HYMB vs. RPV
HYMB (State Street SPDR Nuveen ICE High Yield Municipal Bond ETF) and RPV (Invesco S&P 500® Pure Value ETF) are both exchange-traded funds - HYMB is a Municipal Bonds fund tracking the ICE US Select High Yield Crossover Municipal Index, while RPV is a Large Cap Value Equities fund tracking the S&P 500 Pure Value Index. Both are passively managed. Over the past 10 years, HYMB returned 2.27%/yr vs 10.80%/yr for RPV. At a correlation of -0.02, they often move in opposite directions. Both charge a 0.35% expense ratio.
Performance
HYMB vs. RPV - Performance Comparison
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Returns By Period
In the year-to-date period, HYMB achieves a 3.11% return, which is significantly lower than RPV's 15.44% return. Over the past 10 years, HYMB has underperformed RPV with an annualized return of 2.27%, while RPV has yielded a comparatively higher 10.80% annualized return.
HYMB
- 1D
- -0.14%
- 1M
- -0.32%
- 6M
- 2.05%
- YTD
- 3.11%
- 1Y
- 8.78%
- 3Y*
- 4.45%
- 5Y*
- 0.18%
- 10Y*
- 2.27%
- ALL TIME*
- 4.39%
RPV
- 1D
- -0.34%
- 1M
- 5.03%
- 6M
- 11.18%
- YTD
- 15.44%
- 1Y
- 29.71%
- 3Y*
- 16.65%
- 5Y*
- 12.09%
- 10Y*
- 10.80%
- ALL TIME*
- 9.43%
HYMB vs. RPV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 3.11% | 2.04% | 5.52% | 7.73% | -15.54% | 5.16% | 3.74% | 9.51% | 4.91% | 3.22% |
RPV Invesco S&P 500® Pure Value ETF | 15.44% | 17.70% | 12.41% | 7.98% | -1.27% | 34.22% | -8.69% | 24.80% | -12.31% | 17.30% |
Correlation
The correlation between HYMB and RPV is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | -0.02 |
The correlation between HYMB and RPV shifts across timeframes, from -0.02 (all time) to 0.15 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYMB vs. RPV — Risk / Return Rank
HYMB
RPV
HYMB vs. RPV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB) and Invesco S&P 500® Pure Value ETF (RPV). 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 | RPV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.41 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 3.86 | -1.02 |
| Martin ratioReturn relative to average drawdown | 12.79 | 13.42 | -0.63 |
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Drawdowns
HYMB vs. RPV - Drawdown Comparison
The maximum HYMB drawdown since its inception was -29.57%, smaller than the maximum RPV drawdown of -75.32%. Use the drawdown chart below to compare losses from any high point for HYMB and RPV.
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Drawdown Indicators
| HYMB | RPV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.57% | -75.32% | +45.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -7.74% | +4.63% |
Max Drawdown (3Y)Largest decline over 3 years | -7.44% | -15.50% | +8.06% |
Max Drawdown (5Y)Largest decline over 5 years | -20.15% | -22.64% | +2.49% |
Max Drawdown (10Y)Largest decline over 10 years | -29.57% | -50.67% | +21.10% |
Current DrawdownCurrent decline from peak | -0.93% | -0.34% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -10.63% | +6.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 2.22% | -1.53% |
Volatility
HYMB vs. RPV - Volatility Comparison
The current volatility for State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB) is 0.84%, while Invesco S&P 500® Pure Value ETF (RPV) has a volatility of 2.57%. This indicates that HYMB experiences smaller price fluctuations and is considered to be less risky than RPV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYMB | RPV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 2.57% | -1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 3.17% | 8.32% | -5.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 12.62% | -8.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.67% | 17.61% | -10.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.36% | 21.80% | -10.44% |
HYMB vs. RPV - Expense Ratio Comparison
Both HYMB and RPV have an expense ratio of 0.35%.
Dividends
HYMB vs. RPV - Dividend Comparison
HYMB's dividend yield for the trailing twelve months is around 4.55%, more than RPV's 2.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 4.55% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
RPV Invesco S&P 500® Pure Value ETF | 2.30% | 2.50% | 2.16% | 2.38% | 2.29% | 1.92% | 2.11% | 2.28% | 2.49% | 1.73% | 1.73% | 2.39% |
Frequently Asked Questions
HYMB and RPV have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPV has higher volatility (2.57%) compared to HYMB (0.84%). In terms of maximum drawdown, HYMB dropped -29.57% vs RPV's -75.32%.
On 10-year performance, RPV leads with 10.80% vs 2.27% for HYMB. Both ETFs have the same 0.35% expense ratio. On volatility, HYMB has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RPV has performed better with a 10.80% return vs 2.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYMB and RPV have the same expense ratio: 0.35% per year.
HYMB has the higher dividend yield at 4.55%, compared with 2.30% for RPV.
HYMB is categorized as Municipal Bonds, while RPV is Large Cap Value Equities. HYMB tracks ICE US Select High Yield Crossover Municipal Index, while RPV tracks S&P 500 Pure Value Index. They also come from different issuers: State Street and Invesco.
RPV currently has the higher Sharpe Ratio (2.37 vs 2.22), 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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