HTAX vs. FTMH
HTAX (Nomura National High-Yield Municipal Bond ETF) and FTMH (Franklin Municipal High Yield ETF) are both High Yield Muni funds. Both are actively managed. Their 0.59 correlation means they have sometimes moved together and sometimes differently. HTAX charges 0.49%/yr vs 0.35%/yr for FTMH.
Performance
HTAX vs. FTMH - Performance Comparison
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Returns By Period
In the year-to-date period, HTAX achieves a 2.49% return, which is significantly higher than FTMH's 2.36% return.
HTAX
- 1D
- -0.10%
- 1M
- -2.50%
- 6M
- 1.90%
- YTD
- 2.49%
- 1Y
- 8.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.43%
FTMH
- 1D
- -0.17%
- 1M
- -2.28%
- 6M
- 1.66%
- YTD
- 2.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.21M | $2.22M | $2.07M | |
| $196.52K | $113.00K | $101.96K |
HTAX vs. FTMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HTAX Nomura National High-Yield Municipal Bond ETF | 2.49% | 0.01% |
FTMH Franklin Municipal High Yield ETF | 2.36% | -0.43% |
Correlation
The correlation between HTAX and FTMH 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 Oct 27, 2025 | 0.59 |
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Return for Risk
HTAX vs. FTMH — Risk / Return Rank
HTAX
FTMH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HTAX vs. FTMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nomura National High-Yield Municipal Bond ETF (HTAX) and Franklin Municipal High Yield ETF (FTMH). 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.
| HTAX | FTMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.37 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | — | — |
| Martin ratioReturn relative to average drawdown | 11.27 | — | — |
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Drawdowns
HTAX vs. FTMH - Drawdown Comparison
The maximum HTAX drawdown since its inception was -6.10%, which is greater than FTMH's maximum drawdown of -3.12%. Use the drawdown chart below to compare losses from any high point for HTAX and FTMH.
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Drawdown Indicators
| HTAX | FTMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.10% | -3.12% | -2.98% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | — | — |
Current DrawdownCurrent decline from peak | -2.50% | -2.28% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -0.66% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | — | — |
Volatility
HTAX vs. FTMH - Volatility Comparison
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Volatility by Period
| HTAX | FTMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.59% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 4.04% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.32% | 4.04% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.32% | 4.04% | +2.28% |
HTAX vs. FTMH - Expense Ratio Comparison
HTAX has a 0.49% expense ratio, which is higher than FTMH's 0.35% expense ratio.
Dividends
HTAX vs. FTMH - Dividend Comparison
HTAX's dividend yield for the trailing twelve months is around 4.64%, more than FTMH's 3.13% yield.
| Position | TTM | 2025 |
|---|---|---|
FTMH Franklin Municipal High Yield ETF | 3.13% | 0.86% |
HTAX Nomura National High-Yield Municipal Bond ETF | 4.64% | 3.67% |
Frequently Asked Questions
HTAX and FTMH 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.
On fees, FTMH is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FTMH is cheaper with a 0.35% expense ratio, compared with 0.49% for HTAX.
HTAX has the higher dividend yield at 4.64%, compared with 3.13% for FTMH.
They also come from different issuers: Nomura and Franklin Templeton. Their fees differ too: 0.49% for HTAX and 0.35% for FTMH.
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