FLMI vs. SHYD
Compare and contrast key facts about Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) and VanEck Short High Yield Muni ETF (SHYD).
FLMI and SHYD 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. SHYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Municipal High Yield Short Duration. It was launched on Jan 13, 2014.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FLMI or SHYD.
Performance
FLMI vs. SHYD - Performance Comparison
Returns By Period
In the year-to-date period, FLMI achieves a 5.17% return, which is significantly higher than SHYD's 4.79% return.
FLMI
5.17%
-0.59%
3.25%
10.69%
2.38%
N/A
SHYD
4.79%
-0.56%
3.18%
7.97%
0.78%
1.83%
Key characteristics
| FLMI | SHYD | |
|---|---|---|
| Sharpe Ratio | 2.41 | 1.79 |
| Sortino Ratio | 3.66 | 2.65 |
| Omega Ratio | 1.51 | 1.32 |
| Calmar Ratio | 1.29 | 0.72 |
| Martin Ratio | 18.03 | 14.25 |
| Ulcer Index | 0.59% | 0.52% |
| Daily Std Dev | 4.44% | 4.16% |
| Max Drawdown | -14.66% | -31.22% |
| Current Drawdown | -0.99% | -3.07% |
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FLMI vs. SHYD - Expense Ratio Comparison
FLMI has a 0.30% expense ratio, which is lower than SHYD's 0.35% expense ratio.
Correlation
The correlation between FLMI and SHYD is 0.41, 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. SHYD - 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 Short High Yield Muni ETF (SHYD). 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. SHYD - Dividend Comparison
FLMI's dividend yield for the trailing twelve months is around 4.04%, more than SHYD's 3.10% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SHYD VanEck Short High Yield Muni ETF | 3.10% | 2.99% | 2.67% | 2.57% | 3.06% | 3.20% | 3.19% | 3.11% | 2.97% | 3.26% | 2.91% |
Drawdowns
FLMI vs. SHYD - Drawdown Comparison
The maximum FLMI drawdown since its inception was -14.66%, smaller than the maximum SHYD drawdown of -31.22%. Use the drawdown chart below to compare losses from any high point for FLMI and SHYD. For additional features, visit the drawdowns tool.
Volatility
FLMI vs. SHYD - Volatility Comparison
Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) has a higher volatility of 2.03% compared to VanEck Short High Yield Muni ETF (SHYD) at 1.37%. This indicates that FLMI's price experiences larger fluctuations and is considered to be riskier than SHYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.