MUNI vs. ABHYX
Compare and contrast key facts about PIMCO Intermediate Municipal Bond Active ETF (MUNI) and American Century High-Yield Municipal Fund (ABHYX).
MUNI is an actively managed fund by PIMCO. It was launched on Nov 30, 2009. ABHYX is managed by American Century. It was launched on Mar 30, 1998.
Performance
MUNI vs. ABHYX - Performance Comparison
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MUNI vs. ABHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUNI PIMCO Intermediate Municipal Bond Active ETF | 0.26% | 4.72% | 1.43% | 6.07% | -6.62% | 0.67% | 4.83% | 7.09% | 0.84% | 4.86% |
ABHYX American Century High-Yield Municipal Fund | -0.31% | 3.77% | 6.16% | 5.90% | -13.90% | 5.61% | 4.68% | 9.72% | 1.48% | 9.27% |
Returns By Period
In the year-to-date period, MUNI achieves a 0.26% return, which is significantly higher than ABHYX's -0.31% return. Over the past 10 years, MUNI has underperformed ABHYX with an annualized return of 2.18%, while ABHYX has yielded a comparatively higher 2.85% annualized return.
MUNI
- 1D
- 0.15%
- 1M
- -1.53%
- YTD
- 0.26%
- 6M
- 1.49%
- 1Y
- 4.51%
- 3Y*
- 3.39%
- 5Y*
- 1.33%
- 10Y*
- 2.18%
ABHYX
- 1D
- 0.35%
- 1M
- -2.26%
- YTD
- -0.31%
- 6M
- 1.15%
- 1Y
- 3.29%
- 3Y*
- 4.41%
- 5Y*
- 0.88%
- 10Y*
- 2.85%
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MUNI vs. ABHYX - Expense Ratio Comparison
MUNI has a 0.35% expense ratio, which is lower than ABHYX's 0.59% expense ratio.
Return for Risk
MUNI vs. ABHYX — Risk / Return Rank
MUNI
ABHYX
MUNI vs. ABHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Intermediate Municipal Bond Active ETF (MUNI) and American Century High-Yield Municipal Fund (ABHYX). 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.
| MUNI | ABHYX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.18 | 0.60 | +0.58 |
Sortino ratioReturn per unit of downside risk | 1.58 | 0.83 | +0.76 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.17 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.72 | +0.92 |
Martin ratioReturn relative to average drawdown | 5.45 | 2.19 | +3.26 |
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
| MUNI | ABHYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 0.60 | +0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.18 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.58 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 1.03 | -0.26 |
Correlation
The correlation between MUNI and ABHYX is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MUNI vs. ABHYX - Dividend Comparison
MUNI's dividend yield for the trailing twelve months is around 3.30%, less than ABHYX's 4.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.30% | 3.26% | 3.50% | 3.09% | 2.13% | 1.62% | 1.92% | 2.44% | 2.38% | 2.37% | 2.37% | 2.20% |
ABHYX American Century High-Yield Municipal Fund | 4.82% | 5.11% | 4.96% | 4.02% | 2.77% | 3.50% | 3.35% | 4.08% | 3.90% | 3.61% | 3.61% | 3.91% |
Drawdowns
MUNI vs. ABHYX - Drawdown Comparison
The maximum MUNI drawdown since its inception was -11.15%, smaller than the maximum ABHYX drawdown of -26.34%. Use the drawdown chart below to compare losses from any high point for MUNI and ABHYX.
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Drawdown Indicators
| MUNI | ABHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.15% | -26.34% | +15.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -6.09% | +3.16% |
Max Drawdown (5Y)Largest decline over 5 years | -11.15% | -18.54% | +7.39% |
Max Drawdown (10Y)Largest decline over 10 years | -11.15% | -18.54% | +7.39% |
Current DrawdownCurrent decline from peak | -1.75% | -2.59% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -1.74% | -3.12% | +1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.99% | -1.11% |
Volatility
MUNI vs. ABHYX - Volatility Comparison
The current volatility for PIMCO Intermediate Municipal Bond Active ETF (MUNI) is 1.07%, while American Century High-Yield Municipal Fund (ABHYX) has a volatility of 1.33%. This indicates that MUNI experiences smaller price fluctuations and is considered to be less risky than ABHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUNI | ABHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.33% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 2.09% | -0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 6.17% | -2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.30% | 4.90% | -1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.85% | 4.96% | -1.11% |