MUNX vs. IBMM

Last updated Jun 7, 2026

MUNX (AMG GW&K Muni Income ETF) and IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) are both Municipal Bonds funds. MUNX is actively managed, while IBMM is passively managed. MUNX charges 0.29%/yr vs 0.18%/yr for IBMM.

Performance

MUNX vs. IBMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG GW&K Muni Income ETF (MUNX) and iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MUNX

• 1D: -0.25%
• 1M: 0.36%
• YTD: 1.74%
• 6M: 1.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MUNX vs. IBMM - Yearly Performance Comparison

	2026 (YTD)
MUNX AMG GW&K Muni Income ETF	0.46%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%

Return for Risk

MUNX vs. IBMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Muni Income ETF (MUNX) and iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MUNX	IBMM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	—	—

Drawdowns

MUNX vs. IBMM - Drawdown Comparison

The maximum MUNX drawdown since its inception was -2.95%, which is greater than IBMM's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for MUNX and IBMM.

Drawdown Indicators

	MUNX	IBMM	Difference
Max Drawdown Largest peak-to-trough decline	-2.95%	0.00%	-2.95%
Current Drawdown Current decline from peak	-0.50%	0.00%	-0.50%
Average Drawdown Average peak-to-trough decline	-0.64%	0.00%	-0.64%

Volatility

Volatility by Period

	MUNX	IBMM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.47%	0.00%	+3.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.47%	0.00%	+3.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.47%	0.00%	+3.47%

MUNX vs. IBMM - Expense Ratio Comparison

MUNX has a 0.29% expense ratio, which is higher than IBMM's 0.18% expense ratio.

Dividends

MUNX vs. IBMM - Dividend Comparison

MUNX's dividend yield for the trailing twelve months is around 1.95%, while IBMM has not paid dividends to shareholders.

Position	TTM	2025
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%
MUNX AMG GW&K Muni Income ETF	1.95%	0.55%

Frequently Asked Questions

Which ETF is better, MUNX or IBMM?

On fees, IBMM is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MUNX or IBMM?

IBMM is cheaper with a 0.18% expense ratio, compared with 0.29% for MUNX.

Which ETF pays a higher dividend yield, MUNX or IBMM?

MUNX has the higher dividend yield at 1.95%, compared with 0.00% for IBMM.

What is the main difference between MUNX and IBMM?

They also come from different issuers: AMG and iShares. Their fees differ too: 0.29% for MUNX and 0.18% for IBMM.