MFLX vs MUST
First Trust Flexible Municipal High Income ETF vs Columbia Multi-Sector Municipal Income ETF
Which is better, MFLX or MUST?
Each has led over a different period.
MUST has a lower expense ratio. MFLX led over 1Y, 3Y and the full window, MUST over 5Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MFLX | MUST |
|---|---|---|
| Expense Ratio | 0.93% | 0.23%Best |
| AUM | $20M | $509M |
| Dividend Yield | 4.51% | 3.59% |
| Holdings | 160 | 1,292 |
| YTD Return | -3.07%Best | -4.34% |
| 1Y Return | -2.70%Best | -2.87% |
| 3Y Return (annualized) | +4.24%Best | +2.83% |
| 5Y Return (annualized) | -1.53% | -0.37%Best |
| Volatility (annualized) | 9.0% | 6.2%Best |
| Max Drawdown | -26.9% | -13.8%Best |
| $10,000 over 5 years | $9,258 | $9,816Best |
| Fund Family | First Trust Portfolios (US) | Columbia Threadneedle Investments |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Sep 27, 2016 | Oct 10, 2018 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 10, 2018 to Oct 14, 2026 (8 years).
MFLX vs MUST growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8 years both funds cover.
MFLX vs MUST Performance
First Trust Flexible Municipal High Income ETF (MFLX) is an ETF from First Trust Portfolios (US) and Columbia Multi-Sector Municipal Income ETF (MUST) is an ETF from Columbia Threadneedle Investments. Over the past year MFLX returned -2.70% while MUST returned -2.87%. Year to date, MFLX is down 3.07% versus a loss of 4.34% for MUST.
Over three years, MFLX compounded at +4.24% per year against +2.83% for MUST; over five years the annualized figures are -1.53% and -0.37% respectively. Across the full 8-year window we track, MFLX has the edge at +1.85% annualized vs +1.36%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MFLX has been the more volatile fund, with annualized monthly volatility of 9.0% compared with 6.2% for MUST. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -26.9% for MFLX and -13.8% for MUST. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MFLX charges 0.93% per year while MUST charges 0.23%. On a $10,000 position that is $93 vs $23 annually, a gap of $70 per year that compounds over a long holding period. On income, MFLX currently yields 4.51% against 3.59% for MUST.
Holdings Overlap
We hold position weights for 1 holding in MFLX and 356 in MUST, totalling 0.5% and 52.2% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in MFLX and 356 in MUST, against full books of 160 and 1,292.
You are not choosing between two funds in isolation.
Whichever of MFLX and MUST you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MFLX or MUST?
MFLX has an expense ratio of 0.93% while MUST charges 0.23%. MUST is the cheaper option, by $70 a year on a $10,000 investment.
Which performed better, MFLX or MUST?
Over the past year MFLX returned -2.70% vs -2.87% for MUST, so MFLX leads on 1-year performance. Over the longest common window we track (8 years), MFLX annualized +1.85% vs +1.36% for MUST. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MFLX or MUST?
MFLX has been the more volatile fund at 9.0% annualized versus 6.2% for MUST. Worst drawdown: MFLX -26.9% vs MUST -13.8%.
Should I hold both MFLX and MUST?
MFLX and MUST have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, MFLX or MUST?
MFLX yields 4.51% while MUST yields 3.59%, so MFLX currently pays the higher dividend yield.
Is MUST better than MFLX?
MUST has a lower expense ratio. MFLX led over 1Y, 3Y and the full window, MUST over 5Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.