SHORX vs. MUC
SHORX (Western Asset Oregon Municipals Fund) and MUC (BlackRock MuniHoldings California Quality Fund) are both Municipal Bonds funds. Over the past 10 years, SHORX returned 1.38%/yr vs 0.55%/yr for MUC. Their 0.25 correlation means their historical movements had little consistent relationship. SHORX charges 1.30%/yr vs 2.14%/yr for MUC.
Performance
SHORX vs. MUC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SHORX achieves a 0.37% return, which is significantly lower than MUC's 3.62% return. Over the past 10 years, SHORX has outperformed MUC with an annualized return of 1.38%, while MUC has yielded a comparatively lower 0.55% annualized return.
SHORX
- 1D
- -0.10%
- 1M
- -1.73%
- 6M
- -0.36%
- YTD
- 0.37%
- 1Y
- 5.14%
- 3Y*
- 3.01%
- 5Y*
- 0.12%
- 10Y*
- 1.38%
- ALL TIME*
- 3.76%
MUC
- 1D
- 0.28%
- 1M
- -3.43%
- 6M
- -0.55%
- YTD
- 3.62%
- 1Y
- 10.86%
- 3Y*
- 5.85%
- 5Y*
- -3.00%
- 10Y*
- 0.55%
- ALL TIME*
- 3.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.28M | $3.74M | $3.54M | |
| $0.00 | $0.00 | $0.00 |
SHORX vs. MUC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHORX Western Asset Oregon Municipals Fund | 0.37% | 4.73% | 1.52% | 4.03% | -9.24% | 1.50% | 4.37% | 6.67% | 0.28% | 4.10% |
MUC BlackRock MuniHoldings California Quality Fund | 3.62% | 5.96% | 0.76% | 7.86% | -26.81% | 7.38% | 11.85% | 18.12% | -9.00% | 6.07% |
Correlation
The correlation between SHORX and MUC is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
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 2, 1998 | 0.25 |
Over the past year, SHORX and MUC have become more correlated (0.47) than their long-term average of 0.25, meaning their price movements have been converging.
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
SHORX vs. MUC — Risk / Return Rank
SHORX
MUC
SHORX vs. MUC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Oregon Municipals Fund (SHORX) and BlackRock MuniHoldings California Quality Fund (MUC). 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.
| SHORX | MUC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.26 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 1.67 | +0.50 |
| Martin ratioReturn relative to average drawdown | 7.53 | 6.80 | +0.74 |
Loading charts...
Drawdowns
SHORX vs. MUC - Drawdown Comparison
The maximum SHORX drawdown since its inception was -13.44%, smaller than the maximum MUC drawdown of -48.97%. Use the drawdown chart below to compare losses from any high point for SHORX and MUC.
Loading charts...
Drawdown Indicators
| SHORX | MUC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.44% | -48.97% | +35.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -6.53% | +3.99% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | -12.20% | +7.54% |
Max Drawdown (5Y)Largest decline over 5 years | -13.41% | -38.29% | +24.88% |
Max Drawdown (10Y)Largest decline over 10 years | -13.43% | -38.29% | +24.86% |
Current DrawdownCurrent decline from peak | -1.73% | -16.85% | +15.12% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -9.93% | +8.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 1.60% | -0.87% |
Volatility
SHORX vs. MUC - Volatility Comparison
The current volatility for Western Asset Oregon Municipals Fund (SHORX) is 0.73%, while BlackRock MuniHoldings California Quality Fund (MUC) has a volatility of 1.58%. This indicates that SHORX experiences smaller price fluctuations and is considered to be less risky than MUC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SHORX | MUC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 1.58% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 1.97% | 6.06% | -4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.50% | 8.15% | -5.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.68% | 11.47% | -7.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.98% | 11.88% | -7.90% |
SHORX vs. MUC - Expense Ratio Comparison
SHORX has a 1.30% expense ratio, which is lower than MUC's 2.14% expense ratio.
Dividends
SHORX vs. MUC - Dividend Comparison
SHORX's dividend yield for the trailing twelve months is around 2.19%, less than MUC's 6.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUC BlackRock MuniHoldings California Quality Fund | 6.05% | 6.06% | 5.62% | 3.84% | 5.79% | 4.27% | 3.96% | 3.90% | 4.99% | 5.14% | 5.45% | 5.46% |
SHORX Western Asset Oregon Municipals Fund | 2.19% | 3.11% | 2.45% | 2.03% | 1.77% | 1.58% | 1.96% | 2.70% | 3.33% | 3.21% | 3.42% | 3.59% |
Frequently Asked Questions
SHORX and MUC have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUC has higher volatility (1.58%) compared to SHORX (0.73%). In terms of maximum drawdown, SHORX dropped -13.44% vs MUC's -48.97%.
SHORX currently has the higher Sharpe Ratio (2.22 vs 1.34), 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.
Find the right allocation for SHORX and MUC
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