OWMBX vs. MQY
OWMBX (Old Westbury Municipal Bond Fund) and MQY (BlackRock MuniYield Quality Fund) are both Municipal Bonds funds. Over the past 10 years, OWMBX returned 1.24%/yr vs 1.14%/yr for MQY. Their 0.28 correlation means their historical movements had little consistent relationship. OWMBX charges 0.57%/yr vs 2.07%/yr for MQY.
Performance
OWMBX vs. MQY - Performance Comparison
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Returns By Period
In the year-to-date period, OWMBX achieves a -0.56% return, which is significantly lower than MQY's 3.23% return. Over the past 10 years, OWMBX has outperformed MQY with an annualized return of 1.24%, while MQY has yielded a comparatively lower 1.14% annualized return.
OWMBX
- 1D
- 0.09%
- 1M
- -1.22%
- 6M
- -1.42%
- YTD
- -0.56%
- 1Y
- 1.99%
- 3Y*
- 2.49%
- 5Y*
- 0.32%
- 10Y*
- 1.24%
- ALL TIME*
- 3.05%
MQY
- 1D
- 0.36%
- 1M
- -2.61%
- 6M
- -1.47%
- YTD
- 3.23%
- 1Y
- 8.17%
- 3Y*
- 5.27%
- 5Y*
- -2.31%
- 10Y*
- 1.14%
- ALL TIME*
- 5.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.09M | $4.32M | $4.22M | |
| $0.00 | $0.00 | $0.00 |
OWMBX vs. MQY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OWMBX Old Westbury Municipal Bond Fund | -0.56% | 4.29% | 0.43% | 4.03% | -5.39% | -0.63% | 5.01% | 5.58% | 0.87% | 2.22% |
MQY BlackRock MuniYield Quality Fund | 3.23% | 4.28% | -0.06% | 10.20% | -24.23% | 2.67% | 14.65% | 20.89% | -10.12% | 8.98% |
Correlation
The correlation between OWMBX and MQY is 0.50, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.47 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 1998 | 0.28 |
Over the past year, OWMBX and MQY have become more correlated (0.50) than their long-term average of 0.28, meaning their price movements have been converging.
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Return for Risk
OWMBX vs. MQY — Risk / Return Rank
OWMBX
MQY
OWMBX vs. MQY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Old Westbury Municipal Bond Fund (OWMBX) and BlackRock MuniYield Quality Fund (MQY). 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.
| OWMBX | MQY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.16 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.01 | +0.08 |
| Martin ratioReturn relative to average drawdown | 2.54 | 3.17 | -0.63 |
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Drawdowns
OWMBX vs. MQY - Drawdown Comparison
The maximum OWMBX drawdown since its inception was -9.54%, smaller than the maximum MQY drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for OWMBX and MQY.
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Drawdown Indicators
| OWMBX | MQY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -41.67% | +32.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.45% | -8.13% | +5.68% |
Max Drawdown (3Y)Largest decline over 3 years | -3.22% | -17.03% | +13.81% |
Max Drawdown (5Y)Largest decline over 5 years | -9.22% | -35.44% | +26.22% |
Max Drawdown (10Y)Largest decline over 10 years | -9.44% | -35.97% | +26.53% |
Current DrawdownCurrent decline from peak | -2.17% | -14.06% | +11.89% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -8.31% | +6.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 2.59% | -1.59% |
Volatility
OWMBX vs. MQY - Volatility Comparison
The current volatility for Old Westbury Municipal Bond Fund (OWMBX) is 0.69%, while BlackRock MuniYield Quality Fund (MQY) has a volatility of 2.03%. This indicates that OWMBX experiences smaller price fluctuations and is considered to be less risky than MQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OWMBX | MQY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 2.03% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 7.27% | -5.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.02% | 9.40% | -7.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.13% | 12.22% | -9.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.04% | 13.02% | -9.98% |
OWMBX vs. MQY - Expense Ratio Comparison
OWMBX has a 0.57% expense ratio, which is lower than MQY's 2.07% expense ratio.
Dividends
OWMBX vs. MQY - Dividend Comparison
OWMBX's dividend yield for the trailing twelve months is around 2.63%, less than MQY's 6.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MQY BlackRock MuniYield Quality Fund | 6.18% | 6.16% | 6.04% | 4.46% | 5.87% | 4.93% | 4.21% | 4.00% | 5.24% | 5.67% | 6.10% | 6.06% |
OWMBX Old Westbury Municipal Bond Fund | 2.63% | 2.61% | 2.54% | 2.01% | 1.15% | 2.06% | 2.55% | 1.68% | 1.45% | 1.18% | 1.61% | 1.40% |
Frequently Asked Questions
OWMBX and MQY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MQY has higher volatility (2.03%) compared to OWMBX (0.69%). In terms of maximum drawdown, OWMBX dropped -9.54% vs MQY's -41.67%.
OWMBX currently has the higher Sharpe Ratio (1.32 vs 0.87), 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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