HYMB vs. SPYD

Last updated Jun 4, 2026

HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) and SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) are both exchange-traded funds - HYMB is a Municipal Bonds fund tracking the Bloomberg Municipal Yield, while SPYD is a S&P 500 fund tracking the S&P 500 High Dividend Index. Both are passively managed. Over the past 10 years, HYMB returned 2.46%/yr vs 8.59%/yr for SPYD. At a 0.09 correlation, their price movements are largely independent. HYMB charges 0.35%/yr vs 0.07%/yr for SPYD.

Performance

HYMB vs. SPYD - 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 State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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 lower than SPYD's 10.34% return. Over the past 10 years, HYMB has underperformed SPYD with an annualized return of 2.46%, while SPYD has yielded a comparatively higher 8.59% 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%

SPYD

• 1D: -0.44%
• 1M: 1.57%
• YTD: 10.34%
• 6M: 10.97%
• 1Y: 16.38%
• 3Y*: 14.37%
• 5Y*: 6.76%
• 10Y*: 8.59%

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

HYMB vs. SPYD - 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%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	10.34%	4.65%	15.34%	3.91%	-1.17%	32.73%	-11.64%	21.20%	-4.89%	12.67%

Correlation

The correlation between HYMB and SPYD is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Oct 23, 2015	0.09

The correlation between HYMB and SPYD shifts across timeframes, from 0.09 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

HYMB vs. SPYD - Sectors Allocation Comparison

Sectors	HYMB	SPYD
Utilities	100.0%	11.4%
Basic Materials	-	3.4%
Communication Services	-	5.1%
Consumer Cyclical	-	6.5%
Consumer Defensive	-	16.3%
Energy	-	9.2%
Financial Services	-	12.1%
Healthcare	-	5.2%
Industrials	-	2.3%
Real Estate	-	25.8%
Technology	-	2.7%

Return for Risk

HYMB vs. SPYD — 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

SPYD

SPYD Risk / Return Rank: 41
SPYD Sharpe Ratio Rank: 39
SPYD Sortino Ratio Rank: 42
SPYD Omega Ratio Rank: 36
SPYD Calmar Ratio Rank: 46
SPYD Martin Ratio Rank: 41

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. SPYD - 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 State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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	SPYD	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.42	+0.43
Sortino ratio: Return per unit of downside risk	2.63	2.15	+0.49
Omega ratio: Gain probability vs. loss probability	1.37	1.24	+0.13
Calmar ratio: Return relative to maximum drawdown	2.40	2.33	+0.07
Martin ratio: Return relative to average drawdown	8.51	6.77	+1.74
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. SPYD - Sharpe Ratio Comparison

The current HYMB Sharpe Ratio is 1.84, which is higher than the SPYD Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of HYMB and SPYD, 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	SPYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	1.42	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.42	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.44	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.47	-0.02

Drawdowns

HYMB vs. SPYD - Drawdown Comparison

The maximum HYMB drawdown since its inception was -29.57%, smaller than the maximum SPYD drawdown of -46.42%. Use the drawdown chart below to compare losses from any high point for HYMB and SPYD.

Drawdown Indicators

	HYMB	SPYD	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	-46.42%	+16.85%
Max Drawdown (1Y) Largest decline over 1 year	-3.11%	-7.05%	+3.94%
Max Drawdown (3Y) Largest decline over 3 years	-7.44%	-16.13%	+8.69%
Max Drawdown (5Y) Largest decline over 5 years	-20.15%	-22.25%	+2.10%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	-46.42%	+16.85%
Current Drawdown Current decline from peak	-0.04%	-1.11%	+1.07%
Average Drawdown Average peak-to-trough decline	-3.81%	-6.17%	+2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	2.43%	-1.55%

Volatility

HYMB vs. SPYD - Volatility Comparison

The current volatility for SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) is 1.35%, while State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) has a volatility of 2.57%. This indicates that HYMB experiences smaller price fluctuations and is considered to be less risky than SPYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYMB	SPYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	2.57%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	3.14%	7.71%	-4.57%
Volatility (1Y) Calculated over the trailing 1-year period	4.05%	11.62%	-7.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	16.13%	-9.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.36%	19.78%	-8.42%

HYMB vs. SPYD - Expense Ratio Comparison

HYMB has a 0.35% expense ratio, which is higher than SPYD's 0.07% expense ratio.

Dividends

HYMB vs. SPYD - Dividend Comparison

HYMB's dividend yield for the trailing twelve months is around 4.54%, more than SPYD's 4.21% 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%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	4.21%	4.52%	4.31%	4.66%	5.01%	3.68%	4.95%	4.42%	4.75%	4.63%	4.34%	1.13%

Frequently Asked Questions

Can I hold both HYMB and SPYD in my portfolio?

HYMB and SPYD have a correlation of 0.22, 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 SPYD?

SPYD has higher volatility (2.57%) compared to HYMB (1.35%). In terms of maximum drawdown, HYMB dropped -29.57% vs SPYD's -46.42%.

Which ETF is better, HYMB or SPYD?

On 10-year performance, SPYD leads with 8.59% vs 2.46% for HYMB. On fees, SPYD is cheaper at 0.07% per year. On volatility, HYMB has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYMB or SPYD?

Over the 10-year period, SPYD has performed better with a 8.59% 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 SPYD?

SPYD is cheaper with a 0.07% expense ratio, compared with 0.35% for HYMB.

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

HYMB has the higher dividend yield at 4.54%, compared with 4.21% for SPYD.

What is the main difference between HYMB and SPYD?

HYMB is categorized as Municipal Bonds, while SPYD is S&P 500. HYMB tracks Bloomberg Municipal Yield, while SPYD tracks S&P 500 High Dividend Index. Their fees differ too: 0.35% for HYMB and 0.07% for SPYD.

Which has better risk-adjusted returns?

HYMB currently has the higher Sharpe Ratio (1.84 vs 1.42), 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.