TILL vs. ITM
TILL (Teucrium Agricultural Strategy No K-1 ETF) and ITM (VanEck Intermediate Muni ETF) are both exchange-traded funds - TILL is a Commodities fund actively managed by Teucrium, while ITM is a Municipal Bonds fund tracking the Bloomberg AMT-Free Intermediate Continuous. TILL is actively managed, while ITM is passively managed. Over the past 3 years, TILL returned -5.46%/yr vs 3.22%/yr for ITM. At a correlation of -0.02, they often move in opposite directions. TILL charges 0.89%/yr vs 0.24%/yr for ITM.
Performance
TILL vs. ITM - Performance Comparison
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Returns By Period
In the year-to-date period, TILL achieves a 9.18% return, which is significantly higher than ITM's 0.28% return.
TILL
- 1D
- -0.98%
- 1M
- 5.00%
- 6M
- 10.62%
- YTD
- 9.18%
- 1Y
- 4.09%
- 3Y*
- -5.46%
- 5Y*
- —
- 10Y*
- —
ITM
- 1D
- -0.15%
- 1M
- -0.31%
- 6M
- -0.30%
- YTD
- 0.28%
- 1Y
- 6.05%
- 3Y*
- 3.22%
- 5Y*
- 0.21%
- 10Y*
- 1.79%
TILL vs. ITM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TILL Teucrium Agricultural Strategy No K-1 ETF | 9.18% | -5.97% | -13.98% | -5.00% | -11.52% |
ITM VanEck Intermediate Muni ETF | 0.28% | 5.34% | 0.73% | 5.69% | 3.12% |
Correlation
The correlation between TILL and ITM is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since May 17, 2022 | -0.02 |
The correlation between TILL and ITM shifts across timeframes, from -0.20 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TILL vs. ITM — Risk / Return Rank
TILL
ITM
TILL vs. ITM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Agricultural Strategy No K-1 ETF (TILL) and VanEck Intermediate Muni ETF (ITM). 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.
| TILL | ITM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.52 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.45 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | 1.77 | -1.36 |
| Martin ratioReturn relative to average drawdown | 0.91 | 5.26 | -4.35 |
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Drawdowns
TILL vs. ITM - Drawdown Comparison
The maximum TILL drawdown since its inception was -33.76%, which is greater than ITM's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for TILL and ITM.
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Drawdown Indicators
| TILL | ITM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.76% | -24.75% | -9.01% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -3.43% | -6.44% |
Max Drawdown (3Y)Largest decline over 3 years | -29.46% | -5.68% | -23.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.75% | — |
Current DrawdownCurrent decline from peak | -26.73% | -1.65% | -25.08% |
Average DrawdownAverage peak-to-trough decline | -21.59% | -2.97% | -18.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.50% | 1.15% | +3.35% |
Volatility
TILL vs. ITM - Volatility Comparison
Teucrium Agricultural Strategy No K-1 ETF (TILL) has a higher volatility of 4.48% compared to VanEck Intermediate Muni ETF (ITM) at 0.60%. This indicates that TILL's price experiences larger fluctuations and is considered to be riskier than ITM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TILL | ITM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 0.60% | +3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 10.84% | 2.22% | +8.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.70% | 2.83% | +9.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.73% | 4.31% | +10.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.73% | 7.09% | +7.64% |
TILL vs. ITM - Expense Ratio Comparison
TILL has a 0.89% expense ratio, which is higher than ITM's 0.24% expense ratio.
Dividends
TILL vs. ITM - Dividend Comparison
TILL's dividend yield for the trailing twelve months is around 4.55%, more than ITM's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITM VanEck Intermediate Muni ETF | 2.98% | 2.86% | 2.73% | 2.40% | 1.92% | 1.70% | 2.13% | 2.44% | 2.33% | 2.21% | 2.29% | 2.28% |
TILL Teucrium Agricultural Strategy No K-1 ETF | 4.55% | 4.97% | 2.55% | 51.24% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TILL and ITM have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TILL has higher volatility (4.48%) compared to ITM (0.60%). In terms of maximum drawdown, TILL dropped -33.76% vs ITM's -24.75%.
On 3-year performance, ITM leads with 3.22% vs -5.46% for TILL. On fees, ITM is cheaper at 0.24% per year. On volatility, ITM has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ITM has performed better with a 3.22% return vs -5.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITM is cheaper with a 0.24% expense ratio, compared with 0.89% for TILL.
TILL has the higher dividend yield at 4.55%, compared with 2.98% for ITM.
TILL is categorized as Commodities, while ITM is Municipal Bonds. They also come from different issuers: Teucrium and VanEck. Their fees differ too: 0.89% for TILL and 0.24% for ITM.
ITM currently has the higher Sharpe Ratio (2.15 vs 0.32), 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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