ANGL vs. HYMB

Last updated Jun 9, 2026

ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both exchange-traded funds - ANGL is a High Yield Bonds fund tracking the BofA Merrill Lynch US Fallen Angel High Yield Index, while HYMB is a Municipal Bonds fund tracking the Bloomberg Municipal Yield. Both are passively managed. Over the past 10 years, ANGL returned 6.13%/yr vs 2.35%/yr for HYMB. At a 0.21 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

ANGL vs. HYMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANGL achieves a 1.27% return, which is significantly lower than HYMB's 2.75% return. Over the past 10 years, ANGL has outperformed HYMB with an annualized return of 6.13%, while HYMB has yielded a comparatively lower 2.35% annualized return.

ANGL

• 1D: 0.03%
• 1M: -0.23%
• YTD: 1.27%
• 6M: 1.74%
• 1Y: 7.79%
• 3Y*: 8.23%
• 5Y*: 3.26%
• 10Y*: 6.13%

HYMB

• 1D: -0.12%
• 1M: 0.38%
• YTD: 2.75%
• 6M: 2.85%
• 1Y: 7.57%
• 3Y*: 5.11%
• 5Y*: 0.31%
• 10Y*: 2.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ANGL vs. HYMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF	1.27%	9.04%	6.06%	12.52%	-14.26%	6.84%	13.20%	18.06%	-5.84%	9.71%
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	2.75%	2.04%	5.52%	7.73%	-15.54%	5.16%	3.74%	9.51%	4.91%	3.22%

Correlation

The correlation between ANGL and HYMB is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Apr 12, 2012	0.21

Over the past year, ANGL and HYMB have become more correlated (0.46) than their long-term average of 0.21, meaning their price movements have been converging.

ANGL vs. HYMB - Sectors Allocation Comparison

Sectors	ANGL	HYMB
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	100.0%

Return for Risk

ANGL vs. HYMB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ANGL

ANGL Risk / Return Rank: 56
ANGL Sharpe Ratio Rank: 60
ANGL Sortino Ratio Rank: 61
ANGL Omega Ratio Rank: 65
ANGL Calmar Ratio Rank: 43
ANGL Martin Ratio Rank: 52

HYMB

HYMB Risk / Return Rank: 62
HYMB Sharpe Ratio Rank: 62
HYMB Sortino Ratio Rank: 64
HYMB Omega Ratio Rank: 72
HYMB Calmar Ratio Rank: 55
HYMB Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ANGL vs. HYMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ANGL	HYMB	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.88	-0.08
Sortino ratio: Return per unit of downside risk	2.58	2.69	-0.12
Omega ratio: Gain probability vs. loss probability	1.35	1.38	-0.03
Calmar ratio: Return relative to maximum drawdown	1.93	2.45	-0.52
Martin ratio: Return relative to average drawdown	8.09	8.67	-0.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ANGL vs. HYMB - Sharpe Ratio Comparison

The current ANGL Sharpe Ratio is 1.81, which is comparable to the HYMB Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of ANGL and HYMB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ANGL	HYMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	1.88	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.05	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.21	+0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.45	+0.29

Drawdowns

ANGL vs. HYMB - Drawdown Comparison

The maximum ANGL drawdown since its inception was -29.31%, roughly equal to the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for ANGL and HYMB.

Drawdown Indicators

	ANGL	HYMB	Difference
Max Drawdown Largest peak-to-trough decline	-29.31%	-29.57%	+0.26%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	-3.11%	-0.94%
Max Drawdown (3Y) Largest decline over 3 years	-5.48%	-7.44%	+1.96%
Max Drawdown (5Y) Largest decline over 5 years	-19.25%	-20.15%	+0.90%
Max Drawdown (10Y) Largest decline over 10 years	-29.31%	-29.57%	+0.26%
Current Drawdown Current decline from peak	-0.58%	-0.32%	-0.26%
Average Drawdown Average peak-to-trough decline	-3.30%	-3.80%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.88%	+0.08%

Volatility

ANGL vs. HYMB - Volatility Comparison

VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) have volatilities of 1.35% and 1.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANGL	HYMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.34%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	3.50%	3.15%	+0.35%
Volatility (1Y) Calculated over the trailing 1-year period	4.34%	4.05%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.63%	6.66%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.28%	11.36%	-2.08%

ANGL vs. HYMB - Expense Ratio Comparison

Both ANGL and HYMB have an expense ratio of 0.35%.

Dividends

ANGL vs. HYMB - Dividend Comparison

ANGL's dividend yield for the trailing twelve months is around 6.39%, more than HYMB's 4.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF	6.39%	6.20%	6.29%	5.27%	4.72%	3.90%	4.67%	5.19%	5.99%	5.25%	5.34%	5.81%
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	4.55%	4.55%	4.29%	4.07%	3.77%	3.19%	3.55%	3.95%	4.03%	3.78%	4.08%	4.54%

Frequently Asked Questions

Can I hold both ANGL and HYMB in my portfolio?

ANGL and HYMB have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANGL or HYMB?

ANGL has higher volatility (1.35%) compared to HYMB (1.34%). In terms of maximum drawdown, ANGL dropped -29.31% vs HYMB's -29.57%.

Which ETF is better, ANGL or HYMB?

On 10-year performance, ANGL leads with 6.13% vs 2.35% for HYMB. Both ETFs have the same 0.35% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ANGL or HYMB?

Over the 10-year period, ANGL has performed better with a 6.13% return vs 2.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ANGL or HYMB?

ANGL and HYMB have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, ANGL or HYMB?

ANGL has the higher dividend yield at 6.39%, compared with 4.55% for HYMB.

What is the main difference between ANGL and HYMB?

ANGL is categorized as High Yield Bonds, while HYMB is Municipal Bonds. ANGL tracks BofA Merrill Lynch US Fallen Angel High Yield Index, while HYMB tracks Bloomberg Municipal Yield. They also come from different issuers: VanEck and State Street.

Which has better risk-adjusted returns?

HYMB currently has the higher Sharpe Ratio (1.88 vs 1.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.