FMB vs USA

Comparison between FIRST TRUST MANAGED MUNICIPAL ETF (FMB, ETF) and Liberty All-Star Equity Fund (USA, ETF).

5-Year PerformanceUSA has outperformed FMB, delivering a return of +1.5% compared to +0.6%

FMB vs USA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FMB(ETF)	USA(ETF)
Net Assets	$2B	$2B
Expense Ratio	0.39%	N/A
Max Drawdown	16.84%	82.89%
Sharpe Ratio	1.13	-0.60
5Y Beta	0.02	0.79
5Y Dividends CAGR	8.25%	5.01%

Net Assets

FMB

$2B

USA

$2B

Expense Ratio

FMB

0.39%

USA

N/A

Max Drawdown

Winner

FMB

16.84%

USA

82.89%

Sharpe Ratio

Winner

FMB

1.13

USA

-0.60

5Y Beta

Winner

FMB

0.02

USA

0.79

5Y Dividends CAGR

Winner

FMB

8.25%

USA

5.01%

FMB vs USA - Historical Returns

Returns include dividend reinvestment.

Period	FMB	USA
1 month	+0.65%	+0.17%
3 months	+1.02%	+3.69%
6 months	+2.21%	-1.60%
1 year	+6.60%	-4.91%
5 years(CAGR)	+0.63%	+1.46%
10 years(CAGR)	+2.27%	+12.19%
Max(CAGR)	+2.96%	+6.60%

Winner

FMB

+0.65%

USA

+0.17%

FMB

+1.02%

Winner

USA

+3.69%

Winner

FMB

+2.21%

USA

-1.60%

Winner

FMB

+6.60%

USA

-4.91%

5Y(CAGR)

FMB

+0.63%

Winner

USA

+1.46%

10Y(CAGR)

FMB

+2.27%

Winner

USA

+12.19%

Max(CAGR)

FMB

+2.96%

Winner

USA

+6.60%

FMB vs USA - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	FMB	USA
2026	+1.67%	-3.48%
2025	+3.55%	-0.65%
2024	+2.11%	+22.04%
2023	+6.09%	+21.13%
2022	-9.81%	-25.15%
2021	+2.41%	+37.60%
2020	+4.36%	+11.48%
2019	+8.01%	+39.77%
2018	+1.23%	-4.91%
2017	+7.24%	+32.32%
2016	+1.40%	+8.93%
2015	+4.50%	-2.04%
2014	+4.26%	+9.24%
2013	N/A	+28.69%
2012	N/A	+18.32%
2011	N/A	-8.62%
2010	N/A	+19.75%
2009	N/A	+30.27%
2008	N/A	-43.42%
2007	N/A	-5.19%
2006	N/A	+10.28%
2005	N/A	-5.71%
2004	N/A	+10.37%
2003	N/A	+50.09%
2002	N/A	-35.15%
2001	N/A	-2.94%
2000	N/A	+17.03%
1999	N/A	-7.83%

FMB vs USA Drawdown Comparison

The maximum drawdown for FMB was -14.16%, occurring on Oct 26, 2022. Recovery took 1067 trading sessions.

The maximum drawdown for USA was -69.18%, occurring on Mar 9, 2009. Recovery took 1522 trading sessions.

The current FMB drawdown is -0.49%. The current USA drawdown is -8.68%.

Rank	FMB	USA
#1	-14.16% Jul 19, 2021 - Oct 16, 2025	-69.18% Jul 13, 2007 - Jul 30, 2013
#2	-13.92% Mar 6, 2020 - Dec 3, 2020	-50.47% May 21, 2001 - Mar 5, 2004
#3	-6.01% Sep 7, 2016 - Jun 6, 2017	-47.07% Feb 12, 2020 - Nov 17, 2020
#4	-2.73% Feb 27, 2026 - Mar 26, 2026	-33.98% Oct 11, 2021 - Jul 12, 2024
#5	-2.10% Feb 10, 2021 - May 25, 2021	-25.78% Sep 27, 2018 - Jun 18, 2019
#6	-2.01% Aug 15, 2018 - Dec 7, 2018	-21.83% May 14, 2015 - Dec 7, 2016
#7	-2.00% Apr 14, 2015 - Oct 7, 2015	-20.11% Nov 5, 1999 - Jun 16, 2000
#8	-1.96% Dec 6, 2017 - Jul 13, 2018	-18.49% Apr 5, 2004 - Feb 14, 2005
#9	-1.59% Jan 28, 2015 - Mar 19, 2015	-17.97% Aug 2, 2005 - Dec 20, 2006
#10	-1.51% Oct 30, 2014 - Dec 12, 2014	-17.69% Jan 28, 2025 - Apr 7, 2025
#11	-1.48% Sep 3, 2019 - Oct 8, 2019	-10.82% Jan 31, 2001 - May 1, 2001
#12	-1.34% Oct 8, 2019 - Jan 3, 2020	-10.47% Aug 27, 2014 - Nov 18, 2014
#13	-1.20% May 16, 2014 - Jun 26, 2014	-10.41% Apr 21, 2021 - Jun 1, 2021
#14	-1.16% Jun 26, 2014 - Jul 28, 2014	-10.03% Jan 26, 2018 - Jun 6, 2018
#15	-1.05% Feb 19, 2016 - Apr 4, 2016	-9.02% Feb 16, 2005 - Jul 26, 2005

Correlation

Correlation between FMB and USA is 0.90 which considered as a strong positive correlation - the stocks tend to move together.

0.90

-101

Dividend Comparison (2000 - 2026)

FMB vs USA dividend yield comparison.

Year	FMB	USA
2026	1.51%	5.75%
2025	3.37%	10.67%
2024	3.22%	10.22%
2023	2.98%	9.56%
2022	2.47%	12.11%
2021	1.96%	9.67%
2020	2.19%	9.13%
2019	2.47%	9.75%
2018	2.58%	12.64%
2017	2.49%	8.89%
2016	2.93%	9.30%
2015	3.07%	9.53%
2014	1.70%	6.52%
2013	0.00%	5.86%
2012	0.00%	6.71%
2011	0.00%	8.06%
2010	0.00%	6.29%
2009	0.00%	7.16%
2008	0.00%	18.57%
2007	0.00%	12.77%
2006	0.00%	10.62%
2005	0.00%	9.54%
2004	0.00%	9.31%
2003	0.00%	8.25%
2002	0.00%	13.25%
2001	0.00%	10.82%
2000	0.00%	5.90%