PMMF vs. INMU
PMMF (iShares Prime Money Market ETF) and INMU (BlackRock Intermediate Muni Income Bond ETF) are both exchange-traded funds - PMMF is a Money Market fund actively managed by BlackRock, while INMU is a Municipal Bonds fund actively managed by BlackRock. Both are actively managed. Over the past year, PMMF returned 4.00% vs 7.17% for INMU. At a 0.06 correlation, their price movements are largely independent. PMMF charges 0.20%/yr vs 0.30%/yr for INMU.
Performance
PMMF vs. INMU - Performance Comparison
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Returns By Period
In the year-to-date period, PMMF achieves a 1.52% return, which is significantly lower than INMU's 1.73% return.
PMMF
- 1D
- 0.01%
- 1M
- 0.30%
- YTD
- 1.52%
- 6M
- 1.82%
- 1Y
- 4.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INMU
- 1D
- 0.00%
- 1M
- 0.57%
- YTD
- 1.73%
- 6M
- 1.98%
- 1Y
- 7.17%
- 3Y*
- 4.89%
- 5Y*
- 1.78%
- 10Y*
- —
PMMF vs. INMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PMMF iShares Prime Money Market ETF | 1.52% | 3.85% |
INMU BlackRock Intermediate Muni Income Bond ETF | 1.73% | 4.40% |
Correlation
The correlation between PMMF and INMU is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2025 | 0.06 |
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Return for Risk
PMMF vs. INMU — Risk / Return Rank
PMMF
INMU
PMMF vs. INMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Prime Money Market ETF (PMMF) and BlackRock Intermediate Muni Income Bond ETF (INMU). 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.
| PMMF | INMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +16.85 | ||
| Sortino ratioReturn per unit of downside risk | +91.00 | ||
| Omega ratioGain probability vs. loss probability | 38.37 | 1.65 | +36.73 |
| Calmar ratioReturn relative to maximum drawdown | 161.17 | 2.79 | +158.38 |
| Martin ratioReturn relative to average drawdown | 1,488.23 | 9.53 | +1,478.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PMMF | INMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 19.72 | 2.87 | +16.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 11.97 | 0.60 | +11.38 |
Drawdowns
PMMF vs. INMU - Drawdown Comparison
The maximum PMMF drawdown since its inception was -0.13%, smaller than the maximum INMU drawdown of -10.67%. Use the drawdown chart below to compare losses from any high point for PMMF and INMU.
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Drawdown Indicators
| PMMF | INMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.13% | -10.67% | +10.54% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -2.58% | +2.56% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.67% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.66% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -2.81% | +2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.75% | -0.75% |
Volatility
PMMF vs. INMU - Volatility Comparison
The current volatility for iShares Prime Money Market ETF (PMMF) is 0.05%, while BlackRock Intermediate Muni Income Bond ETF (INMU) has a volatility of 0.81%. This indicates that PMMF experiences smaller price fluctuations and is considered to be less risky than INMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMMF | INMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.81% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 0.12% | 1.88% | -1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 2.51% | -2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 3.60% | -3.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 3.54% | -3.20% |
PMMF vs. INMU - Expense Ratio Comparison
PMMF has a 0.20% expense ratio, which is lower than INMU's 0.30% expense ratio.
Dividends
PMMF vs. INMU - Dividend Comparison
PMMF's dividend yield for the trailing twelve months is around 3.83%, more than INMU's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
INMU BlackRock Intermediate Muni Income Bond ETF | 3.36% | 3.48% | 3.47% | 3.44% | 1.92% | 1.14% |
PMMF iShares Prime Money Market ETF | 3.83% | 3.59% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PMMF and INMU have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INMU has higher volatility (0.81%) compared to PMMF (0.05%). In terms of maximum drawdown, PMMF dropped -0.13% vs INMU's -10.67%.
On 1-year performance, INMU leads with 7.17% vs 4.00% for PMMF. On fees, PMMF is cheaper at 0.20% per year. On volatility, PMMF has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, INMU has performed better with a 7.17% return vs 4.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PMMF is cheaper with a 0.20% expense ratio, compared with 0.30% for INMU.
PMMF has the higher dividend yield at 3.83%, compared with 3.36% for INMU.
PMMF is categorized as Money Market, while INMU is Municipal Bonds. Their fees differ too: 0.20% for PMMF and 0.30% for INMU.
PMMF currently has the higher Sharpe Ratio (19.72 vs 2.87), 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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