BlackRock Intermediate Muni Income Bond ETF (INMU) Performance
INMU total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.4% since Dec 31, 2025
- 1 year
- +0.7% total return
- 5 years
- +1.5% a year
- Since first price
- +1.7% a year since 2021
INMU trailing returns vs AGG, TLT, SPY
| Period | INMU total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +2.2% | +1.9% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.1% | −1.0% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.0% | −2.6% | −1.5% | −3.8% | +7.8% |
| YTD | +0.4% | −2.1% | −1.0% | −3.4% | +12.3% |
| 1 year | +0.7% | −2.6% | −1.1% | −6.9% | +14.4% |
| 3 years | +16.5%+5.2%/yr | +5.1% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +7.7%+1.5%/yr | −7.7% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionMar 18, 2021 | +9.9%+1.7%/yr | −6.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: INMU vs AGG
From Mar 18, 2021: INMU grew to $10,993, AGG to $10,084.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
INMU returns by calendar year
3 of 4 full years positive. Best 2023 (+6.5%), worst 2022 (−7.8%). 2026 is year to date.
INMU annual returns table
| Year | INMU | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +0.4% | −5.7% | −1.0% | −3.4% | +12.3% |
| 2025 | +5.5% | −3.6% | +7.2% | +4.3% | +17.7% |
| 2024 | +2.8% | −2.1% | +1.3% | −8.1% | +24.9% |
| 2023 | +6.5% | −5.0% | +5.7% | +2.8% | +26.2% |
| 2022 | −7.8% | −10.4% | −13.0% | −31.2% | −18.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
INMU largest drawdowns
Now 2.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 5, 2021 | −10.7% | Oct 31, 2022 | Jul 31, 2024 | 1.2 years | 3.0 years |
| Feb 27, 2026 | −5.7% | Sep 29, 2026 | not yet | 7 months | 8 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
INMU risk statistics
| Statistic | 3 years | 5 years | Since 2021 |
|---|---|---|---|
| Annualized return | +4.0% | +0.8% | +1.1% |
| Volatility (annualized) | 5.2% | 5.5% | 5.3% |
| Sharpe ratio | -0.06 | -0.49 | -0.39 |
| Sortino ratio | -0.09 | -0.64 | -0.51 |
| Best month | +5.9% | +5.9% | +5.9% |
| Worst month | −3.1% | −3.6% | −3.6% |
| Best 12 months | +11.0% | +11.0% | +11.0% |
| Worst 12 months | −1.1% | −9.9% | −9.9% |
| Positive months | 69% | 58% | 59% |
| Beta vs S&P 500 | 0.26 | 0.23 | — |
| Correlation with S&P 500 | 0.63 | 0.65 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
INMU rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 56 | −9.9% | +3.1% | +11.0% | 75% |
| 3-year (a year) | 32 | −0.3% | +2.8% | +5.8% | 91% |
| 5-year (a year) | 8 | +0.8% | +1.6% | +1.8% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
INMU performance overview
BlackRock Intermediate Muni Income Bond ETF (INMU) returned +0.7% over the past year and +1.5% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +1.7% a year, turning $10,000 into about $10,993. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −10.7%, from Aug 5, 2021 to Oct 31, 2022, and it took 1.7 years to get back to the old high. INMU finished 3 of its 4 full calendar years with a gain; the best year was 2023 (+6.5%) and the worst 2022 (−7.8%). Volatility has been 5.3% a year.
Related: INMU chart, INMU dividends, INMU bond profile. See the INMU overview for the latest quote and fund facts.
INMU performance FAQ
What is the INMU return over the past year?
INMU returned +0.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.6%.
What is the average annual return of INMU?
INMU has returned +1.5% a year over 5 years, +1.7% a year since March 18, 2021 (total return, distributions reinvested).
How much would $10,000 invested in INMU be worth?
$10,000 invested in INMU at its first recorded close on March 18, 2021 would be worth about $10,993 on October 23, 2026 with distributions reinvested.
What was the worst year for INMU?
The worst calendar year was 2022, with a total return of −7.8%. The best was 2023 at +6.5%.
What is the biggest drawdown of INMU?
The largest peak-to-trough decline was −10.7% between August 5, 2021 and October 31, 2022. It recovered to the old high on July 31, 2024, 1.7 years after the bottom.
How volatile is INMU?
Over the past 3 years INMU had an annualized volatility of 5.2% and a Sharpe ratio of -0.06 (excess return over 1–3 month T-bills per unit of risk).