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MMU vs SPY

Comparison between Western Asset Managed Municipals Fund Inc (MMU, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed MMU, delivering a return of +13.3% compared to -0.6%

MMU vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
MMU
$598M
Winner
SPY
$735B
Expense Ratio
MMU
N/A
SPY
0.09%
Max Drawdown
Winner
MMU
46.70%
SPY
56.47%
Sharpe Ratio
MMU
0.77
Winner
SPY
1.62
5Y Beta
Winner
MMU
0.18
SPY
1.00
P/E Ratio
MMU
N/A
SPY
28.99
Forward P/E
MMU
N/A
SPY
22.37
5Y Dividends CAGR
Winner
MMU
5.88%
SPY
5.43%
5Y EPS CAGR
MMU
N/A
SPY
26.05%
Debt to Equity
MMU
N/A
SPY
32.40%
P/S Ratio
MMU
N/A
SPY
3.74
P/B Ratio
MMU
N/A
SPY
5.61

MMU vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
MMU
+0.15%
Winner
SPY
+1.90%
3M
MMU
-1.96%
Winner
SPY
+8.55%
6M
MMU
-0.42%
Winner
SPY
+8.18%
1Y
MMU
+10.31%
Winner
SPY
+25.79%
5Y(CAGR)
MMU
-0.57%
Winner
SPY
+13.32%
10Y(CAGR)
MMU
+1.22%
Winner
SPY
+15.19%
Max(CAGR)
MMU
+5.83%
Winner
SPY
+8.47%

MMU vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearMMUSPY
2026-0.46%+8.26%
2025+6.96%+18.00%
2024+5.34%+25.59%
2023+4.91%+26.72%
2022-19.58%-18.64%
2021+6.24%+30.52%
2020+0.29%+17.28%
2019+5.60%+31.09%
2018-4.82%-5.24%
2017+8.30%+20.78%
2016+1.72%+13.59%
2015+10.34%+1.31%
2014+18.47%+14.56%
2013-11.35%+29.00%
2012+14.07%+14.17%
2011+20.27%+0.85%
2010+3.61%+13.14%
2009+37.35%+22.67%
2008-9.63%-36.25%
2007+3.15%+5.32%
2006+10.06%+13.85%
2005+3.14%+5.32%
2004+0.27%+10.75%
2003+14.43%+24.18%
2002+8.40%-22.42%
2001+7.38%-10.13%
2000+16.78%-8.84%
1999-6.08%+8.61%

MMU vs SPY 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 SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current MMU drawdown is -7.32%. The current SPY drawdown is -2.90%.

RankMMUSPY
#1-34.50%
Aug 8, 2019 - Mar 18, 2020		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-32.11%
May 28, 2008 - Apr 21, 2009		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-26.42%
Nov 26, 2012 - Mar 4, 2015		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-16.43%
Dec 20, 2017 - Feb 26, 2019		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-14.63%
Aug 23, 2016 - Dec 20, 2017		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-13.52%
Sep 10, 2010 - Sep 7, 2011		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-12.27%
Mar 8, 2004 - Nov 26, 2004		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-9.50%
Feb 9, 2012 - May 3, 2012		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-8.49%
Nov 16, 1999 - Jun 22, 2000		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-7.74%
Oct 6, 2009 - Jan 14, 2010		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-7.60%
Apr 24, 2015 - Jul 29, 2015		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-7.25%
Sep 7, 2001 - Nov 7, 2001		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-7.17%
Jul 27, 2012 - Sep 21, 2012		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-7.06%
May 14, 2007 - Jan 3, 2008		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-6.87%
Oct 2, 2002 - May 14, 2003		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between MMU and SPY is 0.78 which considered as a strong positive correlation - the stocks tend to move together.

0.78
-101

Dividend Comparison (1999 - 2026)

MMU vs SPY dividend yield comparison.

YearMMUSPY
20262.69%0.24%
20256.26%1.07%
20246.16%1.21%
20234.36%1.40%
20224.65%1.65%
20213.88%1.20%
20204.21%1.52%
20194.96%1.75%
20185.68%2.04%
20175.37%1.80%
20165.67%2.03%
20155.50%2.06%
20145.74%1.87%
20136.39%1.81%
20125.43%2.18%
20115.82%2.05%
20106.40%1.80%
20095.29%1.95%
20085.79%3.02%
20074.97%1.85%
20065.16%1.73%
20055.54%1.73%
20046.35%1.82%
20036.10%1.47%
20025.87%1.70%
20015.77%1.25%
20006.04%1.15%
19991.10%0.24%

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