MUST vs. IMSI
Compare and contrast key facts about Columbia Multi-Sector Municipal Income ETF (MUST) and Invesco Municipal Strategic Income ETF (IMSI).
MUST and IMSI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MUST is a passively managed fund by Ameriprise Financial that tracks the performance of the Bloomberg Beta Advantage Multi-Sector Municipal Bond Index. It was launched on Oct 10, 2018. IMSI is an actively managed fund by Invesco. It was launched on Dec 5, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MUST or IMSI.
Key characteristics
| MUST | IMSI | |
|---|---|---|
| YTD Return | 0.99% | 4.59% |
| 1Y Return | 7.43% | 10.13% |
| Sharpe Ratio | 1.46 | 3.14 |
| Sortino Ratio | 2.14 | 4.81 |
| Omega Ratio | 1.27 | 1.67 |
| Calmar Ratio | 0.78 | 3.72 |
| Martin Ratio | 7.58 | 23.38 |
| Ulcer Index | 0.98% | 0.43% |
| Daily Std Dev | 5.08% | 3.17% |
| Max Drawdown | -13.83% | -4.79% |
| Current Drawdown | -2.82% | -0.57% |
Correlation
The correlation between MUST and IMSI is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
MUST vs. IMSI - Performance Comparison
In the year-to-date period, MUST achieves a 0.99% return, which is significantly lower than IMSI's 4.59% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MUST vs. IMSI - Expense Ratio Comparison
MUST has a 0.23% expense ratio, which is lower than IMSI's 0.39% expense ratio.
Risk-Adjusted Performance
MUST vs. IMSI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Multi-Sector Municipal Income ETF (MUST) and Invesco Municipal Strategic Income ETF (IMSI). 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.
Dividends
MUST vs. IMSI - Dividend Comparison
MUST's dividend yield for the trailing twelve months is around 3.03%, less than IMSI's 4.05% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
MUST Columbia Multi-Sector Municipal Income ETF | 3.03% | 2.51% | 1.76% | 1.61% | 2.34% | 2.69% | 0.55% |
IMSI Invesco Municipal Strategic Income ETF | 4.05% | 4.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
MUST vs. IMSI - Drawdown Comparison
The maximum MUST drawdown since its inception was -13.83%, which is greater than IMSI's maximum drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for MUST and IMSI. For additional features, visit the drawdowns tool.
Volatility
MUST vs. IMSI - Volatility Comparison
Columbia Multi-Sector Municipal Income ETF (MUST) has a higher volatility of 2.14% compared to Invesco Municipal Strategic Income ETF (IMSI) at 1.42%. This indicates that MUST's price experiences larger fluctuations and is considered to be riskier than IMSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.