MUSI vs. MDIV
MUSI (American Century Multisector Income ETF) and MDIV (First Trust Multi-Asset Diversified Income Index Fund) are both exchange-traded funds - MUSI is a Multisector Bonds fund actively managed by American Century, while MDIV is a Diversified Portfolio fund tracking the NASDAQ US Multi-Asset Diversified Income Index. MUSI is actively managed, while MDIV is passively managed. Over the past 5 years, MUSI returned 1.98%/yr vs 6.69%/yr for MDIV. Their 0.37 correlation means their historical movements had little consistent relationship. MUSI charges 0.36%/yr vs 0.73%/yr for MDIV.
Performance
MUSI vs. MDIV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MUSI achieves a 0.15% return, which is significantly lower than MDIV's 11.49% return.
MUSI
- 1D
- -0.24%
- 1M
- -1.04%
- 6M
- -0.23%
- YTD
- 0.15%
- 1Y
- 3.21%
- 3Y*
- 6.21%
- 5Y*
- 1.98%
- 10Y*
- —
- ALL TIME*
- 2.01%
MDIV
- 1D
- -0.03%
- 1M
- 1.64%
- 6M
- 7.60%
- YTD
- 11.49%
- 1Y
- 13.64%
- 3Y*
- 10.52%
- 5Y*
- 6.69%
- 10Y*
- 4.88%
- ALL TIME*
- 4.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $767.59K | $991.13K | $1.00M | |
| $1.00M | $912.07K | $885.15K |
MUSI vs. MDIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MUSI American Century Multisector Income ETF | 0.15% | 8.32% | 5.14% | 7.51% | -10.33% | 0.60% |
MDIV First Trust Multi-Asset Diversified Income Index Fund | 11.49% | 3.77% | 10.05% | 11.50% | -3.86% | 0.67% |
Correlation
The correlation between MUSI and MDIV is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | 0.37 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MUSI vs. MDIV — Risk / Return Rank
MUSI
MDIV
MUSI vs. MDIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Multisector Income ETF (MUSI) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). 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.
| MUSI | MDIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 3.90 | -2.55 |
| Martin ratioReturn relative to average drawdown | 4.31 | 10.94 | -6.63 |
Loading charts...
Drawdowns
MUSI vs. MDIV - Drawdown Comparison
The maximum MUSI drawdown since its inception was -13.91%, smaller than the maximum MDIV drawdown of -48.50%. Use the drawdown chart below to compare losses from any high point for MUSI and MDIV.
Loading charts...
Drawdown Indicators
| MUSI | MDIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.91% | -48.50% | +34.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -3.39% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -3.59% | -9.62% | +6.03% |
Max Drawdown (5Y)Largest decline over 5 years | -13.91% | -13.02% | -0.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.50% | — |
Current DrawdownCurrent decline from peak | -1.58% | -0.52% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -4.54% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 1.21% | -0.34% |
Volatility
MUSI vs. MDIV - Volatility Comparison
The current volatility for American Century Multisector Income ETF (MUSI) is 0.96%, while First Trust Multi-Asset Diversified Income Index Fund (MDIV) has a volatility of 2.00%. This indicates that MUSI experiences smaller price fluctuations and is considered to be less risky than MDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MUSI | MDIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 2.00% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.84% | 4.64% | -1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 6.66% | -3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 10.87% | -6.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.81% | 15.20% | -10.39% |
MUSI vs. MDIV - Expense Ratio Comparison
MUSI has a 0.36% expense ratio, which is lower than MDIV's 0.73% expense ratio.
Dividends
MUSI vs. MDIV - Dividend Comparison
MUSI's dividend yield for the trailing twelve months is around 5.48%, less than MDIV's 6.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDIV First Trust Multi-Asset Diversified Income Index Fund | 6.74% | 6.51% | 6.40% | 6.08% | 6.71% | 5.30% | 6.00% | 5.90% | 6.76% | 6.04% | 6.35% | 7.38% |
MUSI American Century Multisector Income ETF | 5.00% | 5.74% | 6.00% | 5.20% | 4.02% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MUSI and MDIV have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MDIV has higher volatility (2.00%) compared to MUSI (0.96%). In terms of maximum drawdown, MUSI dropped -13.91% vs MDIV's -48.50%.
On 5-year performance, MDIV leads with 6.69% vs 1.98% for MUSI. On fees, MUSI is cheaper at 0.36% per year. On volatility, MUSI has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MDIV has performed better with a 6.69% return vs 1.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUSI is cheaper with a 0.36% expense ratio, compared with 0.73% for MDIV.
MDIV has the higher dividend yield at 6.74%, compared with 5.00% for MUSI.
MUSI is categorized as Multisector Bonds, while MDIV is Diversified Portfolio. They also come from different issuers: American Century and First Trust. Their fees differ too: 0.36% for MUSI and 0.73% for MDIV.
MDIV currently has the higher Sharpe Ratio (2.00 vs 1.10), 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.
Find the right allocation for MUSI and MDIV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer