RAFE vs MHF

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

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

RAFE vs MHF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

RAFE

$153M

Winner

MHF

$153M

Expense Ratio

RAFE

0.29%

MHF

N/A

Max Drawdown

Winner

RAFE

35.74%

MHF

35.92%

Sharpe Ratio

Winner

RAFE

1.91

MHF

0.22

5Y Beta

RAFE

0.78

Winner

MHF

0.19

P/E Ratio

RAFE

24.74

MHF

N/A

Forward P/E

RAFE

16.65

MHF

N/A

5Y Dividends CAGR

RAFE

4.92%

Winner

MHF

10.43%

5Y EPS CAGR

RAFE

10.67%

MHF

N/A

Debt to Equity

RAFE

75.30%

MHF

N/A

P/S Ratio

RAFE

1.80

MHF

N/A

P/B Ratio

RAFE

3.43

MHF

N/A

RAFE vs MHF - Historical Returns

Returns include dividend reinvestment.

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

Winner

RAFE

+4.83%

MHF

+0.35%

Winner

RAFE

+14.76%

MHF

+1.36%

Winner

RAFE

+13.67%

MHF

+1.98%

Winner

RAFE

+29.73%

MHF

+4.71%

5Y(CAGR)

Winner

RAFE

+10.94%

MHF

+1.38%

10Y(CAGR)

RAFE

N/A

MHF

+2.59%

Max(CAGR)

Winner

RAFE

+12.55%

MHF

+4.94%

RAFE vs MHF - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

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

RAFE vs MHF Drawdown Comparison

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

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

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

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

Correlation

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

0.75

-101

Dividend Comparison (1999 - 2026)

RAFE vs MHF dividend yield comparison.

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