MMIT vs. AMUN
MMIT (IQ MacKay Municipal Intermediate ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.24 correlation, their price movements are largely independent. MMIT charges 0.31%/yr vs 0.25%/yr for AMUN.
Performance
MMIT vs. AMUN - Performance Comparison
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Returns By Period
In the year-to-date period, MMIT achieves a 1.40% return, which is significantly higher than AMUN's 1.11% return.
MMIT
- 1D
- -0.04%
- 1M
- 0.50%
- YTD
- 1.40%
- 6M
- 1.79%
- 1Y
- 6.45%
- 3Y*
- 3.85%
- 5Y*
- 1.11%
- 10Y*
- —
AMUN
- 1D
- -0.02%
- 1M
- 0.32%
- YTD
- 1.11%
- 6M
- 1.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MMIT vs. AMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MMIT IQ MacKay Municipal Intermediate ETF | 1.40% | 0.61% |
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.11% | 0.14% |
Correlation
The correlation between MMIT and AMUN is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025 | 0.24 |
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Return for Risk
MMIT vs. AMUN — Risk / Return Rank
MMIT
AMUN
MMIT vs. AMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Intermediate ETF (MMIT) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.
| MMIT | AMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.53 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | — | — |
| Martin ratioReturn relative to average drawdown | 8.50 | — | — |
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
| MMIT | AMUN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.56 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 2.05 | -1.42 |
Drawdowns
MMIT vs. AMUN - Drawdown Comparison
The maximum MMIT drawdown since its inception was -12.28%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for MMIT and AMUN.
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Drawdown Indicators
| MMIT | AMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.28% | -0.61% | -11.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.28% | — | — |
Current DrawdownCurrent decline from peak | -0.77% | -0.02% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -0.09% | -2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | — | — |
Volatility
MMIT vs. AMUN - Volatility Comparison
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Volatility by Period
| MMIT | AMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.66% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 1.01% | +1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.54% | 1.01% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.30% | 1.01% | +3.29% |
MMIT vs. AMUN - Expense Ratio Comparison
MMIT has a 0.31% expense ratio, which is higher than AMUN's 0.25% expense ratio.
Dividends
MMIT vs. AMUN - Dividend Comparison
MMIT's dividend yield for the trailing twelve months is around 3.57%, more than AMUN's 1.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.89% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MMIT IQ MacKay Municipal Intermediate ETF | 3.57% | 3.54% | 3.76% | 3.46% | 2.30% | 1.81% | 2.59% | 4.14% | 2.46% | 0.35% |
Frequently Asked Questions
MMIT and AMUN 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.
On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMUN is cheaper with a 0.25% expense ratio, compared with 0.31% for MMIT.
MMIT has the higher dividend yield at 3.57%, compared with 1.89% for AMUN.
They also come from different issuers: New York Life and abrdn. Their fees differ too: 0.31% for MMIT and 0.25% for AMUN.
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