HYMB vs. NEAR

Last updated Jun 4, 2026

HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) and NEAR (iShares Short Duration Bond Active ETF) are both exchange-traded funds - HYMB is a Municipal Bonds fund tracking the Bloomberg Municipal Yield, while NEAR is a Short-Term Bond fund actively managed by iShares. HYMB is passively managed, while NEAR is actively managed. Over the past 10 years, HYMB returned 2.46%/yr vs 2.85%/yr for NEAR. At a 0.26 correlation, their price movements are largely independent. HYMB charges 0.35%/yr vs 0.25%/yr for NEAR.

Performance

HYMB vs. NEAR - 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 iShares Short Duration Bond Active ETF (NEAR). 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 NEAR's 0.73% return. Over the past 10 years, HYMB has underperformed NEAR with an annualized return of 2.46%, while NEAR has yielded a comparatively higher 2.85% 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%

NEAR

• 1D: 0.00%
• 1M: 0.20%
• YTD: 0.73%
• 6M: 1.15%
• 1Y: 4.31%
• 3Y*: 5.64%
• 5Y*: 3.86%
• 10Y*: 2.85%

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

HYMB vs. NEAR - 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%
NEAR iShares Short Duration Bond Active ETF	0.73%	5.90%	5.09%	7.42%	0.41%	0.32%	1.39%	3.55%	1.71%	1.41%

Correlation

The correlation between HYMB and NEAR is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Sep 27, 2013	0.26

Over the past year, HYMB and NEAR have become more correlated (0.56) than their long-term average of 0.26, meaning their price movements have been converging.

HYMB vs. NEAR - Sectors Allocation Comparison

Sectors	HYMB	NEAR
Utilities	100.0%	-
Basic Materials	-	-
Communication Services	-	-0.0%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

HYMB vs. NEAR — 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

NEAR

NEAR Risk / Return Rank: 87
NEAR Sharpe Ratio Rank: 90
NEAR Sortino Ratio Rank: 94
NEAR Omega Ratio Rank: 93
NEAR Calmar Ratio Rank: 75
NEAR Martin Ratio Rank: 84

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. NEAR - 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 iShares Short Duration Bond Active ETF (NEAR). 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	NEAR	Difference
Sharpe ratio: Return per unit of total volatility	1.84	3.18	-1.34
Sortino ratio: Return per unit of downside risk	2.63	5.07	-2.44
Omega ratio: Gain probability vs. loss probability	1.37	1.66	-0.29
Calmar ratio: Return relative to maximum drawdown	2.40	3.81	-1.41
Martin ratio: Return relative to average drawdown	8.51	17.49	-8.98
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. NEAR - Sharpe Ratio Comparison

The current HYMB Sharpe Ratio is 1.84, which is lower than the NEAR Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of HYMB and NEAR, 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	NEAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	3.18	-1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	2.90	-2.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	1.14	-0.93
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	1.09	-0.64

Drawdowns

HYMB vs. NEAR - Drawdown Comparison

The maximum HYMB drawdown since its inception was -29.57%, which is greater than NEAR's maximum drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for HYMB and NEAR.

Drawdown Indicators

	HYMB	NEAR	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	-9.61%	-19.96%
Max Drawdown (1Y) Largest decline over 1 year	-3.11%	-1.13%	-1.98%
Max Drawdown (3Y) Largest decline over 3 years	-7.44%	-1.16%	-6.28%
Max Drawdown (5Y) Largest decline over 5 years	-20.15%	-1.32%	-18.83%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	-9.61%	-19.96%
Current Drawdown Current decline from peak	-0.04%	-0.09%	+0.05%
Average Drawdown Average peak-to-trough decline	-3.81%	-0.16%	-3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.25%	+0.63%

Volatility

HYMB vs. NEAR - Volatility Comparison

SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a higher volatility of 1.35% compared to iShares Short Duration Bond Active ETF (NEAR) at 0.37%. This indicates that HYMB's price experiences larger fluctuations and is considered to be riskier than NEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYMB	NEAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	0.37%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	3.14%	1.00%	+2.14%
Volatility (1Y) Calculated over the trailing 1-year period	4.05%	1.36%	+2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	1.34%	+5.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.36%	2.50%	+8.86%

HYMB vs. NEAR - Expense Ratio Comparison

HYMB has a 0.35% expense ratio, which is higher than NEAR's 0.25% expense ratio.

Dividends

HYMB vs. NEAR - Dividend Comparison

HYMB's dividend yield for the trailing twelve months is around 4.54%, more than NEAR's 4.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	4.54%	4.55%	4.29%	4.07%	3.77%	3.19%	3.55%	3.95%	4.03%	3.78%	4.08%	4.54%
NEAR iShares Short Duration Bond Active ETF	4.44%	4.54%	5.00%	4.59%	1.78%	0.76%	1.53%	2.69%	2.25%	1.52%	1.07%	0.85%

Frequently Asked Questions

Can I hold both HYMB and NEAR in my portfolio?

HYMB and NEAR have a correlation of 0.56, 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 NEAR?

HYMB has higher volatility (1.35%) compared to NEAR (0.37%). In terms of maximum drawdown, HYMB dropped -29.57% vs NEAR's -9.61%.

Which ETF is better, HYMB or NEAR?

On 10-year performance, NEAR leads with 2.85% vs 2.46% for HYMB. On fees, NEAR is cheaper at 0.25% per year. On volatility, NEAR has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYMB or NEAR?

Over the 10-year period, NEAR has performed better with a 2.85% return vs 2.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYMB or NEAR?

NEAR is cheaper with a 0.25% expense ratio, compared with 0.35% for HYMB.

Which ETF pays a higher dividend yield, HYMB or NEAR?

HYMB has the higher dividend yield at 4.54%, compared with 4.44% for NEAR.

What is the main difference between HYMB and NEAR?

HYMB is categorized as Municipal Bonds, while NEAR is Short-Term Bond. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for HYMB and 0.25% for NEAR.

Which has better risk-adjusted returns?

NEAR currently has the higher Sharpe Ratio (3.18 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.