FTNJ vs. THYM

Last updated Jun 25, 2026

FTNJ (Franklin New Jersey Municipal Income ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - FTNJ is a Municipal Bonds fund tracking the Actively Managed, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. FTNJ is passively managed, while THYM is actively managed. A 0.63 correlation means they provide meaningful diversification when combined. FTNJ charges 0.35%/yr vs 0.32%/yr for THYM.

Performance

FTNJ vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin New Jersey Municipal Income ETF (FTNJ) 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, FTNJ achieves a 2.27% return, which is significantly lower than THYM's 4.16% return.

FTNJ

• 1D: 0.17%
• 1M: 1.55%
• YTD: 2.27%
• 6M: 2.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYM

• 1D: 0.53%
• 1M: 2.22%
• YTD: 4.16%
• 6M: 4.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTNJ vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
FTNJ Franklin New Jersey Municipal Income ETF	2.27%	0.31%
THYM T. Rowe Price High Income Municipal ETF	4.16%	0.25%

Correlation

The correlation between FTNJ and THYM is 0.63, 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 20, 2025	0.63

Return for Risk

FTNJ vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin New Jersey Municipal Income ETF (FTNJ) 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

FTNJ vs. THYM - Drawdown Comparison

The maximum FTNJ drawdown since its inception was -2.72%, smaller than the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for FTNJ and THYM.

Drawdown Indicators

	FTNJ	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-2.72%	-2.93%	+0.21%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.56%	-0.46%	-0.10%

Volatility

Volatility by Period

	FTNJ	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.26%	4.35%	-1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.26%	4.35%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.26%	4.35%	-1.09%

FTNJ vs. THYM - Expense Ratio Comparison

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

Dividends

FTNJ vs. THYM - Dividend Comparison

FTNJ's dividend yield for the trailing twelve months is around 1.97%, less than THYM's 2.17% yield.

Position	TTM	2025
FTNJ Franklin New Jersey Municipal Income ETF	1.97%	0.54%
THYM T. Rowe Price High Income Municipal ETF	2.17%	0.37%

Frequently Asked Questions

Can I hold both FTNJ and THYM in my portfolio?

FTNJ and THYM have a correlation of 0.63, 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 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, FTNJ or THYM?

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

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

THYM has the higher dividend yield at 2.17%, compared with 1.97% for FTNJ.

What is the main difference between FTNJ and THYM?

FTNJ 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 FTNJ and 0.32% for THYM.