MINO vs MUST
PIMCO Municipal Income Opportunities Active Exchange-Traded Fund vs Columbia Multi-Sector Municipal Income ETF
Which is better, MINO or MUST?
Nearly the same fund. MUST costs less.
MUST has a lower expense ratio. MINO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96.
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 | MINO | MUST |
|---|---|---|
| Expense Ratio | 0.39% | 0.23%Best |
| AUM | $850M | $509M |
| Dividend Yield | 4.17% | 3.59% |
| Holdings | 1,083 | 1,292 |
| YTD Return | -2.95%Best | -4.34% |
| 1Y Return | -2.10%Best | -2.87% |
| 3Y Return (annualized) | +3.99%Best | +2.83% |
| 5Y Return (annualized) | +0.59%Best | -0.37% |
| Volatility (annualized) | 6.8%Best | 7.0% |
| Max Drawdown | -15.2% | -13.5%Best |
| $10,000 over 5 years | $10,299Best | $9,816 |
| Fund Family | PIMCO (US) | Columbia Threadneedle Investments |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Sep 8, 2021 | Oct 10, 2018 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2021 to Oct 14, 2026 (5.1 years).
MINO 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 5.1 years both funds cover.
MINO vs MUST Performance
PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) is an ETF from PIMCO (US) and Columbia Multi-Sector Municipal Income ETF (MUST) is an ETF from Columbia Threadneedle Investments. Over the past year MINO returned -2.10% while MUST returned -2.87%. Year to date, MINO is down 2.95% versus a loss of 4.34% for MUST.
Over three years, MINO compounded at +3.99% per year against +2.83% for MUST; over five years the annualized figures are +0.59% and -0.37% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MUST has been the more volatile fund, with annualized monthly volatility of 7.0% compared with 6.8% for MINO. 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 -15.2% for MINO and -13.5% 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 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MINO charges 0.39% per year while MUST charges 0.23%. On a $10,000 position that is $39 vs $23 annually, a gap of $16 per year that compounds over a long holding period. On income, MINO currently yields 4.17% against 3.59% for MUST.
Holdings Overlap
We hold position weights for 226 holdings in MINO and 356 in MUST, totalling 33.7% and 52.2% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 22 positions appear in both.
22 positions in common, counted across the 226 positions we hold weights for in MINO and 356 in MUST, against full books of 1,083 and 1,292.
Top Shared Holdings
| Stock | Weight in MINO | Weight in MUST | Difference |
|---|---|---|---|
| TX AUSUTL 5 11/15/20Austin Tex Wtr & Wastewater Sys Rev 5% | 0.40% | 0.21% | 0.19% |
| IL CHITRN 5 01/01/20Chicago Ill O Hare Intl Arpt R 5% Jan 01, 2048 | 0.07% | 0.42% | 0.35% |
| CO COSMED 5 08/01/20Colorado (state Of) Health Facilities Authority (commonspirit Health), Series 2019 A-2, Rb | 0.26% | 0.22% | 0.04% |
| PA PASHGR 5.25 11/01Pennsylvania 5.25% 11/40 5.25%11/01/2040 | 0.21% | 0.27% | 0.06% |
| NY NYCUTL 5 06/15/20New York City Municipal Water Finance Authority 5 06/15/2051 | 0.27% | 0.13% | 0.14% |
| OH OHSDEV 5 07/01/20Ohio St Air Quality Dev Auth E 5.0000% Mat 07/01/2049 | 0.05% | 0.33% | 0.28% |
| MI MISFIN 4 02/15/20Michigan Fin Au(Mc) 4% 2/15/47 | 0.17% | 0.16% | 0.01% |
| FL MIATRN 5 10/01/20Miami-Dade Cnty Fla Aviation R 5% Oct 01, 2050 | 0.13% | 0.20% | 0.07% |
| IL ILSTRN 5 01/01/20Illinois (State Of) Toll Highway Authority, Series 2021 A, Rb | 0.17% | 0.12% | 0.05% |
| TX LWCGEN 05/15/2045Lower Colo Riv Auth Tex Rev 5% May 15, 2032 | 0.09% | 0.20% | 0.11% |
You are not choosing between two funds in isolation.
Whichever of MINO 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, MINO or MUST?
MINO has an expense ratio of 0.39% while MUST charges 0.23%. MUST is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, MINO or MUST?
Over the past year MINO returned -2.10% vs -2.87% for MUST, so MINO leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MINO or MUST?
MUST has been the more volatile fund at 7.0% annualized versus 6.8% for MINO. Worst drawdown: MINO -15.2% vs MUST -13.5%.
Should I hold both MINO and MUST?
MINO and MUST have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, MINO or MUST?
MINO yields 4.17% while MUST yields 3.59%, so MINO currently pays the higher dividend yield.
Is MUST better than MINO?
MUST has a lower expense ratio. MINO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. Which one suits a particular account depends on what it is for. This is information, not a recommendation.