MMIN vs. VBIL
MMIN (IQ MacKay Municipal Insured ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both exchange-traded funds - MMIN is a Municipal Bonds fund tracking the Bloomberg Barclays Municipal All Insured Bond Index, while VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index. Both are passively managed. Over the past year, MMIN returned 9.31% vs 3.93% for VBIL. At a correlation of -0.08, they often move in opposite directions. MMIN charges 0.31%/yr vs 0.07%/yr for VBIL.
Performance
MMIN vs. VBIL - Performance Comparison
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Returns By Period
In the year-to-date period, MMIN achieves a 2.32% return, which is significantly higher than VBIL's 1.50% return.
MMIN
- 1D
- 0.00%
- 1M
- 0.85%
- YTD
- 2.32%
- 6M
- 2.74%
- 1Y
- 9.31%
- 3Y*
- 4.21%
- 5Y*
- 0.74%
- 10Y*
- —
VBIL
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.50%
- 6M
- 1.80%
- 1Y
- 3.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MMIN vs. VBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MMIN IQ MacKay Municipal Insured ETF | 2.32% | 3.88% |
VBIL Vanguard 0-3 Month Treasury Bill ETF | 1.50% | 3.71% |
Correlation
The correlation between MMIN and VBIL is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025 | -0.08 |
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Return for Risk
MMIN vs. VBIL — Risk / Return Rank
MMIN
VBIL
MMIN vs. VBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Insured ETF (MMIN) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). 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 | VBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.71 | ||
| Sortino ratioReturn per unit of downside risk | -35.45 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 21.10 | -19.61 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 42.61 | -39.36 |
| Martin ratioReturn relative to average drawdown | 11.93 | 532.54 | -520.61 |
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 | VBIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 15.17 | -12.71 |
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 | 13.44 | -13.06 |
Drawdowns
MMIN vs. VBIL - Drawdown Comparison
The maximum MMIN drawdown since its inception was -16.87%, which is greater than VBIL's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for MMIN and VBIL.
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Drawdown Indicators
| MMIN | VBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.87% | -0.09% | -16.78% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -0.09% | -2.78% |
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% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -4.32% | -0.00% | -4.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.01% | +0.77% |
Volatility
MMIN vs. VBIL - Volatility Comparison
IQ MacKay Municipal Insured ETF (MMIN) has a higher volatility of 1.16% compared to Vanguard 0-3 Month Treasury Bill ETF (VBIL) at 0.06%. This indicates that MMIN's price experiences larger fluctuations and is considered to be riskier than VBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMIN | VBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.06% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 0.16% | +2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.81% | 0.26% | +3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 0.30% | +4.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.97% | 0.30% | +6.67% |
MMIN vs. VBIL - Expense Ratio Comparison
MMIN has a 0.31% expense ratio, which is higher than VBIL's 0.07% expense ratio.
Dividends
MMIN vs. VBIL - Dividend Comparison
MMIN's dividend yield for the trailing twelve months is around 4.12%, more than VBIL's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VBIL Vanguard 0-3 Month Treasury Bill ETF | 3.65% | 3.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MMIN and VBIL have a correlation of -0.09, 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 VBIL (0.06%). In terms of maximum drawdown, MMIN dropped -16.87% vs VBIL's -0.09%.
On 1-year performance, MMIN leads with 9.31% vs 3.93% for VBIL. On fees, VBIL is cheaper at 0.07% per year. On volatility, VBIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MMIN has performed better with a 9.31% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VBIL is cheaper with a 0.07% expense ratio, compared with 0.31% for MMIN.
MMIN has the higher dividend yield at 4.12%, compared with 3.65% for VBIL.
MMIN is categorized as Municipal Bonds, while VBIL is Ultrashort Bond. MMIN tracks Bloomberg Barclays Municipal All Insured Bond Index, while VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index. They also come from different issuers: New York Life and Vanguard. Their fees differ too: 0.31% for MMIN and 0.07% for VBIL.
VBIL currently has the higher Sharpe Ratio (15.17 vs 2.46), 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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