MMIN vs. ACTHX
MMIN (IQ MacKay Municipal Insured ETF) and ACTHX (Invesco High Yield Municipal Fund) are both funds - MMIN is a Municipal Bonds fund tracking the Bloomberg Barclays Municipal All Insured Bond Index, while ACTHX is a High Yield Muni fund managed by Invesco. Over the past 5 years, MMIN returned 0.33%/yr vs 0.04%/yr for ACTHX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. MMIN charges 0.31%/yr vs 1.39%/yr for ACTHX.
Performance
MMIN vs. ACTHX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with MMIN having a 1.29% return and ACTHX slightly lower at 1.23%.
MMIN
- 1D
- 0.17%
- 1M
- -1.74%
- 6M
- 0.36%
- YTD
- 1.29%
- 1Y
- 7.00%
- 3Y*
- 3.83%
- 5Y*
- 0.33%
- 10Y*
- —
- ALL TIME*
- 2.45%
ACTHX
- 1D
- 0.00%
- 1M
- -2.51%
- 6M
- 0.78%
- YTD
- 1.23%
- 1Y
- 6.48%
- 3Y*
- 4.73%
- 5Y*
- 0.04%
- 10Y*
- 2.46%
- ALL TIME*
- 4.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $2.40M | $2.06M | $1.87M |
MMIN vs. ACTHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMIN IQ MacKay Municipal Insured ETF | 1.29% | 4.65% | 0.93% | 7.45% | -11.20% | 1.35% | 7.47% | 8.08% | 1.97% | 1.00% |
ACTHX Invesco High Yield Municipal Fund | 1.23% | 4.38% | 5.54% | 4.34% | -13.94% | 6.29% | 3.25% | 10.12% | 1.44% | 1.28% |
Correlation
The correlation between MMIN and ACTHX is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2017 | 0.60 |
The correlation between MMIN and ACTHX shifts across timeframes, from 0.58 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MMIN vs. ACTHX — Risk / Return Rank
MMIN
ACTHX
MMIN vs. ACTHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Insured ETF (MMIN) and Invesco High Yield Municipal Fund (ACTHX). 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.
| MMIN | ACTHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.42 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.25 | +0.20 |
| Martin ratioReturn relative to average drawdown | 8.39 | 7.91 | +0.48 |
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Drawdowns
MMIN vs. ACTHX - Drawdown Comparison
The maximum MMIN drawdown since its inception was -16.87%, smaller than the maximum ACTHX drawdown of -27.29%. Use the drawdown chart below to compare losses from any high point for MMIN and ACTHX.
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Drawdown Indicators
| MMIN | ACTHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.87% | -27.29% | +10.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.98% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -5.82% | -8.79% | +2.97% |
Max Drawdown (5Y)Largest decline over 5 years | -16.59% | -19.83% | +3.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.83% | — |
Current DrawdownCurrent decline from peak | -1.81% | -2.62% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -3.54% | -0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.84% | 0.00% |
Volatility
MMIN vs. ACTHX - Volatility Comparison
IQ MacKay Municipal Insured ETF (MMIN) has a higher volatility of 1.20% compared to Invesco High Yield Municipal Fund (ACTHX) at 1.00%. This indicates that MMIN's price experiences larger fluctuations and is considered to be riskier than ACTHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMIN | ACTHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.00% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.71% | 2.90% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 3.69% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.05% | 5.75% | -0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.92% | 5.40% | +1.52% |
MMIN vs. ACTHX - Expense Ratio Comparison
MMIN has a 0.31% expense ratio, which is lower than ACTHX's 1.39% expense ratio.
Dividends
MMIN vs. ACTHX - Dividend Comparison
MMIN's dividend yield for the trailing twelve months is around 4.06%, less than ACTHX's 4.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACTHX Invesco High Yield Municipal Fund | 4.98% | 7.14% | 5.64% | 4.22% | 4.72% | 3.95% | 4.33% | 4.70% | 4.78% | 4.71% | 5.11% | 4.93% |
MMIN IQ MacKay Municipal Insured ETF | 4.06% | 4.07% | 3.96% | 3.73% | 2.93% | 1.72% | 2.21% | 2.75% | 2.78% | 0.47% | 0.00% | 0.00% |
Frequently Asked Questions
MMIN and ACTHX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMIN has higher volatility (1.20%) compared to ACTHX (1.00%). In terms of maximum drawdown, MMIN dropped -16.87% vs ACTHX's -27.29%.
MMIN currently has the higher Sharpe Ratio (2.00 vs 1.82), 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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