STXAX vs. MISHX
Compare and contrast key facts about Western Asset Municipal High Income Fund (STXAX) and AB Municipal Income Shares (MISHX).
STXAX is managed by Franklin Templeton. It was launched on Nov 5, 1992. MISHX is managed by AllianceBernstein. It was launched on Aug 31, 2010.
Performance
STXAX vs. MISHX - Performance Comparison
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STXAX vs. MISHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
STXAX Western Asset Municipal High Income Fund | -0.56% | 4.23% | 3.41% | 7.63% | -11.29% | 3.36% | 3.77% | 8.18% | 1.08% | 6.82% |
MISHX AB Municipal Income Shares | -0.64% | 6.41% | 5.29% | 6.24% | -12.77% | 6.81% | 6.22% | 11.52% | 0.80% | 9.59% |
Returns By Period
In the year-to-date period, STXAX achieves a -0.56% return, which is significantly higher than MISHX's -0.64% return. Over the past 10 years, STXAX has underperformed MISHX with an annualized return of 2.40%, while MISHX has yielded a comparatively higher 3.64% annualized return.
STXAX
- 1D
- 0.24%
- 1M
- -2.84%
- YTD
- -0.56%
- 6M
- 0.88%
- 1Y
- 3.24%
- 3Y*
- 3.93%
- 5Y*
- 1.10%
- 10Y*
- 2.40%
MISHX
- 1D
- 0.27%
- 1M
- -2.83%
- YTD
- -0.64%
- 6M
- 0.75%
- 1Y
- 4.02%
- 3Y*
- 4.79%
- 5Y*
- 1.66%
- 10Y*
- 3.64%
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STXAX vs. MISHX - Expense Ratio Comparison
STXAX has a 0.83% expense ratio, which is higher than MISHX's 0.00% expense ratio.
Return for Risk
STXAX vs. MISHX — Risk / Return Rank
STXAX
MISHX
STXAX vs. MISHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Municipal High Income Fund (STXAX) and AB Municipal Income Shares (MISHX). 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.
| STXAX | MISHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.68 | 0.89 | -0.21 |
Sortino ratioReturn per unit of downside risk | 0.93 | 1.22 | -0.29 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.73 | 1.00 | -0.27 |
Martin ratioReturn relative to average drawdown | 2.07 | 3.25 | -1.18 |
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
| STXAX | MISHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 0.89 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.34 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.71 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 0.90 | +0.17 |
Correlation
The correlation between STXAX and MISHX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
STXAX vs. MISHX - Dividend Comparison
STXAX's dividend yield for the trailing twelve months is around 3.88%, less than MISHX's 4.85% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
STXAX Western Asset Municipal High Income Fund | 3.88% | 4.77% | 3.83% | 3.56% | 2.97% | 2.47% | 3.32% | 4.41% | 4.30% | 4.30% | 4.11% | 4.44% |
MISHX AB Municipal Income Shares | 4.85% | 6.23% | 4.80% | 3.23% | 3.75% | 2.77% | 3.56% | 3.98% | 3.77% | 3.78% | 4.25% | 4.38% |
Drawdowns
STXAX vs. MISHX - Drawdown Comparison
The maximum STXAX drawdown since its inception was -22.48%, which is greater than MISHX's maximum drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for STXAX and MISHX.
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Drawdown Indicators
| STXAX | MISHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.48% | -19.03% | -3.45% |
Max Drawdown (1Y)Largest decline over 1 year | -6.11% | -5.34% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -16.46% | -18.20% | +1.74% |
Max Drawdown (10Y)Largest decline over 10 years | -16.46% | -19.03% | +2.57% |
Current DrawdownCurrent decline from peak | -2.84% | -2.83% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -3.44% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 1.65% | +0.51% |
Volatility
STXAX vs. MISHX - Volatility Comparison
Western Asset Municipal High Income Fund (STXAX) has a higher volatility of 1.34% compared to AB Municipal Income Shares (MISHX) at 1.22%. This indicates that STXAX's price experiences larger fluctuations and is considered to be riskier than MISHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STXAX | MISHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 1.22% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.00% | 1.99% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.14% | 5.64% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.70% | 4.95% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 5.17% | -0.55% |