MMU vs IAT

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

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

MMU vs IAT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

MMU

$600M

Winner

IAT

$603M

Expense Ratio

MMU

N/A

IAT

0.38%

Max Drawdown

Winner

MMU

46.70%

IAT

78.80%

Sharpe Ratio

MMU

0.82

Winner

IAT

1.23

5Y Beta

Winner

MMU

0.18

IAT

1.01

P/E Ratio

MMU

N/A

IAT

12.75

Forward P/E

MMU

N/A

IAT

11.62

PEG Ratio

MMU

N/A

IAT

0.40

5Y Dividends CAGR

MMU

5.88%

Winner

IAT

7.63%

5Y EPS CAGR

MMU

N/A

IAT

6.81%

Debt to Equity

MMU

N/A

IAT

54.03%

P/S Ratio

MMU

N/A

IAT

3.74

P/B Ratio

MMU

N/A

IAT

1.31

MMU vs IAT - Historical Returns

Returns include dividend reinvestment.

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

MMU

+1.23%

Winner

IAT

+8.84%

MMU

-0.51%

Winner

IAT

+17.84%

MMU

+1.64%

Winner

IAT

+10.92%

MMU

+10.04%

Winner

IAT

+33.43%

5Y(CAGR)

MMU

-0.31%

Winner

IAT

+3.80%

10Y(CAGR)

MMU

+1.28%

Winner

IAT

+9.19%

Max(CAGR)

Winner

MMU

+5.88%

IAT

+3.58%

MMU vs IAT - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	MMU	IAT
2026	+0.91%	+10.60%
2025	+6.96%	+13.83%
2024	+5.34%	+23.07%
2023	+4.91%	-8.57%
2022	-19.58%	-22.25%
2021	+6.24%	+39.74%
2020	+0.29%	-7.86%
2019	+5.60%	+29.03%
2018	-4.82%	-17.78%
2017	+8.30%	+10.25%
2016	+1.72%	+35.82%
2015	+10.34%	+2.41%
2014	+18.47%	+8.94%
2013	-11.35%	+33.18%
2012	+14.07%	+15.22%
2011	+20.27%	-13.91%
2010	+3.61%	+18.93%
2009	+37.35%	-11.04%
2008	-9.63%	-31.81%
2007	+3.15%	-25.73%
2006	+10.06%	+6.02%
2005	+3.14%	N/A
2004	+0.27%	N/A
2003	+14.43%	N/A
2002	+8.40%	N/A
2001	+7.38%	N/A
2000	+16.78%	N/A
1999	-6.08%	N/A

MMU vs IAT Drawdown Comparison

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

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

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

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

Correlation

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

0.73

-101

Dividend Comparison (1999 - 2026)

MMU vs IAT dividend yield comparison.

Year	MMU	IAT
2026	2.65%	0.42%
2025	6.26%	2.94%
2024	6.16%	2.95%
2023	4.36%	3.56%
2022	4.65%	3.12%
2021	3.88%	1.88%
2020	4.21%	2.87%
2019	4.96%	2.49%
2018	5.68%	2.48%
2017	5.37%	1.55%
2016	5.67%	1.52%
2015	5.50%	1.78%
2014	5.74%	1.68%
2013	6.39%	1.56%
2012	5.43%	1.96%
2011	5.82%	1.95%
2010	6.40%	1.11%
2009	5.29%	2.03%
2008	5.79%	5.21%
2007	4.97%	3.41%
2006	5.16%	2.30%
2005	5.54%	0.00%
2004	6.35%	0.00%
2003	6.10%	0.00%
2002	5.87%	0.00%
2001	5.77%	0.00%
2000	6.04%	0.00%
1999	1.10%	0.00%