MUST vs SCMB
Columbia Multi-Sector Municipal Income ETF vs Schwab Municipal Bond ETF
Which is better, MUST or SCMB?
Nearly the same fund. SCMB costs less.
SCMB has a lower expense ratio. MUST led over 3Y, SCMB over 1Y 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 | MUST | SCMB |
|---|---|---|
| Expense Ratio | 0.23% | 0.03%Best |
| AUM | $509M | $3.1B |
| Dividend Yield | 3.59% | 3.74% |
| Holdings | 1,292 | 7,278 |
| YTD Return | -4.34% | -3.06%Best |
| 1Y Return | -2.87% | -2.05%Best |
| 3Y Return (annualized) | +2.83%Best | +2.76% |
| 5Y Return (annualized) | -0.37% | - |
| Volatility (annualized) | 6.6% | 6.2%Best |
| Max Drawdown | -8.4% | -6.7%Best |
| $10,000 over 4 years | $11,017 | $11,042Best |
| Fund Family | Columbia Threadneedle Investments | Charles Schwab Investment Mangement |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Oct 10, 2018 | Oct 11, 2022 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Oct 12, 2022 to Oct 14, 2026 (4 years).
MUST vs SCMB 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 4 years both funds cover.
MUST vs SCMB Performance
Columbia Multi-Sector Municipal Income ETF (MUST) is an ETF from Columbia Threadneedle Investments and Schwab Municipal Bond ETF (SCMB) is an ETF from Charles Schwab Investment Mangement. Over the past year MUST returned -2.87% while SCMB returned -2.05%. Year to date, MUST is down 4.34% versus a loss of 3.06% for SCMB.
Over three years, MUST compounded at +2.83% per year against +2.76% for SCMB. Across the full 4-year window we track, SCMB has the edge at +2.51% annualized vs +2.45%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MUST has been the more volatile fund, with annualized monthly volatility of 6.6% compared with 6.2% for SCMB. 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 -8.4% for MUST and -6.7% for SCMB. 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
MUST charges 0.23% per year while SCMB charges 0.03%. On a $10,000 position that is $23 vs $3 annually, a gap of $20 per year that compounds over a long holding period. On income, MUST currently yields 3.59% against 3.74% for SCMB.
Holdings Overlap
We hold position weights for 356 holdings in MUST and 2,477 in SCMB, totalling 52.2% and 23.7% 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, 128 positions appear in both.
128 positions in common, counted across the 356 positions we hold weights for in MUST and 2,477 in SCMB, against full books of 1,292 and 7,278.
Top Shared Holdings
| Stock | Weight in MUST | Weight in SCMB | Difference |
|---|---|---|---|
| NY MTATRN 4 11/15/20Metropolitan Transportation Authority 4 11/15/2035 | 0.48% | 0.00% | 0.48% |
| OH OHSPOL 5 12/01/20Ohio Water Development Authority Water Pollution Control Loan Fund 5 12/01/2033 | 0.46% | 0.00% | 0.46% |
| IL CHITRN 5 01/01/20Illinois, Chicago O'Hare International Airport, General Airport Senior Lien Revenue Bonds, Series 20 | 0.42% | 0.00% | 0.42% |
| IA IASGEN 5 08/01/20Iowa Finance Authority, State Revolving Fund Revenue Bonds, Green Series 2024A 5 08/01/2034 | 0.42% | 0.00% | 0.42% |
| GA GWISCD 5 02/01/20Gwinnett County School District 5 2033-02-01 | 0.31% | 0.02% | 0.29% |
| FL PALEDU 5 08/01/20Palm Beach Cnty Fla Sch Brd Ct 5% Aug 01, 2038 | 0.30% | 0.00% | 0.30% |
| IL SPRPWR 5 03/01/20City Of Springfield Il Electric Revenue 5.00% 03/01/2039 | 0.30% | 0.00% | 0.30% |
| OH OHSWTR 5 06/01/20Ohio Water Development Authority 5.0% 06/01/2031 | 0.27% | 0.02% | 0.25% |
| AZ PHOAPT 5 07/01/20City Of Phoenix Civic Improvement Corp 5 07/01/2036 | 0.29% | 0.00% | 0.29% |
| FL BROEDU 5 07/01/20School District Of Broward County/Fl 5 07/01/2035 | 0.27% | 0.00% | 0.27% |
You are not choosing between two funds in isolation.
Whichever of MUST and SCMB 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, MUST or SCMB?
MUST has an expense ratio of 0.23% while SCMB charges 0.03%. SCMB is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, MUST or SCMB?
Over the past year MUST returned -2.87% vs -2.05% for SCMB, so SCMB leads on 1-year performance. Over the longest common window we track (4 years), MUST annualized +2.45% vs +2.51% for SCMB. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MUST or SCMB?
MUST has been the more volatile fund at 6.6% annualized versus 6.2% for SCMB. Worst drawdown: MUST -8.4% vs SCMB -6.7%.
Should I hold both MUST and SCMB?
MUST and SCMB 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, MUST or SCMB?
MUST yields 3.59% while SCMB yields 3.74%, so SCMB currently pays the higher dividend yield.
Is SCMB better than MUST?
SCMB has a lower expense ratio. MUST led over 3Y, SCMB over 1Y 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.