DHMBX vs. NHMRX
DHMBX (BNY Mellon High Yield Municipal Bond Fund) and NHMRX (Nuveen High Yield Municipal Bond Fund) are both High Yield Muni funds. Over the past 10 years, DHMBX returned 2.36%/yr vs 3.62%/yr for NHMRX. A 0.78 correlation means they provide meaningful diversification when combined. DHMBX charges 0.69%/yr vs 0.52%/yr for NHMRX.
Performance
DHMBX vs. NHMRX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with DHMBX having a 3.32% return and NHMRX slightly higher at 3.47%. Over the past 10 years, DHMBX has underperformed NHMRX with an annualized return of 2.36%, while NHMRX has yielded a comparatively higher 3.62% 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%
NHMRX
- 1D
- 0.14%
- 1M
- 2.53%
- YTD
- 3.47%
- 6M
- 4.18%
- 1Y
- 9.37%
- 3Y*
- 4.96%
- 5Y*
- 1.01%
- 10Y*
- 3.62%
DHMBX vs. NHMRX - 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% |
NHMRX Nuveen High Yield Municipal Bond Fund | 3.47% | 2.75% | 5.62% | 7.31% | -14.96% | 9.93% | 3.25% | 12.59% | 2.06% | 12.10% |
Correlation
The correlation between DHMBX and NHMRX is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2005 | 0.78 |
The correlation between DHMBX and NHMRX shifts across timeframes, from 0.78 (all time) to 0.90 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DHMBX vs. NHMRX — Risk / Return Rank
DHMBX
NHMRX
DHMBX vs. NHMRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Municipal Bond Fund (DHMBX) and Nuveen High Yield Municipal Bond Fund (NHMRX). 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 | NHMRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.50 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.64 | +0.03 |
| Martin ratioReturn relative to average drawdown | 8.73 | 7.99 | +0.74 |
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Drawdowns
DHMBX vs. NHMRX - Drawdown Comparison
The maximum DHMBX drawdown since its inception was -27.66%, smaller than the maximum NHMRX drawdown of -45.45%. Use the drawdown chart below to compare losses from any high point for DHMBX and NHMRX.
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Drawdown Indicators
| DHMBX | NHMRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.66% | -45.45% | +17.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -3.58% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -9.55% | -10.19% | +0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | -21.52% | -1.38% |
Max Drawdown (10Y)Largest decline over 10 years | -22.90% | -22.22% | -0.68% |
Current DrawdownCurrent decline from peak | -2.81% | 0.00% | -2.81% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -5.32% | +0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 1.18% | -0.17% |
Volatility
DHMBX vs. NHMRX - Volatility Comparison
BNY Mellon High Yield Municipal Bond Fund (DHMBX) and Nuveen High Yield Municipal Bond Fund (NHMRX) have volatilities of 1.00% and 1.03%, 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 | NHMRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.03% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 3.06% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 4.40% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 6.85% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 6.73% | -0.67% |
DHMBX vs. NHMRX - Expense Ratio Comparison
DHMBX has a 0.69% expense ratio, which is higher than NHMRX's 0.52% expense ratio.
Dividends
DHMBX vs. NHMRX - Dividend Comparison
DHMBX's dividend yield for the trailing twelve months is around 3.99%, less than NHMRX's 5.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NHMRX Nuveen High Yield Municipal Bond Fund | 5.61% | 6.07% | 5.79% | 7.34% | 5.64% | 4.69% | 5.03% | 5.39% | 5.47% | 5.38% | 5.88% | 5.60% |
Frequently Asked Questions
DHMBX and NHMRX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NHMRX has higher volatility (1.03%) compared to DHMBX (1.00%). In terms of maximum drawdown, DHMBX dropped -27.66% vs NHMRX's -45.45%.
DHMBX currently has the higher Sharpe Ratio (2.34 vs 2.15), 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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