UTHY vs. MUB
UTHY (US Treasury 30 Year Bond ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both exchange-traded funds - UTHY is a Government Bonds fund tracking the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross, while MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 3 years, UTHY returned -1.74%/yr vs 3.35%/yr for MUB. A 0.80 correlation means they provide meaningful diversification when combined. UTHY charges 0.15%/yr vs 0.07%/yr for MUB.
Performance
UTHY vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, UTHY achieves a 0.07% return, which is significantly lower than MUB's 1.28% return.
UTHY
- 1D
- -0.30%
- 1M
- 1.48%
- YTD
- 0.07%
- 6M
- 0.39%
- 1Y
- 2.42%
- 3Y*
- -1.74%
- 5Y*
- —
- 10Y*
- —
MUB
- 1D
- -0.01%
- 1M
- 0.65%
- YTD
- 1.28%
- 6M
- 1.80%
- 1Y
- 6.17%
- 3Y*
- 3.35%
- 5Y*
- 0.80%
- 10Y*
- 1.92%
UTHY vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UTHY US Treasury 30 Year Bond ETF | 0.07% | 3.47% | -8.07% | -2.77% |
MUB iShares National AMT-Free Muni Bond ETF | 1.28% | 3.78% | 1.26% | 3.59% |
Correlation
The correlation between UTHY and MUB is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.80 |
The correlation between UTHY and MUB shifts across timeframes, from 0.68 (1 year) to 0.80 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
UTHY vs. MUB — Risk / Return Rank
UTHY
MUB
UTHY vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 30 Year Bond ETF (UTHY) 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.
| UTHY | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.68 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.44 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 2.22 | -1.89 |
| Martin ratioReturn relative to average drawdown | 0.81 | 7.77 | -6.96 |
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Drawdowns
UTHY vs. MUB - Drawdown Comparison
The maximum UTHY drawdown since its inception was -21.86%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for UTHY and MUB.
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Drawdown Indicators
| UTHY | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.86% | -13.68% | -8.18% |
Max Drawdown (1Y)Largest decline over 1 year | -7.34% | -2.79% | -4.55% |
Max Drawdown (3Y)Largest decline over 3 years | -18.58% | -5.34% | -13.24% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -11.07% | -0.66% | -10.41% |
Average DrawdownAverage peak-to-trough decline | -10.71% | -2.23% | -8.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 0.80% | +2.20% |
Volatility
UTHY vs. MUB - Volatility Comparison
US Treasury 30 Year Bond ETF (UTHY) has a higher volatility of 2.79% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 1.01%. This indicates that UTHY'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
| UTHY | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.79% | 1.01% | +1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 6.36% | 2.25% | +4.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.33% | 2.90% | +6.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.62% | 4.06% | +9.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.62% | 4.92% | +8.70% |
UTHY vs. MUB - Expense Ratio Comparison
UTHY has a 0.15% 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
UTHY vs. MUB - Dividend Comparison
UTHY's dividend yield for the trailing twelve months is around 4.62%, more than MUB's 3.17% yield.
| 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% |
UTHY US Treasury 30 Year Bond ETF | 4.62% | 4.53% | 4.58% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UTHY and MUB have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTHY has higher volatility (2.79%) compared to MUB (1.01%). In terms of maximum drawdown, UTHY dropped -21.86% vs MUB's -13.68%.
On 3-year performance, MUB leads with 3.35% vs -1.74% for UTHY. On fees, MUB is cheaper at 0.07% per year. On volatility, MUB has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MUB has performed better with a 3.35% return vs -1.74%. 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 0.15% for UTHY.
UTHY has the higher dividend yield at 4.62%, compared with 3.17% for MUB.
UTHY is categorized as Government Bonds, while MUB is Municipal Bonds. UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross, while MUB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: US Benchmark Series and iShares. Their fees differ too: 0.15% for UTHY and 0.07% for MUB.
MUB currently has the higher Sharpe Ratio (2.16 vs 0.26), 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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