NDIV vs. SCMB

Last updated Aug 2, 2026

NDIV (Amplify Natural Resources Dividend Income ETF) and SCMB (Schwab Municipal Bond ETF) are both exchange-traded funds - NDIV is a Energy Equities fund tracking the EQM Natural Resources Dividend Income Index, while SCMB is a Municipal Bonds fund tracking the ICE AMT-Free Core U.S. National Municipal Index. Both are passively managed. Over the past 3 years, NDIV returned 15.74%/yr vs 2.76%/yr for SCMB. Their 0.00 correlation means their historical movements had little consistent relationship. NDIV charges 0.59%/yr vs 0.03%/yr for SCMB.

Performance

NDIV vs. SCMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Natural Resources Dividend Income ETF (NDIV) and Schwab Municipal Bond ETF (SCMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NDIV achieves a 33.67% return, which is significantly higher than SCMB's 0.06% return.

NDIV

• 1D: 1.10%
• 1M: 8.05%
• 6M: 18.09%
• YTD: 33.67%
• 1Y: 33.78%
• 3Y*: 15.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.64%

SCMB

• 1D: 0.00%
• 1M: -1.78%
• 6M: -0.52%
• YTD: 0.06%
• 1Y: 4.38%
• 3Y*: 2.76%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NDIV Amplify Natural Resources Dividend Income ETF	$359.17K	$364.93K	$506.10K
SCMB Schwab Municipal Bond ETF	$37.46M	$30.33M	$30.04M

NDIV vs. SCMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NDIV Amplify Natural Resources Dividend Income ETF	33.67%	2.85%	6.18%	15.52%	9.90%
SCMB Schwab Municipal Bond ETF	0.06%	3.78%	0.91%	5.86%	2.88%

Correlation

The correlation between NDIV and SCMB is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.22
Correlation (3Y) Balances recent behavior with more history.	0.01
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022	0.00

The correlation between NDIV and SCMB shifts across timeframes, from -0.22 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

NDIV vs. SCMB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NDIV

NDIV Risk / Return Rank: 65
NDIV Sharpe Ratio Rank: 69
NDIV Sortino Ratio Rank: 63
NDIV Omega Ratio Rank: 62
NDIV Calmar Ratio Rank: 75
NDIV Martin Ratio Rank: 55

SCMB

SCMB Risk / Return Rank: 67
SCMB Sharpe Ratio Rank: 76
SCMB Sortino Ratio Rank: 77
SCMB Omega Ratio Rank: 83
SCMB Calmar Ratio Rank: 50
SCMB Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NDIV vs. SCMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Natural Resources Dividend Income ETF (NDIV) and Schwab Municipal Bond ETF (SCMB). 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.

	NDIV	SCMB	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.73	-0.17
Sortino ratio: Return per unit of downside risk	2.10	2.46	-0.35
Omega ratio: Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio: Return relative to maximum drawdown	2.63	1.79	+0.85
Martin ratio: Return relative to average drawdown	6.50	5.53	+0.97

NDIV vs. SCMB - Sharpe Ratio Comparison

The current NDIV Sharpe Ratio is 1.56, which is comparable to the SCMB Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of NDIV and SCMB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NDIV vs. SCMB - Drawdown Comparison

The maximum NDIV drawdown since its inception was -19.73%, which is greater than SCMB's maximum drawdown of -6.13%. Use the drawdown chart below to compare losses from any high point for NDIV and SCMB.

Drawdown Indicators

	NDIV	SCMB	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-6.13%	-13.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-2.92%	-8.64%
Max Drawdown (3Y) Largest decline over 3 years	-19.73%	-4.75%	-14.98%
Current Drawdown Current decline from peak	-3.34%	-1.86%	-1.48%
Average Drawdown Average peak-to-trough decline	-4.31%	-1.30%	-3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.69%	0.94%	+3.75%

Volatility

NDIV vs. SCMB - Volatility Comparison

Amplify Natural Resources Dividend Income ETF (NDIV) has a higher volatility of 5.04% compared to Schwab Municipal Bond ETF (SCMB) at 1.02%. This indicates that NDIV's price experiences larger fluctuations and is considered to be riskier than SCMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDIV	SCMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	1.02%	+4.02%
Volatility (6M) Calculated over the trailing 6-month period	13.65%	2.35%	+11.30%
Volatility (1Y) Calculated over the trailing 1-year period	19.52%	3.01%	+16.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.88%	4.12%	+16.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.88%	4.12%	+16.76%

NDIV vs. SCMB - Expense Ratio Comparison

NDIV has a 0.59% expense ratio, which is higher than SCMB's 0.03% expense ratio.

Dividends

NDIV vs. SCMB - Dividend Comparison

NDIV's dividend yield for the trailing twelve months is around 7.68%, more than SCMB's 3.59% yield.

Position	TTM	2025	2024	2023	2022
NDIV Amplify Natural Resources Dividend Income ETF	7.68%	5.64%	5.88%	7.37%	1.69%
SCMB Schwab Municipal Bond ETF	3.26%	3.36%	3.34%	3.10%	0.59%

Frequently Asked Questions

Can I hold both NDIV and SCMB in my portfolio?

NDIV and SCMB have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDIV or SCMB?

NDIV has higher volatility (5.04%) compared to SCMB (1.02%). In terms of maximum drawdown, NDIV dropped -19.73% vs SCMB's -6.13%.

Which ETF is better, NDIV or SCMB?

On 3-year performance, NDIV leads with 15.74% vs 2.76% for SCMB. On fees, SCMB is cheaper at 0.03% per year. On volatility, SCMB has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NDIV or SCMB?

Over the 3-year period, NDIV has performed better with a 15.74% return vs 2.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NDIV or SCMB?

SCMB is cheaper with a 0.03% expense ratio, compared with 0.59% for NDIV.

Which ETF pays a higher dividend yield, NDIV or SCMB?

NDIV has the higher dividend yield at 7.68%, compared with 3.26% for SCMB.

What is the main difference between NDIV and SCMB?

NDIV is categorized as Energy Equities, while SCMB is Municipal Bonds. NDIV tracks EQM Natural Resources Dividend Income Index, while SCMB tracks ICE AMT-Free Core U.S. National Municipal Index. They also come from different issuers: Amplify and Charles Schwab. Their fees differ too: 0.59% for NDIV and 0.03% for SCMB.

Which has better risk-adjusted returns?

SCMB currently has the higher Sharpe Ratio (1.73 vs 1.56), 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.