MMIN vs. IBMN
MMIN (IQ MacKay Municipal Insured ETF) and IBMN (iShares iBonds Dec 2025 Term Muni Bond ETF) are both Municipal Bonds funds - MMIN tracks the Bloomberg Barclays Municipal All Insured Bond Index while IBMN tracks the S&P AMT-Free Municipal Series Dec 2025 Index. Both are passively managed. Over the past 5 years, MMIN returned 0.74%/yr vs 0.47%/yr for IBMN. At a 0.46 correlation, their price movements are largely independent. MMIN charges 0.31%/yr vs 0.18%/yr for IBMN.
Performance
MMIN vs. IBMN - Performance Comparison
Loading charts...
Returns By Period
MMIN
- 1D
- 0.00%
- 1M
- 0.85%
- YTD
- 2.32%
- 6M
- 2.74%
- 1Y
- 9.31%
- 3Y*
- 4.21%
- 5Y*
- 0.74%
- 10Y*
- —
IBMN
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 1.20%
- 3Y*
- 2.44%
- 5Y*
- 0.47%
- 10Y*
- —
MMIN vs. IBMN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MMIN IQ MacKay Municipal Insured ETF | 2.32% | 4.65% | 0.93% | 7.45% | -11.20% | 1.35% | 7.47% | 8.08% | 2.63% |
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 0.00% | 2.49% | 2.33% | 2.42% | -4.43% | -0.41% | 4.83% | 6.87% | 2.91% |
Correlation
The correlation between MMIN and IBMN is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2018 | 0.46 |
Over the past year, the correlation between MMIN and IBMN has dropped to 0.22 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MMIN vs. IBMN — Risk / Return Rank
MMIN
IBMN
MMIN vs. IBMN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Insured ETF (MMIN) and iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN). 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 | IBMN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.66 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 6.02 | -2.76 |
| Martin ratioReturn relative to average drawdown | 11.93 | 24.21 | -12.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MMIN | IBMN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 2.12 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.28 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.58 | -0.20 |
Drawdowns
MMIN vs. IBMN - Drawdown Comparison
The maximum MMIN drawdown since its inception was -16.87%, which is greater than IBMN's maximum drawdown of -12.40%. Use the drawdown chart below to compare losses from any high point for MMIN and IBMN.
Loading charts...
Drawdown Indicators
| MMIN | IBMN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.87% | -12.40% | -4.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -0.25% | -2.62% |
Max Drawdown (3Y)Largest decline over 3 years | -7.22% | -1.10% | -6.12% |
Max Drawdown (5Y)Largest decline over 5 years | -16.87% | -7.36% | -9.51% |
Current DrawdownCurrent decline from peak | -0.08% | -0.05% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -4.32% | -1.81% | -2.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.10% | +0.68% |
Volatility
MMIN vs. IBMN - Volatility Comparison
IQ MacKay Municipal Insured ETF (MMIN) has a higher volatility of 1.16% compared to iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN) at 0.00%. This indicates that MMIN's price experiences larger fluctuations and is considered to be riskier than IBMN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MMIN | IBMN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.00% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 0.50% | +1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 0.71% | +3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 1.80% | +3.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.97% | 3.89% | +3.08% |
MMIN vs. IBMN - Expense Ratio Comparison
MMIN has a 0.31% expense ratio, which is higher than IBMN's 0.18% expense ratio.
Dividends
MMIN vs. IBMN - Dividend Comparison
MMIN's dividend yield for the trailing twelve months is around 4.12%, more than IBMN's 1.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 1.14% | 2.03% | 2.03% | 1.72% | 0.97% | 0.70% | 1.11% | 1.65% | 0.23% | 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 IBMN have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMIN has higher volatility (1.16%) compared to IBMN (0.00%). In terms of maximum drawdown, MMIN dropped -16.87% vs IBMN's -12.40%.
On 5-year performance, MMIN leads with 0.74% vs 0.47% for IBMN. On fees, IBMN is cheaper at 0.18% per year. On volatility, IBMN has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MMIN has performed better with a 0.74% return vs 0.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMN is cheaper with a 0.18% expense ratio, compared with 0.31% for MMIN.
MMIN has the higher dividend yield at 4.12%, compared with 1.14% for IBMN.
MMIN tracks Bloomberg Barclays Municipal All Insured Bond Index, while IBMN tracks S&P AMT-Free Municipal Series Dec 2025 Index. They also come from different issuers: New York Life and iShares. Their fees differ too: 0.31% for MMIN and 0.18% for IBMN.
MMIN currently has the higher Sharpe Ratio (2.46 vs 2.12), 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.
Find the right allocation for MMIN and IBMN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer