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.
Performance
FLMI vs. HYD - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with FLMI having a 5.17% return and HYD slightly lower at 5.04%.
FLMI
5.17%
-0.59%
3.25%
10.69%
2.38%
N/A
HYD
5.04%
-0.48%
3.14%
10.56%
-0.08%
3.70%
Key characteristics
| FLMI | HYD | |
|---|---|---|
| Sharpe Ratio | 2.41 | 2.06 |
| Sortino Ratio | 3.66 | 2.98 |
| Omega Ratio | 1.51 | 1.41 |
| Calmar Ratio | 1.29 | 0.70 |
| Martin Ratio | 18.03 | 12.95 |
| Ulcer Index | 0.59% | 0.84% |
| Daily Std Dev | 4.44% | 5.29% |
| Max Drawdown | -14.66% | -35.60% |
| Current Drawdown | -0.99% | -6.63% |
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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.
Correlation
The correlation between FLMI and HYD is 0.54, 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.
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 4.04%, less than HYD's 4.23% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 4.04% | 3.71% | 3.09% | 2.22% | 2.09% | 2.71% | 2.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.23% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 14.47% | 4.29% | 4.58% | 4.83% | 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
The current volatility for Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) is 2.03%, while VanEck Vectors High-Yield Municipal Index ETF (HYD) has a volatility of 2.17%. This indicates that FLMI experiences smaller price fluctuations and is considered to be less risky than HYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.