MUSE vs. EINC

Last updated Jun 23, 2026

MUSE (TCW Multisector Credit Income ETF) and EINC (VanEck Energy Income ETF) are both exchange-traded funds - MUSE is a Multisector Bonds fund actively managed by TCW, while EINC is a Energy Equities fund tracking the MVIS North America Energy Infrastructure Index. MUSE is actively managed, while EINC is passively managed. Over the past year, MUSE returned 7.80% vs 27.21% for EINC. At a 0.05 correlation, their price movements are largely independent. MUSE charges 0.56%/yr vs 0.45%/yr for EINC.

Performance

MUSE vs. EINC - Performance Comparison

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

Returns By Period

In the year-to-date period, MUSE achieves a 2.68% return, which is significantly lower than EINC's 24.27% return.

MUSE

• 1D: -0.14%
• 1M: 0.98%
• YTD: 2.68%
• 6M: 3.06%
• 1Y: 7.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EINC

• 1D: 1.33%
• 1M: -5.79%
• YTD: 24.27%
• 6M: 25.77%
• 1Y: 27.21%
• 3Y*: 29.77%
• 5Y*: 20.86%
• 10Y*: 11.88%

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

MUSE vs. EINC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUSE TCW Multisector Credit Income ETF	2.68%	8.25%	0.34%
EINC VanEck Energy Income ETF	24.27%	7.11%	-1.46%

Correlation

The correlation between MUSE and EINC is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	0.05

The correlation between MUSE and EINC shifts across timeframes, from -0.13 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MUSE vs. EINC — Risk / Return Rank

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

MUSE

MUSE Risk / Return Rank: 80
MUSE Sharpe Ratio Rank: 87
MUSE Sortino Ratio Rank: 93
MUSE Omega Ratio Rank: 93
MUSE Calmar Ratio Rank: 64
MUSE Martin Ratio Rank: 65

EINC

EINC Risk / Return Rank: 57
EINC Sharpe Ratio Rank: 55
EINC Sortino Ratio Rank: 52
EINC Omega Ratio Rank: 52
EINC Calmar Ratio Rank: 71
EINC Martin Ratio Rank: 53

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. EINC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Multisector Credit Income ETF (MUSE) and VanEck Energy Income ETF (EINC). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MUSE	EINC	Difference
Sharpe ratio: Return per unit of total volatility	2.73	1.82	+0.92
Sortino ratio: Return per unit of downside risk	4.37	2.47	+1.91
Omega ratio: Gain probability vs. loss probability	1.62	1.32	+0.30
Calmar ratio: Return relative to maximum drawdown	3.09	3.47	-0.38
Martin ratio: Return relative to average drawdown	11.45	8.82	+2.63

MUSE vs. EINC - Sharpe Ratio Comparison

The current MUSE Sharpe Ratio is 2.73, which is higher than the EINC Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of MUSE and EINC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MUSE vs. EINC - Drawdown Comparison

The maximum MUSE drawdown since its inception was -3.63%, smaller than the maximum EINC drawdown of -87.55%. Use the drawdown chart below to compare losses from any high point for MUSE and EINC.

Drawdown Indicators

	MUSE	EINC	Difference
Max Drawdown Largest peak-to-trough decline	-3.63%	-87.55%	+83.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-7.89%	+5.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-68.85%	—
Current Drawdown Current decline from peak	-0.14%	-5.79%	+5.65%
Average Drawdown Average peak-to-trough decline	-0.41%	-44.16%	+43.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	3.09%	-2.41%

Volatility

MUSE vs. EINC - Volatility Comparison

The current volatility for TCW Multisector Credit Income ETF (MUSE) is 0.73%, while VanEck Energy Income ETF (EINC) has a volatility of 6.32%. This indicates that MUSE experiences smaller price fluctuations and is considered to be less risky than EINC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUSE	EINC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	6.32%	-5.59%
Volatility (6M) Calculated over the trailing 6-month period	2.46%	11.86%	-9.40%
Volatility (1Y) Calculated over the trailing 1-year period	2.87%	15.07%	-12.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.84%	19.54%	-15.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.84%	25.43%	-21.59%

MUSE vs. EINC - Expense Ratio Comparison

MUSE has a 0.56% expense ratio, which is higher than EINC's 0.45% expense ratio.

Dividends

MUSE vs. EINC - Dividend Comparison

MUSE's dividend yield for the trailing twelve months is around 7.67%, more than EINC's 3.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EINC VanEck Energy Income ETF	3.56%	4.51%	3.33%	3.77%	2.89%	6.03%	6.69%	9.66%	11.31%	8.53%	9.71%	28.53%
MUSE TCW Multisector Credit Income ETF	7.67%	7.35%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MUSE and EINC in my portfolio?

MUSE and EINC have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUSE or EINC?

EINC has higher volatility (6.32%) compared to MUSE (0.73%). In terms of maximum drawdown, MUSE dropped -3.63% vs EINC's -87.55%.

Which ETF is better, MUSE or EINC?

On 1-year performance, EINC leads with 27.21% vs 7.80% for MUSE. On fees, EINC is cheaper at 0.45% per year. On volatility, MUSE has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUSE or EINC?

Over the 1-year period, EINC has performed better with a 27.21% return vs 7.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUSE or EINC?

EINC is cheaper with a 0.45% expense ratio, compared with 0.56% for MUSE.

Which ETF pays a higher dividend yield, MUSE or EINC?

MUSE has the higher dividend yield at 7.67%, compared with 3.56% for EINC.

What is the main difference between MUSE and EINC?

MUSE is categorized as Multisector Bonds, while EINC is Energy Equities. They also come from different issuers: TCW and VanEck. Their fees differ too: 0.56% for MUSE and 0.45% for EINC.

Which has better risk-adjusted returns?

MUSE currently has the higher Sharpe Ratio (2.73 vs 1.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.