HYMB vs. XLF

Last updated Jun 13, 2026

HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) and XLF (State Street Financial Select Sector SPDR ETF) are both exchange-traded funds - HYMB is a Municipal Bonds fund tracking the Bloomberg Municipal Yield, while XLF is a Financials Equities fund tracking the Financial Select Sector Index. Both are passively managed. Over the past 10 years, HYMB returned 2.35%/yr vs 13.33%/yr for XLF. At a correlation of -0.05, they often move in opposite directions. HYMB charges 0.35%/yr vs 0.08%/yr for XLF.

Performance

HYMB vs. XLF - 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 Financial Select Sector SPDR ETF (XLF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYMB achieves a 3.03% return, which is significantly higher than XLF's -2.11% return. Over the past 10 years, HYMB has underperformed XLF with an annualized return of 2.35%, while XLF has yielded a comparatively higher 13.33% annualized return.

HYMB

• 1D: 0.04%
• 1M: 1.10%
• YTD: 3.03%
• 6M: 3.18%
• 1Y: 6.86%
• 3Y*: 5.26%
• 5Y*: 0.33%
• 10Y*: 2.35%

XLF

• 1D: 1.37%
• 1M: 4.61%
• YTD: -2.11%
• 6M: -2.09%
• 1Y: 6.20%
• 3Y*: 18.86%
• 5Y*: 9.15%
• 10Y*: 13.33%

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

HYMB vs. XLF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	3.03%	2.04%	5.52%	7.73%	-15.54%	5.16%	3.74%	9.51%	4.91%	3.22%
XLF State Street Financial Select Sector SPDR ETF	-2.11%	14.90%	30.56%	12.03%	-10.59%	34.80%	-1.74%	31.88%	-13.06%	22.00%

Correlation

The correlation between HYMB and XLF is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011	-0.05

The correlation between HYMB and XLF shifts across timeframes, from -0.05 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

HYMB vs. XLF - Sectors Allocation Comparison

Sectors	HYMB	XLF
Utilities	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	98.0%
Healthcare	-	-
Industrials	-	0.2%
Real Estate	-	-
Technology	-	1.8%

Return for Risk

HYMB vs. XLF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYMB

HYMB Risk / Return Rank: 57
HYMB Sharpe Ratio Rank: 58
HYMB Sortino Ratio Rank: 59
HYMB Omega Ratio Rank: 67
HYMB Calmar Ratio Rank: 50
HYMB Martin Ratio Rank: 52

XLF

XLF Risk / Return Rank: 15
XLF Sharpe Ratio Rank: 17
XLF Sortino Ratio Rank: 15
XLF Omega Ratio Rank: 15
XLF Calmar Ratio Rank: 15
XLF Martin Ratio Rank: 15

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. XLF - 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 Financial Select Sector SPDR ETF (XLF). 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	XLF	Difference
Sharpe ratio: Return per unit of total volatility	1.71	0.42	+1.29
Sortino ratio: Return per unit of downside risk	2.44	0.67	+1.77
Omega ratio: Gain probability vs. loss probability	1.34	1.08	+0.26
Calmar ratio: Return relative to maximum drawdown	2.22	0.42	+1.80
Martin ratio: Return relative to average drawdown	7.86	1.08	+6.78

HYMB vs. XLF - Sharpe Ratio Comparison

The current HYMB Sharpe Ratio is 1.71, which is higher than the XLF Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of HYMB and XLF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HYMB vs. XLF - Drawdown Comparison

The maximum HYMB drawdown since its inception was -29.57%, smaller than the maximum XLF drawdown of -82.69%. Use the drawdown chart below to compare losses from any high point for HYMB and XLF.

Drawdown Indicators

	HYMB	XLF	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	-82.69%	+53.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.11%	-14.79%	+11.68%
Max Drawdown (3Y) Largest decline over 3 years	-7.44%	-15.54%	+8.10%
Max Drawdown (5Y) Largest decline over 5 years	-20.15%	-25.81%	+5.66%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	-42.86%	+13.29%
Current Drawdown Current decline from peak	-0.04%	-4.94%	+4.90%
Average Drawdown Average peak-to-trough decline	-3.80%	-20.01%	+16.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	5.76%	-4.88%

Volatility

HYMB vs. XLF - Volatility Comparison

The current volatility for SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) is 1.36%, while State Street Financial Select Sector SPDR ETF (XLF) has a volatility of 4.23%. This indicates that HYMB experiences smaller price fluctuations and is considered to be less risky than XLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYMB	XLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	4.23%	-2.87%
Volatility (6M) Calculated over the trailing 6-month period	3.16%	11.26%	-8.10%
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	14.69%	-10.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	18.66%	-12.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	22.17%	-10.82%

HYMB vs. XLF - Expense Ratio Comparison

HYMB has a 0.35% expense ratio, which is higher than XLF's 0.08% expense ratio.

Dividends

HYMB vs. XLF - Dividend Comparison

HYMB's dividend yield for the trailing twelve months is around 4.54%, more than XLF's 1.49% 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%
XLF State Street Financial Select Sector SPDR ETF	1.49%	1.31%	1.42%	1.71%	2.04%	1.63%	2.03%	1.87%	2.08%	1.48%	21.10%	1.95%

Frequently Asked Questions

Can I hold both HYMB and XLF in my portfolio?

HYMB and XLF have a correlation of 0.17, 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 XLF?

XLF has higher volatility (4.23%) compared to HYMB (1.36%). In terms of maximum drawdown, HYMB dropped -29.57% vs XLF's -82.69%.

Which ETF is better, HYMB or XLF?

On 10-year performance, XLF leads with 13.33% vs 2.35% for HYMB. On fees, XLF is cheaper at 0.08% per year. On volatility, HYMB has been the lower-risk option at 1.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYMB or XLF?

Over the 10-year period, XLF has performed better with a 13.33% return vs 2.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYMB or XLF?

XLF is cheaper with a 0.08% expense ratio, compared with 0.35% for HYMB.

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

HYMB has the higher dividend yield at 4.54%, compared with 1.49% for XLF.

What is the main difference between HYMB and XLF?

HYMB is categorized as Municipal Bonds, while XLF is Financials Equities. HYMB tracks Bloomberg Municipal Yield, while XLF tracks Financial Select Sector Index. Their fees differ too: 0.35% for HYMB and 0.08% for XLF.

Which has better risk-adjusted returns?

HYMB currently has the higher Sharpe Ratio (1.71 vs 0.42), 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.