OEFA vs. MNBD

Last updated Jun 24, 2026

OEFA (ALPS O'Shares International Developed Quality Dividend ETF) and MNBD (ALPS Intermediate Municipal Bond ETF) are both exchange-traded funds - OEFA is a International Equity fund tracking the O’Shares International Developed Quality Dividend Index, while MNBD is a Municipal Bonds fund actively managed by ALPS. OEFA is passively managed, while MNBD is actively managed. At a 0.32 correlation, their price movements are largely independent. OEFA charges 0.48%/yr vs 0.50%/yr for MNBD.

Performance

OEFA vs. MNBD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS O'Shares International Developed Quality Dividend ETF (OEFA) and ALPS Intermediate Municipal Bond ETF (MNBD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OEFA achieves a 2.38% return, which is significantly higher than MNBD's 1.74% return.

OEFA

• 1D: -0.69%
• 1M: 0.87%
• YTD: 2.38%
• 6M: 1.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MNBD

• 1D: -0.12%
• 1M: 1.22%
• YTD: 1.74%
• 6M: 1.84%
• 1Y: 6.07%
• 3Y*: 4.32%
• 5Y*: —
• 10Y*: —

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

OEFA vs. MNBD - Yearly Performance Comparison

	2026 (YTD)	2025
OEFA ALPS O'Shares International Developed Quality Dividend ETF	2.38%	0.73%
MNBD ALPS Intermediate Municipal Bond ETF	1.74%	1.41%

Correlation

The correlation between OEFA and MNBD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.32

Return for Risk

OEFA vs. MNBD — Risk / Return Rank

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

OEFA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MNBD

MNBD Risk / Return Rank: 74
MNBD Sharpe Ratio Rank: 83
MNBD Sortino Ratio Rank: 87
MNBD Omega Ratio Rank: 90
MNBD Calmar Ratio Rank: 56
MNBD Martin Ratio Rank: 52

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.

OEFA vs. MNBD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS O'Shares International Developed Quality Dividend ETF (OEFA) and ALPS Intermediate Municipal Bond ETF (MNBD). 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.

	OEFA	MNBD	Difference
Sharpe ratio: Return per unit of total volatility	—	2.45	—
Sortino ratio: Return per unit of downside risk	—	3.58	—
Omega ratio: Gain probability vs. loss probability	—	1.53	—
Calmar ratio: Return relative to maximum drawdown	—	2.56	—
Martin ratio: Return relative to average drawdown	—	8.16	—

Drawdowns

OEFA vs. MNBD - Drawdown Comparison

The maximum OEFA drawdown since its inception was -13.54%, which is greater than MNBD's maximum drawdown of -5.89%. Use the drawdown chart below to compare losses from any high point for OEFA and MNBD.

Drawdown Indicators

	OEFA	MNBD	Difference
Max Drawdown Largest peak-to-trough decline	-13.54%	-5.89%	-7.65%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.38%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.97%	—
Current Drawdown Current decline from peak	-3.83%	-0.51%	-3.32%
Average Drawdown Average peak-to-trough decline	-3.71%	-1.09%	-2.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.75%	—

Volatility

Volatility by Period

	OEFA	MNBD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.98%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.70%	2.49%	+15.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.70%	3.76%	+13.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.70%	3.76%	+13.94%

OEFA vs. MNBD - Expense Ratio Comparison

OEFA has a 0.48% expense ratio, which is lower than MNBD's 0.50% expense ratio.

Dividends

OEFA vs. MNBD - Dividend Comparison

OEFA's dividend yield for the trailing twelve months is around 1.45%, less than MNBD's 3.33% yield.

Position	TTM	2025	2024	2023	2022
MNBD ALPS Intermediate Municipal Bond ETF	3.33%	3.32%	3.83%	3.44%	2.40%
OEFA ALPS O'Shares International Developed Quality Dividend ETF	1.45%	0.28%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OEFA and MNBD in my portfolio?

OEFA and MNBD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OEFA or MNBD?

On fees, OEFA is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OEFA or MNBD?

OEFA is cheaper with a 0.48% expense ratio, compared with 0.50% for MNBD.

Which ETF pays a higher dividend yield, OEFA or MNBD?

MNBD has the higher dividend yield at 3.33%, compared with 1.45% for OEFA.

What is the main difference between OEFA and MNBD?

OEFA is categorized as International Equity, while MNBD is Municipal Bonds. Their fees differ too: 0.48% for OEFA and 0.50% for MNBD.