FMB vs USTB

Comparison between FIRST TRUST MANAGED MUNICIPAL ETF (FMB, ETF) and VICTORYSHARES SHORT-TERM BOND ETF FORMERLY VICTORYSHARES USAA CORE SHORT-TERM BOND ETF VICTORYSHARES SHORT-TERM BOND ETF (USTB, ETF).

5-Year PerformanceUSTB has outperformed FMB, delivering a return of +3.5% compared to +0.8%

FMB vs USTB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FMB(ETF)	USTB(ETF)
Net Assets	$2B	$2B
Expense Ratio	0.39%	0.34%
Max Drawdown	16.84%	7.56%
Sharpe Ratio	0.92	0.98
5Y Beta	0.02	0.01
5Y Dividends CAGR	7.87%	15.32%

Net Assets

FMB

$2B

USTB

$2B

Expense Ratio

FMB

0.39%

Winner

USTB

0.34%

Max Drawdown

FMB

16.84%

Winner

USTB

7.56%

Sharpe Ratio

FMB

0.92

Winner

USTB

0.98

5Y Beta

FMB

0.02

Winner

USTB

0.01

5Y Dividends CAGR

FMB

7.87%

Winner

USTB

15.32%

FMB vs USTB - Historical Returns

Returns include dividend reinvestment.

Period	FMB	USTB
1 month	+0.50%	+0.50%
3 months	-0.04%	+0.54%
6 months	+1.70%	+1.81%
1 year	+6.45%	+5.06%
5 years(CAGR)	+0.76%	+3.50%
10 years(CAGR)	+2.31%	+3.47%
Max(CAGR)	+2.95%	+3.47%

FMB

+0.50%

Winner

USTB

+0.50%

FMB

-0.04%

Winner

USTB

+0.54%

FMB

+1.70%

Winner

USTB

+1.81%

Winner

FMB

+6.45%

USTB

+5.06%

5Y(CAGR)

FMB

+0.76%

Winner

USTB

+3.50%

10Y(CAGR)

FMB

+2.31%

Winner

USTB

+3.47%

Max(CAGR)

FMB

+2.95%

Winner

USTB

+3.47%

FMB vs USTB - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

Year	FMB	USTB
2026	+1.20%	+1.07%
2025	+3.55%	+6.13%
2024	+2.11%	+6.81%
2023	+6.09%	+6.57%
2022	-9.81%	-2.72%
2021	+2.41%	+0.89%
2020	+4.36%	+5.00%
2019	+8.01%	+4.99%
2018	+1.23%	+1.12%
2017	+7.24%	+0.35%
2016	+1.40%	N/A
2015	+4.50%	N/A
2014	+4.26%	N/A

FMB vs USTB Drawdown Comparison

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

The maximum drawdown for USTB was -5.32%, occurring on Mar 24, 2020. Recovery took 65 trading sessions.

The current FMB drawdown is -0.96%.

Rank	FMB	USTB
#1	-14.16% Jul 19, 2021 - Oct 16, 2025	-5.32% Mar 4, 2020 - Jun 5, 2020
#2	-13.92% Mar 6, 2020 - Dec 3, 2020	-4.96% Sep 9, 2021 - Jul 13, 2023
#3	-6.01% Sep 7, 2016 - Jun 6, 2017	-1.02% Aug 30, 2023 - Nov 3, 2023
#4	-2.73% Feb 27, 2026 - Mar 26, 2026	-0.84% Feb 27, 2026 - May 1, 2026
#5	-2.10% Feb 10, 2021 - May 25, 2021	-0.81% Dec 29, 2017 - Aug 6, 2018
#6	-2.01% Aug 15, 2018 - Dec 7, 2018	-0.68% Sep 27, 2024 - Dec 3, 2024
#7	-2.00% Apr 14, 2015 - Oct 7, 2015	-0.67% Jul 13, 2023 - Aug 4, 2023
#8	-1.96% Dec 6, 2017 - Jul 13, 2018	-0.65% Apr 3, 2025 - Apr 28, 2025
#9	-1.59% Jan 28, 2015 - Mar 19, 2015	-0.62% Sep 4, 2019 - Oct 2, 2019
#10	-1.51% Oct 30, 2014 - Dec 12, 2014	-0.48% Apr 4, 2024 - May 2, 2024
#11	-1.48% Sep 3, 2019 - Oct 8, 2019	-0.46% Jan 31, 2024 - Mar 1, 2024
#12	-1.34% Oct 8, 2019 - Jan 3, 2020	-0.43% Aug 8, 2023 - Aug 25, 2023
#13	-1.20% May 16, 2014 - Jun 26, 2014	-0.40% Sep 21, 2018 - Nov 16, 2018
#14	-1.16% Jun 26, 2014 - Jul 28, 2014	-0.40% Oct 4, 2019 - Nov 22, 2019
#15	-1.05% Feb 19, 2016 - Apr 4, 2016	-0.38% Aug 2, 2024 - Aug 21, 2024

Correlation

Correlation between FMB and USTB is 0.82 which considered as a strong positive correlation - the stocks tend to move together.

0.82

-101

Dividend Comparison (2014 - 2026)

FMB vs USTB dividend yield comparison.

Year	FMB	USTB
2026	1.21%	1.56%
2025	3.37%	4.63%
2024	3.22%	5.05%
2023	2.98%	4.49%
2022	2.47%	2.54%
2021	1.96%	1.84%
2020	2.19%	2.59%
2019	2.47%	2.69%
2018	2.58%	2.32%
2017	2.49%	0.43%
2016	2.93%	0.00%
2015	3.07%	0.00%
2014	1.70%	0.00%