MUNI vs. MUB
Compare and contrast key facts about PIMCO Intermediate Municipal Bond Active ETF (MUNI) and iShares National AMT-Free Muni Bond ETF (MUB).
MUNI and MUB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MUNI is an actively managed fund by PIMCO. It was launched on Nov 30, 2009. MUB is a passively managed fund by iShares that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Sep 7, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MUNI or MUB.
Key characteristics
| MUNI | MUB | |
|---|---|---|
| YTD Return | -0.03% | -0.46% |
| 1Y Return | 4.24% | 2.76% |
| 3Y Return (Ann) | -0.01% | -0.62% |
| 5Y Return (Ann) | 1.60% | 1.26% |
| 10Y Return (Ann) | 2.20% | 2.17% |
| Sharpe Ratio | 1.22 | 0.63 |
| Daily Std Dev | 3.46% | 4.32% |
| Max Drawdown | -11.15% | -13.68% |
| Current Drawdown | -1.23% | -3.18% |
Correlation
The correlation between MUNI and MUB 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.
Performance
MUNI vs. MUB - Performance Comparison
In the year-to-date period, MUNI achieves a -0.03% return, which is significantly higher than MUB's -0.46% return. Both investments have delivered pretty close results over the past 10 years, with MUNI having a 2.20% annualized return and MUB not far behind at 2.17%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MUNI vs. MUB - Expense Ratio Comparison
MUNI has a 0.35% expense ratio, which is higher than MUB's 0.07% expense ratio.
Risk-Adjusted Performance
MUNI vs. MUB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Intermediate Municipal Bond Active ETF (MUNI) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
Dividends
MUNI vs. MUB - Dividend Comparison
MUNI's dividend yield for the trailing twelve months is around 3.84%, more than MUB's 2.80% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.84% | 3.63% | 2.13% | 1.62% | 1.92% | 2.44% | 2.57% | 2.37% | 2.37% | 2.20% | 1.91% | 2.30% |
MUB iShares National AMT-Free Muni Bond ETF | 2.80% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% | 2.73% | 3.02% |
Drawdowns
MUNI vs. MUB - Drawdown Comparison
The maximum MUNI drawdown since its inception was -11.15%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for MUNI and MUB. For additional features, visit the drawdowns tool.
Volatility
MUNI vs. MUB - Volatility Comparison
PIMCO Intermediate Municipal Bond Active ETF (MUNI) and iShares National AMT-Free Muni Bond ETF (MUB) have volatilities of 0.70% and 0.71%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.