HYD vs. HYMB
Compare and contrast key facts about VanEck Vectors High-Yield Municipal Index ETF (HYD) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB).
HYD and HYMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. It was launched on Feb 4, 2009. HYMB is a passively managed fund by State Street that tracks the performance of the Bloomberg Municipal Yield. It was launched on Apr 13, 2011. Both HYD and HYMB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYD or HYMB.
Key characteristics
| HYD | HYMB | |
|---|---|---|
| YTD Return | 4.80% | 5.88% |
| 1Y Return | 10.20% | 11.88% |
| 3Y Return (Ann) | -1.90% | -0.99% |
| 5Y Return (Ann) | -0.13% | 1.19% |
| 10Y Return (Ann) | 3.65% | 3.02% |
| Sharpe Ratio | 2.11 | 2.36 |
| Sortino Ratio | 3.10 | 3.32 |
| Omega Ratio | 1.42 | 1.47 |
| Calmar Ratio | 0.72 | 0.92 |
| Martin Ratio | 13.70 | 15.09 |
| Ulcer Index | 0.83% | 0.86% |
| Daily Std Dev | 5.41% | 5.51% |
| Max Drawdown | -35.60% | -29.57% |
| Current Drawdown | -6.84% | -3.91% |
Correlation
The correlation between HYD and HYMB is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
HYD vs. HYMB - Performance Comparison
In the year-to-date period, HYD achieves a 4.80% return, which is significantly lower than HYMB's 5.88% return. Over the past 10 years, HYD has outperformed HYMB with an annualized return of 3.65%, while HYMB has yielded a comparatively lower 3.02% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYD vs. HYMB - Expense Ratio Comparison
Both HYD and HYMB have an expense ratio of 0.35%.
Risk-Adjusted Performance
HYD vs. HYMB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors High-Yield Municipal Index ETF (HYD) and SPDR Nuveen Bloomberg Barclays 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.
Dividends
HYD vs. HYMB - Dividend Comparison
HYD's dividend yield for the trailing twelve months is around 4.24%, which matches HYMB's 4.20% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.24% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 14.47% | 4.29% | 4.58% | 4.83% | 4.98% | 6.34% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.20% | 4.06% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% | 4.49% | 5.17% |
Drawdowns
HYD vs. HYMB - Drawdown Comparison
The maximum HYD drawdown since its inception was -35.60%, which is greater than HYMB's maximum drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for HYD and HYMB. For additional features, visit the drawdowns tool.
Volatility
HYD vs. HYMB - Volatility Comparison
The current volatility for VanEck Vectors High-Yield Municipal Index ETF (HYD) is 2.14%, while SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a volatility of 2.27%. This indicates that HYD experiences smaller price fluctuations and is considered to be less risky than HYMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.