IAT vs MMU

Comparison between ISHARES U.S. REGIONAL BANKS ETF (IAT, ETF) and Western Asset Managed Municipals Fund Inc (MMU, ETF).

5-Year PerformanceIAT has outperformed MMU, delivering a return of +3.8% compared to -0.3%

IAT vs MMU - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	IAT(ETF)	MMU(ETF)
Net Assets	$603M	$600M
Expense Ratio	0.38%	N/A
Max Drawdown	78.80%	46.70%
Sharpe Ratio	1.23	0.82
5Y Beta	1.01	0.18
P/E Ratio	12.75	N/A
Forward P/E	11.62	N/A
PEG Ratio	0.40	N/A
5Y Dividends CAGR	7.63%	5.88%
5Y EPS CAGR	6.81%	N/A
Debt to Equity	54.03%	N/A
P/S Ratio	3.74	N/A
P/B Ratio	1.31	N/A

Net Assets

Winner

IAT

$603M

MMU

$600M

Expense Ratio

IAT

0.38%

MMU

N/A

Max Drawdown

IAT

78.80%

Winner

MMU

46.70%

Sharpe Ratio

Winner

IAT

1.23

MMU

0.82

5Y Beta

IAT

1.01

Winner

MMU

0.18

P/E Ratio

IAT

12.75

MMU

N/A

Forward P/E

IAT

11.62

MMU

N/A

PEG Ratio

IAT

0.40

MMU

N/A

5Y Dividends CAGR

Winner

IAT

7.63%

MMU

5.88%

5Y EPS CAGR

IAT

6.81%

MMU

N/A

Debt to Equity

IAT

54.03%

MMU

N/A

P/S Ratio

IAT

3.74

MMU

N/A

P/B Ratio

IAT

1.31

MMU

N/A

IAT vs MMU - Historical Returns

Returns include dividend reinvestment.

Period	IAT	MMU
1 month	+8.84%	+1.23%
3 months	+17.84%	-0.51%
6 months	+10.92%	+1.64%
1 year	+33.43%	+10.04%
5 years(CAGR)	+3.80%	-0.31%
10 years(CAGR)	+9.19%	+1.28%
Max(CAGR)	+3.58%	+5.88%

Winner

IAT

+8.84%

MMU

+1.23%

Winner

IAT

+17.84%

MMU

-0.51%

Winner

IAT

+10.92%

MMU

+1.64%

Winner

IAT

+33.43%

MMU

+10.04%

5Y(CAGR)

Winner

IAT

+3.80%

MMU

-0.31%

10Y(CAGR)

Winner

IAT

+9.19%

MMU

+1.28%

Max(CAGR)

IAT

+3.58%

Winner

MMU

+5.88%

IAT vs MMU - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	IAT	MMU
2026	+10.60%	+0.91%
2025	+13.83%	+6.96%
2024	+23.07%	+5.34%
2023	-8.57%	+4.91%
2022	-22.25%	-19.58%
2021	+39.74%	+6.24%
2020	-7.86%	+0.29%
2019	+29.03%	+5.60%
2018	-17.78%	-4.82%
2017	+10.25%	+8.30%
2016	+35.82%	+1.72%
2015	+2.41%	+10.34%
2014	+8.94%	+18.47%
2013	+33.18%	-11.35%
2012	+15.22%	+14.07%
2011	-13.91%	+20.27%
2010	+18.93%	+3.61%
2009	-11.04%	+37.35%
2008	-31.81%	-9.63%
2007	-25.73%	+3.15%
2006	+6.02%	+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%

IAT vs MMU Drawdown Comparison

The maximum drawdown for IAT was -77.21%, occurring on Mar 6, 2009. Recovery took 2465 trading sessions.

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

The current IAT drawdown is -1.74%. The current MMU drawdown is -6.04%.

Rank	IAT	MMU
#1	-77.21% Feb 20, 2007 - Dec 1, 2016	-34.50% Aug 8, 2019 - Mar 18, 2020
#2	-55.53% Jan 14, 2022 - Feb 4, 2026	-32.11% May 28, 2008 - Apr 21, 2009
#3	-52.03% Mar 9, 2018 - Jan 12, 2021	-26.42% Nov 26, 2012 - Mar 4, 2015
#4	-17.49% Feb 6, 2026 - Mar 13, 2026	-16.43% Dec 20, 2017 - Feb 26, 2019
#5	-13.86% May 17, 2021 - Oct 5, 2021	-14.63% Aug 23, 2016 - Dec 20, 2017
#6	-13.59% Mar 1, 2017 - Nov 29, 2017	-13.52% Sep 10, 2010 - Sep 7, 2011
#7	-10.68% Oct 22, 2021 - Jan 6, 2022	-12.27% Mar 8, 2004 - Nov 26, 2004
#8	-9.71% Jan 14, 2021 - Feb 9, 2021	-9.50% Feb 9, 2012 - May 3, 2012
#9	-7.34% Feb 1, 2018 - Mar 7, 2018	-8.49% Nov 16, 1999 - Jun 22, 2000
#10	-7.19% Mar 12, 2021 - Apr 27, 2021	-7.74% Oct 6, 2009 - Jan 14, 2010
#11	-5.42% Feb 24, 2021 - Mar 8, 2021	-7.60% Apr 24, 2015 - Jul 29, 2015
#12	-5.30% May 8, 2006 - Sep 20, 2006	-7.25% Sep 7, 2001 - Nov 7, 2001
#13	-4.22% Jan 4, 2017 - Jan 25, 2017	-7.17% Jul 27, 2012 - Sep 21, 2012
#14	-3.93% May 7, 2021 - May 14, 2021	-7.06% May 14, 2007 - Jan 3, 2008
#15	-2.99% Dec 27, 2006 - Feb 7, 2007	-6.87% Oct 2, 2002 - May 14, 2003

Correlation

Correlation between IAT and MMU is 0.73 which considered as a strong positive correlation - the stocks tend to move together.

0.73

-101

Dividend Comparison (1999 - 2026)

IAT vs MMU dividend yield comparison.

Year	IAT	MMU
2026	0.42%	2.65%
2025	2.94%	6.26%
2024	2.95%	6.16%
2023	3.56%	4.36%
2022	3.12%	4.65%
2021	1.88%	3.88%
2020	2.87%	4.21%
2019	2.49%	4.96%
2018	2.48%	5.68%
2017	1.55%	5.37%
2016	1.52%	5.67%
2015	1.78%	5.50%
2014	1.68%	5.74%
2013	1.56%	6.39%
2012	1.96%	5.43%
2011	1.95%	5.82%
2010	1.11%	6.40%
2009	2.03%	5.29%
2008	5.21%	5.79%
2007	3.41%	4.97%
2006	2.30%	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%