FTNJ vs. HYMB

Last updated Jul 17, 2026

FTNJ (Franklin New Jersey Municipal Income ETF) and HYMB (State Street SPDR Nuveen ICE High Yield Municipal Bond ETF) are both Municipal Bonds funds - FTNJ tracks the Actively Managed while HYMB tracks the ICE US Select High Yield Crossover Municipal Index. Both are passively managed. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

FTNJ vs. HYMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin New Jersey Municipal Income ETF (FTNJ) and State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTNJ achieves a 1.93% return, which is significantly lower than HYMB's 3.26% return.

FTNJ

• 1D: -0.11%
• 1M: 0.01%
• 6M: 1.41%
• YTD: 1.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYMB

• 1D: -0.20%
• 1M: 0.06%
• 6M: 2.07%
• YTD: 3.26%
• 1Y: 8.44%
• 3Y*: 4.84%
• 5Y*: 0.23%
• 10Y*: 2.28%

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

FTNJ vs. HYMB - Yearly Performance Comparison

	2026 (YTD)	2025
FTNJ Franklin New Jersey Municipal Income ETF	1.93%	0.34%
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF	3.26%	0.09%

Correlation

The correlation between FTNJ and HYMB is 0.60, 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 10, 2025	0.60

Return for Risk

FTNJ vs. HYMB — Risk / Return Rank

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

FTNJ

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

HYMB

HYMB Risk / Return Rank: 81
HYMB Sharpe Ratio Rank: 83
HYMB Sortino Ratio Rank: 85
HYMB Omega Ratio Rank: 89
HYMB Calmar Ratio Rank: 68
HYMB Martin Ratio Rank: 81

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.

FTNJ vs. HYMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin New Jersey Municipal Income ETF (FTNJ) and State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB). 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.

	FTNJ	HYMB	Difference
Sharpe ratio: Return per unit of total volatility	—	2.13	—
Sortino ratio: Return per unit of downside risk	—	3.07	—
Omega ratio: Gain probability vs. loss probability	—	1.44	—
Calmar ratio: Return relative to maximum drawdown	—	2.73	—
Martin ratio: Return relative to average drawdown	—	12.37	—

Drawdowns

FTNJ vs. HYMB - Drawdown Comparison

The maximum FTNJ drawdown since its inception was -2.72%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for FTNJ and HYMB.

Drawdown Indicators

	FTNJ	HYMB	Difference
Max Drawdown Largest peak-to-trough decline	-2.72%	-29.57%	+26.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.57%	—
Current Drawdown Current decline from peak	-0.62%	-0.79%	+0.17%
Average Drawdown Average peak-to-trough decline	-0.53%	-3.78%	+3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.68%	—

Volatility

Volatility by Period

	FTNJ	HYMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.17%	4.01%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.17%	6.67%	-3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.17%	11.36%	-8.19%

FTNJ vs. HYMB - Expense Ratio Comparison

Both FTNJ and HYMB have an expense ratio of 0.35%.

Dividends

FTNJ vs. HYMB - Dividend Comparison

FTNJ's dividend yield for the trailing twelve months is around 2.28%, less than HYMB's 4.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTNJ Franklin New Jersey Municipal Income ETF	2.28%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF	4.54%	4.55%	4.29%	4.07%	3.77%	3.19%	3.55%	3.95%	4.03%	3.78%	4.08%	4.54%

Frequently Asked Questions

Can I hold both FTNJ and HYMB in my portfolio?

FTNJ and HYMB have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTNJ or HYMB?

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, FTNJ or HYMB?

FTNJ and HYMB have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, FTNJ or HYMB?

HYMB has the higher dividend yield at 4.54%, compared with 2.28% for FTNJ.

What is the main difference between FTNJ and HYMB?

FTNJ tracks Actively Managed, while HYMB tracks ICE US Select High Yield Crossover Municipal Index. They also come from different issuers: Franklin Templeton and State Street.