HYMB vs. ZTAX
Compare and contrast key facts about SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) and X-Square Municipal Income Tax Free ETF (ZTAX).
HYMB and ZTAX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYMB is a passively managed fund by State Street that tracks the performance of the Bloomberg Municipal Yield. It was launched on Apr 13, 2011. ZTAX is an actively managed fund by X-Square. It was launched on May 18, 2023.
Performance
HYMB vs. ZTAX - Performance Comparison
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HYMB vs. ZTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 0.82% | 2.04% | 5.52% | 5.97% |
ZTAX X-Square Municipal Income Tax Free ETF | 0.90% | -1.02% | 7.98% | 9.14% |
Returns By Period
In the year-to-date period, HYMB achieves a 0.82% return, which is significantly lower than ZTAX's 0.90% return.
HYMB
- 1D
- 0.64%
- 1M
- -1.35%
- YTD
- 0.82%
- 6M
- 2.23%
- 1Y
- 2.88%
- 3Y*
- 4.34%
- 5Y*
- 0.49%
- 10Y*
- 2.52%
ZTAX
- 1D
- 0.00%
- 1M
- 0.80%
- YTD
- 0.90%
- 6M
- 4.82%
- 1Y
- 5.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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HYMB vs. ZTAX - Expense Ratio Comparison
HYMB has a 0.35% expense ratio, which is lower than ZTAX's 1.14% expense ratio.
Return for Risk
HYMB vs. ZTAX — Risk / Return Rank
HYMB
ZTAX
HYMB vs. ZTAX - 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 X-Square Municipal Income Tax Free ETF (ZTAX). 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 | ZTAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.49 | 0.21 | +0.28 |
Sortino ratioReturn per unit of downside risk | 0.61 | 0.49 | +0.12 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.08 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.71 | 0.52 | +0.19 |
Martin ratioReturn relative to average drawdown | 1.74 | 1.39 | +0.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYMB | ZTAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.49 | 0.21 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.22 | +0.22 |
Correlation
The correlation between HYMB and ZTAX is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HYMB vs. ZTAX - Dividend Comparison
HYMB's dividend yield for the trailing twelve months is around 4.59%, more than ZTAX's 4.52% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.59% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
ZTAX X-Square Municipal Income Tax Free ETF | 4.52% | 4.58% | 4.55% | 2.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HYMB vs. ZTAX - Drawdown Comparison
The maximum HYMB drawdown since its inception was -29.57%, which is greater than ZTAX's maximum drawdown of -15.33%. Use the drawdown chart below to compare losses from any high point for HYMB and ZTAX.
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Drawdown Indicators
| HYMB | ZTAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.57% | -15.33% | -14.24% |
Max Drawdown (1Y)Largest decline over 1 year | -5.07% | -10.47% | +5.40% |
Max Drawdown (5Y)Largest decline over 5 years | -20.15% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -29.57% | — | — |
Current DrawdownCurrent decline from peak | -1.57% | -5.92% | +4.35% |
Average DrawdownAverage peak-to-trough decline | -3.84% | -6.87% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 3.92% | -1.86% |
Volatility
HYMB vs. ZTAX - Volatility Comparison
The current volatility for SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) is 2.21%, while X-Square Municipal Income Tax Free ETF (ZTAX) has a volatility of 9.47%. This indicates that HYMB experiences smaller price fluctuations and is considered to be less risky than ZTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYMB | ZTAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 9.47% | -7.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 24.05% | -21.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 25.93% | -19.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 27.25% | -20.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.34% | 27.25% | -15.91% |