MUNI vs. SCHP
Compare and contrast key facts about PIMCO Intermediate Municipal Bond Active ETF (MUNI) and Schwab U.S. TIPS ETF (SCHP).
MUNI and SCHP 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. SCHP is a passively managed fund by Charles Schwab that tracks the performance of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). It was launched on Aug 5, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MUNI or SCHP.
Key characteristics
| MUNI | SCHP | |
|---|---|---|
| YTD Return | 1.69% | 3.02% |
| 1Y Return | 7.61% | 7.16% |
| 3Y Return (Ann) | 0.49% | -2.07% |
| 5Y Return (Ann) | 1.51% | 2.22% |
| 10Y Return (Ann) | 2.24% | 2.20% |
| Sharpe Ratio | 2.37 | 1.45 |
| Sortino Ratio | 3.57 | 2.16 |
| Omega Ratio | 1.51 | 1.26 |
| Calmar Ratio | 1.19 | 0.57 |
| Martin Ratio | 11.65 | 6.79 |
| Ulcer Index | 0.68% | 1.06% |
| Daily Std Dev | 3.33% | 5.00% |
| Max Drawdown | -11.15% | -14.26% |
| Current Drawdown | -1.17% | -6.34% |
Correlation
The correlation between MUNI and SCHP is 0.43, 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. SCHP - Performance Comparison
In the year-to-date period, MUNI achieves a 1.69% return, which is significantly lower than SCHP's 3.02% return. Both investments have delivered pretty close results over the past 10 years, with MUNI having a 2.24% annualized return and SCHP not far behind at 2.20%. 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. SCHP - Expense Ratio Comparison
MUNI has a 0.35% expense ratio, which is higher than SCHP's 0.05% expense ratio.
Risk-Adjusted Performance
MUNI vs. SCHP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Intermediate Municipal Bond Active ETF (MUNI) and Schwab U.S. TIPS ETF (SCHP). 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. SCHP - Dividend Comparison
MUNI's dividend yield for the trailing twelve months is around 4.02%, more than SCHP's 2.82% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUNI PIMCO Intermediate Municipal Bond Active ETF | 4.02% | 3.63% | 2.13% | 1.62% | 1.92% | 2.44% | 2.57% | 2.37% | 2.37% | 2.20% | 1.91% | 2.30% |
SCHP Schwab U.S. TIPS ETF | 2.82% | 3.02% | 7.19% | 4.39% | 1.11% | 2.02% | 2.63% | 1.90% | 1.38% | 0.28% | 1.30% | 0.67% |
Drawdowns
MUNI vs. SCHP - Drawdown Comparison
The maximum MUNI drawdown since its inception was -11.15%, smaller than the maximum SCHP drawdown of -14.26%. Use the drawdown chart below to compare losses from any high point for MUNI and SCHP. For additional features, visit the drawdowns tool.
Volatility
MUNI vs. SCHP - Volatility Comparison
PIMCO Intermediate Municipal Bond Active ETF (MUNI) has a higher volatility of 1.59% compared to Schwab U.S. TIPS ETF (SCHP) at 1.18%. This indicates that MUNI's price experiences larger fluctuations and is considered to be riskier than SCHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.