HYMB vs. ITM
HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) and ITM (VanEck Intermediate Muni ETF) are both Municipal Bonds funds - HYMB tracks the Bloomberg Municipal Yield while ITM tracks the Bloomberg AMT-Free Intermediate Continuous. Both are passively managed. Over the past 10 years, HYMB returned 2.34%/yr vs 1.80%/yr for ITM. A 0.54 correlation means they provide meaningful diversification when combined. HYMB charges 0.35%/yr vs 0.24%/yr for ITM.
Performance
HYMB vs. ITM - Performance Comparison
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Returns By Period
In the year-to-date period, HYMB achieves a 3.44% return, which is significantly higher than ITM's 0.80% return. Over the past 10 years, HYMB has outperformed ITM with an annualized return of 2.34%, while ITM has yielded a comparatively lower 1.80% annualized return.
HYMB
- 1D
- 0.00%
- 1M
- 1.79%
- YTD
- 3.44%
- 6M
- 3.40%
- 1Y
- 7.20%
- 3Y*
- 4.88%
- 5Y*
- 0.44%
- 10Y*
- 2.34%
ITM
- 1D
- -0.04%
- 1M
- 1.26%
- YTD
- 0.80%
- 6M
- 0.83%
- 1Y
- 6.69%
- 3Y*
- 3.42%
- 5Y*
- 0.51%
- 10Y*
- 1.80%
HYMB vs. ITM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 3.44% | 2.04% | 5.52% | 7.73% | -15.54% | 5.16% | 3.74% | 9.51% | 4.91% | 3.22% |
ITM VanEck Intermediate Muni ETF | 0.80% | 5.34% | 0.73% | 5.69% | -9.33% | 0.21% | 5.87% | 8.46% | 0.96% | 6.13% |
Correlation
The correlation between HYMB and ITM is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | 0.54 |
Over the past year, HYMB and ITM have become more correlated (0.78) than their long-term average of 0.54, meaning their price movements have been converging.
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Return for Risk
HYMB vs. ITM — Risk / Return Rank
HYMB
ITM
HYMB vs. ITM - 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 VanEck Intermediate Muni ETF (ITM). 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.
| HYMB | ITM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.50 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 1.96 | +0.37 |
| Martin ratioReturn relative to average drawdown | 8.25 | 6.03 | +2.22 |
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Drawdowns
HYMB vs. ITM - Drawdown Comparison
The maximum HYMB drawdown since its inception was -29.57%, which is greater than ITM's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for HYMB and ITM.
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Drawdown Indicators
| HYMB | ITM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.57% | -24.75% | -4.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -3.43% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -7.44% | -5.68% | -1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -20.15% | -15.11% | -5.04% |
Max Drawdown (10Y)Largest decline over 10 years | -29.57% | -24.75% | -4.82% |
Current DrawdownCurrent decline from peak | 0.00% | -1.14% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -2.97% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.11% | -0.23% |
Volatility
HYMB vs. ITM - Volatility Comparison
SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a higher volatility of 0.85% compared to VanEck Intermediate Muni ETF (ITM) at 0.76%. This indicates that HYMB's price experiences larger fluctuations and is considered to be riskier than ITM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYMB | ITM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.76% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 2.22% | +0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 2.83% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.67% | 4.30% | +2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.36% | 7.09% | +4.27% |
HYMB vs. ITM - Expense Ratio Comparison
HYMB has a 0.35% expense ratio, which is higher than ITM's 0.24% expense ratio.
Dividends
HYMB vs. ITM - Dividend Comparison
HYMB's dividend yield for the trailing twelve months is around 4.52%, more than ITM's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.52% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
ITM VanEck Intermediate Muni ETF | 2.92% | 2.86% | 2.73% | 2.40% | 1.92% | 1.70% | 2.13% | 2.44% | 2.33% | 2.21% | 2.29% | 2.28% |
Frequently Asked Questions
HYMB and ITM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYMB has higher volatility (0.85%) compared to ITM (0.76%). In terms of maximum drawdown, HYMB dropped -29.57% vs ITM's -24.75%.
On 10-year performance, HYMB leads with 2.34% vs 1.80% for ITM. On fees, ITM is cheaper at 0.24% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYMB has performed better with a 2.34% return vs 1.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITM is cheaper with a 0.24% expense ratio, compared with 0.35% for HYMB.
HYMB has the higher dividend yield at 4.52%, compared with 2.92% for ITM.
HYMB tracks Bloomberg Municipal Yield, while ITM tracks Bloomberg AMT-Free Intermediate Continuous. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.35% for HYMB and 0.24% for ITM.
ITM currently has the higher Sharpe Ratio (2.38 vs 1.79), 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.
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