MUST vs. ITM
Compare and contrast key facts about Columbia Multi-Sector Municipal Income ETF (MUST) and VanEck Intermediate Muni ETF (ITM).
MUST and ITM 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. ITM is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Intermediate Continuous. It was launched on Dec 4, 2007. Both MUST and ITM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MUST or ITM.
Key characteristics
| MUST | ITM | |
|---|---|---|
| YTD Return | 0.99% | 0.50% |
| 1Y Return | 7.43% | 6.93% |
| 3Y Return (Ann) | -0.48% | -1.17% |
| 5Y Return (Ann) | 1.46% | 0.69% |
| Sharpe Ratio | 1.46 | 1.58 |
| Sortino Ratio | 2.14 | 2.31 |
| Omega Ratio | 1.27 | 1.30 |
| Calmar Ratio | 0.78 | 0.60 |
| Martin Ratio | 7.58 | 5.58 |
| Ulcer Index | 0.98% | 1.16% |
| Daily Std Dev | 5.08% | 4.09% |
| Max Drawdown | -13.83% | -24.75% |
| Current Drawdown | -2.82% | -4.70% |
Correlation
The correlation between MUST and ITM is 0.51, 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. ITM - Performance Comparison
In the year-to-date period, MUST achieves a 0.99% return, which is significantly higher than ITM's 0.50% 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. ITM - Expense Ratio Comparison
MUST has a 0.23% expense ratio, which is lower than ITM's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
MUST vs. ITM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Multi-Sector Municipal Income ETF (MUST) and VanEck Intermediate Muni ETF (ITM). 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. ITM - Dividend Comparison
MUST's dividend yield for the trailing twelve months is around 3.03%, more than ITM's 2.68% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUST Columbia Multi-Sector Municipal Income ETF | 3.03% | 2.51% | 1.76% | 1.61% | 2.34% | 2.69% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ITM VanEck Intermediate Muni ETF | 2.68% | 2.39% | 1.92% | 1.70% | 2.13% | 2.32% | 2.34% | 2.21% | 2.29% | 2.27% | 2.43% | 2.63% |
Drawdowns
MUST vs. ITM - Drawdown Comparison
The maximum MUST drawdown since its inception was -13.83%, smaller than the maximum ITM drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for MUST and ITM. For additional features, visit the drawdowns tool.
Volatility
MUST vs. ITM - Volatility Comparison
Columbia Multi-Sector Municipal Income ETF (MUST) has a higher volatility of 2.14% compared to VanEck Intermediate Muni ETF (ITM) at 1.94%. This indicates that MUST's price experiences larger fluctuations and is considered to be riskier than ITM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.