CATF vs. HYMB
CATF (American Century California Municipal Bond ETF) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both Municipal Bonds funds. CATF is actively managed, while HYMB is passively managed. Over the past year, CATF returned 7.98% vs 7.43% for HYMB. A 0.76 correlation means they provide meaningful diversification when combined. CATF charges 0.27%/yr vs 0.35%/yr for HYMB.
Performance
CATF vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, CATF achieves a 1.92% return, which is significantly lower than HYMB's 2.87% return.
CATF
- 1D
- -0.15%
- 1M
- 0.55%
- YTD
- 1.92%
- 6M
- 1.99%
- 1Y
- 7.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYMB
- 1D
- -0.04%
- 1M
- 1.19%
- YTD
- 2.87%
- 6M
- 3.18%
- 1Y
- 7.43%
- 3Y*
- 5.09%
- 5Y*
- 0.42%
- 10Y*
- 2.46%
CATF vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CATF American Century California Municipal Bond ETF | 1.92% | 3.78% | 0.66% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 2.87% | 2.04% | 1.12% |
Correlation
The correlation between CATF and HYMB is 0.66, 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 | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024 | 0.76 |
The correlation between CATF and HYMB has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.
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Return for Risk
CATF vs. HYMB — Risk / Return Rank
CATF
HYMB
CATF vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century California Municipal Bond ETF (CATF) 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.
| CATF | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.37 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 2.40 | +0.49 |
| Martin ratioReturn relative to average drawdown | 10.17 | 8.51 | +1.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CATF | HYMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.55 | 1.84 | +0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.06 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.45 | +0.34 |
Drawdowns
CATF vs. HYMB - Drawdown Comparison
The maximum CATF drawdown since its inception was -4.83%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for CATF and HYMB.
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Drawdown Indicators
| CATF | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.83% | -29.57% | +24.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -3.11% | +0.34% |
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 | -0.58% | -0.04% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -3.81% | +2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.88% | -0.09% |
Volatility
CATF vs. HYMB - Volatility Comparison
The current volatility for American Century California Municipal Bond ETF (CATF) is 1.06%, while SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a volatility of 1.35%. This indicates that CATF experiences smaller price fluctuations and is considered to be less risky 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
| CATF | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.35% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.18% | 3.14% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 4.05% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.33% | 6.66% | -2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.33% | 11.36% | -7.03% |
CATF vs. HYMB - Expense Ratio Comparison
CATF has a 0.27% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Dividends
CATF vs. HYMB - Dividend Comparison
CATF's dividend yield for the trailing twelve months is around 3.22%, less than HYMB's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CATF American Century California Municipal Bond ETF | 3.22% | 3.40% | 1.32% | 0.00% | 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 | 4.54% | 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
CATF and HYMB have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYMB has higher volatility (1.35%) compared to CATF (1.06%). In terms of maximum drawdown, CATF dropped -4.83% vs HYMB's -29.57%.
On 1-year performance, CATF leads with 7.98% vs 7.43% for HYMB. On fees, CATF is cheaper at 0.27% per year. On volatility, CATF has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CATF has performed better with a 7.98% return vs 7.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CATF is cheaper with a 0.27% expense ratio, compared with 0.35% for HYMB.
HYMB has the higher dividend yield at 4.54%, compared with 3.22% for CATF.
They also come from different issuers: American Century and State Street. Their fees differ too: 0.27% for CATF and 0.35% for HYMB.
CATF currently has the higher Sharpe Ratio (2.55 vs 1.84), 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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