HYMB vs. THYM

Last updated Jun 4, 2026

HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - HYMB is a Municipal Bonds fund tracking the Bloomberg Municipal Yield, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. HYMB is passively managed, while THYM is actively managed. A 0.62 correlation means they provide meaningful diversification when combined. HYMB charges 0.35%/yr vs 0.32%/yr for THYM.

Performance

HYMB vs. THYM - 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 T. Rowe Price High Income Municipal ETF (THYM). 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 THYM's 3.33% 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%

THYM

• 1D: 0.14%
• 1M: 1.14%
• YTD: 3.33%
• 6M: 3.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYMB vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	2.87%	0.17%
THYM T. Rowe Price High Income Municipal ETF	3.33%	0.27%

Correlation

The correlation between HYMB and THYM is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.62

Return for Risk

HYMB vs. THYM — 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

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. THYM - 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 T. Rowe Price High Income Municipal ETF (THYM). 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	THYM	Difference
Sharpe ratio: Return per unit of total volatility	1.84	—	—
Sortino ratio: Return per unit of downside risk	2.63	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.40	—	—
Martin ratio: Return relative to average drawdown	8.51	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HYMB	THYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	1.62	-1.17

Drawdowns

HYMB vs. THYM - Drawdown Comparison

The maximum HYMB drawdown since its inception was -29.57%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for HYMB and THYM.

Drawdown Indicators

	HYMB	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	-2.93%	-26.64%
Max Drawdown (1Y) Largest decline over 1 year	-3.11%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.44%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	—	—
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-3.81%	-0.49%	-3.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	HYMB	THYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.05%	4.35%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	4.35%	+2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.36%	4.35%	+7.01%

HYMB vs. THYM - Expense Ratio Comparison

HYMB has a 0.35% expense ratio, which is higher than THYM's 0.32% expense ratio.

Dividends

HYMB vs. THYM - Dividend Comparison

HYMB's dividend yield for the trailing twelve months is around 4.54%, more than THYM's 2.18% 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%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYMB and THYM in my portfolio?

HYMB and THYM have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYMB or THYM?

On fees, THYM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYMB or THYM?

THYM is cheaper with a 0.32% expense ratio, compared with 0.35% for HYMB.

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

HYMB has the higher dividend yield at 4.54%, compared with 2.18% for THYM.

What is the main difference between HYMB and THYM?

HYMB is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: State Street and T. Rowe Price. Their fees differ too: 0.35% for HYMB and 0.32% for THYM.