FTMA vs. THYM

Last updated Jun 4, 2026

FTMA (Franklin Massachusetts Municipal Income ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - FTMA is a Municipal Bonds fund tracking the Actively Managed, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. FTMA is passively managed, while THYM is actively managed. A 0.54 correlation means they provide meaningful diversification when combined. FTMA charges 0.35%/yr vs 0.32%/yr for THYM.

Performance

FTMA vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Massachusetts Municipal Income ETF (FTMA) and T. Rowe Price High Income Municipal ETF (THYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTMA achieves a 2.06% return, which is significantly lower than THYM's 3.33% return.

FTMA

• 1D: -0.06%
• 1M: 0.80%
• YTD: 2.06%
• 6M: 2.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYM

• 1D: 0.14%
• 1M: 1.14%
• YTD: 3.33%
• 6M: 3.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTMA vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
FTMA Franklin Massachusetts Municipal Income ETF	2.06%	0.65%
THYM T. Rowe Price High Income Municipal ETF	3.33%	0.27%

Correlation

The correlation between FTMA and THYM is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.54

Return for Risk

FTMA vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Massachusetts Municipal Income ETF (FTMA) and T. Rowe Price High Income Municipal ETF (THYM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FTMA	THYM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	1.62	-0.33

Drawdowns

FTMA vs. THYM - Drawdown Comparison

The maximum FTMA drawdown since its inception was -2.27%, smaller than the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for FTMA and THYM.

Drawdown Indicators

	FTMA	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-2.27%	-2.93%	+0.66%
Current Drawdown Current decline from peak	-0.06%	0.00%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.51%	-0.49%	-0.02%

Volatility

Volatility by Period

	FTMA	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	4.35%	-0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.52%	4.35%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	4.35%	-0.83%

FTMA vs. THYM - Expense Ratio Comparison

FTMA has a 0.35% expense ratio, which is higher than THYM's 0.32% expense ratio.

Dividends

FTMA vs. THYM - Dividend Comparison

FTMA's dividend yield for the trailing twelve months is around 1.96%, less than THYM's 2.18% yield.

Position	TTM	2025
FTMA Franklin Massachusetts Municipal Income ETF	1.96%	0.54%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%

Frequently Asked Questions

Can I hold both FTMA and THYM in my portfolio?

FTMA and THYM have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMA or THYM?

On fees, THYM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTMA or THYM?

THYM is cheaper with a 0.32% expense ratio, compared with 0.35% for FTMA.

Which ETF pays a higher dividend yield, FTMA or THYM?

THYM has the higher dividend yield at 2.18%, compared with 1.96% for FTMA.

What is the main difference between FTMA and THYM?

FTMA is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: Franklin Templeton and T. Rowe Price. Their fees differ too: 0.35% for FTMA and 0.32% for THYM.