HYMB vs. HYG
Compare and contrast key facts about SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG).
HYMB and HYG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. HYG is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid High Yield Index. It was launched on Apr 11, 2007. Both HYMB and HYG 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: HYMB or HYG.
Key characteristics
| HYMB | HYG | |
|---|---|---|
| YTD Return | 4.77% | 8.32% |
| 1Y Return | 11.68% | 14.12% |
| 3Y Return (Ann) | -1.21% | 2.54% |
| 5Y Return (Ann) | 1.03% | 3.54% |
| 10Y Return (Ann) | 2.93% | 3.84% |
| Sharpe Ratio | 2.24 | 2.94 |
| Sortino Ratio | 3.11 | 4.62 |
| Omega Ratio | 1.44 | 1.58 |
| Calmar Ratio | 0.80 | 2.15 |
| Martin Ratio | 14.66 | 23.04 |
| Ulcer Index | 0.84% | 0.62% |
| Daily Std Dev | 5.53% | 4.82% |
| Max Drawdown | -29.57% | -34.24% |
| Current Drawdown | -4.91% | 0.00% |
Correlation
The correlation between HYMB and HYG is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
HYMB vs. HYG - Performance Comparison
In the year-to-date period, HYMB achieves a 4.77% return, which is significantly lower than HYG's 8.32% return. Over the past 10 years, HYMB has underperformed HYG with an annualized return of 2.93%, while HYG has yielded a comparatively higher 3.84% 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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HYMB vs. HYG - Expense Ratio Comparison
HYMB has a 0.35% expense ratio, which is lower than HYG's 0.49% expense ratio.
Risk-Adjusted Performance
HYMB vs. HYG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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
HYMB vs. HYG - Dividend Comparison
HYMB's dividend yield for the trailing twelve months is around 4.24%, less than HYG's 5.87% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.24% | 4.06% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% | 4.49% | 5.17% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.87% | 5.75% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% | 5.69% | 6.10% |
Drawdowns
HYMB vs. HYG - Drawdown Comparison
The maximum HYMB drawdown since its inception was -29.57%, smaller than the maximum HYG drawdown of -34.24%. Use the drawdown chart below to compare losses from any high point for HYMB and HYG. For additional features, visit the drawdowns tool.
Volatility
HYMB vs. HYG - Volatility Comparison
SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a higher volatility of 2.02% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 1.06%. This indicates that HYMB's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.