PBTP vs NMT

Comparison between INVESCO 0-5 YR US TIPS ETF (PBTP, ETF) and Nuveen Massachusetts Quality Municipal Income Fund (NMT, ETF).

5-Year PerformancePBTP has outperformed NMT, delivering a return of +3.1% compared to +1.5%

PBTP vs NMT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PBTP(ETF)	NMT(ETF)
Net Assets	$116M	$116M
Expense Ratio	0.07%	N/A
Max Drawdown	9.90%	48.99%
Sharpe Ratio	-0.69	1.45
5Y Beta	-0.01	0.16
5Y Dividends CAGR	27.17%	8.52%

Net Assets

Winner

PBTP

$116M

NMT

$116M

Expense Ratio

PBTP

0.07%

NMT

N/A

Max Drawdown

Winner

PBTP

9.90%

NMT

48.99%

Sharpe Ratio

PBTP

-0.69

Winner

NMT

1.45

5Y Beta

Winner

PBTP

-0.01

NMT

0.16

5Y Dividends CAGR

Winner

PBTP

27.17%

NMT

8.52%

PBTP vs NMT - Historical Returns

Returns include dividend reinvestment.

Period	PBTP	NMT
1 month	+0.51%	+0.40%
3 months	+0.41%	+2.56%
6 months	+1.53%	+11.03%
1 year	+2.84%	+21.66%
5 years(CAGR)	+3.13%	+1.50%
10 years(CAGR)	+3.35%	+2.67%
Max(CAGR)	+3.35%	+4.59%

Winner

PBTP

+0.51%

NMT

+0.40%

PBTP

+0.41%

Winner

NMT

+2.56%

PBTP

+1.53%

Winner

NMT

+11.03%

PBTP

+2.84%

Winner

NMT

+21.66%

5Y(CAGR)

Winner

PBTP

+3.13%

NMT

+1.50%

10Y(CAGR)

Winner

PBTP

+3.35%

NMT

+2.67%

Max(CAGR)

PBTP

+3.35%

Winner

NMT

+4.59%

PBTP vs NMT - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	PBTP	NMT
2026	+2.24%	+17.21%
2025	+5.90%	+5.85%
2024	+4.79%	+16.17%
2023	+4.57%	+1.52%
2022	-3.02%	-30.75%
2021	+5.41%	+9.84%
2020	+4.75%	+6.18%
2019	+4.74%	+23.70%
2018	+0.59%	-14.40%
2017	+0.04%	+13.61%
2016	N/A	+0.05%
2015	N/A	+8.91%
2014	N/A	+15.06%
2013	N/A	-16.13%
2012	N/A	+6.26%
2011	N/A	+17.17%
2010	N/A	+4.45%
2009	N/A	+43.04%
2008	N/A	-20.35%
2007	N/A	-7.15%
2006	N/A	-3.17%
2005	N/A	+3.83%
2004	N/A	+8.22%
2003	N/A	+4.73%
2002	N/A	+6.23%
2001	N/A	+12.45%
2000	N/A	+10.29%
1999	N/A	-6.15%

PBTP vs NMT Drawdown Comparison

The maximum drawdown for PBTP was -5.44%, occurring on Sep 30, 2022. Recovery took 443 trading sessions.

The maximum drawdown for NMT was -40.09%, occurring on Oct 10, 2008. Recovery took 895 trading sessions.

The current NMT drawdown is -2.80%.

Rank	PBTP	NMT
#1	-5.44% Mar 11, 2022 - Dec 14, 2023	-40.09% Mar 2, 2006 - Sep 21, 2009
#2	-5.35% Mar 5, 2020 - Jun 8, 2020	-38.87% Nov 22, 2021 - May 1, 2026
#3	-2.18% Nov 17, 2021 - Mar 1, 2022	-21.46% Jan 24, 2013 - Dec 3, 2015
#4	-1.04% Nov 15, 2018 - Jan 31, 2019	-20.51% Jul 25, 2016 - Aug 1, 2019
#5	-1.03% Apr 30, 2025 - Jun 26, 2025	-18.20% Oct 21, 2010 - Jan 5, 2012
#6	-1.00% Apr 3, 2025 - Apr 28, 2025	-17.05% Jan 24, 2020 - Jul 10, 2020
#7	-0.97% Aug 24, 2018 - Nov 15, 2018	-16.42% Jun 4, 2003 - Mar 31, 2004
#8	-0.81% Sep 24, 2024 - Jan 15, 2025	-15.35% Feb 15, 2005 - Sep 7, 2005
#9	-0.75% Jun 2, 2026 - Aug 20, 2026	-13.69% Mar 31, 2004 - Oct 27, 2004
#10	-0.68% Jan 31, 2024 - Mar 1, 2024	-9.72% Nov 3, 1999 - Jul 27, 2000
#11	-0.66% Mar 17, 2026 - Apr 7, 2026	-8.85% Oct 7, 2009 - Mar 4, 2010
#12	-0.63% Aug 3, 2021 - Aug 27, 2021	-8.72% Feb 13, 2012 - May 2, 2012
#13	-0.63% May 18, 2021 - Jul 2, 2021	-8.29% Oct 8, 2002 - Mar 11, 2003
#14	-0.60% Feb 12, 2021 - Mar 2, 2021	-7.58% Oct 15, 2012 - Jan 17, 2013
#15	-0.53% Oct 22, 2025 - Jan 7, 2026	-7.49% Sep 7, 2005 - Feb 28, 2006

Correlation

Correlation between PBTP and NMT is 0.55 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.55

-101

Dividend Comparison (1999 - 2026)

PBTP vs NMT dividend yield comparison.

Year	PBTP	NMT
2026	2.77%	3.94%
2025	3.82%	7.27%
2024	2.59%	5.94%
2023	2.36%	3.06%
2022	5.33%	4.50%
2021	3.12%	3.43%
2020	1.25%	3.60%
2019	2.12%	3.46%
2018	2.33%	4.66%
2017	0.73%	4.57%
2016	0.00%	5.30%
2015	0.00%	5.15%
2014	0.00%	5.05%
2013	0.00%	5.63%
2012	0.00%	4.93%
2011	0.00%	5.24%
2010	0.00%	6.12%
2009	0.00%	5.31%
2008	0.00%	6.87%
2007	0.00%	5.04%
2006	0.00%	5.10%
2005	0.00%	5.67%
2004	0.00%	5.64%
2003	0.00%	6.12%
2002	0.00%	5.39%
2001	0.00%	6.16%
2000	0.00%	5.75%
1999	0.00%	1.00%