ZMUN vs SAA

Comparison between F/M CALLABLE TAX-FREE MUNICIPAL ETF (ZMUN, ETF) and PROSHARES ULTRA SMALLCAP600 (SAA, ETF).

ZMUN vs SAA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ZMUN(ETF)	SAA(ETF)
Net Assets	$27M	$27M
Expense Ratio	0.30%	N/A
Max Drawdown	0.45%	88.08%
Sharpe Ratio	-0.56	1.36
5Y Beta	0.00	2.09
P/E Ratio	N/A	39.48
Forward P/E	N/A	15.45
5Y Dividends CAGR	N/A	117.49%
5Y EPS CAGR	N/A	10.26%
Debt to Equity	N/A	59.19%
P/S Ratio	N/A	1.23
P/B Ratio	N/A	2.11

Net Assets

ZMUN

$27M

SAA

$27M

Expense Ratio

ZMUN

0.30%

SAA

N/A

Max Drawdown

Winner

ZMUN

0.45%

SAA

88.08%

Sharpe Ratio

ZMUN

-0.56

Winner

SAA

1.36

5Y Beta

Winner

ZMUN

0.00

SAA

2.09

P/E Ratio

ZMUN

N/A

SAA

39.48

Forward P/E

ZMUN

N/A

SAA

15.45

5Y Dividends CAGR

ZMUN

N/A

SAA

117.49%

5Y EPS CAGR

ZMUN

N/A

SAA

10.26%

Debt to Equity

ZMUN

N/A

SAA

59.19%

P/S Ratio

ZMUN

N/A

SAA

1.23

P/B Ratio

ZMUN

N/A

SAA

2.11

ZMUN vs SAA - Historical Returns

Returns include dividend reinvestment.

Period	ZMUN	SAA
1 month	+0.28%	+11.04%
3 months	+0.88%	+35.63%
6 months	+1.84%	+30.47%
1 year	N/A	+65.40%
5 years(CAGR)	N/A	+2.37%
10 years(CAGR)	N/A	+12.47%
Max(CAGR)	+3.48%	+9.26%

ZMUN

+0.28%

Winner

SAA

+11.04%

ZMUN

+0.88%

Winner

SAA

+35.63%

ZMUN

+1.84%

Winner

SAA

+30.47%

ZMUN

N/A

SAA

+65.40%

5Y(CAGR)

ZMUN

N/A

SAA

+2.37%

10Y(CAGR)

ZMUN

N/A

SAA

+12.47%

Max(CAGR)

ZMUN

+3.48%

Winner

SAA

+9.26%

ZMUN vs SAA - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	ZMUN	SAA
2026	+1.66%	+35.30%
2025	+0.73%	+0.70%
2024	N/A	+7.64%
2023	N/A	+21.78%
2022	N/A	-37.46%
2021	N/A	+55.07%
2020	N/A	-1.51%
2019	N/A	+41.10%
2018	N/A	-22.64%
2017	N/A	+22.20%
2016	N/A	+61.96%
2015	N/A	-3.21%
2014	N/A	+10.10%
2013	N/A	+83.35%
2012	N/A	+26.34%
2011	N/A	-12.50%
2010	N/A	+43.64%
2009	N/A	+34.56%
2008	N/A	-61.19%
2007	N/A	-11.08%

ZMUN vs SAA Drawdown Comparison

The maximum drawdown for ZMUN was -0.08%, occurring on Nov 5, 2025. Recovery took 9 trading sessions.

The maximum drawdown for SAA was -87.40%, occurring on Mar 9, 2009. Recovery took 1535 trading sessions.

Rank	ZMUN	SAA
#1	-0.08% Oct 28, 2025 - Nov 10, 2025	-87.40% Jun 4, 2007 - Jul 9, 2013
#2	-0.07% May 4, 2026 - May 11, 2026	-74.54% Aug 31, 2018 - Feb 5, 2021
#3	-0.07% Mar 4, 2026 - Mar 12, 2026	-55.35% Nov 5, 2021 - Jun 11, 2026
#4	-0.06% Jan 27, 2026 - Feb 4, 2026	-37.45% Jun 22, 2015 - Aug 15, 2016
#5	-0.05% Oct 3, 2025 - Oct 15, 2025	-22.75% Jul 1, 2014 - Dec 24, 2014
#6	-0.05% Apr 28, 2026 - May 1, 2026	-19.42% Jun 8, 2021 - Nov 3, 2021
#7	-0.05% Jun 9, 2026 - Jun 12, 2026	-18.47% Mar 12, 2021 - Jun 8, 2021
#8	-0.05% Feb 18, 2026 - Feb 23, 2026	-17.00% Jan 23, 2018 - May 10, 2018
#9	-0.04% Apr 2, 2026 - Apr 8, 2026	-15.91% Feb 22, 2007 - Apr 16, 2007
#10	-0.04% Apr 9, 2026 - Apr 16, 2026	-15.05% Sep 22, 2016 - Nov 11, 2016
#11	-0.04% Jan 20, 2026 - Jan 26, 2026	-14.53% Dec 26, 2013 - Mar 4, 2014
#12	-0.04% Apr 17, 2026 - Apr 24, 2026	-14.53% Mar 18, 2014 - Jul 1, 2014
#13	-0.03% Feb 10, 2026 - Feb 13, 2026	-13.05% Jul 25, 2017 - Sep 26, 2017
#14	-0.03% Nov 11, 2025 - Nov 18, 2025	-10.58% Jan 4, 2017 - Apr 26, 2017
#15	-0.03% Jan 9, 2026 - Jan 13, 2026	-10.28% Apr 26, 2017 - Jul 19, 2017

Correlation

Correlation between ZMUN and SAA is 0.91 which considered as a very strong positive correlation - the stocks move almost identically together.

0.91

-101

Dividend Comparison (2007 - 2026)

ZMUN vs SAA dividend yield comparison.

Year	ZMUN	SAA
2026	1.58%	0.11%
2025	0.70%	1.05%
2024	0.00%	1.36%
2023	0.00%	0.88%
2022	0.00%	0.46%
2020	0.00%	0.03%
2019	0.00%	0.35%
2018	0.00%	0.27%
2016	0.00%	0.14%
2012	0.00%	0.05%
2011	0.00%	0.01%
2010	0.00%	0.02%
2009	0.00%	0.16%
2008	0.00%	1.00%
2007	0.00%	5.29%