MQY vs. MFM

Last updated Apr 1, 2026

Compare and contrast key facts about BlackRock MuniYield Quality Fund (MQY) and MFS Municipal Income Trust (MFM).

MQY is an actively managed fund by BlackRock. It was launched on Jul 21, 1992.

Performance

MQY vs. MFM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock MuniYield Quality Fund (MQY) and MFS Municipal Income Trust (MFM). The values are adjusted to include any dividend payments, if applicable.

MQY vs. MFM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MQY BlackRock MuniYield Quality Fund	-1.36%	4.28%	-0.06%	10.20%	-24.23%	2.67%	14.65%	20.89%	-10.12%	8.98%
MFM MFS Municipal Income Trust	0.58%	6.95%	8.35%	4.11%	-22.63%	9.45%	-0.87%	20.83%	-5.56%	9.45%

Returns By Period

In the year-to-date period, MQY achieves a -1.36% return, which is significantly lower than MFM's 0.58% return. Over the past 10 years, MQY has underperformed MFM with an annualized return of 1.24%, while MFM has yielded a comparatively higher 2.01% annualized return.

MQY

• 1D: 1.20%
• 1M: -7.02%
• YTD: -1.36%
• 6M: -2.87%
• 1Y: -0.29%
• 3Y*: 3.14%
• 5Y*: -2.07%
• 10Y*: 1.24%

MFM

• 1D: 3.26%
• 1M: -3.15%
• YTD: 0.58%
• 6M: 2.68%
• 1Y: 7.30%
• 3Y*: 5.22%
• 5Y*: -0.19%
• 10Y*: 2.01%

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

Return for Risk

MQY vs. MFM — Risk / Return Rank

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

MQY

MQY Risk / Return Rank: 5
MQY Sharpe Ratio Rank: 5
MQY Sortino Ratio Rank: 4
MQY Omega Ratio Rank: 4
MQY Calmar Ratio Rank: 5
MQY Martin Ratio Rank: 5

MFM

MFM Risk / Return Rank: 61
MFM Sharpe Ratio Rank: 64
MFM Sortino Ratio Rank: 55
MFM Omega Ratio Rank: 54
MFM Calmar Ratio Rank: 64
MFM Martin Ratio Rank: 66

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.

MQY vs. MFM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Quality Fund (MQY) and MFS Municipal Income Trust (MFM). 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.

	MQY	MFM	Difference
Sharpe ratio Return per unit of total volatility	-0.03	0.65	-0.67
Sortino ratio Return per unit of downside risk	0.04	0.98	-0.95
Omega ratio Gain probability vs. loss probability	1.01	1.13	-0.12
Calmar ratio Return relative to maximum drawdown	-0.06	1.00	-1.07
Martin ratio Return relative to average drawdown	-0.15	2.72	-2.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MQY vs. MFM - Sharpe Ratio Comparison

The current MQY Sharpe Ratio is -0.03, which is lower than the MFM Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of MQY and MFM, 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

	MQY	MFM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.03	0.65	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	-0.01	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.10	0.14	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.21	+0.14

Correlation

The correlation between MQY and MFM is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MQY vs. MFM - Dividend Comparison

MQY's dividend yield for the trailing twelve months is around 6.34%, more than MFM's 5.26% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MQY BlackRock MuniYield Quality Fund	6.34%	6.16%	6.04%	4.46%	5.87%	4.93%	4.21%	4.00%	5.24%	5.67%	6.10%	6.06%
MFM MFS Municipal Income Trust	5.26%	5.08%	4.65%	4.12%	4.85%	4.34%	4.70%	4.71%	5.91%	5.61%	5.72%	5.76%

Drawdowns

MQY vs. MFM - Drawdown Comparison

The maximum MQY drawdown since its inception was -41.67%, smaller than the maximum MFM drawdown of -54.24%. Use the drawdown chart below to compare losses from any high point for MQY and MFM.

Drawdown Indicators

	MQY	MFM	Difference
Max Drawdown Largest peak-to-trough decline	-41.67%	-54.24%	+12.57%
Max Drawdown (1Y) Largest decline over 1 year	-9.89%	-7.26%	-2.63%
Max Drawdown (5Y) Largest decline over 5 years	-35.44%	-34.39%	-1.05%
Max Drawdown (10Y) Largest decline over 10 years	-35.97%	-34.39%	-1.58%
Current Drawdown Current decline from peak	-17.88%	-9.50%	-8.38%
Average Drawdown Average peak-to-trough decline	-8.25%	-8.95%	+0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	2.68%	+1.47%

Volatility

MQY vs. MFM - Volatility Comparison

The current volatility for BlackRock MuniYield Quality Fund (MQY) is 3.20%, while MFS Municipal Income Trust (MFM) has a volatility of 4.49%. This indicates that MQY experiences smaller price fluctuations and is considered to be less risky than MFM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MQY	MFM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	4.49%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	7.85%	-1.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.96%	11.34%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.06%	14.08%	-2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.00%	14.84%	-1.84%