MUST vs. MMK
MUST (Columbia Multi-Sector Municipal Income ETF) and MMK (State Street Prime Money Market ETF) are both Money Market funds. MUST is passively managed, while MMK is actively managed. Their -0.14 correlation means they have often moved in opposite directions in the past. MUST charges 0.23%/yr vs 0.18%/yr for MMK.
Performance
MUST vs. MMK - Performance Comparison
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Returns By Period
MUST
- 1D
- 0.30%
- 1M
- -1.98%
- 6M
- -1.19%
- YTD
- 0.25%
- 1Y
- 4.44%
- 3Y*
- 2.94%
- 5Y*
- 0.35%
- 10Y*
- —
- ALL TIME*
- 2.77%
MMK
- 1D
- 0.04%
- 1M
- 0.29%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $172.00K | $210.46K | $196.21K | |
| $2.71M | $2.64M | $2.36M |
MUST vs. MMK - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MUST Columbia Multi-Sector Municipal Income ETF | -1.56% |
MMK State Street Prime Money Market ETF | 1.70% |
Correlation
The correlation between MUST and MMK is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 12, 2026 | -0.14 |
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Return for Risk
MUST vs. MMK — Risk / Return Rank
MUST
MMK
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MUST vs. MMK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Multi-Sector Municipal Income ETF (MUST) and State Street Prime Money Market ETF (MMK). 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 | MMK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | — | — |
| Martin ratioReturn relative to average drawdown | 4.25 | — | — |
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Drawdowns
MUST vs. MMK - Drawdown Comparison
The maximum MUST drawdown since its inception was -13.83%, which is greater than MMK's maximum drawdown of -0.01%. Use the drawdown chart below to compare losses from any high point for MUST and MMK.
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Drawdown Indicators
| MUST | MMK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.83% | -0.01% | -13.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.75% | — | — |
Current DrawdownCurrent decline from peak | -2.26% | 0.00% | -2.26% |
Average DrawdownAverage peak-to-trough decline | -3.36% | 0.00% | -3.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | — | — |
Volatility
MUST vs. MMK - Volatility Comparison
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Volatility by Period
| MUST | MMK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.13% | 0.18% | +4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.50% | 0.18% | +5.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.59% | 0.18% | +5.41% |
MUST vs. MMK - Expense Ratio Comparison
MUST has a 0.23% expense ratio, which is higher than MMK's 0.18% 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. MMK - Dividend Comparison
MUST's dividend yield for the trailing twelve months is around 3.39%, more than MMK's 1.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MMK State Street Prime Money Market ETF | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUST Columbia Multi-Sector Municipal Income ETF | 3.10% | 3.28% | 3.13% | 2.51% | 1.76% | 1.62% | 2.33% | 2.70% | 0.55% |
Frequently Asked Questions
MUST and MMK have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MMK is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MMK is cheaper with a 0.18% expense ratio, compared with 0.23% for MUST.
MUST has the higher dividend yield at 3.10%, compared with 1.37% for MMK.
They also come from different issuers: Ameriprise Financial and State Street. Their fees differ too: 0.23% for MUST and 0.18% for MMK.
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