MUST vs. IQMM
MUST (Columbia Multi-Sector Municipal Income ETF) and IQMM (ProShares GENIUS Money Market ETF) are both Money Market funds. MUST is passively managed, while IQMM is actively managed. At a correlation of -0.24, they often move in opposite directions. MUST charges 0.23%/yr vs 0.15%/yr for IQMM.
Performance
MUST vs. IQMM - Performance Comparison
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Returns By Period
MUST
- 1D
- -0.19%
- 1M
- 2.22%
- YTD
- 1.85%
- 6M
- 1.94%
- 1Y
- 7.02%
- 3Y*
- 3.48%
- 5Y*
- 0.88%
- 10Y*
- —
IQMM
- 1D
- -0.04%
- 1M
- 0.22%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUST vs. IQMM - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MUST Columbia Multi-Sector Municipal Income ETF | -0.52% |
IQMM ProShares GENIUS Money Market ETF | 1.16% |
Correlation
The correlation between MUST and IQMM is -0.24, 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 (All Time) Calculated using the full available price history since Feb 19, 2026 | -0.24 |
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Return for Risk
MUST vs. IQMM — Risk / Return Rank
MUST
IQMM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MUST vs. IQMM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Multi-Sector Municipal Income ETF (MUST) and ProShares GENIUS Money Market ETF (IQMM). 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.
| MUST | IQMM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.27 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | — | — |
| Martin ratioReturn relative to average drawdown | 6.31 | — | — |
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Drawdowns
MUST vs. IQMM - Drawdown Comparison
The maximum MUST drawdown since its inception was -13.83%, which is greater than IQMM's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for MUST and IQMM.
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Drawdown Indicators
| MUST | IQMM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.83% | -0.04% | -13.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.83% | — | — |
Current DrawdownCurrent decline from peak | -0.70% | -0.04% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -0.00% | -3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | — | — |
Volatility
MUST vs. IQMM - Volatility Comparison
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Volatility by Period
| MUST | IQMM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.03% | 0.23% | +4.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.45% | 0.23% | +5.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.58% | 0.23% | +5.35% |
MUST vs. IQMM - Expense Ratio Comparison
MUST has a 0.23% expense ratio, which is higher than IQMM's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MUST vs. IQMM - Dividend Comparison
MUST's dividend yield for the trailing twelve months is around 3.31%, more than IQMM's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IQMM ProShares GENIUS Money Market ETF | 1.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUST Columbia Multi-Sector Municipal Income ETF | 3.31% | 3.28% | 3.13% | 2.51% | 1.76% | 1.62% | 2.33% | 2.70% | 0.55% |
Frequently Asked Questions
MUST and IQMM have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IQMM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IQMM is cheaper with a 0.15% expense ratio, compared with 0.23% for MUST.
MUST has the higher dividend yield at 3.31%, compared with 1.08% for IQMM.
They also come from different issuers: Ameriprise Financial and ProShares. Their fees differ too: 0.23% for MUST and 0.15% for IQMM.
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