NFLT vs. MUSI

Last updated Jun 4, 2026

NFLT (Virtus Newfleet Multi-Sector Bond ETF) and MUSI (American Century Multisector Income ETF) are both Multisector Bonds funds. Both are actively managed. Over the past 3 years, NFLT returned 7.38%/yr vs 6.30%/yr for MUSI. A 0.64 correlation means they provide meaningful diversification when combined. NFLT charges 0.50%/yr vs 0.36%/yr for MUSI.

Performance

NFLT vs. MUSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Newfleet Multi-Sector Bond ETF (NFLT) and American Century Multisector Income ETF (MUSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFLT achieves a 1.50% return, which is significantly higher than MUSI's 0.59% return.

NFLT

• 1D: -0.16%
• 1M: 0.47%
• YTD: 1.50%
• 6M: 1.58%
• 1Y: 7.11%
• 3Y*: 7.38%
• 5Y*: 3.15%
• 10Y*: 4.13%

MUSI

• 1D: -0.20%
• 1M: 0.29%
• YTD: 0.59%
• 6M: 0.68%
• 1Y: 5.99%
• 3Y*: 6.30%
• 5Y*: —
• 10Y*: —

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

NFLT vs. MUSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NFLT Virtus Newfleet Multi-Sector Bond ETF	1.50%	8.77%	6.05%	9.16%	-9.49%	0.40%
MUSI American Century Multisector Income ETF	0.59%	8.32%	5.14%	7.51%	-10.33%	0.58%

Correlation

The correlation between NFLT and MUSI is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021	0.64

The correlation between NFLT and MUSI shifts across timeframes, from 0.53 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

NFLT vs. MUSI - Sectors Allocation Comparison

Sectors	NFLT	MUSI
Utilities	2.7%	77.9%
Financial Services	0.9%	-
Healthcare	0.0%	22.1%
Real Estate	0.0%	-
Technology	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-

Return for Risk

NFLT vs. MUSI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NFLT

NFLT Risk / Return Rank: 57
NFLT Sharpe Ratio Rank: 52
NFLT Sortino Ratio Rank: 53
NFLT Omega Ratio Rank: 52
NFLT Calmar Ratio Rank: 60
NFLT Martin Ratio Rank: 70

MUSI

MUSI Risk / Return Rank: 51
MUSI Sharpe Ratio Rank: 53
MUSI Sortino Ratio Rank: 57
MUSI Omega Ratio Rank: 54
MUSI Calmar Ratio Rank: 44
MUSI Martin Ratio Rank: 47

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NFLT vs. MUSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Multi-Sector Bond ETF (NFLT) and American Century Multisector Income ETF (MUSI). 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.

	NFLT	MUSI	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.80	-0.02
Sortino ratio: Return per unit of downside risk	2.60	2.71	-0.11
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	2.95	2.16	+0.79
Martin ratio: Return relative to average drawdown	13.00	7.76	+5.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NFLT vs. MUSI - Sharpe Ratio Comparison

The current NFLT Sharpe Ratio is 1.78, which is comparable to the MUSI Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of NFLT and MUSI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NFLT	MUSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	1.80	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.45	+0.39

Drawdowns

NFLT vs. MUSI - Drawdown Comparison

The maximum NFLT drawdown since its inception was -15.17%, which is greater than MUSI's maximum drawdown of -13.91%. Use the drawdown chart below to compare losses from any high point for NFLT and MUSI.

Drawdown Indicators

	NFLT	MUSI	Difference
Max Drawdown Largest peak-to-trough decline	-15.17%	-13.91%	-1.26%
Max Drawdown (1Y) Largest decline over 1 year	-2.42%	-2.78%	+0.36%
Max Drawdown (3Y) Largest decline over 3 years	-3.24%	-4.16%	+0.92%
Max Drawdown (5Y) Largest decline over 5 years	-13.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.17%	—	—
Current Drawdown Current decline from peak	-0.33%	-1.14%	+0.81%
Average Drawdown Average peak-to-trough decline	-2.10%	-4.22%	+2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	0.77%	-0.22%

Volatility

NFLT vs. MUSI - Volatility Comparison

Virtus Newfleet Multi-Sector Bond ETF (NFLT) and American Century Multisector Income ETF (MUSI) have volatilities of 1.19% and 1.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFLT	MUSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	1.24%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	2.60%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	4.01%	3.34%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.43%	4.85%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.93%	4.85%	+0.08%

NFLT vs. MUSI - Expense Ratio Comparison

NFLT has a 0.50% expense ratio, which is higher than MUSI's 0.36% expense ratio.

Dividends

NFLT vs. MUSI - Dividend Comparison

NFLT's dividend yield for the trailing twelve months is around 5.50%, more than MUSI's 5.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MUSI American Century Multisector Income ETF	5.15%	5.74%	6.00%	5.20%	4.02%	1.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NFLT Virtus Newfleet Multi-Sector Bond ETF	5.50%	5.74%	5.76%	6.02%	4.16%	3.41%	3.63%	4.33%	4.81%	6.23%	5.30%	0.67%

Frequently Asked Questions

Can I hold both NFLT and MUSI in my portfolio?

NFLT and MUSI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFLT or MUSI?

MUSI has higher volatility (1.24%) compared to NFLT (1.19%). In terms of maximum drawdown, NFLT dropped -15.17% vs MUSI's -13.91%.

Which ETF is better, NFLT or MUSI?

On 3-year performance, NFLT leads with 7.38% vs 6.30% for MUSI. On fees, MUSI is cheaper at 0.36% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFLT or MUSI?

Over the 3-year period, NFLT has performed better with a 7.38% return vs 6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFLT or MUSI?

MUSI is cheaper with a 0.36% expense ratio, compared with 0.50% for NFLT.

Which ETF pays a higher dividend yield, NFLT or MUSI?

NFLT has the higher dividend yield at 5.50%, compared with 5.15% for MUSI.

What is the main difference between NFLT and MUSI?

They also come from different issuers: Virtus and American Century. Their fees differ too: 0.50% for NFLT and 0.36% for MUSI.

Which has better risk-adjusted returns?

MUSI currently has the higher Sharpe Ratio (1.80 vs 1.78), 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.