PIFI vs FMN

Comparison between CLEARSHARES PITON INTERMEDIATE FIXED INCOME ETF (PIFI, ETF) and Federated Hermes Premier Municipal Income Fund (FMN, ETF).

5-Year PerformancePIFI has outperformed FMN, delivering a return of +0.9% compared to -1.8%

PIFI vs FMN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PIFI(ETF)	FMN(ETF)
Net Assets	$98M	$98M
Expense Ratio	0.45%	N/A
Max Drawdown	11.71%	53.35%
Sharpe Ratio	-0.45	1.19
5Y Beta	0.00	0.13
5Y Dividends CAGR	145.68%	-1.78%

Net Assets

PIFI

$98M

Winner

FMN

$98M

Expense Ratio

PIFI

0.45%

FMN

N/A

Max Drawdown

Winner

PIFI

11.71%

FMN

53.35%

Sharpe Ratio

PIFI

-0.45

Winner

FMN

1.19

5Y Beta

Winner

PIFI

0.00

FMN

0.13

5Y Dividends CAGR

Winner

PIFI

145.68%

FMN

-1.78%

PIFI vs FMN - Historical Returns

Returns include dividend reinvestment.

Period	PIFI	FMN
1 month	-0.06%	-0.05%
3 months	-0.68%	+1.12%
6 months	-0.09%	+3.64%
1 year	+2.33%	+12.38%
5 years(CAGR)	+0.93%	-1.83%
10 years(CAGR)	N/A	+0.81%
Max(CAGR)	+0.72%	+4.57%

PIFI

-0.06%

Winner

FMN

-0.05%

PIFI

-0.68%

Winner

FMN

+1.12%

PIFI

-0.09%

Winner

FMN

+3.64%

PIFI

+2.33%

Winner

FMN

+12.38%

5Y(CAGR)

Winner

PIFI

+0.93%

FMN

-1.83%

10Y(CAGR)

PIFI

N/A

FMN

+0.81%

Max(CAGR)

PIFI

+0.72%

Winner

FMN

+4.57%

PIFI vs FMN - Annual Returns (2002 - 2026)

Returns include dividend reinvestment.

Year	PIFI	FMN
2026	-0.21%	+3.92%
2025	+6.32%	+5.99%
2024	+2.71%	+2.75%
2023	+4.39%	+8.90%
2022	-6.88%	-26.45%
2021	-1.29%	+5.35%
2020	+0.10%	+9.98%
2019	N/A	+16.36%
2018	N/A	-8.66%
2017	N/A	+5.78%
2016	N/A	-0.95%
2015	N/A	+8.93%
2014	N/A	+16.63%
2013	N/A	-14.07%
2012	N/A	+12.58%
2011	N/A	+21.89%
2010	N/A	-3.72%
2009	N/A	+71.67%
2008	N/A	-27.59%
2007	N/A	-8.55%
2006	N/A	+10.98%
2005	N/A	+9.47%
2004	N/A	+6.40%
2003	N/A	+0.62%
2002	N/A	+0.00%

PIFI vs FMN Drawdown Comparison

The maximum drawdown for PIFI was -10.59%, occurring on Oct 20, 2022. Recovery took 927 trading sessions.

The maximum drawdown for FMN was -49.02%, occurring on Oct 10, 2008. Recovery took 558 trading sessions.

The current PIFI drawdown is -1.55%. The current FMN drawdown is -17.31%.

Rank	PIFI	FMN
#1	-10.59% Dec 31, 2020 - Sep 10, 2024	-49.02% May 14, 2007 - Jul 30, 2009
#2	-2.71% Sep 16, 2024 - Mar 31, 2025	-40.60% Sep 21, 2021 - Oct 30, 2023
#3	-1.93% Feb 27, 2026 - May 19, 2026	-31.87% Mar 6, 2020 - Aug 12, 2020
#4	-1.51% Apr 4, 2025 - Apr 29, 2025	-24.86% Oct 1, 2012 - May 28, 2015
#5	-1.24% Apr 30, 2025 - Jun 23, 2025	-21.45% Sep 13, 2010 - Oct 21, 2011
#6	-0.76% Jun 30, 2025 - Aug 1, 2025	-17.99% Aug 1, 2016 - Sep 30, 2019
#7	-0.67% Oct 22, 2025 - Nov 24, 2025	-16.66% Oct 6, 2009 - Aug 5, 2010
#8	-0.58% Nov 26, 2025 - Dec 29, 2025	-13.73% Sep 8, 2005 - Aug 21, 2006
#9	-0.54% Sep 16, 2025 - Oct 10, 2025	-13.42% Mar 26, 2004 - Sep 7, 2004
#10	-0.44% Jan 7, 2026 - Feb 5, 2026	-8.91% Mar 9, 2012 - Mar 30, 2012
#11	-0.41% Oct 2, 2020 - Dec 28, 2020	-8.89% Dec 27, 2002 - Apr 25, 2003
#12	-0.30% Aug 13, 2025 - Aug 22, 2025	-8.35% Jun 24, 2003 - Jan 9, 2004
#13	-0.23% Sep 10, 2024 - Sep 13, 2024	-6.91% Aug 13, 2020 - Dec 30, 2020
#14	-0.21% Aug 4, 2025 - Aug 13, 2025	-6.63% May 28, 2015 - Oct 16, 2015
#15	-0.19% Aug 29, 2025 - Sep 3, 2025	-5.72% Feb 10, 2012 - Mar 9, 2012

Correlation

Correlation between PIFI and FMN is 0.66 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.66

-101

Dividend Comparison (2003 - 2026)

PIFI vs FMN dividend yield comparison.

Year	PIFI	FMN
2026	1.70%	2.39%
2025	3.16%	4.64%
2024	2.92%	4.06%
2023	2.29%	4.03%
2022	1.22%	5.30%
2021	0.25%	4.31%
2020	0.00%	4.16%
2019	0.00%	4.40%
2018	0.00%	5.57%
2017	0.00%	5.21%
2016	0.00%	6.07%
2015	0.00%	5.92%
2014	0.00%	6.19%
2013	0.00%	6.86%
2012	0.00%	6.18%
2011	0.00%	6.71%
2010	0.00%	7.86%
2009	0.00%	6.95%
2008	0.00%	8.85%
2007	0.00%	6.04%
2006	0.00%	5.63%
2005	0.00%	6.61%
2004	0.00%	7.14%
2003	0.00%	6.51%