MNBD vs. OEFA

Last updated Jun 4, 2026

MNBD (ALPS Intermediate Municipal Bond ETF) and OEFA (ALPS O'Shares International Developed Quality Dividend ETF) are both exchange-traded funds - MNBD is a Municipal Bonds fund actively managed by ALPS, while OEFA is a International Equity fund tracking the O’Shares International Developed Quality Dividend Index. MNBD is actively managed, while OEFA is passively managed. At a 0.32 correlation, their price movements are largely independent. MNBD charges 0.50%/yr vs 0.48%/yr for OEFA.

Performance

MNBD vs. OEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Intermediate Municipal Bond ETF (MNBD) and ALPS O'Shares International Developed Quality Dividend ETF (OEFA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNBD achieves a 1.33% return, which is significantly lower than OEFA's 2.78% return.

MNBD

• 1D: -0.26%
• 1M: 0.34%
• YTD: 1.33%
• 6M: 1.65%
• 1Y: 6.31%
• 3Y*: 4.51%
• 5Y*: —
• 10Y*: —

OEFA

• 1D: 0.48%
• 1M: 2.80%
• YTD: 2.78%
• 6M: 5.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MNBD vs. OEFA - Yearly Performance Comparison

	2026 (YTD)	2025
MNBD ALPS Intermediate Municipal Bond ETF	1.33%	1.31%
OEFA ALPS O'Shares International Developed Quality Dividend ETF	2.78%	0.25%

Correlation

The correlation between MNBD and OEFA is 0.32, 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 2, 2025	0.32

MNBD vs. OEFA - Sectors Allocation Comparison

Sectors	MNBD	OEFA
Basic Materials	-	-
Communication Services	-	5.2%
Consumer Cyclical	-	15.3%
Consumer Defensive	-	9.4%
Energy	-	-
Healthcare	-	15.2%
Industrials	-	27.4%
Real Estate	-	-
Technology	-	13.1%
Utilities	-	3.3%
Financial Services	-1.0%	11.3%

Return for Risk

MNBD vs. OEFA — Risk / Return Rank

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

MNBD

MNBD Risk / Return Rank: 71
MNBD Sharpe Ratio Rank: 78
MNBD Sortino Ratio Rank: 83
MNBD Omega Ratio Rank: 88
MNBD Calmar Ratio Rank: 55
MNBD Martin Ratio Rank: 52

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. OEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Intermediate Municipal Bond ETF (MNBD) and ALPS O'Shares International Developed Quality Dividend ETF (OEFA). 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	OEFA	Difference
Sharpe ratio Return per unit of total volatility	2.53	—	—
Sortino ratio Return per unit of downside risk	3.71	—	—
Omega ratio Gain probability vs. loss probability	1.55	—	—
Calmar ratio Return relative to maximum drawdown	2.66	—	—
Martin ratio Return relative to average drawdown	8.75	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MNBD	OEFA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	0.26	+0.94

Drawdowns

MNBD vs. OEFA - Drawdown Comparison

The maximum MNBD drawdown since its inception was -5.89%, smaller than the maximum OEFA drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for MNBD and OEFA.

Drawdown Indicators

	MNBD	OEFA	Difference
Max Drawdown Largest peak-to-trough decline	-5.89%	-13.54%	+7.65%
Max Drawdown (1Y) Largest decline over 1 year	-2.38%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.97%	—	—
Current Drawdown Current decline from peak	-0.92%	-3.45%	+2.53%
Average Drawdown Average peak-to-trough decline	-1.09%	-3.74%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	—	—

Volatility

Volatility by Period

	MNBD	OEFA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.50%	17.68%	-15.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.78%	17.68%	-13.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.78%	17.68%	-13.90%

MNBD vs. OEFA - Expense Ratio Comparison

MNBD has a 0.50% expense ratio, which is higher than OEFA's 0.48% expense ratio.

Dividends

MNBD vs. OEFA - Dividend Comparison

MNBD's dividend yield for the trailing twelve months is around 3.32%, more than OEFA's 0.91% yield.

Position	TTM	2025	2024	2023	2022
MNBD ALPS Intermediate Municipal Bond ETF	3.32%	3.32%	3.83%	3.44%	2.40%
OEFA ALPS O'Shares International Developed Quality Dividend ETF	0.91%	0.28%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MNBD and OEFA in my portfolio?

MNBD and OEFA have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MNBD or OEFA?

On fees, OEFA is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MNBD or OEFA?

OEFA is cheaper with a 0.48% expense ratio, compared with 0.50% for MNBD.

Which ETF pays a higher dividend yield, MNBD or OEFA?

MNBD has the higher dividend yield at 3.32%, compared with 0.91% for OEFA.

What is the main difference between MNBD and OEFA?

MNBD is categorized as Municipal Bonds, while OEFA is International Equity. Their fees differ too: 0.50% for MNBD and 0.48% for OEFA.