MUST vs. REVS
MUST (Columbia Multi-Sector Municipal Income ETF) and REVS (Columbia Research Enhanced Value ETF) are both exchange-traded funds - MUST is a Money Market fund tracking the Bloomberg Beta Advantage Multi-Sector Municipal Bond Index, while REVS is a Large Cap Value Equities fund tracking the Beta Advantage Research Enhanced U.S. Value Index. Both are passively managed. Over the past 5 years, MUST returned 0.68%/yr vs 12.24%/yr for REVS. At a 0.09 correlation, their price movements are largely independent. MUST charges 0.23%/yr vs 0.19%/yr for REVS.
Performance
MUST vs. REVS - Performance Comparison
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Returns By Period
In the year-to-date period, MUST achieves a 1.58% return, which is significantly lower than REVS's 15.41% return.
MUST
- 1D
- -0.19%
- 1M
- 0.37%
- 6M
- 0.22%
- YTD
- 1.58%
- 1Y
- 5.82%
- 3Y*
- 3.37%
- 5Y*
- 0.68%
- 10Y*
- —
REVS
- 1D
- 0.59%
- 1M
- 2.13%
- 6M
- 12.25%
- YTD
- 15.41%
- 1Y
- 25.42%
- 3Y*
- 18.18%
- 5Y*
- 12.24%
- 10Y*
- —
MUST vs. REVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MUST Columbia Multi-Sector Municipal Income ETF | 1.58% | 4.92% | 0.37% | 6.23% | -8.82% | 1.93% | 6.67% | 0.40% |
REVS Columbia Research Enhanced Value ETF | 15.41% | 16.80% | 16.36% | 13.46% | -6.20% | 28.52% | 1.37% | 7.27% |
Correlation
The correlation between MUST and REVS is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2019 | 0.09 |
The correlation between MUST and REVS shifts across timeframes, from 0.09 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MUST vs. REVS — Risk / Return Rank
MUST
REVS
MUST vs. REVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Multi-Sector Municipal Income ETF (MUST) and Columbia Research Enhanced Value ETF (REVS). 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 | REVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.38 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 3.68 | -1.74 |
| Martin ratioReturn relative to average drawdown | 5.25 | 13.37 | -8.12 |
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Drawdowns
MUST vs. REVS - Drawdown Comparison
The maximum MUST drawdown since its inception was -13.83%, smaller than the maximum REVS drawdown of -37.85%. Use the drawdown chart below to compare losses from any high point for MUST and REVS.
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Drawdown Indicators
| MUST | REVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.83% | -37.85% | +24.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -6.94% | +3.93% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -16.37% | +10.29% |
Max Drawdown (5Y)Largest decline over 5 years | -13.83% | -18.04% | +4.21% |
Current DrawdownCurrent decline from peak | -0.96% | 0.00% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -4.60% | +1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 1.91% | -0.79% |
Volatility
MUST vs. REVS - Volatility Comparison
The current volatility for Columbia Multi-Sector Municipal Income ETF (MUST) is 1.42%, while Columbia Research Enhanced Value ETF (REVS) has a volatility of 3.19%. This indicates that MUST experiences smaller price fluctuations and is considered to be less risky than REVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUST | REVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 3.19% | -1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 3.72% | 8.43% | -4.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.03% | 11.56% | -6.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.46% | 14.87% | -9.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.58% | 19.03% | -13.45% |
MUST vs. REVS - Expense Ratio Comparison
MUST has a 0.23% expense ratio, which is higher than REVS's 0.19% 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. REVS - Dividend Comparison
MUST's dividend yield for the trailing twelve months is around 3.34%, more than REVS's 1.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MUST Columbia Multi-Sector Municipal Income ETF | 3.34% | 3.28% | 3.13% | 2.51% | 1.76% | 1.62% | 2.33% | 2.70% | 0.55% |
REVS Columbia Research Enhanced Value ETF | 1.84% | 2.13% | 1.89% | 2.49% | 2.46% | 1.18% | 27.75% | 0.70% | 0.00% |
Frequently Asked Questions
MUST and REVS have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REVS has higher volatility (3.19%) compared to MUST (1.42%). In terms of maximum drawdown, MUST dropped -13.83% vs REVS's -37.85%.
On 5-year performance, REVS leads with 12.24% vs 0.68% for MUST. On fees, REVS is cheaper at 0.19% per year. On volatility, MUST has been the lower-risk option at 1.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, REVS has performed better with a 12.24% return vs 0.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REVS is cheaper with a 0.19% expense ratio, compared with 0.23% for MUST.
MUST has the higher dividend yield at 3.34%, compared with 1.84% for REVS.
MUST is categorized as Money Market, while REVS is Large Cap Value Equities. MUST tracks Bloomberg Beta Advantage Multi-Sector Municipal Bond Index, while REVS tracks Beta Advantage Research Enhanced U.S. Value Index. Their fees differ too: 0.23% for MUST and 0.19% for REVS.
REVS currently has the higher Sharpe Ratio (2.21 vs 1.16), 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.
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