FTMH vs. NHYM

Last updated Jun 3, 2026

FTMH (Franklin Municipal High Yield ETF) and NHYM (Nuveen High Yield Municipal Income ETF) are both High Yield Muni funds. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

FTMH vs. NHYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Municipal High Yield ETF (FTMH) and Nuveen High Yield Municipal Income ETF (NHYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTMH achieves a 3.48% return, which is significantly higher than NHYM's 2.83% return.

FTMH

• 1D: 0.17%
• 1M: 1.18%
• YTD: 3.48%
• 6M: 3.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NHYM

• 1D: 0.28%
• 1M: 1.10%
• YTD: 2.83%
• 6M: 3.37%
• 1Y: 8.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTMH vs. NHYM - Yearly Performance Comparison

	2026 (YTD)	2025
FTMH Franklin Municipal High Yield ETF	3.48%	0.11%
NHYM Nuveen High Yield Municipal Income ETF	2.83%	0.09%

Correlation

The correlation between FTMH and NHYM is 0.62, 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 Oct 28, 2025	0.62

Return for Risk

FTMH vs. NHYM — Risk / Return Rank

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

NHYM

NHYM Risk / Return Rank: 62
NHYM Sharpe Ratio Rank: 59
NHYM Sortino Ratio Rank: 66
NHYM Omega Ratio Rank: 68
NHYM Calmar Ratio Rank: 63
NHYM Martin Ratio Rank: 53

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.

FTMH vs. NHYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Municipal High Yield ETF (FTMH) and Nuveen High Yield Municipal Income ETF (NHYM). 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

	FTMH	NHYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.54	0.77	+0.77

Drawdowns

FTMH vs. NHYM - Drawdown Comparison

The maximum FTMH drawdown since its inception was -3.12%, smaller than the maximum NHYM drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for FTMH and NHYM.

Drawdown Indicators

	FTMH	NHYM	Difference
Max Drawdown Largest peak-to-trough decline	-3.12%	-6.11%	+2.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.77%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.60%	-1.74%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.95%	—

Volatility

Volatility by Period

	FTMH	NHYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.01%	4.39%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.01%	5.94%	-1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.01%	5.94%	-1.93%

FTMH vs. NHYM - Expense Ratio Comparison

Both FTMH and NHYM have an expense ratio of 0.35%.

Dividends

FTMH vs. NHYM - Dividend Comparison

FTMH's dividend yield for the trailing twelve months is around 2.71%, less than NHYM's 4.53% yield.

Position	TTM	2025
FTMH Franklin Municipal High Yield ETF	2.71%	0.86%
NHYM Nuveen High Yield Municipal Income ETF	4.53%	4.06%

Frequently Asked Questions

Can I hold both FTMH and NHYM in my portfolio?

FTMH and NHYM have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMH or NHYM?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTMH or NHYM?

FTMH and NHYM have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, FTMH or NHYM?

NHYM has the higher dividend yield at 4.53%, compared with 2.71% for FTMH.

What is the main difference between FTMH and NHYM?

They also come from different issuers: Franklin Templeton and Nuveen.