SCMBX vs. MUNI
SCMBX (DWS Managed Municipal Bond Fund) and MUNI (PIMCO Intermediate Municipal Bond Active ETF) are both Municipal Bonds funds. Over the past 10 years, SCMBX returned 1.69%/yr vs 2.09%/yr for MUNI. A 0.56 correlation means they provide meaningful diversification when combined. SCMBX charges 0.54%/yr vs 0.35%/yr for MUNI.
Performance
SCMBX vs. MUNI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SCMBX achieves a 1.76% return, which is significantly higher than MUNI's 1.48% return. Over the past 10 years, SCMBX has underperformed MUNI with an annualized return of 1.69%, while MUNI has yielded a comparatively higher 2.09% annualized return.
SCMBX
- 1D
- -0.12%
- 1M
- 1.52%
- YTD
- 1.76%
- 6M
- 2.26%
- 1Y
- 6.51%
- 3Y*
- 3.56%
- 5Y*
- 0.13%
- 10Y*
- 1.69%
MUNI
- 1D
- -0.08%
- 1M
- 1.12%
- YTD
- 1.48%
- 6M
- 1.63%
- 1Y
- 5.90%
- 3Y*
- 3.78%
- 5Y*
- 1.33%
- 10Y*
- 2.09%
SCMBX vs. MUNI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCMBX DWS Managed Municipal Bond Fund | 1.76% | 3.21% | 2.52% | 6.64% | -12.83% | 2.09% | 4.72% | 8.93% | 0.21% | 5.58% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 1.48% | 4.72% | 1.43% | 6.07% | -6.62% | 0.67% | 4.83% | 7.09% | 0.84% | 4.86% |
Correlation
The correlation between SCMBX and MUNI is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2009 | 0.56 |
The correlation between SCMBX and MUNI shifts across timeframes, from 0.56 (all time) to 0.72 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SCMBX vs. MUNI — Risk / Return Rank
SCMBX
MUNI
SCMBX vs. MUNI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DWS Managed Municipal Bond Fund (SCMBX) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). 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.
| SCMBX | MUNI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.59 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.58 | -0.32 |
| Martin ratioReturn relative to average drawdown | 7.48 | 8.29 | -0.81 |
Loading charts...
Drawdowns
SCMBX vs. MUNI - Drawdown Comparison
The maximum SCMBX drawdown since its inception was -18.17%, which is greater than MUNI's maximum drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for SCMBX and MUNI.
Loading charts...
Drawdown Indicators
| SCMBX | MUNI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.17% | -11.15% | -7.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -2.29% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -7.02% | -4.09% | -2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.17% | -11.15% | -7.02% |
Max Drawdown (10Y)Largest decline over 10 years | -18.17% | -11.15% | -7.02% |
Current DrawdownCurrent decline from peak | -0.45% | -0.56% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -1.73% | -0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.71% | +0.18% |
Volatility
SCMBX vs. MUNI - Volatility Comparison
DWS Managed Municipal Bond Fund (SCMBX) has a higher volatility of 0.82% compared to PIMCO Intermediate Municipal Bond Active ETF (MUNI) at 0.59%. This indicates that SCMBX's price experiences larger fluctuations and is considered to be riskier than MUNI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SCMBX | MUNI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.59% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 1.63% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 2.23% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 3.32% | +1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.32% | 3.85% | +0.47% |
SCMBX vs. MUNI - Expense Ratio Comparison
SCMBX has a 0.54% expense ratio, which is higher than MUNI's 0.35% expense ratio.
Dividends
SCMBX vs. MUNI - Dividend Comparison
SCMBX's dividend yield for the trailing twelve months is around 3.74%, more than MUNI's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.28% | 3.26% | 3.50% | 3.09% | 2.13% | 1.62% | 1.92% | 2.44% | 2.38% | 2.37% | 2.37% | 2.20% |
SCMBX DWS Managed Municipal Bond Fund | 3.74% | 4.46% | 3.49% | 2.64% | 2.36% | 3.27% | 3.57% | 4.32% | 3.42% | 3.31% | 3.87% | 3.99% |
Frequently Asked Questions
SCMBX and MUNI have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCMBX has higher volatility (0.82%) compared to MUNI (0.59%). In terms of maximum drawdown, SCMBX dropped -18.17% vs MUNI's -11.15%.
MUNI currently has the higher Sharpe Ratio (2.66 vs 2.25), 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.
Find the right allocation for SCMBX and MUNI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer