FTMH vs. THYM

Last updated Jun 4, 2026

FTMH (Franklin Municipal High Yield ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both High Yield Muni funds. Both are actively managed. A 0.59 correlation means they provide meaningful diversification when combined. FTMH charges 0.35%/yr vs 0.32%/yr for THYM.

Performance

FTMH vs. THYM - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FTMH having a 3.48% return and THYM slightly lower at 3.33%.

FTMH

• 1D: 0.00%
• 1M: 1.24%
• YTD: 3.48%
• 6M: 3.92%
• 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)

FTMH vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
FTMH Franklin Municipal High Yield ETF	3.48%	0.13%
THYM T. Rowe Price High Income Municipal ETF	3.33%	0.27%

Correlation

The correlation between FTMH and THYM is 0.59, 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	0.59

Return for Risk

FTMH vs. THYM - Risk-Adjusted Trends Comparison

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

	FTMH	THYM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.53	1.62	-0.09

Drawdowns

FTMH vs. THYM - Drawdown Comparison

The maximum FTMH drawdown since its inception was -3.12%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for FTMH and THYM.

Drawdown Indicators

	FTMH	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-3.12%	-2.93%	-0.19%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.60%	-0.49%	-0.11%

Volatility

Volatility by Period

	FTMH	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	4.35%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.00%	4.35%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.00%	4.35%	-0.35%

FTMH vs. THYM - Expense Ratio Comparison

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

Dividends

FTMH vs. THYM - Dividend Comparison

FTMH's dividend yield for the trailing twelve months is around 2.71%, more than THYM's 2.18% yield.

Position	TTM	2025
FTMH Franklin Municipal High Yield ETF	2.71%	0.86%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%

Frequently Asked Questions

Can I hold both FTMH and THYM in my portfolio?

FTMH and THYM 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.

Which ETF is better, FTMH 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, FTMH or THYM?

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

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

FTMH has the higher dividend yield at 2.71%, compared with 2.18% for THYM.

What is the main difference between FTMH and THYM?

They also come from different issuers: Franklin Templeton and T. Rowe Price. Their fees differ too: 0.35% for FTMH and 0.32% for THYM.