BSSX vs. HYMB
BSSX (Invesco BulletShares 2033 Municipal Bond ETF) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both Municipal Bonds funds - BSSX tracks the Invesco BulletShares USD Municipal Bond 2033 Index while HYMB tracks the Bloomberg Municipal Yield. Both are passively managed. Over the past year, BSSX returned 6.84% vs 7.20% for HYMB. A 0.61 correlation means they provide meaningful diversification when combined. BSSX charges 0.18%/yr vs 0.35%/yr for HYMB.
Performance
BSSX vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, BSSX achieves a 1.04% return, which is significantly lower than HYMB's 3.44% return.
BSSX
- 1D
- -0.10%
- 1M
- 1.44%
- YTD
- 1.04%
- 6M
- 1.36%
- 1Y
- 6.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYMB
- 1D
- 0.00%
- 1M
- 1.79%
- YTD
- 3.44%
- 6M
- 3.40%
- 1Y
- 7.20%
- 3Y*
- 4.88%
- 5Y*
- 0.44%
- 10Y*
- 2.34%
BSSX vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BSSX Invesco BulletShares 2033 Municipal Bond ETF | 1.04% | 3.79% | -0.09% | 7.50% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 3.44% | 2.04% | 5.52% | 4.96% |
Correlation
The correlation between BSSX and HYMB is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2023 | 0.61 |
The correlation between BSSX and HYMB has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.
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Return for Risk
BSSX vs. HYMB — Risk / Return Rank
BSSX
HYMB
BSSX vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2033 Municipal Bond ETF (BSSX) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BSSX | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.37 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 2.33 | -0.23 |
| Martin ratioReturn relative to average drawdown | 6.39 | 8.25 | -1.85 |
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Drawdowns
BSSX vs. HYMB - Drawdown Comparison
The maximum BSSX drawdown since its inception was -8.12%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for BSSX and HYMB.
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Drawdown Indicators
| BSSX | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.12% | -29.57% | +21.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -3.11% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.44% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | -0.98% | 0.00% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -3.79% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 0.88% | +0.19% |
Volatility
BSSX vs. HYMB - Volatility Comparison
Invesco BulletShares 2033 Municipal Bond ETF (BSSX) has a higher volatility of 0.93% compared to SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) at 0.85%. This indicates that BSSX's price experiences larger fluctuations and is considered to be riskier than HYMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSSX | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.85% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 3.18% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.31% | 4.03% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.77% | 6.67% | +1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.77% | 11.36% | -3.59% |
BSSX vs. HYMB - Expense Ratio Comparison
BSSX has a 0.18% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Dividends
BSSX vs. HYMB - Dividend Comparison
BSSX's dividend yield for the trailing twelve months is around 3.59%, less than HYMB's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSSX Invesco BulletShares 2033 Municipal Bond ETF | 3.30% | 3.27% | 3.29% | 0.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.52% | 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
BSSX and HYMB have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSSX has higher volatility (0.93%) compared to HYMB (0.85%). In terms of maximum drawdown, BSSX dropped -8.12% vs HYMB's -29.57%.
On 1-year performance, HYMB leads with 7.20% vs 6.84% for BSSX. On fees, BSSX is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYMB has performed better with a 7.20% return vs 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSSX is cheaper with a 0.18% expense ratio, compared with 0.35% for HYMB.
HYMB has the higher dividend yield at 4.52%, compared with 3.59% for BSSX.
BSSX tracks Invesco BulletShares USD Municipal Bond 2033 Index, while HYMB tracks Bloomberg Municipal Yield. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.18% for BSSX and 0.35% for HYMB.
BSSX currently has the higher Sharpe Ratio (2.08 vs 1.79), 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.
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