CA vs. THYM

Last updated Jul 28, 2026

CA (Xtrackers California Municipal Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - CA is a Municipal Bonds fund tracking the ICE AMT-Free Broad Liquid California Municipal Index, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. CA is passively managed, while THYM is actively managed. Their 0.37 correlation means their historical movements had little consistent relationship. CA charges 0.20%/yr vs 0.32%/yr for THYM.

Performance

CA vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers California Municipal Bond ETF (CA) and T. Rowe Price High Income Municipal ETF (THYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CA achieves a 1.20% return, which is significantly lower than THYM's 2.48% return.

CA

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.89%
• YTD: 1.20%
• 1Y: 6.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.51%

THYM

• 1D: 0.33%
• 1M: -1.50%
• 6M: 1.71%
• YTD: 2.48%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CA Xtrackers California Municipal Bond ETF	$0.00	$0.00	$4.72K
THYM T. Rowe Price High Income Municipal ETF	$92.95K	$124.03K	$118.58K

CA vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
CA Xtrackers California Municipal Bond ETF	1.20%	0.10%
THYM T. Rowe Price High Income Municipal ETF	2.48%	0.25%

Correlation

The correlation between CA and THYM is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.37

Return for Risk

CA vs. THYM — Risk / Return Rank

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

CA

CA Risk / Return Rank: 88
CA Sharpe Ratio Rank: 95
CA Sortino Ratio Rank: 96
CA Omega Ratio Rank: 97
CA Calmar Ratio Rank: 73
CA Martin Ratio Rank: 76

THYM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

CA vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers California Municipal Bond ETF (CA) and T. Rowe Price High Income Municipal ETF (THYM). 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.

	CA	THYM	Difference
Sharpe ratio: Return per unit of total volatility	2.84	—	—
Sortino ratio: Return per unit of downside risk	4.30	—	—
Omega ratio: Gain probability vs. loss probability	1.75	—	—
Calmar ratio: Return relative to maximum drawdown	2.63	—	—
Martin ratio: Return relative to average drawdown	9.55	—	—

Drawdowns

CA vs. THYM - Drawdown Comparison

The maximum CA drawdown since its inception was -5.24%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for CA and THYM.

Drawdown Indicators

	CA	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-5.24%	-2.93%	-2.31%
Max Drawdown (1Y) Largest decline over 1 year	-2.57%	—	—
Current Drawdown Current decline from peak	-0.75%	-2.10%	+1.35%
Average Drawdown Average peak-to-trough decline	-1.24%	-0.51%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	—	—

Volatility

Volatility by Period

	CA	THYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.38%	4.40%	-2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.87%	4.40%	-0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.87%	4.40%	-0.53%

CA vs. THYM - Expense Ratio Comparison

CA has a 0.20% expense ratio, which is lower than THYM's 0.32% expense ratio.

Dividends

CA vs. THYM - Dividend Comparison

CA's dividend yield for the trailing twelve months is around 2.69%, more than THYM's 2.60% yield.

Position	TTM	2025	2024
CA Xtrackers California Municipal Bond ETF	2.69%	3.14%	3.03%
THYM T. Rowe Price High Income Municipal ETF	2.60%	0.37%	0.00%

Frequently Asked Questions

Can I hold both CA and THYM in my portfolio?

CA and THYM have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CA or THYM?

On fees, CA is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CA or THYM?

CA is cheaper with a 0.20% expense ratio, compared with 0.32% for THYM.

Which ETF pays a higher dividend yield, CA or THYM?

CA has the higher dividend yield at 2.69%, compared with 2.60% for THYM.

What is the main difference between CA and THYM?

CA is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: Xtrackers and T. Rowe Price. Their fees differ too: 0.20% for CA and 0.32% for THYM.