SCMB vs. ITM
SCMB (Schwab Municipal Bond ETF) and ITM (VanEck Intermediate Muni ETF) are both Municipal Bonds funds - SCMB tracks the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross while ITM tracks the Bloomberg AMT-Free Intermediate Continuous. Both are passively managed. Over the past 3 years, SCMB returned 3.37%/yr vs 3.70%/yr for ITM. Their correlation of 0.82 suggests significant overlap in exposure. SCMB charges 0.03%/yr vs 0.24%/yr for ITM.
Performance
SCMB vs. ITM - Performance Comparison
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Returns By Period
In the year-to-date period, SCMB achieves a 1.07% return, which is significantly higher than ITM's 0.61% return.
SCMB
- 1D
- -0.12%
- 1M
- 0.60%
- YTD
- 1.07%
- 6M
- 1.55%
- 1Y
- 6.86%
- 3Y*
- 3.37%
- 5Y*
- —
- 10Y*
- —
ITM
- 1D
- -0.09%
- 1M
- 0.79%
- YTD
- 0.61%
- 6M
- 1.22%
- 1Y
- 7.29%
- 3Y*
- 3.70%
- 5Y*
- 0.44%
- 10Y*
- 1.95%
SCMB vs. ITM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SCMB Schwab Municipal Bond ETF | 1.07% | 3.78% | 0.91% | 5.86% | 3.05% |
ITM VanEck Intermediate Muni ETF | 0.61% | 5.34% | 0.73% | 5.69% | 3.36% |
Correlation
The correlation between SCMB and ITM is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2022 | 0.82 |
The correlation between SCMB and ITM has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.
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Return for Risk
SCMB vs. ITM — Risk / Return Rank
SCMB
ITM
SCMB vs. ITM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Municipal Bond ETF (SCMB) and VanEck Intermediate Muni ETF (ITM). 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.
| SCMB | ITM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.55 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 2.13 | +0.23 |
| Martin ratioReturn relative to average drawdown | 7.89 | 6.84 | +1.05 |
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
| SCMB | ITM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.34 | 2.58 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.10 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.28 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.44 | +0.54 |
Drawdowns
SCMB vs. ITM - Drawdown Comparison
The maximum SCMB drawdown since its inception was -6.13%, smaller than the maximum ITM drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for SCMB and ITM.
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Drawdown Indicators
| SCMB | ITM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.13% | -24.75% | +18.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -3.43% | +0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -5.57% | -5.68% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.75% | — |
Current DrawdownCurrent decline from peak | -0.87% | -1.33% | +0.46% |
Average DrawdownAverage peak-to-trough decline | -1.32% | -2.98% | +1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 1.07% | -0.20% |
Volatility
SCMB vs. ITM - Volatility Comparison
Schwab Municipal Bond ETF (SCMB) and VanEck Intermediate Muni ETF (ITM) have volatilities of 1.04% and 1.01%, 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.
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Volatility by Period
| SCMB | ITM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 1.01% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.17% | 2.18% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.94% | 2.84% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.16% | 4.31% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.16% | 7.10% | -2.94% |
SCMB vs. ITM - Expense Ratio Comparison
SCMB has a 0.03% expense ratio, which is lower than ITM's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SCMB vs. ITM - Dividend Comparison
SCMB's dividend yield for the trailing twelve months is around 3.54%, more than ITM's 2.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITM VanEck Intermediate Muni ETF | 2.93% | 2.86% | 2.73% | 2.40% | 1.92% | 1.70% | 2.13% | 2.44% | 2.33% | 2.21% | 2.29% | 2.28% |
SCMB Schwab Municipal Bond ETF | 3.54% | 3.36% | 3.34% | 3.10% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCMB and ITM have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCMB has higher volatility (1.04%) compared to ITM (1.01%). In terms of maximum drawdown, SCMB dropped -6.13% vs ITM's -24.75%.
On 3-year performance, ITM leads with 3.70% vs 3.37% for SCMB. On fees, SCMB is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ITM has performed better with a 3.70% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCMB is cheaper with a 0.03% expense ratio, compared with 0.24% for ITM.
SCMB has the higher dividend yield at 3.54%, compared with 2.93% for ITM.
SCMB tracks ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross, while ITM tracks Bloomberg AMT-Free Intermediate Continuous. They also come from different issuers: Charles Schwab and VanEck. Their fees differ too: 0.03% for SCMB and 0.24% for ITM.
ITM currently has the higher Sharpe Ratio (2.58 vs 2.34), 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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