FTMN vs. THYM

Last updated Aug 1, 2026

FTMN (Franklin Minnesota Municipal Income ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - FTMN is a Municipal Bonds fund tracking the Actively Managed, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. FTMN is passively managed, while THYM is actively managed. Their 0.59 correlation means they have sometimes moved together and sometimes differently. FTMN charges 0.35%/yr vs 0.32%/yr for THYM.

Performance

FTMN vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Minnesota Municipal Income ETF (FTMN) 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, FTMN achieves a 0.25% return, which is significantly lower than THYM's 2.25% return.

FTMN

• 1D: 0.06%
• 1M: -2.02%
• 6M: -0.31%
• YTD: 0.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

THYM

• 1D: 0.00%
• 1M: -2.31%
• 6M: 1.43%
• YTD: 2.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTMN Franklin Minnesota Municipal Income ETF	$810.73K	$616.08K	$736.86K
THYM T. Rowe Price High Income Municipal ETF	$170.69K	$138.29K	$131.50K

FTMN vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
FTMN Franklin Minnesota Municipal Income ETF	0.25%	0.61%
THYM T. Rowe Price High Income Municipal ETF	2.25%	0.25%

Correlation

The correlation between FTMN and THYM 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 Nov 20, 2025	0.59

Return for Risk

FTMN vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Minnesota Municipal Income ETF (FTMN) 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.

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.

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

Drawdowns

FTMN vs. THYM - Drawdown Comparison

The maximum FTMN drawdown since its inception was -3.10%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for FTMN and THYM.

Drawdown Indicators

	FTMN	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-3.10%	-2.93%	-0.17%
Current Drawdown Current decline from peak	-2.08%	-2.31%	+0.23%
Average Drawdown Average peak-to-trough decline	-0.72%	-0.55%	-0.17%

Volatility

Volatility by Period

	FTMN	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	4.41%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.15%	4.41%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.15%	4.41%	-0.26%

FTMN vs. THYM - Expense Ratio Comparison

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

Dividends

FTMN vs. THYM - Dividend Comparison

FTMN's dividend yield for the trailing twelve months is around 2.15%, less than THYM's 2.99% yield.

Position	TTM	2025
FTMN Franklin Minnesota Municipal Income ETF	2.15%	0.50%
THYM T. Rowe Price High Income Municipal ETF	2.99%	0.37%

Frequently Asked Questions

Can I hold both FTMN and THYM in my portfolio?

FTMN 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, FTMN 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, FTMN or THYM?

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

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

THYM has the higher dividend yield at 2.99%, compared with 2.15% for FTMN.

What is the main difference between FTMN and THYM?

FTMN 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 FTMN and 0.32% for THYM.