MUSE vs. VOTE

Last updated Aug 4, 2026

MUSE (TCW Multisector Credit Income ETF) and VOTE (TCW Transform 500 ETF) are both exchange-traded funds - MUSE is a Multisector Bonds fund actively managed by TCW, while VOTE is a Large Cap Blend Equities fund tracking the Morningstar US Large Cap Index. MUSE is actively managed, while VOTE is passively managed. Over the past year, MUSE returned 6.18% vs 23.13% for VOTE. Their 0.47 correlation means their historical movements had little consistent relationship. MUSE charges 0.56%/yr vs 0.05%/yr for VOTE.

Performance

MUSE vs. VOTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Multisector Credit Income ETF (MUSE) and TCW Transform 500 ETF (VOTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUSE achieves a 2.72% return, which is significantly lower than VOTE's 11.82% return.

MUSE

• 1D: 0.24%
• 1M: 0.02%
• 6M: 1.14%
• YTD: 2.72%
• 1Y: 6.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.63%

VOTE

• 1D: 1.62%
• 1M: 1.57%
• 6M: 9.83%
• YTD: 11.82%
• 1Y: 23.13%
• 3Y*: 21.15%
• 5Y*: 12.73%
• 10Y*: —
• ALL TIME*: 13.27%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MUSE TCW Multisector Credit Income ETF	$5.04K	$2.86K	$16.87K
VOTE TCW Transform 500 ETF	$1.89M	$1.67M	$2.43M

MUSE vs. VOTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUSE TCW Multisector Credit Income ETF	2.72%	8.25%	0.34%
VOTE TCW Transform 500 ETF	11.82%	17.95%	0.39%

Correlation

The correlation between MUSE and VOTE is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	0.47

Return for Risk

MUSE vs. VOTE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MUSE

MUSE Risk / Return Rank: 81
MUSE Sharpe Ratio Rank: 87
MUSE Sortino Ratio Rank: 91
MUSE Omega Ratio Rank: 93
MUSE Calmar Ratio Rank: 65
MUSE Martin Ratio Rank: 69

VOTE

VOTE Risk / Return Rank: 75
VOTE Sharpe Ratio Rank: 75
VOTE Sortino Ratio Rank: 74
VOTE Omega Ratio Rank: 73
VOTE Calmar Ratio Rank: 71
VOTE Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MUSE vs. VOTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Multisector Credit Income ETF (MUSE) and TCW Transform 500 ETF (VOTE). 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	VOTE	Difference
Sharpe ratio: Return per unit of total volatility	2.20	1.78	+0.42
Sortino ratio: Return per unit of downside risk	3.47	2.46	+1.02
Omega ratio: Gain probability vs. loss probability	1.49	1.31	+0.17
Calmar ratio: Return relative to maximum drawdown	2.44	2.55	-0.11
Martin ratio: Return relative to average drawdown	9.01	10.80	-1.79

MUSE vs. VOTE - Sharpe Ratio Comparison

The current MUSE Sharpe Ratio is 2.20, which is comparable to the VOTE Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of MUSE and VOTE, 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. VOTE - Drawdown Comparison

The maximum MUSE drawdown since its inception was -3.63%, smaller than the maximum VOTE drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for MUSE and VOTE.

Drawdown Indicators

	MUSE	VOTE	Difference
Max Drawdown Largest peak-to-trough decline	-3.63%	-25.71%	+22.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-9.10%	+6.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.71%	—
Current Drawdown Current decline from peak	-0.19%	0.00%	-0.19%
Average Drawdown Average peak-to-trough decline	-0.40%	-6.00%	+5.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	2.15%	-1.46%

Volatility

MUSE vs. VOTE - Volatility Comparison

The current volatility for TCW Multisector Credit Income ETF (MUSE) is 0.54%, while TCW Transform 500 ETF (VOTE) has a volatility of 3.93%. This indicates that MUSE experiences smaller price fluctuations and is considered to be less risky than VOTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUSE	VOTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	3.93%	-3.39%
Volatility (6M) Calculated over the trailing 6-month period	2.46%	10.39%	-7.93%
Volatility (1Y) Calculated over the trailing 1-year period	2.82%	13.11%	-10.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	17.22%	-13.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.73%	17.09%	-13.36%

MUSE vs. VOTE - Expense Ratio Comparison

MUSE has a 0.56% expense ratio, which is higher than VOTE's 0.05% expense ratio.

Dividends

MUSE vs. VOTE - Dividend Comparison

MUSE's dividend yield for the trailing twelve months is around 7.83%, more than VOTE's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021
MUSE TCW Multisector Credit Income ETF	7.83%	7.35%	0.75%	0.00%	0.00%	0.00%
VOTE TCW Transform 500 ETF	0.93%	1.03%	1.18%	1.33%	1.54%	0.54%

Frequently Asked Questions

Can I hold both MUSE and VOTE in my portfolio?

MUSE and VOTE have a correlation of 0.45, 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 VOTE?

VOTE has higher volatility (3.93%) compared to MUSE (0.54%). In terms of maximum drawdown, MUSE dropped -3.63% vs VOTE's -25.71%.

Which ETF is better, MUSE or VOTE?

On 1-year performance, VOTE leads with 23.13% vs 6.18% for MUSE. On fees, VOTE is cheaper at 0.05% per year. On volatility, MUSE has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUSE or VOTE?

Over the 1-year period, VOTE has performed better with a 23.13% return vs 6.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUSE or VOTE?

VOTE is cheaper with a 0.05% expense ratio, compared with 0.56% for MUSE.

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

MUSE has the higher dividend yield at 7.83%, compared with 0.93% for VOTE.

What is the main difference between MUSE and VOTE?

MUSE is categorized as Multisector Bonds, while VOTE is Large Cap Blend Equities. Their fees differ too: 0.56% for MUSE and 0.05% for VOTE.

Which has better risk-adjusted returns?

MUSE currently has the higher Sharpe Ratio (2.20 vs 1.78), 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.