FMHI vs. HYMU

Last updated Jun 3, 2026

FMHI (First Trust Municipal High Income ETF) and HYMU (BlackRock High Yield Muni Income Bond ETF) are both exchange-traded funds - FMHI is a Municipal Bonds fund actively managed by First Trust, while HYMU is a High Yield Muni fund actively managed by BlackRock. Both are actively managed. FMHI charges 0.55%/yr vs 0.35%/yr for HYMU.

Performance

FMHI vs. HYMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Municipal High Income ETF (FMHI) and BlackRock High Yield Muni Income Bond ETF (HYMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FMHI

• 1D: 0.17%
• 1M: 0.92%
• YTD: 2.60%
• 6M: 3.13%
• 1Y: 8.61%
• 3Y*: 5.50%
• 5Y*: 0.91%
• 10Y*: —

HYMU

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMHI vs. HYMU - Yearly Performance Comparison

	2026 (YTD)
FMHI First Trust Municipal High Income ETF	0.42%
HYMU BlackRock High Yield Muni Income Bond ETF	0.00%

Return for Risk

FMHI vs. HYMU — Risk / Return Rank

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

FMHI

FMHI Risk / Return Rank: 81
FMHI Sharpe Ratio Rank: 83
FMHI Sortino Ratio Rank: 91
FMHI Omega Ratio Rank: 91
FMHI Calmar Ratio Rank: 70
FMHI Martin Ratio Rank: 71

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.

FMHI vs. HYMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Municipal High Income ETF (FMHI) and BlackRock High Yield Muni Income Bond ETF (HYMU). 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.

	FMHI	HYMU	Difference
Sharpe ratio Return per unit of total volatility	2.77	—	—
Sortino ratio Return per unit of downside risk	4.30	—	—
Omega ratio Gain probability vs. loss probability	1.61	—	—
Calmar ratio Return relative to maximum drawdown	3.57	—	—
Martin ratio Return relative to average drawdown	13.45	—	—
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

	FMHI	HYMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	—	—

Drawdowns

FMHI vs. HYMU - Drawdown Comparison

The maximum FMHI drawdown since its inception was -18.83%, which is greater than HYMU's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FMHI and HYMU.

Drawdown Indicators

	FMHI	HYMU	Difference
Max Drawdown Largest peak-to-trough decline	-18.83%	0.00%	-18.83%
Max Drawdown (1Y) Largest decline over 1 year	-2.35%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.83%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.52%	0.00%	-4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	—	—

Volatility

Volatility by Period

	FMHI	HYMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.13%	0.00%	+3.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.77%	0.00%	+4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.73%	0.00%	+5.73%

FMHI vs. HYMU - Expense Ratio Comparison

FMHI has a 0.55% expense ratio, which is higher than HYMU's 0.35% expense ratio.

Dividends

FMHI vs. HYMU - Dividend Comparison

FMHI's dividend yield for the trailing twelve months is around 4.25%, while HYMU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMHI First Trust Municipal High Income ETF	4.25%	4.16%	4.01%	3.89%	3.57%	2.87%	3.13%	3.33%	3.46%	0.30%
HYMU BlackRock High Yield Muni Income Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, FMHI or HYMU?

On fees, HYMU is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FMHI or HYMU?

HYMU is cheaper with a 0.35% expense ratio, compared with 0.55% for FMHI.

Which ETF pays a higher dividend yield, FMHI or HYMU?

FMHI has the higher dividend yield at 4.25%, compared with 0.00% for HYMU.

What is the main difference between FMHI and HYMU?

FMHI is categorized as Municipal Bonds, while HYMU is High Yield Muni. They also come from different issuers: First Trust and BlackRock. Their fees differ too: 0.55% for FMHI and 0.35% for HYMU.