MUB vs. IBIT
MUB (iShares National AMT-Free Muni Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, MUB returned 6.95% vs -38.74% for IBIT. At a 0.06 correlation, their price movements are largely independent. MUB charges 0.07%/yr vs 0.25%/yr for IBIT.
Performance
MUB vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, MUB achieves a 1.24% return, which is significantly higher than IBIT's -25.48% return.
MUB
- 1D
- -0.08%
- 1M
- 0.56%
- YTD
- 1.24%
- 6M
- 1.74%
- 1Y
- 6.95%
- 3Y*
- 3.43%
- 5Y*
- 0.86%
- 10Y*
- 2.00%
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUB vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 1.24% | 3.78% | 1.11% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between MUB and IBIT is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.06 |
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Return for Risk
MUB vs. IBIT — Risk / Return Rank
MUB
IBIT
MUB vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.28 | ||
| Sortino ratioReturn per unit of downside risk | +4.72 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 0.86 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | -0.79 | +3.29 |
| Martin ratioReturn relative to average drawdown | 8.85 | -1.36 | +10.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MUB | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.39 | -0.89 | +3.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.30 | +0.29 |
Drawdowns
MUB vs. IBIT - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for MUB and IBIT.
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Drawdown Indicators
| MUB | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -49.36% | +35.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -49.36% | +46.57% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.68% | — | — |
Current DrawdownCurrent decline from peak | -0.70% | -48.10% | +47.40% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -16.02% | +13.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 28.44% | -27.65% |
Volatility
MUB vs. IBIT - Volatility Comparison
The current volatility for iShares National AMT-Free Muni Bond ETF (MUB) is 0.97%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that MUB experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUB | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 9.50% | -8.53% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 34.44% | -32.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.92% | 43.73% | -40.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.06% | 50.19% | -46.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 50.19% | -45.27% |
MUB vs. IBIT - Expense Ratio Comparison
MUB has a 0.07% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MUB vs. IBIT - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 3.17%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 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 IBIT have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to MUB (0.97%). In terms of maximum drawdown, MUB dropped -13.68% vs IBIT's -49.36%.
On 1-year performance, MUB leads with 6.95% vs -38.74% for IBIT. On fees, MUB is cheaper at 0.07% per year. On volatility, MUB has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MUB has performed better with a 6.95% return vs -38.74%. 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 0.25% for IBIT.
MUB has the higher dividend yield at 3.17%, compared with 0.00% for IBIT.
MUB is categorized as Municipal Bonds, while IBIT is Cryptocurrency. MUB tracks S&P National AMT-Free Municipal Bond Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.07% for MUB and 0.25% for IBIT.
MUB currently has the higher Sharpe Ratio (2.39 vs -0.89), 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.
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