MUSI vs. SCIO

Last updated Aug 4, 2026

MUSI (American Century Multisector Income ETF) and SCIO (First Trust Structured Credit Income Opportunities ETF) are both Multisector Bonds funds. Both are actively managed. Over the past year, MUSI returned 3.47% vs 5.01% for SCIO. Their 0.58 correlation means they have sometimes moved together and sometimes differently. MUSI charges 0.36%/yr vs 0.70%/yr for SCIO.

Performance

MUSI vs. SCIO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Multisector Income ETF (MUSI) and First Trust Structured Credit Income Opportunities ETF (SCIO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUSI achieves a 0.40% return, which is significantly lower than SCIO's 1.92% return.

MUSI

• 1D: 0.24%
• 1M: -0.80%
• 6M: 0.00%
• YTD: 0.40%
• 1Y: 3.47%
• 3Y*: 6.25%
• 5Y*: 2.05%
• 10Y*: —
• ALL TIME*: 2.05%

SCIO

• 1D: 0.20%
• 1M: -0.12%
• 6M: 1.31%
• YTD: 1.92%
• 1Y: 5.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.61%

*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)
MUSI American Century Multisector Income ETF	$1.04M	$924.97K	$903.66K
SCIO First Trust Structured Credit Income Opportunities ETF	$2.53M	$3.39M	$3.78M

MUSI vs. SCIO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUSI American Century Multisector Income ETF	0.40%	8.32%	5.92%
SCIO First Trust Structured Credit Income Opportunities ETF	1.92%	10.17%	6.43%

Correlation

The correlation between MUSI and SCIO is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (All Time) Calculated using the full available price history since Feb 28, 2024	0.58

The correlation between MUSI and SCIO has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.

Return for Risk

MUSI vs. SCIO — Risk / Return Rank

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

MUSI

MUSI Risk / Return Rank: 37
MUSI Sharpe Ratio Rank: 39
MUSI Sortino Ratio Rank: 38
MUSI Omega Ratio Rank: 36
MUSI Calmar Ratio Rank: 35
MUSI Martin Ratio Rank: 38

SCIO

SCIO Risk / Return Rank: 69
SCIO Sharpe Ratio Rank: 61
SCIO Sortino Ratio Rank: 68
SCIO Omega Ratio Rank: 70
SCIO Calmar Ratio Rank: 75
SCIO Martin Ratio Rank: 72

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.

MUSI vs. SCIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Multisector Income ETF (MUSI) and First Trust Structured Credit Income Opportunities ETF (SCIO). 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	SCIO	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.58	-0.56
Sortino ratio: Return per unit of downside risk	1.49	2.45	-0.96
Omega ratio: Gain probability vs. loss probability	1.18	1.33	-0.15
Calmar ratio: Return relative to maximum drawdown	1.25	2.93	-1.68
Martin ratio: Return relative to average drawdown	3.96	9.87	-5.91

MUSI vs. SCIO - Sharpe Ratio Comparison

The current MUSI Sharpe Ratio is 1.02, which is lower than the SCIO Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of MUSI and SCIO, 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

MUSI vs. SCIO - Drawdown Comparison

The maximum MUSI drawdown since its inception was -13.91%, which is greater than SCIO's maximum drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for MUSI and SCIO.

Drawdown Indicators

	MUSI	SCIO	Difference
Max Drawdown Largest peak-to-trough decline	-13.91%	-1.72%	-12.19%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-1.72%	-1.06%
Max Drawdown (3Y) Largest decline over 3 years	-3.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.91%	—	—
Current Drawdown Current decline from peak	-1.34%	-0.41%	-0.93%
Average Drawdown Average peak-to-trough decline	-4.11%	-0.31%	-3.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.51%	+0.37%

Volatility

MUSI vs. SCIO - Volatility Comparison

American Century Multisector Income ETF (MUSI) has a higher volatility of 0.98% compared to First Trust Structured Credit Income Opportunities ETF (SCIO) at 0.66%. This indicates that MUSI's price experiences larger fluctuations and is considered to be riskier than SCIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUSI	SCIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	0.66%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	1.82%	+1.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.41%	3.18%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.85%	3.16%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.81%	3.16%	+1.65%

MUSI vs. SCIO - Expense Ratio Comparison

MUSI has a 0.36% expense ratio, which is lower than SCIO's 0.70% expense ratio.

Dividends

MUSI vs. SCIO - Dividend Comparison

MUSI's dividend yield for the trailing twelve months is around 4.99%, less than SCIO's 5.82% yield.

Position	TTM	2025	2024	2023	2022	2021
MUSI American Century Multisector Income ETF	4.99%	5.74%	6.00%	5.20%	4.02%	1.62%
SCIO First Trust Structured Credit Income Opportunities ETF	5.82%	6.31%	6.02%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MUSI and SCIO in my portfolio?

MUSI and SCIO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUSI or SCIO?

MUSI has higher volatility (0.98%) compared to SCIO (0.66%). In terms of maximum drawdown, MUSI dropped -13.91% vs SCIO's -1.72%.

Which ETF is better, MUSI or SCIO?

On 1-year performance, SCIO leads with 5.01% vs 3.47% for MUSI. On fees, MUSI is cheaper at 0.36% per year. On volatility, SCIO has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUSI or SCIO?

Over the 1-year period, SCIO has performed better with a 5.01% return vs 3.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUSI or SCIO?

MUSI is cheaper with a 0.36% expense ratio, compared with 0.70% for SCIO.

Which ETF pays a higher dividend yield, MUSI or SCIO?

SCIO has the higher dividend yield at 5.82%, compared with 4.99% for MUSI.

What is the main difference between MUSI and SCIO?

They also come from different issuers: American Century and First Trust. Their fees differ too: 0.36% for MUSI and 0.70% for SCIO.

Which has better risk-adjusted returns?

SCIO currently has the higher Sharpe Ratio (1.58 vs 1.02), 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.