FLMI vs. HYD
Compare and contrast key facts about Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
FLMI and HYD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLMI is an actively managed fund by Franklin Templeton. It was launched on Aug 31, 2017. HYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. It was launched on Feb 4, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FLMI or HYD.
Key characteristics
| FLMI | HYD | |
|---|---|---|
| YTD Return | 0.73% | 0.59% |
| 1Y Return | 5.10% | 4.28% |
| 3Y Return (Ann) | -0.12% | -2.72% |
| 5Y Return (Ann) | 2.22% | -0.09% |
| Sharpe Ratio | 1.15 | 0.72 |
| Daily Std Dev | 4.90% | 6.56% |
| Max Drawdown | -14.66% | -35.60% |
| Current Drawdown | -2.76% | -10.58% |
Correlation
The correlation between FLMI and HYD is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
FLMI vs. HYD - Performance Comparison
In the year-to-date period, FLMI achieves a 0.73% return, which is significantly higher than HYD's 0.59% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FLMI vs. HYD - Expense Ratio Comparison
FLMI has a 0.30% expense ratio, which is lower than HYD's 0.35% expense ratio.
Risk-Adjusted Performance
FLMI vs. HYD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) and VanEck Vectors High-Yield Municipal Index ETF (HYD). 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.
Dividends
FLMI vs. HYD - Dividend Comparison
FLMI's dividend yield for the trailing twelve months is around 3.83%, less than HYD's 4.20% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 3.83% | 3.71% | 3.09% | 2.22% | 2.09% | 2.71% | 2.41% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.20% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 4.43% | 4.29% | 4.58% | 4.82% | 4.98% | 6.34% |
Drawdowns
FLMI vs. HYD - Drawdown Comparison
The maximum FLMI drawdown since its inception was -14.66%, smaller than the maximum HYD drawdown of -35.60%. Use the drawdown chart below to compare losses from any high point for FLMI and HYD. For additional features, visit the drawdowns tool.
Volatility
FLMI vs. HYD - Volatility Comparison
Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) has a higher volatility of 1.71% compared to VanEck Vectors High-Yield Municipal Index ETF (HYD) at 1.39%. This indicates that FLMI's price experiences larger fluctuations and is considered to be riskier than HYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.