MUB vs. GII
MUB (iShares National AMT-Free Muni Bond ETF) and GII (SPDR S&P Global Infrastructure ETF) are both exchange-traded funds - MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index, while GII is a Utilities Equities fund tracking the S&P Global Infrastructure. Both are passively managed. Over the past 10 years, MUB returned 1.94%/yr vs 8.22%/yr for GII. At a 0.05 correlation, their price movements are largely independent. MUB charges 0.07%/yr vs 0.40%/yr for GII.
Performance
MUB vs. GII - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MUB achieves a 1.17% return, which is significantly lower than GII's 6.75% return. Over the past 10 years, MUB has underperformed GII with an annualized return of 1.94%, while GII has yielded a comparatively higher 8.22% 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%
GII
- 1D
- -0.87%
- 1M
- -2.02%
- YTD
- 6.75%
- 6M
- 7.80%
- 1Y
- 13.78%
- 3Y*
- 15.30%
- 5Y*
- 9.70%
- 10Y*
- 8.22%
MUB vs. GII - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
GII SPDR S&P Global Infrastructure ETF | 6.75% | 21.79% | 14.30% | 5.90% | -0.54% | 11.39% | -6.81% | 26.32% | -10.08% | 19.07% |
Correlation
The correlation between MUB and GII is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2007 | 0.05 |
Over the past year, MUB and GII have become more correlated (0.26) than their long-term average of 0.05, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MUB vs. GII — Risk / Return Rank
MUB
GII
MUB vs. GII - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) and SPDR S&P Global Infrastructure ETF (GII). 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.
| MUB | GII | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.23 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.33 | +0.19 |
| Martin ratioReturn relative to average drawdown | 8.85 | 7.00 | +1.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MUB | GII | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.42 | 1.28 | +1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.69 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.48 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.28 | +0.30 |
Drawdowns
MUB vs. GII - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, smaller than the maximum GII drawdown of -50.98%. Use the drawdown chart below to compare losses from any high point for MUB and GII.
Loading charts...
Drawdown Indicators
| MUB | GII | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -50.98% | +37.30% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -5.94% | +3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | -14.31% | +8.97% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -20.67% | +8.79% |
Max Drawdown (10Y)Largest decline over 10 years | -13.68% | -42.84% | +29.16% |
Current DrawdownCurrent decline from peak | -0.77% | -5.42% | +4.65% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -11.51% | +9.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 1.97% | -1.18% |
Volatility
MUB vs. GII - Volatility Comparison
The current volatility for iShares National AMT-Free Muni Bond ETF (MUB) is 0.99%, while SPDR S&P Global Infrastructure ETF (GII) has a volatility of 3.74%. This indicates that MUB experiences smaller price fluctuations and is considered to be less risky than GII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MUB | GII | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 3.74% | -2.75% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 8.87% | -6.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 10.81% | -7.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.06% | 14.11% | -10.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 17.15% | -12.23% |
MUB vs. GII - Expense Ratio Comparison
MUB has a 0.07% expense ratio, which is lower than GII's 0.40% expense ratio.
Dividends
MUB vs. GII - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 3.18%, more than GII's 2.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GII SPDR S&P Global Infrastructure ETF | 2.74% | 3.17% | 3.23% | 3.70% | 3.07% | 2.37% | 2.66% | 3.39% | 3.31% | 3.38% | 3.11% | 3.54% |
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 GII have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GII has higher volatility (3.74%) compared to MUB (0.99%). In terms of maximum drawdown, MUB dropped -13.68% vs GII's -50.98%.
On 10-year performance, GII leads with 8.22% 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, GII has performed better with a 8.22% 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 0.40% for GII.
MUB has the higher dividend yield at 3.18%, compared with 2.74% for GII.
MUB is categorized as Municipal Bonds, while GII is Utilities Equities. MUB tracks S&P National AMT-Free Municipal Bond Index, while GII tracks S&P Global Infrastructure. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for MUB and 0.40% for GII.
MUB currently has the higher Sharpe Ratio (2.42 vs 1.28), 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.
Find the right allocation for MUB and GII
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