ZMUN vs. IBMT
ZMUN (F/m Ultrashort Tax-Free Municipal ETF) and IBMT (iShares iBonds Dec 2031 Term Muni Bond ETF) are both Municipal Bonds funds - ZMUN tracks the Bloomberg Municipal Bond Currently Callable Index while IBMT tracks the S&P AMT-Free Municipal Series Dec 2031 Index. Both are passively managed. Their 0.08 correlation means their historical movements had little consistent relationship. ZMUN charges 0.30%/yr vs 0.18%/yr for IBMT.
Performance
ZMUN vs. IBMT - Performance Comparison
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Returns By Period
In the year-to-date period, ZMUN achieves a 2.09% return, which is significantly higher than IBMT's 0.37% return.
ZMUN
- 1D
- 0.04%
- 1M
- 0.20%
- 6M
- 1.82%
- YTD
- 2.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
IBMT
- 1D
- -0.08%
- 1M
- -1.16%
- 6M
- -0.51%
- YTD
- 0.37%
- 1Y
- 3.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.12M | $1.36M | $1.09M | |
| $247.22K | $279.15K | $385.45K |
ZMUN vs. IBMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.09% | 0.67% |
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF | 0.37% | 1.07% |
Correlation
The correlation between ZMUN and IBMT is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025 | 0.08 |
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Return for Risk
ZMUN vs. IBMT — Risk / Return Rank
ZMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBMT
ZMUN vs. IBMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m Ultrashort Tax-Free Municipal ETF (ZMUN) and iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT). 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.
| ZMUN | IBMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.21 | — |
| Martin ratioReturn relative to average drawdown | — | 3.33 | — |
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Drawdowns
ZMUN vs. IBMT - Drawdown Comparison
The maximum ZMUN drawdown since its inception was -0.13%, smaller than the maximum IBMT drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for ZMUN and IBMT.
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Drawdown Indicators
| ZMUN | IBMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.13% | -3.18% | +3.05% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.10% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.47% | +1.47% |
Average DrawdownAverage peak-to-trough decline | -0.02% | -0.76% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.12% | — |
Volatility
ZMUN vs. IBMT - Volatility Comparison
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Volatility by Period
| ZMUN | IBMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.65% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.38% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.54% | 3.05% | -2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.54% | 3.84% | -3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.54% | 3.84% | -3.30% |
ZMUN vs. IBMT - Expense Ratio Comparison
ZMUN has a 0.30% expense ratio, which is higher than IBMT's 0.18% expense ratio.
Dividends
ZMUN vs. IBMT - Dividend Comparison
ZMUN's dividend yield for the trailing twelve months is around 2.92%, less than IBMT's 3.48% yield.
| Position | TTM | 2025 |
|---|---|---|
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF | 3.25% | 2.98% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.92% | 0.70% |
Frequently Asked Questions
ZMUN and IBMT have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBMT is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBMT is cheaper with a 0.18% expense ratio, compared with 0.30% for ZMUN.
IBMT has the higher dividend yield at 3.25%, compared with 2.92% for ZMUN.
ZMUN tracks Bloomberg Municipal Bond Currently Callable Index, while IBMT tracks S&P AMT-Free Municipal Series Dec 2031 Index. They also come from different issuers: F/m and iShares. Their fees differ too: 0.30% for ZMUN and 0.18% for IBMT.
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