HYMB vs. FNJHX

Last updated Jun 4, 2026

HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) and FNJHX (Fidelity New Jersey Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, HYMB returned 2.46%/yr vs 2.67%/yr for FNJHX. At a 0.48 correlation, their price movements are largely independent. HYMB charges 0.35%/yr vs 0.47%/yr for FNJHX.

Performance

HYMB vs. FNJHX - Performance Comparison

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

Returns By Period

In the year-to-date period, HYMB achieves a 2.87% return, which is significantly higher than FNJHX's 1.41% return. Over the past 10 years, HYMB has underperformed FNJHX with an annualized return of 2.46%, while FNJHX has yielded a comparatively higher 2.67% annualized return.

HYMB

• 1D: -0.04%
• 1M: 1.19%
• YTD: 2.87%
• 6M: 3.18%
• 1Y: 7.43%
• 3Y*: 5.09%
• 5Y*: 0.42%
• 10Y*: 2.46%

FNJHX

• 1D: 0.17%
• 1M: 0.60%
• YTD: 1.41%
• 6M: 1.84%
• 1Y: 7.54%
• 3Y*: 4.40%
• 5Y*: 1.28%
• 10Y*: 2.67%

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

HYMB vs. FNJHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	2.87%	2.04%	5.52%	7.73%	-15.54%	5.16%	3.74%	9.51%	4.91%	3.22%
FNJHX Fidelity New Jersey Municipal Income Fund	1.41%	5.61%	1.23%	8.08%	-9.75%	2.04%	5.13%	8.67%	1.46%	6.91%

Correlation

The correlation between HYMB and FNJHX 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 (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Apr 15, 2011	0.48

The correlation between HYMB and FNJHX shifts across timeframes, from 0.48 (all time) to 0.64 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

HYMB vs. FNJHX — Risk / Return Rank

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

HYMB

HYMB Risk / Return Rank: 53
HYMB Sharpe Ratio Rank: 53
HYMB Sortino Ratio Rank: 54
HYMB Omega Ratio Rank: 60
HYMB Calmar Ratio Rank: 48
HYMB Martin Ratio Rank: 49

FNJHX

FNJHX Risk / Return Rank: 70
FNJHX Sharpe Ratio Rank: 88
FNJHX Sortino Ratio Rank: 90
FNJHX Omega Ratio Rank: 94
FNJHX Calmar Ratio Rank: 40
FNJHX Martin Ratio Rank: 39

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.

HYMB vs. FNJHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) and Fidelity New Jersey Municipal Income Fund (FNJHX). 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.

	HYMB	FNJHX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.88	-1.04
Sortino ratio: Return per unit of downside risk	2.63	4.34	-1.71
Omega ratio: Gain probability vs. loss probability	1.37	1.73	-0.35
Calmar ratio: Return relative to maximum drawdown	2.40	2.41	-0.01
Martin ratio: Return relative to average drawdown	8.51	8.42	+0.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYMB vs. FNJHX - Sharpe Ratio Comparison

The current HYMB Sharpe Ratio is 1.84, which is lower than the FNJHX Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of HYMB and FNJHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYMB	FNJHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.88	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.33	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.65	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	1.30	-0.85

Drawdowns

HYMB vs. FNJHX - Drawdown Comparison

The maximum HYMB drawdown since its inception was -29.57%, which is greater than FNJHX's maximum drawdown of -14.74%. Use the drawdown chart below to compare losses from any high point for HYMB and FNJHX.

Drawdown Indicators

	HYMB	FNJHX	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	-14.74%	-14.83%
Max Drawdown (1Y) Largest decline over 1 year	-3.11%	-3.10%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-7.44%	-5.42%	-2.02%
Max Drawdown (5Y) Largest decline over 5 years	-20.15%	-14.74%	-5.41%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	-14.74%	-14.83%
Current Drawdown Current decline from peak	-0.04%	-0.75%	+0.71%
Average Drawdown Average peak-to-trough decline	-3.81%	-1.77%	-2.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.89%	-0.01%

Volatility

HYMB vs. FNJHX - Volatility Comparison

SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a higher volatility of 1.35% compared to Fidelity New Jersey Municipal Income Fund (FNJHX) at 1.09%. This indicates that HYMB's price experiences larger fluctuations and is considered to be riskier than FNJHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYMB	FNJHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.09%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	3.14%	2.08%	+1.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.05%	2.60%	+1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	3.94%	+2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.36%	4.09%	+7.27%

HYMB vs. FNJHX - Expense Ratio Comparison

HYMB has a 0.35% expense ratio, which is lower than FNJHX's 0.47% expense ratio.

Dividends

HYMB vs. FNJHX - Dividend Comparison

HYMB's dividend yield for the trailing twelve months is around 4.54%, more than FNJHX's 2.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNJHX Fidelity New Jersey Municipal Income Fund	2.98%	3.66%	2.69%	2.67%	1.78%	2.11%	2.60%	3.45%	2.96%	3.47%	4.18%	3.19%
HYMB SPDR Nuveen Bloomberg Barclays 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 HYMB and FNJHX in my portfolio?

HYMB and FNJHX 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 is riskier, HYMB or FNJHX?

HYMB has higher volatility (1.35%) compared to FNJHX (1.09%). In terms of maximum drawdown, HYMB dropped -29.57% vs FNJHX's -14.74%.

Which has better risk-adjusted returns?

FNJHX currently has the higher Sharpe Ratio (2.88 vs 1.84), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.