FHTFX vs. THMBX

Last updated Jun 20, 2026

FHTFX (Federated Hermes Municipal High Yield Advtg Fd) and THMBX (Thrivent High Income Municipal Bond Fund) are both High Yield Muni funds. Over the past 5 years, FHTFX returned 0.69%/yr vs 0.57%/yr for THMBX. A 0.79 correlation means they provide meaningful diversification when combined. FHTFX charges 0.89%/yr vs 0.60%/yr for THMBX.

Performance

FHTFX vs. THMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Municipal High Yield Advtg Fd (FHTFX) and Thrivent High Income Municipal Bond Fund (THMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHTFX achieves a 2.41% return, which is significantly lower than THMBX's 2.76% return.

FHTFX

• 1D: 0.12%
• 1M: 1.85%
• YTD: 2.41%
• 6M: 2.79%
• 1Y: 7.77%
• 3Y*: 4.50%
• 5Y*: 0.69%
• 10Y*: 2.41%

THMBX

• 1D: 0.10%
• 1M: 2.05%
• YTD: 2.76%
• 6M: 3.28%
• 1Y: 8.56%
• 3Y*: 5.16%
• 5Y*: 0.57%
• 10Y*: —

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

FHTFX vs. THMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHTFX Federated Hermes Municipal High Yield Advtg Fd	2.41%	2.09%	5.67%	6.91%	-13.36%	5.47%	2.91%	9.76%	1.51%
THMBX Thrivent High Income Municipal Bond Fund	2.76%	2.83%	5.85%	7.01%	-15.19%	6.59%	3.18%	10.15%	2.50%

Correlation

The correlation between FHTFX and THMBX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018	0.79

The correlation between FHTFX and THMBX shifts across timeframes, from 0.71 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FHTFX vs. THMBX — Risk / Return Rank

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

FHTFX

FHTFX Risk / Return Rank: 91
FHTFX Sharpe Ratio Rank: 94
FHTFX Sortino Ratio Rank: 95
FHTFX Omega Ratio Rank: 95
FHTFX Calmar Ratio Rank: 86
FHTFX Martin Ratio Rank: 85

THMBX

THMBX Risk / Return Rank: 80
THMBX Sharpe Ratio Rank: 84
THMBX Sortino Ratio Rank: 91
THMBX Omega Ratio Rank: 91
THMBX Calmar Ratio Rank: 74
THMBX Martin Ratio Rank: 60

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.

FHTFX vs. THMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Municipal High Yield Advtg Fd (FHTFX) and Thrivent High Income Municipal Bond Fund (THMBX). 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.

	FHTFX	THMBX	Difference
Sharpe ratio: Return per unit of total volatility	2.96	2.52	+0.45
Sortino ratio: Return per unit of downside risk	4.80	4.19	+0.61
Omega ratio: Gain probability vs. loss probability	1.73	1.63	+0.10
Calmar ratio: Return relative to maximum drawdown	3.90	3.17	+0.73
Martin ratio: Return relative to average drawdown	14.67	11.19	+3.47

FHTFX vs. THMBX - Sharpe Ratio Comparison

The current FHTFX Sharpe Ratio is 2.96, which is comparable to the THMBX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FHTFX and THMBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FHTFX vs. THMBX - Drawdown Comparison

The maximum FHTFX drawdown since its inception was -27.61%, which is greater than THMBX's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for FHTFX and THMBX.

Drawdown Indicators

	FHTFX	THMBX	Difference
Max Drawdown Largest peak-to-trough decline	-27.61%	-21.08%	-6.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-2.71%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-7.60%	-7.31%	-0.29%
Max Drawdown (5Y) Largest decline over 5 years	-17.77%	-21.08%	+3.31%
Max Drawdown (10Y) Largest decline over 10 years	-17.77%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.66%	-5.36%	+2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	0.77%	+0.84%

Volatility

FHTFX vs. THMBX - Volatility Comparison

The current volatility for Federated Hermes Municipal High Yield Advtg Fd (FHTFX) is 0.64%, while Thrivent High Income Municipal Bond Fund (THMBX) has a volatility of 0.84%. This indicates that FHTFX experiences smaller price fluctuations and is considered to be less risky than THMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHTFX	THMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.84%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	2.05%	2.44%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.24%	3.41%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.15%	5.20%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.85%	5.75%	-0.90%

FHTFX vs. THMBX - Expense Ratio Comparison

FHTFX has a 0.89% expense ratio, which is higher than THMBX's 0.60% expense ratio.

Dividends

FHTFX vs. THMBX - Dividend Comparison

FHTFX's dividend yield for the trailing twelve months is around 3.39%, less than THMBX's 4.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHTFX Federated Hermes Municipal High Yield Advtg Fd	3.39%	3.02%	4.53%	3.81%	3.65%	3.14%	3.52%	3.88%	3.85%	3.88%	4.11%	4.02%
THMBX Thrivent High Income Municipal Bond Fund	4.29%	4.31%	4.10%	2.81%	3.11%	2.77%	2.92%	2.93%	2.78%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHTFX and THMBX in my portfolio?

FHTFX and THMBX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHTFX or THMBX?

THMBX has higher volatility (0.84%) compared to FHTFX (0.64%). In terms of maximum drawdown, FHTFX dropped -27.61% vs THMBX's -21.08%.

Which has better risk-adjusted returns?

FHTFX currently has the higher Sharpe Ratio (2.96 vs 2.52), 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.