SMMU vs. STPZ
Compare and contrast key facts about PIMCO Short Term Municipal Bond Active ETF (SMMU) and PIMCO 1-5 Year US TIPS Index ETF (STPZ).
SMMU and STPZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMMU is an actively managed fund by PIMCO. It was launched on Feb 1, 2010. STPZ is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US Inflation-Linked Treasury (1-5 Y). It was launched on Aug 20, 2009.
Performance
SMMU vs. STPZ - Performance Comparison
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SMMU vs. STPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMMU PIMCO Short Term Municipal Bond Active ETF | 0.49% | 4.06% | 2.68% | 4.39% | -2.45% | 0.17% | 2.87% | 3.47% | 1.51% | 2.34% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 0.83% | 6.40% | 4.30% | 4.28% | -4.49% | 5.64% | 5.44% | 4.83% | 0.04% | 0.51% |
Returns By Period
In the year-to-date period, SMMU achieves a 0.49% return, which is significantly lower than STPZ's 0.83% return. Over the past 10 years, SMMU has underperformed STPZ with an annualized return of 1.80%, while STPZ has yielded a comparatively higher 2.82% annualized return.
SMMU
- 1D
- 0.08%
- 1M
- -0.63%
- YTD
- 0.49%
- 6M
- 1.19%
- 1Y
- 3.72%
- 3Y*
- 3.41%
- 5Y*
- 1.85%
- 10Y*
- 1.80%
STPZ
- 1D
- 0.07%
- 1M
- -0.12%
- YTD
- 0.83%
- 6M
- 1.08%
- 1Y
- 3.83%
- 3Y*
- 4.47%
- 5Y*
- 3.05%
- 10Y*
- 2.82%
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SMMU vs. STPZ - Expense Ratio Comparison
SMMU has a 0.35% expense ratio, which is higher than STPZ's 0.20% expense ratio.
Return for Risk
SMMU vs. STPZ — Risk / Return Rank
SMMU
STPZ
SMMU vs. STPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Short Term Municipal Bond Active ETF (SMMU) and PIMCO 1-5 Year US TIPS Index ETF (STPZ). 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.
| SMMU | STPZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.10 | 1.61 | +0.49 |
Sortino ratioReturn per unit of downside risk | 2.53 | 2.30 | +0.22 |
Omega ratioGain probability vs. loss probability | 1.59 | 1.33 | +0.26 |
Calmar ratioReturn relative to maximum drawdown | 2.03 | 2.92 | -0.88 |
Martin ratioReturn relative to average drawdown | 10.49 | 8.71 | +1.78 |
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
| SMMU | STPZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 1.61 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 0.93 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.95 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.89 | -0.29 |
Correlation
The correlation between SMMU and STPZ is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SMMU vs. STPZ - Dividend Comparison
SMMU's dividend yield for the trailing twelve months is around 2.79%, less than STPZ's 3.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMMU PIMCO Short Term Municipal Bond Active ETF | 2.79% | 2.80% | 3.03% | 2.79% | 1.37% | 0.60% | 1.19% | 1.82% | 1.57% | 1.41% | 1.03% | 0.89% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 3.59% | 3.65% | 1.97% | 1.63% | 5.88% | 3.65% | 1.86% | 1.76% | 2.23% | 1.51% | 0.65% | 0.49% |
Drawdowns
SMMU vs. STPZ - Drawdown Comparison
The maximum SMMU drawdown since its inception was -5.09%, smaller than the maximum STPZ drawdown of -6.77%. Use the drawdown chart below to compare losses from any high point for SMMU and STPZ.
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Drawdown Indicators
| SMMU | STPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.09% | -6.77% | +1.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.95% | -1.35% | -0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -4.76% | -6.70% | +1.94% |
Max Drawdown (10Y)Largest decline over 10 years | -5.09% | -6.77% | +1.68% |
Current DrawdownCurrent decline from peak | -0.63% | -0.37% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -0.55% | -1.32% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.45% | -0.07% |
Volatility
SMMU vs. STPZ - Volatility Comparison
The current volatility for PIMCO Short Term Municipal Bond Active ETF (SMMU) is 0.53%, while PIMCO 1-5 Year US TIPS Index ETF (STPZ) has a volatility of 0.72%. This indicates that SMMU experiences smaller price fluctuations and is considered to be less risky than STPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMMU | STPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.72% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 0.74% | 1.21% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.79% | 2.38% | -0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.67% | 3.30% | -1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.75% | 2.98% | -0.23% |