ZMUN vs. MFSM
ZMUN (F/m Ultrashort Tax-Free Municipal ETF) and MFSM (MFS Active Intermediate Muni Bond ETF) are both Municipal Bonds funds. ZMUN is passively managed, while MFSM is actively managed. Their 0.20 correlation means their historical movements had little consistent relationship. ZMUN charges 0.30%/yr vs 0.34%/yr for MFSM.
Performance
ZMUN vs. MFSM - 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 MFSM's 0.59% return.
ZMUN
- 1D
- 0.04%
- 1M
- 0.20%
- 6M
- 1.82%
- YTD
- 2.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
MFSM
- 1D
- -0.20%
- 1M
- -1.75%
- 6M
- -0.22%
- YTD
- 0.59%
- 1Y
- 4.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $434.35K | $408.74K | $440.79K | |
| $247.22K | $279.15K | $385.45K |
ZMUN vs. MFSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.09% | 0.67% |
MFSM MFS Active Intermediate Muni Bond ETF | 0.59% | 1.73% |
Correlation
The correlation between ZMUN and MFSM is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025 | 0.20 |
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Return for Risk
ZMUN vs. MFSM — Risk / Return Rank
ZMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MFSM
ZMUN vs. MFSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m Ultrashort Tax-Free Municipal ETF (ZMUN) and MFS Active Intermediate Muni Bond ETF (MFSM). 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 | MFSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.40 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.98 | — |
| Martin ratioReturn relative to average drawdown | — | 6.64 | — |
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Drawdowns
ZMUN vs. MFSM - Drawdown Comparison
The maximum ZMUN drawdown since its inception was -0.13%, smaller than the maximum MFSM drawdown of -3.86%. Use the drawdown chart below to compare losses from any high point for ZMUN and MFSM.
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Drawdown Indicators
| ZMUN | MFSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.13% | -3.86% | +3.73% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.65% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.89% | +1.89% |
Average DrawdownAverage peak-to-trough decline | -0.02% | -0.86% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.79% | — |
Volatility
ZMUN vs. MFSM - Volatility Comparison
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Volatility by Period
| ZMUN | MFSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.88% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.54% | 2.70% | -2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.54% | 3.38% | -2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.54% | 3.38% | -2.84% |
ZMUN vs. MFSM - Expense Ratio Comparison
ZMUN has a 0.30% expense ratio, which is lower than MFSM's 0.34% expense ratio.
Dividends
ZMUN vs. MFSM - Dividend Comparison
ZMUN's dividend yield for the trailing twelve months is around 2.92%, less than MFSM's 3.62% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MFSM MFS Active Intermediate Muni Bond ETF | 3.62% | 3.53% | 0.23% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.92% | 0.70% | 0.00% |
Frequently Asked Questions
ZMUN and MFSM 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.
On fees, ZMUN is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMUN is cheaper with a 0.30% expense ratio, compared with 0.34% for MFSM.
MFSM has the higher dividend yield at 3.62%, compared with 2.92% for ZMUN.
They also come from different issuers: F/m and MFS. Their fees differ too: 0.30% for ZMUN and 0.34% for MFSM.
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