FSMB vs MMU

Comparison between FIRST TRUST SHORT DURATION MANAGED MUNICIPAL ETF (FSMB, ETF) and Western Asset Managed Municipals Fund Inc (MMU, ETF).

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

FSMB vs MMU - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FSMB(ETF)	MMU(ETF)
Net Assets	$599M	$598M
Expense Ratio	0.34%	N/A
Max Drawdown	7.98%	46.70%
Sharpe Ratio	0.25	0.77
5Y Beta	-0.01	0.18
5Y Dividends CAGR	14.01%	5.88%

Net Assets

Winner

FSMB

$599M

MMU

$598M

Expense Ratio

FSMB

0.34%

MMU

N/A

Max Drawdown

Winner

FSMB

7.98%

MMU

46.70%

Sharpe Ratio

FSMB

0.25

Winner

MMU

0.77

5Y Beta

Winner

FSMB

-0.01

MMU

0.18

5Y Dividends CAGR

Winner

FSMB

14.01%

MMU

5.88%

FSMB vs MMU - Historical Returns

Returns include dividend reinvestment.

Period	FSMB	MMU
1 month	+0.39%	+0.15%
3 months	-0.05%	-1.96%
6 months	+1.44%	-0.42%
1 year	+3.92%	+10.31%
5 years(CAGR)	+1.50%	-0.57%
10 years(CAGR)	N/A	+1.22%
Max(CAGR)	+2.18%	+5.83%

Winner

FSMB

+0.39%

MMU

+0.15%

Winner

FSMB

-0.05%

MMU

-1.96%

Winner

FSMB

+1.44%

MMU

-0.42%

FSMB

+3.92%

Winner

MMU

+10.31%

5Y(CAGR)

Winner

FSMB

+1.50%

MMU

-0.57%

10Y(CAGR)

FSMB

N/A

MMU

+1.22%

Max(CAGR)

FSMB

+2.18%

Winner

MMU

+5.83%

FSMB vs MMU - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	FSMB	MMU
2026	+1.08%	-0.46%
2025	+4.14%	+6.96%
2024	+2.35%	+5.34%
2023	+3.49%	+4.91%
2022	-3.93%	-19.58%
2021	+1.17%	+6.24%
2020	+3.44%	+0.29%
2019	+3.90%	+5.60%
2018	+0.61%	-4.82%
2017	N/A	+8.30%
2016	N/A	+1.72%
2015	N/A	+10.34%
2014	N/A	+18.47%
2013	N/A	-11.35%
2012	N/A	+14.07%
2011	N/A	+20.27%
2010	N/A	+3.61%
2009	N/A	+37.35%
2008	N/A	-9.63%
2007	N/A	+3.15%
2006	N/A	+10.06%
2005	N/A	+3.14%
2004	N/A	+0.27%
2003	N/A	+14.43%
2002	N/A	+8.40%
2001	N/A	+7.38%
2000	N/A	+16.78%
1999	N/A	-6.08%

FSMB vs MMU Drawdown Comparison

The maximum drawdown for FSMB was -6.32%, occurring on Mar 20, 2020. Recovery took 91 trading sessions.

The maximum drawdown for MMU was -34.50%, occurring on Mar 18, 2020. This drawdown has not yet recovered.

The current FSMB drawdown is -0.30%. The current MMU drawdown is -7.32%.

Rank	FSMB	MMU
#1	-6.32% Mar 6, 2020 - Jul 16, 2020	-34.50% Aug 8, 2019 - Mar 18, 2020
#2	-5.97% Jul 28, 2021 - Jul 9, 2024	-32.11% May 28, 2008 - Apr 21, 2009
#3	-1.76% Apr 3, 2025 - Jun 4, 2025	-26.42% Nov 26, 2012 - Mar 4, 2015
#4	-1.29% Feb 26, 2026 - Mar 24, 2026	-16.43% Dec 20, 2017 - Feb 26, 2019
#5	-0.93% Feb 10, 2021 - Apr 15, 2021	-14.63% Aug 23, 2016 - Dec 20, 2017
#6	-0.82% Oct 2, 2024 - Nov 27, 2024	-13.52% Sep 10, 2010 - Sep 7, 2011
#7	-0.80% Dec 9, 2024 - Jan 30, 2025	-12.27% Mar 8, 2004 - Nov 26, 2004
#8	-0.63% Aug 11, 2020 - Nov 4, 2020	-9.50% Feb 9, 2012 - May 3, 2012
#9	-0.55% Mar 10, 2025 - Apr 3, 2025	-8.49% Nov 16, 1999 - Jun 22, 2000
#10	-0.53% Aug 28, 2019 - Oct 9, 2019	-7.74% Oct 6, 2009 - Jan 14, 2010
#11	-0.39% Sep 17, 2025 - Nov 26, 2025	-7.60% Apr 24, 2015 - Jul 29, 2015
#12	-0.30% Feb 6, 2025 - Feb 21, 2025	-7.25% Sep 7, 2001 - Nov 7, 2001
#13	-0.29% Nov 1, 2019 - Nov 21, 2019	-7.17% Jul 27, 2012 - Sep 21, 2012
#14	-0.27% Apr 19, 2021 - May 25, 2021	-7.06% May 14, 2007 - Jan 3, 2008
#15	-0.27% Jan 6, 2020 - Jan 10, 2020	-6.87% Oct 2, 2002 - May 14, 2003

Correlation

Correlation between FSMB and MMU is 0.50 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.50

-101

Dividend Comparison (1999 - 2026)

FSMB vs MMU dividend yield comparison.

Year	FSMB	MMU
2026	1.33%	2.69%
2025	3.09%	6.26%
2024	2.88%	6.16%
2023	2.40%	4.36%
2022	1.47%	4.65%
2021	1.20%	3.88%
2020	1.79%	4.21%
2019	2.27%	4.96%
2018	0.19%	5.68%
2017	0.00%	5.37%
2016	0.00%	5.67%
2015	0.00%	5.50%
2014	0.00%	5.74%
2013	0.00%	6.39%
2012	0.00%	5.43%
2011	0.00%	5.82%
2010	0.00%	6.40%
2009	0.00%	5.29%
2008	0.00%	5.79%
2007	0.00%	4.97%
2006	0.00%	5.16%
2005	0.00%	5.54%
2004	0.00%	6.35%
2003	0.00%	6.10%
2002	0.00%	5.87%
2001	0.00%	5.77%
2000	0.00%	6.04%
1999	0.00%	1.10%