MUNI vs. VTEB
Compare and contrast key facts about PIMCO Intermediate Municipal Bond Active ETF (MUNI) and Vanguard Tax-Exempt Bond ETF (VTEB).
MUNI and VTEB 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. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MUNI or VTEB.
Key characteristics
| MUNI | VTEB | |
|---|---|---|
| YTD Return | 1.63% | 1.60% |
| 1Y Return | 7.83% | 7.56% |
| 3Y Return (Ann) | 0.43% | -0.17% |
| 5Y Return (Ann) | 1.55% | 1.30% |
| Sharpe Ratio | 2.29 | 1.80 |
| Sortino Ratio | 3.45 | 2.67 |
| Omega Ratio | 1.48 | 1.36 |
| Calmar Ratio | 1.11 | 0.88 |
| Martin Ratio | 11.34 | 7.97 |
| Ulcer Index | 0.67% | 0.90% |
| Daily Std Dev | 3.34% | 3.98% |
| Max Drawdown | -11.15% | -17.00% |
| Current Drawdown | -1.23% | -1.20% |
Correlation
The correlation between MUNI and VTEB is 0.67, 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. VTEB - Performance Comparison
The year-to-date returns for both stocks are quite close, with MUNI having a 1.63% return and VTEB slightly lower at 1.60%. 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. VTEB - Expense Ratio Comparison
MUNI has a 0.35% expense ratio, which is higher than VTEB's 0.05% expense ratio.
Risk-Adjusted Performance
MUNI vs. VTEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Intermediate Municipal Bond Active ETF (MUNI) and Vanguard Tax-Exempt Bond ETF (VTEB). 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. VTEB - Dividend Comparison
MUNI's dividend yield for the trailing twelve months is around 4.02%, more than VTEB's 3.09% 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.09% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
MUNI vs. VTEB - Drawdown Comparison
The maximum MUNI drawdown since its inception was -11.15%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for MUNI and VTEB. For additional features, visit the drawdowns tool.
Volatility
MUNI vs. VTEB - Volatility Comparison
The current volatility for PIMCO Intermediate Municipal Bond Active ETF (MUNI) is 1.59%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.96%. This indicates that MUNI experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.