TMB vs. MUSI

Last updated Jun 24, 2026

TMB (Thornburg Multi Sector Bond ETF) and MUSI (American Century Multisector Income ETF) are both Multisector Bonds funds. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. TMB charges 0.55%/yr vs 0.36%/yr for MUSI.

Performance

TMB vs. MUSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thornburg Multi Sector Bond ETF (TMB) and American Century Multisector Income ETF (MUSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TMB

• 1D: 0.30%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUSI

• 1D: 0.09%
• 1M: 0.59%
• YTD: 0.85%
• 6M: 1.07%
• 1Y: 5.33%
• 3Y*: 6.54%
• 5Y*: —
• 10Y*: —

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

TMB vs. MUSI - Yearly Performance Comparison

	2026 (YTD)
TMB Thornburg Multi Sector Bond ETF	0.52%
MUSI American Century Multisector Income ETF	0.59%

Correlation

The correlation between TMB and MUSI is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.81

Return for Risk

TMB vs. MUSI — Risk / Return Rank

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

TMB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MUSI

MUSI Risk / Return Rank: 47
MUSI Sharpe Ratio Rank: 49
MUSI Sortino Ratio Rank: 53
MUSI Omega Ratio Rank: 50
MUSI Calmar Ratio Rank: 42
MUSI Martin Ratio Rank: 43

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.

TMB vs. MUSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg Multi Sector Bond ETF (TMB) and American Century Multisector Income ETF (MUSI). 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.

	TMB	MUSI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.59	—
Sortino ratio: Return per unit of downside risk	—	2.38	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	1.92	—
Martin ratio: Return relative to average drawdown	—	6.63	—

Drawdowns

TMB vs. MUSI - Drawdown Comparison

The maximum TMB drawdown since its inception was -0.59%, smaller than the maximum MUSI drawdown of -13.91%. Use the drawdown chart below to compare losses from any high point for TMB and MUSI.

Drawdown Indicators

	TMB	MUSI	Difference
Max Drawdown Largest peak-to-trough decline	-0.59%	-13.91%	+13.32%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.78%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.16%	—
Current Drawdown Current decline from peak	-0.29%	-0.89%	+0.60%
Average Drawdown Average peak-to-trough decline	-0.17%	-4.18%	+4.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.81%	—

Volatility

Volatility by Period

	TMB	MUSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	3.37%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.58%	4.84%	-1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.58%	4.84%	-1.26%

TMB vs. MUSI - Expense Ratio Comparison

TMB has a 0.55% expense ratio, which is higher than MUSI's 0.36% expense ratio.

Dividends

TMB vs. MUSI - Dividend Comparison

TMB's dividend yield for the trailing twelve months is around 0.36%, less than MUSI's 5.53% yield.

Position	TTM	2025	2024	2023	2022	2021
MUSI American Century Multisector Income ETF	5.53%	5.74%	6.00%	5.20%	4.02%	1.62%
TMB Thornburg Multi Sector Bond ETF	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMB and MUSI in my portfolio?

TMB and MUSI have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMB or MUSI?

On fees, MUSI is cheaper at 0.36% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMB or MUSI?

MUSI is cheaper with a 0.36% expense ratio, compared with 0.55% for TMB.

Which ETF pays a higher dividend yield, TMB or MUSI?

MUSI has the higher dividend yield at 5.53%, compared with 0.36% for TMB.

What is the main difference between TMB and MUSI?

They also come from different issuers: Thornburg and American Century. Their fees differ too: 0.55% for TMB and 0.36% for MUSI.