FTMH vs. HTAX
FTMH (Franklin Municipal High Yield ETF) and HTAX (Nomura National High-Yield Municipal Bond ETF) are both High Yield Muni funds. Both are actively managed. Their 0.59 correlation means they have sometimes moved together and sometimes differently. FTMH charges 0.35%/yr vs 0.49%/yr for HTAX.
Performance
FTMH vs. HTAX - Performance Comparison
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Returns By Period
In the year-to-date period, FTMH achieves a 2.36% return, which is significantly lower than HTAX's 2.49% return.
FTMH
- 1D
- -0.17%
- 1M
- -2.28%
- 6M
- 1.66%
- YTD
- 2.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
HTAX
- 1D
- -0.10%
- 1M
- -2.50%
- 6M
- 1.90%
- YTD
- 2.49%
- 1Y
- 8.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.21M | $2.22M | $2.07M | |
| $196.52K | $113.00K | $101.96K |
FTMH vs. HTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTMH Franklin Municipal High Yield ETF | 2.36% | -0.43% |
HTAX Nomura National High-Yield Municipal Bond ETF | 2.49% | 0.01% |
Correlation
The correlation between FTMH and HTAX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 27, 2025 | 0.59 |
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Return for Risk
FTMH vs. HTAX — Risk / Return Rank
FTMH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HTAX
FTMH vs. HTAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Municipal High Yield ETF (FTMH) and Nomura National High-Yield Municipal Bond ETF (HTAX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FTMH | HTAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.94 | — |
| Martin ratioReturn relative to average drawdown | — | 11.27 | — |
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Drawdowns
FTMH vs. HTAX - Drawdown Comparison
The maximum FTMH drawdown since its inception was -3.12%, smaller than the maximum HTAX drawdown of -6.10%. Use the drawdown chart below to compare losses from any high point for FTMH and HTAX.
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Drawdown Indicators
| FTMH | HTAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.12% | -6.10% | +2.98% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.06% | — |
Current DrawdownCurrent decline from peak | -2.28% | -2.50% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -0.66% | -1.65% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.80% | — |
Volatility
FTMH vs. HTAX - Volatility Comparison
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Volatility by Period
| FTMH | HTAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.44% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.59% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 4.72% | -0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.04% | 6.32% | -2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.04% | 6.32% | -2.28% |
FTMH vs. HTAX - Expense Ratio Comparison
FTMH has a 0.35% expense ratio, which is lower than HTAX's 0.49% expense ratio.
Dividends
FTMH vs. HTAX - Dividend Comparison
FTMH's dividend yield for the trailing twelve months is around 3.13%, less than HTAX's 4.64% yield.
| Position | TTM | 2025 |
|---|---|---|
FTMH Franklin Municipal High Yield ETF | 3.13% | 0.86% |
HTAX Nomura National High-Yield Municipal Bond ETF | 4.64% | 3.67% |
Frequently Asked Questions
FTMH and HTAX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FTMH is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FTMH is cheaper with a 0.35% expense ratio, compared with 0.49% for HTAX.
HTAX has the higher dividend yield at 4.64%, compared with 3.13% for FTMH.
They also come from different issuers: Franklin Templeton and Nomura. Their fees differ too: 0.35% for FTMH and 0.49% for HTAX.
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