SIFI vs. MUSI

Last updated Jun 23, 2026

SIFI (Harbor Scientific Alpha Income ETF) and MUSI (American Century Multisector Income ETF) are both Multisector Bonds funds. Both are actively managed. Over the past 3 years, SIFI returned 7.51%/yr vs 6.50%/yr for MUSI. Their correlation of 0.81 suggests significant overlap in exposure. SIFI charges 0.50%/yr vs 0.36%/yr for MUSI.

Performance

SIFI vs. MUSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Scientific Alpha Income ETF (SIFI) and American Century Multisector Income ETF (MUSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIFI achieves a 1.26% return, which is significantly higher than MUSI's 0.76% return.

SIFI

• 1D: -0.14%
• 1M: 0.47%
• YTD: 1.26%
• 6M: 1.63%
• 1Y: 6.64%
• 3Y*: 7.51%
• 5Y*: —
• 10Y*: —

MUSI

• 1D: -0.21%
• 1M: 0.50%
• YTD: 0.76%
• 6M: 0.95%
• 1Y: 5.45%
• 3Y*: 6.50%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SIFI vs. MUSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SIFI Harbor Scientific Alpha Income ETF	1.26%	8.83%	5.05%	8.75%	-10.58%	-0.97%
MUSI American Century Multisector Income ETF	0.76%	8.32%	5.14%	7.51%	-10.33%	-0.52%

Correlation

The correlation between SIFI and MUSI is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021	0.81

The correlation between SIFI and MUSI has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.

Return for Risk

SIFI vs. MUSI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SIFI

SIFI Risk / Return Rank: 62
SIFI Sharpe Ratio Rank: 62
SIFI Sortino Ratio Rank: 70
SIFI Omega Ratio Rank: 66
SIFI Calmar Ratio Rank: 51
SIFI Martin Ratio Rank: 59

MUSI

MUSI Risk / Return Rank: 46
MUSI Sharpe Ratio Rank: 48
MUSI Sortino Ratio Rank: 51
MUSI Omega Ratio Rank: 48
MUSI Calmar Ratio Rank: 40
MUSI Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SIFI vs. MUSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Scientific Alpha Income ETF (SIFI) and American Century Multisector Income ETF (MUSI). 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.

	SIFI	MUSI	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.62	+0.37
Sortino ratio: Return per unit of downside risk	3.06	2.43	+0.63
Omega ratio: Gain probability vs. loss probability	1.38	1.30	+0.08
Calmar ratio: Return relative to maximum drawdown	2.46	1.97	+0.49
Martin ratio: Return relative to average drawdown	10.05	6.79	+3.26

SIFI vs. MUSI - Sharpe Ratio Comparison

The current SIFI Sharpe Ratio is 2.00, which is comparable to the MUSI Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of SIFI and MUSI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SIFI vs. MUSI - Drawdown Comparison

The maximum SIFI drawdown since its inception was -14.68%, which is greater than MUSI's maximum drawdown of -13.91%. Use the drawdown chart below to compare losses from any high point for SIFI and MUSI.

Drawdown Indicators

	SIFI	MUSI	Difference
Max Drawdown Largest peak-to-trough decline	-14.68%	-13.91%	-0.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-2.78%	+0.07%
Max Drawdown (3Y) Largest decline over 3 years	-3.46%	-4.16%	+0.70%
Current Drawdown Current decline from peak	-0.27%	-0.98%	+0.71%
Average Drawdown Average peak-to-trough decline	-4.77%	-4.19%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.81%	-0.15%

Volatility

SIFI vs. MUSI - Volatility Comparison

The current volatility for Harbor Scientific Alpha Income ETF (SIFI) is 0.79%, while American Century Multisector Income ETF (MUSI) has a volatility of 1.05%. This indicates that SIFI experiences smaller price fluctuations and is considered to be less risky than MUSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIFI	MUSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	1.05%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	2.72%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	3.38%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.92%	4.84%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.92%	4.84%	+0.08%

SIFI vs. MUSI - Expense Ratio Comparison

SIFI has a 0.50% expense ratio, which is higher than MUSI's 0.36% expense ratio.

Dividends

SIFI vs. MUSI - Dividend Comparison

SIFI's dividend yield for the trailing twelve months is around 6.44%, more than MUSI's 5.53% yield.

Position	TTM	2025	2024	2023	2022	2021
MUSI American Century Multisector Income ETF	5.53%	5.74%	6.00%	5.20%	4.02%	1.62%
SIFI Harbor Scientific Alpha Income ETF	6.44%	6.57%	5.87%	5.71%	3.88%	0.86%

Frequently Asked Questions

Can I hold both SIFI and MUSI in my portfolio?

SIFI and MUSI have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIFI or MUSI?

MUSI has higher volatility (1.05%) compared to SIFI (0.79%). In terms of maximum drawdown, SIFI dropped -14.68% vs MUSI's -13.91%.

Which ETF is better, SIFI or MUSI?

On 3-year performance, SIFI leads with 7.51% vs 6.50% for MUSI. On fees, MUSI is cheaper at 0.36% per year. On volatility, SIFI has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIFI or MUSI?

Over the 3-year period, SIFI has performed better with a 7.51% return vs 6.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIFI or MUSI?

MUSI is cheaper with a 0.36% expense ratio, compared with 0.50% for SIFI.

Which ETF pays a higher dividend yield, SIFI or MUSI?

SIFI has the higher dividend yield at 6.44%, compared with 5.53% for MUSI.

What is the main difference between SIFI and MUSI?

They also come from different issuers: Harbor and American Century. Their fees differ too: 0.50% for SIFI and 0.36% for MUSI.

Which has better risk-adjusted returns?

SIFI currently has the higher Sharpe Ratio (2.00 vs 1.62), 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.