MNBD vs. MINO

Last updated Apr 1, 2026

Compare and contrast key facts about ALPS Intermediate Municipal Bond ETF (MNBD) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO).

MNBD and MINO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MNBD is an actively managed fund by ALPS. It was launched on May 19, 2022. MINO is an actively managed fund by PIMCO. It was launched on Sep 8, 2021.

Performance

MNBD vs. MINO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Intermediate Municipal Bond ETF (MNBD) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO). The values are adjusted to include any dividend payments, if applicable.

MNBD vs. MINO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MNBD ALPS Intermediate Municipal Bond ETF	0.30%	5.15%	2.41%	6.13%	3.12%
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund	0.32%	4.42%	3.13%	8.46%	1.84%

Returns By Period

In the year-to-date period, MNBD achieves a 0.30% return, which is significantly lower than MINO's 0.32% return.

MNBD

• 1D: 0.29%
• 1M: -1.92%
• YTD: 0.30%
• 6M: 1.71%
• 1Y: 5.05%
• 3Y*: 3.77%
• 5Y*: —
• 10Y*: —

MINO

• 1D: 0.24%
• 1M: -1.83%
• YTD: 0.32%
• 6M: 1.66%
• 1Y: 4.93%
• 3Y*: 4.49%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MNBD vs. MINO - Expense Ratio Comparison

MNBD has a 0.50% expense ratio, which is higher than MINO's 0.39% expense ratio.

MNBD

ALPS Intermediate Municipal Bond ETF

MINO

PIMCO Municipal Income Opportunities Active Exchange-Traded Fund

Return for Risk

MNBD vs. MINO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MNBD

MNBD Risk / Return Rank: 73
MNBD Sharpe Ratio Rank: 77
MNBD Sortino Ratio Rank: 73
MNBD Omega Ratio Rank: 84
MNBD Calmar Ratio Rank: 71
MNBD Martin Ratio Rank: 62

MINO

MINO Risk / Return Rank: 55
MINO Sharpe Ratio Rank: 60
MINO Sortino Ratio Rank: 51
MINO Omega Ratio Rank: 71
MINO Calmar Ratio Rank: 52
MINO Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MNBD vs. MINO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Intermediate Municipal Bond ETF (MNBD) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO). 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.

	MNBD	MINO	Difference
Sharpe ratio Return per unit of total volatility	1.46	1.06	+0.40
Sortino ratio Return per unit of downside risk	1.88	1.36	+0.52
Omega ratio Gain probability vs. loss probability	1.33	1.26	+0.07
Calmar ratio Return relative to maximum drawdown	1.85	1.33	+0.52
Martin ratio Return relative to average drawdown	6.27	3.75	+2.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MNBD vs. MINO - Sharpe Ratio Comparison

The current MNBD Sharpe Ratio is 1.46, which is higher than the MINO Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of MNBD and MINO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MNBD	MINO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.06	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	0.25	+0.92

Correlation

The correlation between MNBD and MINO is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MNBD vs. MINO - Dividend Comparison

MNBD's dividend yield for the trailing twelve months is around 3.34%, less than MINO's 3.81% yield.

	TTM	2025	2024	2023	2022	2021
MNBD ALPS Intermediate Municipal Bond ETF	3.34%	3.32%	3.83%	3.44%	2.40%	0.00%
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund	3.81%	3.71%	3.91%	3.78%	2.87%	0.29%

Drawdowns

MNBD vs. MINO - Drawdown Comparison

The maximum MNBD drawdown since its inception was -5.89%, smaller than the maximum MINO drawdown of -15.24%. Use the drawdown chart below to compare losses from any high point for MNBD and MINO.

Drawdown Indicators

	MNBD	MINO	Difference
Max Drawdown Largest peak-to-trough decline	-5.89%	-15.24%	+9.35%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-3.83%	+0.95%
Current Drawdown Current decline from peak	-1.92%	-1.83%	-0.09%
Average Drawdown Average peak-to-trough decline	-1.09%	-4.38%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	1.36%	-0.51%

Volatility

MNBD vs. MINO - Volatility Comparison

ALPS Intermediate Municipal Bond ETF (MNBD) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) have volatilities of 1.17% and 1.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNBD	MINO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	1.18%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	1.79%	1.76%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.48%	4.67%	-1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.83%	4.60%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.83%	4.60%	-0.77%