TAGS vs. MUB
TAGS (Teucrium Agricultural Fund) and MUB (iShares National AMT-Free Muni Bond ETF) are both exchange-traded funds - TAGS is a Agricultural Commodities fund tracking the Teucrium TAGS Index, while MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 10 years, TAGS returned -1.83%/yr vs 1.90%/yr for MUB. At a correlation of -0.03, they often move in opposite directions. TAGS charges 0.21%/yr vs 0.07%/yr for MUB.
Performance
TAGS vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, TAGS achieves a 3.75% return, which is significantly higher than MUB's 1.53% return. Over the past 10 years, TAGS has underperformed MUB with an annualized return of -1.83%, while MUB has yielded a comparatively higher 1.90% annualized return.
TAGS
- 1D
- -0.25%
- 1M
- -6.05%
- YTD
- 3.75%
- 6M
- 3.20%
- 1Y
- -4.97%
- 3Y*
- -10.09%
- 5Y*
- -0.79%
- 10Y*
- -1.83%
MUB
- 1D
- -0.01%
- 1M
- 1.35%
- YTD
- 1.53%
- 6M
- 1.89%
- 1Y
- 6.58%
- 3Y*
- 3.21%
- 5Y*
- 0.96%
- 10Y*
- 1.90%
TAGS vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TAGS Teucrium Agricultural Fund | 3.75% | -8.76% | -14.57% | -6.11% | 16.25% | 27.05% | 8.19% | -4.53% | -7.10% | -13.94% |
MUB iShares National AMT-Free Muni Bond ETF | 1.53% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
Correlation
The correlation between TAGS and MUB is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2012 | -0.03 |
The correlation between TAGS and MUB shifts across timeframes, from -0.22 (1 year) to -0.02 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
TAGS vs. MUB — Risk / Return Rank
TAGS
MUB
TAGS vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Agricultural Fund (TAGS) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| TAGS | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.69 | ||
| Sortino ratioReturn per unit of downside risk | -3.82 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.48 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 2.37 | -2.91 |
| Martin ratioReturn relative to average drawdown | -0.96 | 8.25 | -9.21 |
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Drawdowns
TAGS vs. MUB - Drawdown Comparison
The maximum TAGS drawdown since its inception was -76.40%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for TAGS and MUB.
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Drawdown Indicators
| TAGS | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.40% | -13.68% | -62.72% |
Max Drawdown (1Y)Largest decline over 1 year | -9.30% | -2.79% | -6.51% |
Max Drawdown (3Y)Largest decline over 3 years | -32.73% | -5.34% | -27.39% |
Max Drawdown (5Y)Largest decline over 5 years | -37.60% | -11.88% | -25.72% |
Max Drawdown (10Y)Largest decline over 10 years | -44.72% | -13.68% | -31.04% |
Current DrawdownCurrent decline from peak | -64.50% | -0.41% | -64.09% |
Average DrawdownAverage peak-to-trough decline | -57.23% | -2.23% | -55.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.99% | 0.80% | +5.19% |
Volatility
TAGS vs. MUB - Volatility Comparison
Teucrium Agricultural Fund (TAGS) has a higher volatility of 3.30% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.76%. This indicates that TAGS's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAGS | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 0.76% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 10.31% | 2.27% | +8.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.70% | 2.89% | +9.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.33% | 4.07% | +12.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.00% | 4.93% | +13.07% |
TAGS vs. MUB - Expense Ratio Comparison
TAGS has a 0.21% expense ratio, which is higher than MUB's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TAGS vs. MUB - Dividend Comparison
TAGS has not paid dividends to shareholders, while MUB's dividend yield for the trailing twelve months is around 3.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
TAGS Teucrium Agricultural Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAGS and MUB have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TAGS has higher volatility (3.30%) compared to MUB (0.76%). In terms of maximum drawdown, TAGS dropped -76.40% vs MUB's -13.68%.
On 10-year performance, MUB leads with 1.90% vs -1.83% for TAGS. On fees, MUB is cheaper at 0.07% per year. On volatility, MUB has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MUB has performed better with a 1.90% return vs -1.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUB is cheaper with a 0.07% expense ratio, compared with 0.21% for TAGS.
MUB has the higher dividend yield at 3.17%, compared with 0.00% for TAGS.
TAGS is categorized as Agricultural Commodities, while MUB is Municipal Bonds. TAGS tracks Teucrium TAGS Index, while MUB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: Teucrium and iShares. Their fees differ too: 0.21% for TAGS and 0.07% for MUB.
MUB currently has the higher Sharpe Ratio (2.29 vs -0.39), 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.
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