdown Indicators

	MKTN	IBMR	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-4.83%	+0.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.55%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.72%	—
Current Drawdown Current decline from peak	-0.65%	-0.74%	+0.09%
Average Drawdown Average peak-to-trough decline	-1.13%	-1.02%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.58%	—

Volatility

Volatility by Period

	MKTN	IBMR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.81%	1.75%	+5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	3.07%	+3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	3.07%	+3.74%

Dividends

MKTN vs. IBMR - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.50%, less than IBMR's 2.55% yield.

Position	TTM	2025	2024	2023
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF	2.55%	2.55%	2.53%	1.27%
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MKTN and IBMR in my portfolio?

MKTN and IBMR have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, MKTN or IBMR?

IBMR has the higher dividend yield at 2.55%, compared with 0.50% for MKTN.

What is the main difference between MKTN and IBMR?

MKTN is categorized as Long-Short, while IBMR is Municipal Bonds. They also come from different issuers: Federated Hermes and iShares.