PIT vs. MUB
PIT (VanEck Commodity Strategy ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both exchange-traded funds - PIT is a Commodities fund actively managed by VanEck, while MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. PIT is actively managed, while MUB is passively managed. Over the past 3 years, PIT returned 19.64%/yr vs 2.86%/yr for MUB. Their -0.09 correlation means they have often moved in opposite directions in the past. PIT charges 0.55%/yr vs 0.07%/yr for MUB.
Performance
PIT vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, PIT achieves a 39.56% return, which is significantly higher than MUB's 0.21% return.
PIT
- 1D
- -0.05%
- 1M
- 12.06%
- 6M
- 25.04%
- YTD
- 39.56%
- 1Y
- 56.01%
- 3Y*
- 19.64%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 16.95%
MUB
- 1D
- -0.11%
- 1M
- -1.73%
- 6M
- -0.48%
- YTD
- 0.21%
- 1Y
- 4.48%
- 3Y*
- 2.86%
- 5Y*
- 0.55%
- 10Y*
- 1.79%
- ALL TIME*
- 3.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $531.87M | $437.83M | $388.20M | |
| $1.38M | $2.80M | $3.76M |
PIT vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PIT VanEck Commodity Strategy ETF | 39.56% | 21.63% | 6.77% | -4.54% | 1.67% |
MUB iShares National AMT-Free Muni Bond ETF | 0.21% | 3.78% | 1.26% | 5.56% | -0.18% |
Correlation
The correlation between PIT and MUB is -0.30, 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. | -0.30 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | -0.09 |
Over the past year, the inverse relationship between PIT and MUB has strengthened: their correlation has moved from -0.09 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
PIT vs. MUB — Risk / Return Rank
PIT
MUB
PIT vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Commodity Strategy ETF (PIT) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| PIT | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.34 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 1.80 | +1.39 |
| Martin ratioReturn relative to average drawdown | 10.87 | 5.86 | +5.00 |
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Drawdowns
PIT vs. MUB - Drawdown Comparison
The maximum PIT drawdown since its inception was -17.20%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for PIT and MUB.
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Drawdown Indicators
| PIT | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -13.68% | -3.52% |
Max Drawdown (1Y)Largest decline over 1 year | -17.20% | -2.79% | -14.41% |
Max Drawdown (3Y)Largest decline over 3 years | -17.20% | -4.78% | -12.42% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.78% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -5.78% | -1.79% | -3.99% |
Average DrawdownAverage peak-to-trough decline | -4.27% | -2.22% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.05% | 0.86% | +4.19% |
Volatility
PIT vs. MUB - Volatility Comparison
VanEck Commodity Strategy ETF (PIT) has a higher volatility of 6.47% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.96%. This indicates that PIT's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIT | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 0.96% | +5.51% |
Volatility (6M)Calculated over the trailing 6-month period | 19.93% | 2.41% | +17.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.30% | 2.98% | +19.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.70% | 4.09% | +13.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.70% | 4.91% | +12.79% |
PIT vs. MUB - Expense Ratio Comparison
PIT has a 0.55% expense ratio, which is higher than MUB's 0.07% expense ratio.
Dividends
PIT vs. MUB - Dividend Comparison
PIT's dividend yield for the trailing twelve months is around 6.39%, more than MUB's 3.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 2.96% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
PIT VanEck Commodity Strategy ETF | 6.39% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PIT and MUB have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIT has higher volatility (6.47%) compared to MUB (0.96%). In terms of maximum drawdown, PIT dropped -17.20% vs MUB's -13.68%.
On 3-year performance, PIT leads with 19.64% vs 2.86% for MUB. On fees, MUB is cheaper at 0.07% per year. On volatility, MUB has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 19.64% return vs 2.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUB is cheaper with a 0.07% expense ratio, compared with 0.55% for PIT.
PIT has the higher dividend yield at 6.39%, compared with 2.96% for MUB.
PIT is categorized as Commodities, while MUB is Municipal Bonds. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for PIT and 0.07% for MUB.
PIT currently has the higher Sharpe Ratio (2.47 vs 1.69), 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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