MNBD vs. ENFR
MNBD (ALPS Intermediate Municipal Bond ETF) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - MNBD is a Municipal Bonds fund actively managed by ALPS, while ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index. MNBD is actively managed, while ENFR is passively managed. Over the past 3 years, MNBD returned 4.36%/yr vs 28.26%/yr for ENFR. At a 0.05 correlation, their price movements are largely independent. MNBD charges 0.50%/yr vs 0.35%/yr for ENFR.
Performance
MNBD vs. ENFR - Performance Comparison
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Returns By Period
In the year-to-date period, MNBD achieves a 1.85% return, which is significantly lower than ENFR's 23.07% return.
MNBD
- 1D
- 0.23%
- 1M
- 1.33%
- YTD
- 1.85%
- 6M
- 2.41%
- 1Y
- 6.28%
- 3Y*
- 4.36%
- 5Y*
- —
- 10Y*
- —
ENFR
- 1D
- 1.01%
- 1M
- -5.94%
- YTD
- 23.07%
- 6M
- 24.76%
- 1Y
- 24.84%
- 3Y*
- 28.26%
- 5Y*
- 19.69%
- 10Y*
- 11.81%
MNBD vs. ENFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MNBD ALPS Intermediate Municipal Bond ETF | 1.85% | 5.15% | 2.41% | 6.13% | 3.18% |
ENFR Alerian Energy Infrastructure ETF | 23.07% | 5.88% | 42.17% | 15.63% | -2.11% |
Correlation
The correlation between MNBD and ENFR is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 20, 2022 | 0.05 |
The correlation between MNBD and ENFR shifts across timeframes, from -0.17 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MNBD vs. ENFR — Risk / Return Rank
MNBD
ENFR
MNBD vs. ENFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS Intermediate Municipal Bond ETF (MNBD) and Alerian Energy Infrastructure ETF (ENFR). 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.
| MNBD | ENFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.29 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.89 | -0.24 |
| Martin ratioReturn relative to average drawdown | 8.44 | 7.40 | +1.04 |
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Drawdowns
MNBD vs. ENFR - Drawdown Comparison
The maximum MNBD drawdown since its inception was -5.89%, smaller than the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for MNBD and ENFR.
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Drawdown Indicators
| MNBD | ENFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.89% | -68.28% | +62.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.38% | -8.64% | +6.26% |
Max Drawdown (3Y)Largest decline over 3 years | -3.97% | -15.58% | +11.61% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.64% | — |
Current DrawdownCurrent decline from peak | -0.40% | -6.12% | +5.72% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -15.94% | +14.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 3.36% | -2.61% |
Volatility
MNBD vs. ENFR - Volatility Comparison
The current volatility for ALPS Intermediate Municipal Bond ETF (MNBD) is 0.70%, while Alerian Energy Infrastructure ETF (ENFR) has a volatility of 5.42%. This indicates that MNBD experiences smaller price fluctuations and is considered to be less risky than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNBD | ENFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 5.42% | -4.72% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 11.57% | -9.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.49% | 14.82% | -12.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.76% | 19.24% | -15.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.76% | 24.68% | -20.92% |
MNBD vs. ENFR - Expense Ratio Comparison
MNBD has a 0.50% expense ratio, which is higher than ENFR's 0.35% expense ratio.
Dividends
MNBD vs. ENFR - Dividend Comparison
MNBD's dividend yield for the trailing twelve months is around 3.32%, less than ENFR's 4.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 4.08% | 4.77% | 4.41% | 5.48% | 5.23% | 7.86% | 7.57% | 5.81% | 3.98% | 2.98% | 3.31% | 3.34% |
MNBD ALPS Intermediate Municipal Bond ETF | 3.32% | 3.32% | 3.83% | 3.44% | 2.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MNBD and ENFR have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENFR has higher volatility (5.42%) compared to MNBD (0.70%). In terms of maximum drawdown, MNBD dropped -5.89% vs ENFR's -68.28%.
On 3-year performance, ENFR leads with 28.26% vs 4.36% for MNBD. On fees, ENFR is cheaper at 0.35% per year. On volatility, MNBD has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ENFR has performed better with a 28.26% return vs 4.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ENFR is cheaper with a 0.35% expense ratio, compared with 0.50% for MNBD.
ENFR has the higher dividend yield at 4.08%, compared with 3.32% for MNBD.
MNBD is categorized as Municipal Bonds, while ENFR is Energy Equities. They also come from different issuers: ALPS and SS&C. Their fees differ too: 0.50% for MNBD and 0.35% for ENFR.
MNBD currently has the higher Sharpe Ratio (2.53 vs 1.69), 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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