MUNI vs. STPZ
Compare and contrast key facts about PIMCO Intermediate Municipal Bond Active ETF (MUNI) and PIMCO 1-5 Year US TIPS Index ETF (STPZ).
MUNI and STPZ 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. STPZ is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US Inflation-Linked Treasury (1-5 Y). It was launched on Aug 20, 2009.
Performance
MUNI vs. STPZ - Performance Comparison
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MUNI vs. STPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUNI PIMCO Intermediate Municipal Bond Active ETF | 0.11% | 4.72% | 1.43% | 6.07% | -6.62% | 0.67% | 4.83% | 7.09% | 0.84% | 4.86% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 0.83% | 6.40% | 4.30% | 4.28% | -4.49% | 5.64% | 5.44% | 4.83% | 0.04% | 0.51% |
Returns By Period
In the year-to-date period, MUNI achieves a 0.11% return, which is significantly lower than STPZ's 0.83% return. Over the past 10 years, MUNI has underperformed STPZ with an annualized return of 2.17%, while STPZ has yielded a comparatively higher 2.82% annualized return.
MUNI
- 1D
- 0.16%
- 1M
- -1.90%
- YTD
- 0.11%
- 6M
- 1.47%
- 1Y
- 4.63%
- 3Y*
- 3.33%
- 5Y*
- 1.30%
- 10Y*
- 2.17%
STPZ
- 1D
- 0.07%
- 1M
- -0.12%
- YTD
- 0.83%
- 6M
- 1.08%
- 1Y
- 3.83%
- 3Y*
- 4.47%
- 5Y*
- 3.05%
- 10Y*
- 2.82%
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MUNI vs. STPZ - Expense Ratio Comparison
MUNI has a 0.35% expense ratio, which is higher than STPZ's 0.20% expense ratio.
Return for Risk
MUNI vs. STPZ — Risk / Return Rank
MUNI
STPZ
MUNI vs. STPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Intermediate Municipal Bond Active ETF (MUNI) and PIMCO 1-5 Year US TIPS Index ETF (STPZ). 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 | STPZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.21 | 1.61 | -0.41 |
Sortino ratioReturn per unit of downside risk | 1.62 | 2.30 | -0.68 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.33 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.65 | 2.92 | -1.27 |
Martin ratioReturn relative to average drawdown | 5.54 | 8.71 | -3.17 |
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 | STPZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.21 | 1.61 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.93 | -0.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.95 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.89 | -0.12 |
Correlation
The correlation between MUNI and STPZ is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MUNI vs. STPZ - Dividend Comparison
MUNI's dividend yield for the trailing twelve months is around 3.28%, less than STPZ's 3.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.28% | 3.26% | 3.50% | 3.09% | 2.13% | 1.62% | 1.92% | 2.44% | 2.38% | 2.37% | 2.37% | 2.20% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 3.59% | 3.65% | 1.97% | 1.63% | 5.88% | 3.65% | 1.86% | 1.76% | 2.23% | 1.51% | 0.65% | 0.49% |
Drawdowns
MUNI vs. STPZ - Drawdown Comparison
The maximum MUNI drawdown since its inception was -11.15%, which is greater than STPZ's maximum drawdown of -6.77%. Use the drawdown chart below to compare losses from any high point for MUNI and STPZ.
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Drawdown Indicators
| MUNI | STPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.15% | -6.77% | -4.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -1.35% | -1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -11.15% | -6.70% | -4.45% |
Max Drawdown (10Y)Largest decline over 10 years | -11.15% | -6.77% | -4.38% |
Current DrawdownCurrent decline from peak | -1.90% | -0.37% | -1.53% |
Average DrawdownAverage peak-to-trough decline | -1.74% | -1.32% | -0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 0.45% | +0.42% |
Volatility
MUNI vs. STPZ - Volatility Comparison
PIMCO Intermediate Municipal Bond Active ETF (MUNI) has a higher volatility of 1.10% compared to PIMCO 1-5 Year US TIPS Index ETF (STPZ) at 0.72%. This indicates that MUNI's price experiences larger fluctuations and is considered to be riskier than STPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUNI | STPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.72% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 1.51% | 1.21% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 2.38% | +1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.30% | 3.30% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.85% | 2.98% | +0.87% |