SKOR vs. FMHI
SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) and FMHI (First Trust Municipal High Income ETF) are both exchange-traded funds - SKOR is a Corporate Bonds fund tracking the NorthernTrustUS Corporate Bond Quality Value Index, while FMHI is a Municipal Bonds fund actively managed by First Trust. SKOR is passively managed, while FMHI is actively managed. Over the past 5 years, SKOR returned 1.73%/yr vs 0.89%/yr for FMHI. At a 0.44 correlation, their price movements are largely independent. SKOR charges 0.22%/yr vs 0.55%/yr for FMHI.
Performance
SKOR vs. FMHI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SKOR achieves a 0.06% return, which is significantly lower than FMHI's 2.60% return.
SKOR
- 1D
- -0.39%
- 1M
- -0.44%
- YTD
- 0.06%
- 6M
- 0.39%
- 1Y
- 4.67%
- 3Y*
- 5.81%
- 5Y*
- 1.73%
- 10Y*
- 2.81%
FMHI
- 1D
- -0.08%
- 1M
- 0.69%
- YTD
- 2.60%
- 6M
- 3.18%
- 1Y
- 8.43%
- 3Y*
- 5.22%
- 5Y*
- 0.89%
- 10Y*
- —
SKOR vs. FMHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.06% | 7.99% | 4.42% | 7.64% | -9.88% | -1.40% | 8.84% | 10.69% | -1.25% | 0.01% |
FMHI First Trust Municipal High Income ETF | 2.60% | 3.54% | 5.41% | 7.20% | -14.67% | 7.58% | 4.09% | 10.34% | 2.50% | 1.08% |
Correlation
The correlation between SKOR and FMHI is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017 | 0.44 |
The correlation between SKOR and FMHI shifts across timeframes, from 0.44 (all time) to 0.67 (3 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
SKOR vs. FMHI — Risk / Return Rank
SKOR
FMHI
SKOR vs. FMHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) and First Trust Municipal High Income ETF (FMHI). 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.
| SKOR | FMHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.61 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 3.61 | -1.36 |
| Martin ratioReturn relative to average drawdown | 7.99 | 13.57 | -5.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SKOR | FMHI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 2.73 | -1.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.19 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.56 | +0.06 |
Drawdowns
SKOR vs. FMHI - Drawdown Comparison
The maximum SKOR drawdown since its inception was -15.98%, smaller than the maximum FMHI drawdown of -18.83%. Use the drawdown chart below to compare losses from any high point for SKOR and FMHI.
Loading charts...
Drawdown Indicators
| SKOR | FMHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.98% | -18.83% | +2.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -2.35% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -3.11% | -6.17% | +3.06% |
Max Drawdown (5Y)Largest decline over 5 years | -15.13% | -18.83% | +3.70% |
Max Drawdown (10Y)Largest decline over 10 years | -15.98% | — | — |
Current DrawdownCurrent decline from peak | -1.05% | -0.08% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -4.52% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 0.62% | -0.03% |
Volatility
SKOR vs. FMHI - Volatility Comparison
The current volatility for FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) is 0.87%, while First Trust Municipal High Income ETF (FMHI) has a volatility of 0.95%. This indicates that SKOR experiences smaller price fluctuations and is considered to be less risky than FMHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SKOR | FMHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.95% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.02% | 2.10% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.73% | 3.10% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 4.76% | -0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 5.73% | -0.83% |
SKOR vs. FMHI - Expense Ratio Comparison
SKOR has a 0.22% expense ratio, which is lower than FMHI's 0.55% expense ratio.
Dividends
SKOR vs. FMHI - Dividend Comparison
SKOR's dividend yield for the trailing twelve months is around 4.68%, more than FMHI's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMHI First Trust Municipal High Income ETF | 4.25% | 4.16% | 4.01% | 3.89% | 3.57% | 2.87% | 3.13% | 3.33% | 3.46% | 0.30% | 0.00% | 0.00% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.68% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
Frequently Asked Questions
SKOR and FMHI have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMHI has higher volatility (0.95%) compared to SKOR (0.87%). In terms of maximum drawdown, SKOR dropped -15.98% vs FMHI's -18.83%.
On 5-year performance, SKOR leads with 1.73% vs 0.89% for FMHI. On fees, SKOR is cheaper at 0.22% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SKOR has performed better with a 1.73% return vs 0.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKOR is cheaper with a 0.22% expense ratio, compared with 0.55% for FMHI.
SKOR has the higher dividend yield at 4.68%, compared with 4.25% for FMHI.
SKOR is categorized as Corporate Bonds, while FMHI is Municipal Bonds. They also come from different issuers: Northern Trust and First Trust. Their fees differ too: 0.22% for SKOR and 0.55% for FMHI.
FMHI currently has the higher Sharpe Ratio (2.73 vs 1.72), 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 SKOR and FMHI
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