MMIN vs. AMJB
MMIN (IQ MacKay Municipal Insured ETF) and AMJB (Alerian MLP Index ETN) are both exchange-traded funds - MMIN is a Municipal Bonds fund tracking the Bloomberg Barclays Municipal All Insured Bond Index, while AMJB is a Energy Equities fund tracking the Alerian MLP Index. Both are passively managed. Over the past year, MMIN returned 9.31% vs 15.68% for AMJB. At a correlation of -0.06, they often move in opposite directions. MMIN charges 0.31%/yr vs 0.85%/yr for AMJB.
Performance
MMIN vs. AMJB - Performance Comparison
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Returns By Period
In the year-to-date period, MMIN achieves a 2.32% return, which is significantly lower than AMJB's 17.69% return.
MMIN
- 1D
- 0.00%
- 1M
- 0.85%
- YTD
- 2.32%
- 6M
- 2.74%
- 1Y
- 9.31%
- 3Y*
- 4.21%
- 5Y*
- 0.74%
- 10Y*
- —
AMJB
- 1D
- 1.62%
- 1M
- -1.98%
- YTD
- 17.69%
- 6M
- 15.52%
- 1Y
- 15.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MMIN vs. AMJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MMIN IQ MacKay Municipal Insured ETF | 2.32% | 4.65% | 2.26% |
AMJB Alerian MLP Index ETN | 17.69% | 1.36% | 10.85% |
Correlation
The correlation between MMIN and AMJB is -0.24, 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 (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2024 | -0.06 |
The correlation between MMIN and AMJB shifts across timeframes, from -0.24 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MMIN vs. AMJB — Risk / Return Rank
MMIN
AMJB
MMIN vs. AMJB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Insured ETF (MMIN) and Alerian MLP Index ETN (AMJB). 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.
| MMIN | AMJB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.18 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 1.60 | +1.66 |
| Martin ratioReturn relative to average drawdown | 11.93 | 4.73 | +7.20 |
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
| MMIN | AMJB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 1.03 | +1.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.70 | -0.32 |
Drawdowns
MMIN vs. AMJB - Drawdown Comparison
The maximum MMIN drawdown since its inception was -16.87%, roughly equal to the maximum AMJB drawdown of -17.70%. Use the drawdown chart below to compare losses from any high point for MMIN and AMJB.
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Drawdown Indicators
| MMIN | AMJB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.87% | -17.70% | +0.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -9.90% | +7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -7.22% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.87% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -6.06% | +5.98% |
Average DrawdownAverage peak-to-trough decline | -4.32% | -4.98% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 3.34% | -2.56% |
Volatility
MMIN vs. AMJB - Volatility Comparison
The current volatility for IQ MacKay Municipal Insured ETF (MMIN) is 1.16%, while Alerian MLP Index ETN (AMJB) has a volatility of 5.66%. This indicates that MMIN experiences smaller price fluctuations and is considered to be less risky than AMJB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMIN | AMJB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 5.66% | -4.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 12.18% | -9.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 15.37% | -11.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 18.19% | -13.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.97% | 18.19% | -11.22% |
MMIN vs. AMJB - Expense Ratio Comparison
MMIN has a 0.31% expense ratio, which is lower than AMJB's 0.85% expense ratio.
Dividends
MMIN vs. AMJB - Dividend Comparison
MMIN's dividend yield for the trailing twelve months is around 4.12%, while AMJB has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AMJB Alerian MLP Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MMIN IQ MacKay Municipal Insured ETF | 4.12% | 4.07% | 3.96% | 3.73% | 2.93% | 1.72% | 2.21% | 2.75% | 2.78% | 0.47% |
Frequently Asked Questions
MMIN and AMJB have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMJB has higher volatility (5.66%) compared to MMIN (1.16%). In terms of maximum drawdown, MMIN dropped -16.87% vs AMJB's -17.70%.
On 1-year performance, AMJB leads with 15.68% vs 9.31% for MMIN. On fees, MMIN is cheaper at 0.31% per year. On volatility, MMIN has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AMJB has performed better with a 15.68% return vs 9.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MMIN is cheaper with a 0.31% expense ratio, compared with 0.85% for AMJB.
MMIN has the higher dividend yield at 4.12%, compared with 0.00% for AMJB.
MMIN is categorized as Municipal Bonds, while AMJB is Energy Equities. MMIN tracks Bloomberg Barclays Municipal All Insured Bond Index, while AMJB tracks Alerian MLP Index. They also come from different issuers: New York Life and JPMorgan. Their fees differ too: 0.31% for MMIN and 0.85% for AMJB.
MMIN currently has the higher Sharpe Ratio (2.46 vs 1.03), 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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