MMIBX vs. AFTEX
Compare and contrast key facts about MFS Municipal Income Fund (MMIBX) and American Funds Tax Exempt Bond Fund (AFTEX).
MMIBX is managed by MFS. It was launched on Dec 28, 1986. AFTEX is managed by American Funds. It was launched on Oct 2, 1979.
Performance
MMIBX vs. AFTEX - Performance Comparison
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MMIBX vs. AFTEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMIBX MFS Municipal Income Fund | -0.87% | 3.56% | 2.42% | 5.45% | -12.27% | 2.35% | 3.28% | 7.40% | 0.38% | 5.00% |
AFTEX American Funds Tax Exempt Bond Fund | -0.65% | 4.88% | 2.28% | 5.96% | -9.68% | 1.87% | 4.73% | 7.42% | 0.78% | 5.83% |
Returns By Period
In the year-to-date period, MMIBX achieves a -0.87% return, which is significantly lower than AFTEX's -0.65% return. Over the past 10 years, MMIBX has underperformed AFTEX with an annualized return of 1.39%, while AFTEX has yielded a comparatively higher 2.08% annualized return.
MMIBX
- 1D
- 0.25%
- 1M
- -2.77%
- YTD
- -0.87%
- 6M
- 0.36%
- 1Y
- 2.63%
- 3Y*
- 2.62%
- 5Y*
- -0.10%
- 10Y*
- 1.39%
AFTEX
- 1D
- 0.16%
- 1M
- -2.60%
- YTD
- -0.65%
- 6M
- 0.77%
- 1Y
- 3.69%
- 3Y*
- 3.27%
- 5Y*
- 0.79%
- 10Y*
- 2.08%
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MMIBX vs. AFTEX - Expense Ratio Comparison
MMIBX has a 1.45% expense ratio, which is higher than AFTEX's 0.50% expense ratio.
Return for Risk
MMIBX vs. AFTEX — Risk / Return Rank
MMIBX
AFTEX
MMIBX vs. AFTEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Municipal Income Fund (MMIBX) and American Funds Tax Exempt Bond Fund (AFTEX). 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.
| MMIBX | AFTEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.61 | 0.96 | -0.35 |
Sortino ratioReturn per unit of downside risk | 0.85 | 1.31 | -0.46 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.26 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.66 | 1.05 | -0.39 |
Martin ratioReturn relative to average drawdown | 1.95 | 3.52 | -1.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MMIBX | AFTEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 0.96 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | 0.21 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.55 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 1.42 | -0.61 |
Correlation
The correlation between MMIBX and AFTEX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MMIBX vs. AFTEX - Dividend Comparison
MMIBX's dividend yield for the trailing twelve months is around 2.96%, less than AFTEX's 3.04% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMIBX MFS Municipal Income Fund | 2.96% | 3.81% | 2.51% | 2.05% | 1.42% | 1.45% | 1.86% | 2.45% | 2.68% | 2.67% | 2.87% | 2.98% |
AFTEX American Funds Tax Exempt Bond Fund | 3.04% | 3.98% | 2.90% | 2.22% | 1.75% | 2.31% | 2.43% | 2.83% | 2.86% | 3.30% | 2.90% | 3.21% |
Drawdowns
MMIBX vs. AFTEX - Drawdown Comparison
The maximum MMIBX drawdown since its inception was -17.40%, which is greater than AFTEX's maximum drawdown of -14.55%. Use the drawdown chart below to compare losses from any high point for MMIBX and AFTEX.
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Drawdown Indicators
| MMIBX | AFTEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.40% | -14.55% | -2.85% |
Max Drawdown (1Y)Largest decline over 1 year | -5.47% | -4.51% | -0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -14.55% | -2.64% |
Max Drawdown (10Y)Largest decline over 10 years | -17.19% | -14.55% | -2.64% |
Current DrawdownCurrent decline from peak | -3.43% | -2.60% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -1.67% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 1.34% | +0.52% |
Volatility
MMIBX vs. AFTEX - Volatility Comparison
MFS Municipal Income Fund (MMIBX) has a higher volatility of 1.24% compared to American Funds Tax Exempt Bond Fund (AFTEX) at 1.00%. This indicates that MMIBX's price experiences larger fluctuations and is considered to be riskier than AFTEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMIBX | AFTEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.00% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 1.88% | 1.63% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.55% | 4.58% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.36% | 3.72% | +0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.32% | 3.77% | +0.55% |