SNDPX vs. MIY

Last updated Jun 6, 2026

SNDPX (AB Intermediate Diversified Municipal Portfolio) and MIY (BlackRock MuniYield Michigan Quality Fund) are both Municipal Bonds funds. Over the past 10 years, SNDPX returned 1.89%/yr vs 2.45%/yr for MIY. At a 0.23 correlation, their price movements are largely independent. SNDPX charges 0.47%/yr vs 2.25%/yr for MIY.

Performance

SNDPX vs. MIY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Intermediate Diversified Municipal Portfolio (SNDPX) and BlackRock MuniYield Michigan Quality Fund (MIY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNDPX achieves a 1.11% return, which is significantly lower than MIY's 5.75% return. Over the past 10 years, SNDPX has underperformed MIY with an annualized return of 1.89%, while MIY has yielded a comparatively higher 2.45% annualized return.

SNDPX

• 1D: 0.00%
• 1M: 0.33%
• YTD: 1.11%
• 6M: 1.61%
• 1Y: 5.50%
• 3Y*: 3.63%
• 5Y*: 1.27%
• 10Y*: 1.89%

MIY

• 1D: -0.08%
• 1M: 1.80%
• YTD: 5.75%
• 6M: 5.98%
• 1Y: 13.03%
• 3Y*: 9.08%
• 5Y*: -0.00%
• 10Y*: 2.45%

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

SNDPX vs. MIY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SNDPX AB Intermediate Diversified Municipal Portfolio	1.11%	4.11%	2.89%	4.13%	-5.93%	1.37%	4.14%	5.88%	0.95%	2.84%
MIY BlackRock MuniYield Michigan Quality Fund	5.75%	11.24%	3.48%	6.60%	-24.10%	10.04%	7.27%	19.51%	-6.71%	8.86%

Correlation

The correlation between SNDPX and MIY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Oct 28, 1994	0.23

The correlation between SNDPX and MIY shifts across timeframes, from 0.23 (all time) to 0.45 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

SNDPX vs. MIY — Risk / Return Rank

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

SNDPX

SNDPX Risk / Return Rank: 77
SNDPX Sharpe Ratio Rank: 95
SNDPX Sortino Ratio Rank: 96
SNDPX Omega Ratio Rank: 97
SNDPX Calmar Ratio Rank: 54
SNDPX Martin Ratio Rank: 41

MIY

MIY Risk / Return Rank: 17
MIY Sharpe Ratio Rank: 17
MIY Sortino Ratio Rank: 19
MIY Omega Ratio Rank: 20
MIY Calmar Ratio Rank: 15
MIY Martin Ratio Rank: 16

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.

SNDPX vs. MIY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Intermediate Diversified Municipal Portfolio (SNDPX) and BlackRock MuniYield Michigan Quality Fund (MIY). 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.

	SNDPX	MIY	Difference
Sharpe ratio: Return per unit of total volatility	3.23	1.12	+2.11
Sortino ratio: Return per unit of downside risk	5.32	1.74	+3.58
Omega ratio: Gain probability vs. loss probability	1.89	1.23	+0.66
Calmar ratio: Return relative to maximum drawdown	2.73	1.30	+1.43
Martin ratio: Return relative to average drawdown	8.61	4.11	+4.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SNDPX vs. MIY - Sharpe Ratio Comparison

The current SNDPX Sharpe Ratio is 3.23, which is higher than the MIY Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of SNDPX and MIY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SNDPX	MIY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.23	1.12	+2.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	-0.00	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.21	+0.50
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	0.37	+1.22

Drawdowns

SNDPX vs. MIY - Drawdown Comparison

The maximum SNDPX drawdown since its inception was -9.57%, smaller than the maximum MIY drawdown of -42.19%. Use the drawdown chart below to compare losses from any high point for SNDPX and MIY.

Drawdown Indicators

	SNDPX	MIY	Difference
Max Drawdown Largest peak-to-trough decline	-9.57%	-42.19%	+32.62%
Max Drawdown (1Y) Largest decline over 1 year	-2.02%	-10.08%	+8.06%
Max Drawdown (3Y) Largest decline over 3 years	-3.29%	-14.72%	+11.43%
Max Drawdown (5Y) Largest decline over 5 years	-9.22%	-34.59%	+25.37%
Max Drawdown (10Y) Largest decline over 10 years	-9.57%	-34.59%	+25.02%
Current Drawdown Current decline from peak	-0.75%	-3.79%	+3.04%
Average Drawdown Average peak-to-trough decline	-1.00%	-8.32%	+7.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	3.18%	-2.54%

Volatility

SNDPX vs. MIY - Volatility Comparison

The current volatility for AB Intermediate Diversified Municipal Portfolio (SNDPX) is 0.74%, while BlackRock MuniYield Michigan Quality Fund (MIY) has a volatility of 1.99%. This indicates that SNDPX experiences smaller price fluctuations and is considered to be less risky than MIY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNDPX	MIY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	1.99%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	1.34%	10.33%	-8.99%
Volatility (1Y) Calculated over the trailing 1-year period	1.71%	11.66%	-9.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.41%	11.66%	-9.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.68%	11.95%	-9.27%

SNDPX vs. MIY - Expense Ratio Comparison

SNDPX has a 0.47% expense ratio, which is lower than MIY's 2.25% expense ratio.

Dividends

SNDPX vs. MIY - Dividend Comparison

SNDPX's dividend yield for the trailing twelve months is around 3.10%, less than MIY's 5.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MIY BlackRock MuniYield Michigan Quality Fund	5.39%	5.57%	5.21%	3.86%	5.70%	4.38%	4.23%	4.27%	5.27%	5.46%	5.85%	5.66%
SNDPX AB Intermediate Diversified Municipal Portfolio	3.10%	2.69%	3.65%	1.77%	2.00%	1.78%	2.18%	2.56%	2.27%	1.90%	2.01%	2.06%

Frequently Asked Questions

Can I hold both SNDPX and MIY in my portfolio?

SNDPX and MIY have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNDPX or MIY?

MIY has higher volatility (1.99%) compared to SNDPX (0.74%). In terms of maximum drawdown, SNDPX dropped -9.57% vs MIY's -42.19%.

Which has better risk-adjusted returns?

SNDPX currently has the higher Sharpe Ratio (3.23 vs 1.12), 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.