XDIV vs. MUNI

Last updated Jun 4, 2026

XDIV (Roundhill S&P 500 No Dividend Target ETF) and MUNI (PIMCO Intermediate Municipal Bond Active ETF) are both exchange-traded funds - XDIV is a S&P 500 fund actively managed by Roundhill, while MUNI is a Municipal Bonds fund actively managed by PIMCO. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. XDIV charges 0.09%/yr vs 0.35%/yr for MUNI.

Performance

XDIV vs. MUNI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 No Dividend Target ETF (XDIV) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDIV achieves a 10.63% return, which is significantly higher than MUNI's 1.24% return.

XDIV

• 1D: -0.67%
• 1M: 5.14%
• YTD: 10.63%
• 6M: 10.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUNI

• 1D: -0.04%
• 1M: 0.42%
• YTD: 1.24%
• 6M: 1.44%
• 1Y: 6.52%
• 3Y*: 3.96%
• 5Y*: 1.27%
• 10Y*: 2.16%

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

XDIV vs. MUNI - Yearly Performance Comparison

	2026 (YTD)	2025
XDIV Roundhill S&P 500 No Dividend Target ETF	10.63%	9.90%
MUNI PIMCO Intermediate Municipal Bond Active ETF	1.24%	3.91%

Correlation

The correlation between XDIV and MUNI is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 11, 2025	0.23

Return for Risk

XDIV vs. MUNI — Risk / Return Rank

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

MUNI

MUNI Risk / Return Rank: 76
MUNI Sharpe Ratio Rank: 86
MUNI Sortino Ratio Rank: 91
MUNI Omega Ratio Rank: 93
MUNI Calmar Ratio Rank: 57
MUNI Martin Ratio Rank: 54

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.

XDIV vs. MUNI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 No Dividend Target ETF (XDIV) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). 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.

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

Sharpe Ratios by Period

	XDIV	MUNI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.89	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.38	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.98	0.78	+1.20

Drawdowns

XDIV vs. MUNI - Drawdown Comparison

The maximum XDIV drawdown since its inception was -9.16%, smaller than the maximum MUNI drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for XDIV and MUNI.

Drawdown Indicators

	XDIV	MUNI	Difference
Max Drawdown Largest peak-to-trough decline	-9.16%	-11.15%	+1.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.09%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-11.15%	—
Current Drawdown Current decline from peak	-0.67%	-0.79%	+0.12%
Average Drawdown Average peak-to-trough decline	-1.20%	-1.73%	+0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.70%	—

Volatility

Volatility by Period

	XDIV	MUNI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.77%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.60%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	2.27%	+10.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.31%	3.31%	+9.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.31%	3.85%	+8.46%

XDIV vs. MUNI - Expense Ratio Comparison

XDIV has a 0.09% expense ratio, which is lower than MUNI's 0.35% expense ratio.

Dividends

XDIV vs. MUNI - Dividend Comparison

XDIV has not paid dividends to shareholders, while MUNI's dividend yield for the trailing twelve months is around 3.29%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MUNI PIMCO Intermediate Municipal Bond Active ETF	3.29%	3.26%	3.50%	3.09%	2.13%	1.62%	1.92%	2.44%	2.38%	2.37%	2.37%	2.20%
XDIV Roundhill S&P 500 No Dividend Target ETF	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

Can I hold both XDIV and MUNI in my portfolio?

XDIV and MUNI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDIV or MUNI?

On fees, XDIV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDIV or MUNI?

XDIV is cheaper with a 0.09% expense ratio, compared with 0.35% for MUNI.

Which ETF pays a higher dividend yield, XDIV or MUNI?

MUNI has the higher dividend yield at 3.29%, compared with 0.00% for XDIV.

What is the main difference between XDIV and MUNI?

XDIV is categorized as S&P 500, while MUNI is Municipal Bonds. They also come from different issuers: Roundhill and PIMCO. Their fees differ too: 0.09% for XDIV and 0.35% for MUNI.