DHMBX vs. ABTYX
DHMBX (BNY Mellon High Yield Municipal Bond Fund) and ABTYX (AB High Income Municipal Portfolio) are both High Yield Muni funds. Over the past 10 years, DHMBX returned 2.36%/yr vs 2.83%/yr for ABTYX. Their correlation of 0.82 suggests significant overlap in exposure. DHMBX charges 0.69%/yr vs 0.53%/yr for ABTYX.
Performance
DHMBX vs. ABTYX - Performance Comparison
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Returns By Period
In the year-to-date period, DHMBX achieves a 3.32% return, which is significantly higher than ABTYX's 2.52% return. Over the past 10 years, DHMBX has underperformed ABTYX with an annualized return of 2.36%, while ABTYX has yielded a comparatively higher 2.83% annualized return.
DHMBX
- 1D
- 0.09%
- 1M
- 2.07%
- YTD
- 3.32%
- 6M
- 3.89%
- 1Y
- 8.83%
- 3Y*
- 4.64%
- 5Y*
- -0.32%
- 10Y*
- 2.36%
ABTYX
- 1D
- 0.00%
- 1M
- 2.34%
- YTD
- 2.52%
- 6M
- 3.12%
- 1Y
- 8.78%
- 3Y*
- 5.40%
- 5Y*
- 0.63%
- 10Y*
- 2.83%
DHMBX vs. ABTYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHMBX BNY Mellon High Yield Municipal Bond Fund | 3.32% | 2.64% | 4.41% | 6.50% | -17.25% | 5.58% | 2.85% | 10.76% | 1.64% | 12.78% |
ABTYX AB High Income Municipal Portfolio | 2.52% | 5.88% | 4.64% | 5.49% | -15.49% | 5.73% | 5.08% | 11.31% | 1.02% | 10.22% |
Correlation
The correlation between DHMBX and ABTYX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2010 | 0.82 |
The correlation between DHMBX and ABTYX has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.
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Return for Risk
DHMBX vs. ABTYX — Risk / Return Rank
DHMBX
ABTYX
DHMBX vs. ABTYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Municipal Bond Fund (DHMBX) and AB High Income Municipal Portfolio (ABTYX). 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.
| DHMBX | ABTYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.51 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.34 | +0.33 |
| Martin ratioReturn relative to average drawdown | 8.73 | 7.86 | +0.87 |
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Drawdowns
DHMBX vs. ABTYX - Drawdown Comparison
The maximum DHMBX drawdown since its inception was -27.66%, which is greater than ABTYX's maximum drawdown of -21.44%. Use the drawdown chart below to compare losses from any high point for DHMBX and ABTYX.
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Drawdown Indicators
| DHMBX | ABTYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.66% | -21.44% | -6.22% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -3.82% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -9.55% | -9.37% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | -21.44% | -1.46% |
Max Drawdown (10Y)Largest decline over 10 years | -22.90% | -21.44% | -1.46% |
Current DrawdownCurrent decline from peak | -2.81% | -0.13% | -2.68% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -3.95% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 1.13% | -0.12% |
Volatility
DHMBX vs. ABTYX - Volatility Comparison
BNY Mellon High Yield Municipal Bond Fund (DHMBX) and AB High Income Municipal Portfolio (ABTYX) have volatilities of 1.00% and 1.01%, 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.
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Volatility by Period
| DHMBX | ABTYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.01% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 2.89% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 3.87% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 6.06% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 5.62% | +0.44% |
DHMBX vs. ABTYX - Expense Ratio Comparison
DHMBX has a 0.69% expense ratio, which is higher than ABTYX's 0.53% expense ratio.
Dividends
DHMBX vs. ABTYX - Dividend Comparison
DHMBX's dividend yield for the trailing twelve months is around 3.99%, less than ABTYX's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABTYX AB High Income Municipal Portfolio | 4.60% | 5.93% | 4.15% | 3.10% | 3.91% | 2.59% | 3.70% | 4.27% | 4.60% | 4.20% | 4.48% | 4.69% |
DHMBX BNY Mellon High Yield Municipal Bond Fund | 3.99% | 5.37% | 3.96% | 3.13% | 3.09% | 2.47% | 3.46% | 4.19% | 4.13% | 3.66% | 4.95% | 4.50% |
Frequently Asked Questions
DHMBX and ABTYX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ABTYX has higher volatility (1.01%) compared to DHMBX (1.00%). In terms of maximum drawdown, DHMBX dropped -27.66% vs ABTYX's -21.44%.
DHMBX currently has the higher Sharpe Ratio (2.34 vs 2.31), 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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