MUSE vs. DIAL

Last updated Apr 16, 2026

MUSE (TCW Multisector Credit Income ETF) and DIAL (Columbia Diversified Fixed Income Allocation ETF) are both Multisector Bonds funds. MUSE is actively managed, while DIAL is passively managed. Over the past year, MUSE returned 9.59% vs 9.01% for DIAL. A 0.52 correlation means they provide meaningful diversification when combined. MUSE charges 0.56%/yr vs 0.29%/yr for DIAL.

Performance

MUSE vs. DIAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Multisector Credit Income ETF (MUSE) and Columbia Diversified Fixed Income Allocation ETF (DIAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MUSE having a 1.09% return and DIAL slightly higher at 1.10%.

MUSE

• 1D: 0.05%
• 1M: 1.66%
• YTD: 1.09%
• 6M: 2.50%
• 1Y: 9.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DIAL

• 1D: 0.05%
• 1M: 1.31%
• YTD: 1.10%
• 6M: 1.77%
• 1Y: 9.01%
• 3Y*: 5.68%
• 5Y*: 0.86%
• 10Y*: —

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

MUSE vs. DIAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUSE TCW Multisector Credit Income ETF	1.09%	8.25%	0.34%
DIAL Columbia Diversified Fixed Income Allocation ETF	1.10%	9.93%	-0.60%

Correlation

The correlation between MUSE and DIAL is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Nov 19, 2024	0.52

The correlation between MUSE and DIAL has been stable across timeframes, ranging from 0.47 to 0.52 — a consistent structural relationship.

Return for Risk

MUSE vs. DIAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MUSE

MUSE Risk / Return Rank: 83
MUSE Sharpe Ratio Rank: 81
MUSE Sortino Ratio Rank: 87
MUSE Omega Ratio Rank: 94
MUSE Calmar Ratio Rank: 78
MUSE Martin Ratio Rank: 76

DIAL

DIAL Risk / Return Rank: 60
DIAL Sharpe Ratio Rank: 62
DIAL Sortino Ratio Rank: 70
DIAL Omega Ratio Rank: 66
DIAL Calmar Ratio Rank: 44
DIAL Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MUSE vs. DIAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Multisector Credit Income ETF (MUSE) and Columbia Diversified Fixed Income Allocation ETF (DIAL). 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.

	MUSE	DIAL	Difference
Sharpe ratio Return per unit of total volatility	2.77	2.30	+0.47
Sortino ratio Return per unit of downside risk	4.21	3.43	+0.77
Omega ratio Gain probability vs. loss probability	1.70	1.43	+0.27
Calmar ratio Return relative to maximum drawdown	4.46	2.97	+1.49
Martin ratio Return relative to average drawdown	16.32	13.14	+3.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUSE vs. DIAL - Sharpe Ratio Comparison

The current MUSE Sharpe Ratio is 2.77, which is comparable to the DIAL Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of MUSE and DIAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MUSE	DIAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	2.30	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.75	0.36	+1.39

Drawdowns

MUSE vs. DIAL - Drawdown Comparison

The maximum MUSE drawdown since its inception was -3.63%, smaller than the maximum DIAL drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for MUSE and DIAL.

Drawdown Indicators

	MUSE	DIAL	Difference
Max Drawdown Largest peak-to-trough decline	-3.63%	-22.19%	+18.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-3.34%	+0.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.19%	—
Current Drawdown Current decline from peak	-0.46%	-0.67%	+0.21%
Average Drawdown Average peak-to-trough decline	-0.44%	-5.61%	+5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	0.76%	-0.07%

Volatility

MUSE vs. DIAL - Volatility Comparison

The current volatility for TCW Multisector Credit Income ETF (MUSE) is 1.43%, while Columbia Diversified Fixed Income Allocation ETF (DIAL) has a volatility of 1.94%. This indicates that MUSE experiences smaller price fluctuations and is considered to be less risky than DIAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUSE	DIAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	1.94%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	2.32%	2.82%	-0.50%
Volatility (1Y) Calculated over the trailing 1-year period	3.50%	3.96%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.98%	7.00%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.98%	7.06%	-3.08%

MUSE vs. DIAL - Expense Ratio Comparison

MUSE has a 0.56% expense ratio, which is higher than DIAL's 0.29% expense ratio.

Dividends

MUSE vs. DIAL - Dividend Comparison

MUSE's dividend yield for the trailing twelve months is around 7.60%, more than DIAL's 4.80% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MUSE TCW Multisector Credit Income ETF	7.60%	7.35%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIAL Columbia Diversified Fixed Income Allocation ETF	4.80%	4.81%	4.67%	3.77%	3.47%	2.46%	2.61%	3.27%	3.56%	0.65%