PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
MUB vs. BIZD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MUB vs. BIZD

Last updated Jun 9, 2026

MUB (iShares National AMT-Free Muni Bond ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index, while BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. Both are passively managed. Over the past 10 years, MUB returned 1.94%/yr vs 7.80%/yr for BIZD. At a 0.00 correlation, their price movements are largely independent. MUB charges 0.07%/yr vs 12.86%/yr for BIZD.

Performance

MUB vs. BIZD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares National AMT-Free Muni Bond ETF (MUB) and VanEck BDC Income ETF (BIZD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, MUB achieves a 1.17% return, which is significantly higher than BIZD's -8.77% return. Over the past 10 years, MUB has underperformed BIZD with an annualized return of 1.94%, while BIZD has yielded a comparatively higher 7.80% annualized return.

MUB

1D
-0.03%
1M
0.21%
YTD
1.17%
6M
1.69%
1Y
6.99%
3Y*
3.29%
5Y*
0.77%
10Y*
1.94%

BIZD

1D
-0.32%
1M
-3.49%
YTD
-8.77%
6M
-11.00%
1Y
-13.11%
3Y*
4.91%
5Y*
3.86%
10Y*
7.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MUB vs. BIZD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MUB
iShares National AMT-Free Muni Bond ETF		1.17%3.78%1.26%5.56%-7.34%1.02%5.12%7.06%0.93%4.72%
BIZD
VanEck BDC Income ETF		-8.77%-4.96%15.63%27.02%-8.51%36.25%-7.12%30.87%-6.88%0.36%

Correlation

The correlation between MUB and BIZD is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.07

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (10Y)
Calculated over the trailing 10-year period

0.05

Correlation (All Time)
Calculated using the full available price history since Feb 13, 2013

0.00

The correlation between MUB and BIZD shifts across timeframes, from 0.00 (all time) to 0.12 (3 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares National AMT-Free Muni Bond ETF

VanEck BDC Income ETF

Often compared with MUB:
MUB vs. VTEBMUB vs. SUBMUB vs. CMFMUB vs. NYFMUB vs. MUNIMUB vs. HYDMUB vs. VWIUX
Often compared with BIZD:
BIZD vs. PBDCBIZD vs. ARCCBIZD vs. CEFSBIZD vs. PSPBIZD vs. PEXBIZD vs. PFLTBIZD vs. SCHD

Return for Risk

MUB vs. BIZD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MUB
MUB Risk / Return Rank: 7474
Overall Rank
MUB Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
MUB Sortino Ratio Rank: 8686
Sortino Ratio Rank
MUB Omega Ratio Rank: 8989
Omega Ratio Rank
MUB Calmar Ratio Rank: 5656
Calmar Ratio Rank
MUB Martin Ratio Rank: 5656
Martin Ratio Rank
BIZD
BIZD Risk / Return Rank: 44
Overall Rank
BIZD Sharpe Ratio Rank: 44
Sharpe Ratio Rank
BIZD Sortino Ratio Rank: 44
Sortino Ratio Rank
BIZD Omega Ratio Rank: 44
Omega Ratio Rank
BIZD Calmar Ratio Rank: 44
Calmar Ratio Rank
BIZD Martin Ratio Rank: 55
Martin Ratio Rank
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.

MUB vs. BIZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) and VanEck BDC Income ETF (BIZD). 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.

MUBBIZDDifference
Sharpe ratioReturn per unit of total volatility
2.42
-0.72

+3.14

Sortino ratioReturn per unit of downside risk
3.54
-0.94

+4.48

Omega ratioGain probability vs. loss probability

1.51

0.90

+0.61

Calmar ratioReturn relative to maximum drawdown

2.52

-0.59

+3.11

Martin ratioReturn relative to average drawdown

8.85

-1.03

+9.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUB vs. BIZD - Sharpe Ratio Comparison

The current MUB Sharpe Ratio is 2.42, which is higher than the BIZD Sharpe Ratio of -0.72. The chart below compares the historical Sharpe Ratios of MUB and BIZD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

MUBBIZDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.42

-0.72

+3.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.19

0.22

-0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.39

0.36

+0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.30

+0.28

Drawdowns

MUB vs. BIZD - Drawdown Comparison

The maximum MUB drawdown since its inception was -13.68%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for MUB and BIZD.

Loading charts...

Drawdown Indicators

MUBBIZDDifference

Max Drawdown

Largest peak-to-trough decline

-13.68%

-55.44%

+41.76%

Max Drawdown (1Y)

Largest decline over 1 year

-2.79%

-22.22%

+19.43%

Max Drawdown (3Y)

Largest decline over 3 years

-5.34%

-22.56%

+17.22%

Max Drawdown (5Y)

Largest decline over 5 years

-11.88%

-22.91%

+11.03%

Max Drawdown (10Y)

Largest decline over 10 years

-13.68%

-55.44%

+41.76%

Current Drawdown

Current decline from peak

-0.77%

-19.08%

+18.31%

Average Drawdown

Average peak-to-trough decline

-2.23%

-6.73%

+4.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.79%

12.79%

-12.00%

Volatility

MUB vs. BIZD - Volatility Comparison

The current volatility for iShares National AMT-Free Muni Bond ETF (MUB) is 0.99%, while VanEck BDC Income ETF (BIZD) has a volatility of 5.32%. This indicates that MUB experiences smaller price fluctuations and is considered to be less risky than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

MUBBIZDDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.99%

5.32%

-4.33%

Volatility (6M)

Calculated over the trailing 6-month period

2.23%

14.92%

-12.69%

Volatility (1Y)

Calculated over the trailing 1-year period

2.90%

18.31%

-15.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.06%

17.44%

-13.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.92%

21.76%

-16.84%

MUB vs. BIZD - Expense Ratio Comparison

MUB has a 0.07% expense ratio, which is lower than BIZD's 12.86% expense ratio.

Dividends

MUB vs. BIZD - Dividend Comparison

MUB's dividend yield for the trailing twelve months is around 3.18%, less than BIZD's 13.84% yield.

PositionTTM20252024202320222021202020192018201720162015
BIZD
VanEck BDC Income ETF		13.84%11.78%10.94%10.96%11.21%8.14%10.39%9.13%10.88%9.13%8.51%9.12%
MUB
iShares National AMT-Free Muni Bond ETF		3.18%3.14%3.01%2.65%2.11%1.81%2.11%2.42%2.46%2.26%2.21%2.51%

Frequently Asked Questions

MUB and BIZD have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BIZD has higher volatility (5.32%) compared to MUB (0.99%). In terms of maximum drawdown, MUB dropped -13.68% vs BIZD's -55.44%.

On 10-year performance, BIZD leads with 7.80% vs 1.94% for MUB. On fees, MUB is cheaper at 0.07% per year. On volatility, MUB has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, BIZD has performed better with a 7.80% return vs 1.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MUB is cheaper with a 0.07% expense ratio, compared with 12.86% for BIZD.

BIZD has the higher dividend yield at 13.84%, compared with 3.18% for MUB.

MUB is categorized as Municipal Bonds, while BIZD is Financials Equities. MUB tracks S&P National AMT-Free Municipal Bond Index, while BIZD tracks MVIS US Business Development Companies Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.07% for MUB and 12.86% for BIZD.

MUB currently has the higher Sharpe Ratio (2.42 vs -0.72), 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.

Portfolio Optimizer

Find the right allocation for MUB and BIZD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer