MHF vs RAFE

Comparison between Western Asset Municipal High Income Fund Inc (MHF, ETF) and PIMCO RAFI ESG U.S. ETF (RAFE, ETF).

5-Year PerformanceRAFE has outperformed MHF, delivering a return of +10.9% compared to +1.4%

MHF vs RAFE - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MHF(ETF)	RAFE(ETF)
Net Assets	$153M	$153M
Expense Ratio	N/A	0.29%
Max Drawdown	35.92%	35.74%
Sharpe Ratio	0.22	1.91
5Y Beta	0.19	0.78
P/E Ratio	N/A	24.74
Forward P/E	N/A	16.65
5Y Dividends CAGR	10.43%	4.92%
5Y EPS CAGR	N/A	10.67%
Debt to Equity	N/A	75.30%
P/S Ratio	N/A	1.80
P/B Ratio	N/A	3.43

Net Assets

Winner

MHF

$153M

RAFE

$153M

Expense Ratio

MHF

N/A

RAFE

0.29%

Max Drawdown

MHF

35.92%

Winner

RAFE

35.74%

Sharpe Ratio

MHF

0.22

Winner

RAFE

1.91

5Y Beta

Winner

MHF

0.19

RAFE

0.78

P/E Ratio

MHF

N/A

RAFE

24.74

Forward P/E

MHF

N/A

RAFE

16.65

5Y Dividends CAGR

Winner

MHF

10.43%

RAFE

4.92%

5Y EPS CAGR

MHF

N/A

RAFE

10.67%

Debt to Equity

MHF

N/A

RAFE

75.30%

P/S Ratio

MHF

N/A

RAFE

1.80

P/B Ratio

MHF

N/A

RAFE

3.43

MHF vs RAFE - Historical Returns

Returns include dividend reinvestment.

Period	MHF	RAFE
1 month	+0.35%	+4.83%
3 months	+1.36%	+14.76%
6 months	+1.98%	+13.67%
1 year	+4.71%	+29.73%
5 years(CAGR)	+1.38%	+10.94%
10 years(CAGR)	+2.59%	N/A
Max(CAGR)	+4.94%	+12.55%

MHF

+0.35%

Winner

RAFE

+4.83%

MHF

+1.36%

Winner

RAFE

+14.76%

MHF

+1.98%

Winner

RAFE

+13.67%

MHF

+4.71%

Winner

RAFE

+29.73%

5Y(CAGR)

MHF

+1.38%

Winner

RAFE

+10.94%

10Y(CAGR)

MHF

+2.59%

RAFE

N/A

Max(CAGR)

MHF

+4.94%

Winner

RAFE

+12.55%

MHF vs RAFE - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	MHF	RAFE
2026	+3.25%	+13.46%
2025	+5.62%	+18.22%
2024	+11.13%	+14.02%
2023	+3.08%	+18.47%
2022	-17.27%	-14.77%
2021	+10.73%	+31.88%
2020	+2.74%	+4.90%
2019	+11.83%	+0.55%
2018	-2.40%	N/A
2017	+7.69%	N/A
2016	-4.81%	N/A
2015	+6.80%	N/A
2014	+20.30%	N/A
2013	-12.41%	N/A
2012	+6.95%	N/A
2011	+16.94%	N/A
2010	+3.58%	N/A
2009	+18.79%	N/A
2008	-6.14%	N/A
2007	-3.49%	N/A
2006	+15.59%	N/A
2005	+6.05%	N/A
2004	-0.82%	N/A
2003	+9.44%	N/A
2002	-2.15%	N/A
2001	+2.25%	N/A
2000	+21.56%	N/A
1999	-5.06%	N/A

MHF vs RAFE Drawdown Comparison

The maximum drawdown for MHF was -29.95%, occurring on Oct 6, 2008. Recovery took 412 trading sessions.

The maximum drawdown for RAFE was -35.74%, occurring on Mar 23, 2020. Recovery took 199 trading sessions.

The current MHF drawdown is -5.37%. The current RAFE drawdown is -0.26%.

Rank	MHF	RAFE
#1	-29.95% Jul 9, 2008 - Feb 26, 2010	-35.74% Feb 12, 2020 - Nov 24, 2020
#2	-26.72% Oct 25, 2021 - Feb 19, 2025	-24.29% Jan 4, 2022 - Dec 26, 2023
#3	-24.97% Feb 25, 2020 - Jan 26, 2021	-16.36% Feb 19, 2025 - Jul 1, 2025
#4	-24.71% Sep 26, 2012 - Dec 2, 2015	-8.00% Jul 16, 2024 - Aug 30, 2024
#5	-14.28% May 12, 2016 - Sep 19, 2017	-7.46% Feb 11, 2026 - Apr 17, 2026
#6	-14.13% Sep 28, 2010 - Sep 9, 2011	-6.20% Mar 28, 2024 - Jun 18, 2024
#7	-13.32% Mar 25, 2025 - Sep 19, 2025	-5.61% Nov 25, 2024 - Feb 13, 2025
#8	-13.25% Nov 12, 1999 - Jul 5, 2000	-4.99% Jun 4, 2021 - Aug 6, 2021
#9	-12.46% May 10, 2007 - May 30, 2008	-4.62% Oct 27, 2025 - Nov 28, 2025
#10	-11.92% Aug 24, 2001 - Jun 13, 2003	-4.41% Nov 16, 2021 - Dec 16, 2021
#11	-10.85% Mar 23, 2004 - May 26, 2005	-4.27% Jan 17, 2020 - Feb 12, 2020
#12	-9.99% Sep 19, 2017 - May 23, 2019	-4.05% Jan 14, 2021 - Feb 8, 2021
#13	-9.96% Sep 19, 2025 - Mar 27, 2026	-3.99% Aug 11, 2021 - Oct 19, 2021
#14	-9.23% Feb 27, 2012 - May 1, 2012	-3.44% Aug 30, 2024 - Sep 19, 2024
#15	-8.80% Jul 1, 2021 - Oct 25, 2021	-3.37% Jul 23, 2025 - Aug 12, 2025

Correlation

Correlation between MHF and RAFE is 0.75 which considered as a strong positive correlation - the stocks tend to move together.

0.75

-101

Dividend Comparison (1999 - 2026)

MHF vs RAFE dividend yield comparison.

Year	MHF	RAFE
2026	2.46%	0.40%
2025	5.93%	1.67%
2024	5.65%	1.79%
2023	3.78%	1.81%
2022	3.72%	2.22%
2021	3.23%	1.42%
2020	3.75%	2.36%
2019	4.02%	0.00%
2018	4.42%	0.00%
2017	4.14%	0.00%
2016	4.53%	0.00%
2015	4.45%	0.00%
2014	4.73%	0.00%
2013	5.59%	0.00%
2012	5.13%	0.00%
2011	5.57%	0.00%
2010	6.14%	0.00%
2009	5.98%	0.00%
2008	6.66%	0.00%
2007	5.66%	0.00%
2006	4.92%	0.00%
2005	6.10%	0.00%
2004	7.38%	0.00%
2003	7.22%	0.00%
2002	7.46%	0.00%
2001	7.17%	0.00%
2000	7.16%	0.00%
1999	1.34%	0.00%