EVYM vs. THYM

Last updated Jun 5, 2026

EVYM (Eaton Vance High Income Municipal ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both High Yield Muni funds. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. EVYM charges 0.40%/yr vs 0.32%/yr for THYM.

Performance

EVYM vs. THYM - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with EVYM having a 3.53% return and THYM slightly higher at 3.70%.

EVYM

• 1D: 0.23%
• 1M: 1.19%
• YTD: 3.53%
• 6M: 4.17%
• 1Y: 10.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYM

• 1D: 0.36%
• 1M: 1.53%
• YTD: 3.70%
• 6M: 4.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVYM vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
EVYM Eaton Vance High Income Municipal ETF	3.53%	0.45%
THYM T. Rowe Price High Income Municipal ETF	3.70%	0.27%

Correlation

The correlation between EVYM and THYM is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.79

Return for Risk

EVYM vs. THYM — Risk / Return Rank

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

EVYM

EVYM Risk / Return Rank: 85
EVYM Sharpe Ratio Rank: 87
EVYM Sortino Ratio Rank: 92
EVYM Omega Ratio Rank: 92
EVYM Calmar Ratio Rank: 76
EVYM Martin Ratio Rank: 76

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.

EVYM vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Income Municipal ETF (EVYM) 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.

	EVYM	THYM	Difference
Sharpe ratio: Return per unit of total volatility	2.85	—	—
Sortino ratio: Return per unit of downside risk	4.42	—	—
Omega ratio: Gain probability vs. loss probability	1.60	—	—
Calmar ratio: Return relative to maximum drawdown	3.79	—	—
Martin ratio: Return relative to average drawdown	14.36	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EVYM	THYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	1.77	-0.82

Drawdowns

EVYM vs. THYM - Drawdown Comparison

The maximum EVYM drawdown since its inception was -6.08%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for EVYM and THYM.

Drawdown Indicators

	EVYM	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-6.08%	-2.93%	-3.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.48%	-0.49%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	—	—

Volatility

Volatility by Period

	EVYM	THYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	4.35%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.07%	4.35%	+1.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.07%	4.35%	+1.72%

EVYM vs. THYM - Expense Ratio Comparison

EVYM has a 0.40% expense ratio, which is higher than THYM's 0.32% expense ratio.

Dividends

EVYM vs. THYM - Dividend Comparison

EVYM's dividend yield for the trailing twelve months is around 4.77%, more than THYM's 2.18% yield.

Position	TTM	2025
EVYM Eaton Vance High Income Municipal ETF	4.77%	3.72%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%

Frequently Asked Questions

Can I hold both EVYM and THYM in my portfolio?

EVYM and THYM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVYM or THYM?

On fees, THYM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVYM or THYM?

THYM is cheaper with a 0.32% expense ratio, compared with 0.40% for EVYM.

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

EVYM has the higher dividend yield at 4.77%, compared with 2.18% for THYM.

What is the main difference between EVYM and THYM?

They also come from different issuers: Eaton Vance and T. Rowe Price. Their fees differ too: 0.40% for EVYM and 0.32% for THYM.