MuleSoft's strength API-led connectivity and event-driven orchestration. It is the ideal bridge for connecting operational systems, but it is not the best tool for ETL and data governance workflows. Informatica's core strength is ETL and data governance, but is not the leading platform for building application networks. Even Data 360 does not have the strongest data governance tooling, and new data governance features in the roadmap will likely leverage Informatica's capabilities there.
Check out this architectural overview for more info.