HYMU vs. NHYM

Last updated Apr 2, 2026

Compare and contrast key facts about BlackRock High Yield Muni Income Bond ETF (HYMU) and Nuveen High Yield Municipal Income ETF (NHYM).

HYMU and NHYM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYMU is an actively managed fund by BlackRock. It was launched on Mar 16, 2021. NHYM is an actively managed fund by Nuveen. It was launched on Jan 22, 2025.

Performance

HYMU vs. NHYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock High Yield Muni Income Bond ETF (HYMU) and Nuveen High Yield Municipal Income ETF (NHYM). The values are adjusted to include any dividend payments, if applicable.

HYMU vs. NHYM - Yearly Performance Comparison

	2026 (YTD)	2025
HYMU BlackRock High Yield Muni Income Bond ETF	0.29%	1.91%
NHYM Nuveen High Yield Municipal Income ETF	0.74%	3.25%

Returns By Period

In the year-to-date period, HYMU achieves a 0.29% return, which is significantly lower than NHYM's 0.74% return.

HYMU

• 1D: 0.50%
• 1M: -1.14%
• YTD: 0.29%
• 6M: 1.40%
• 1Y: 1.57%
• 3Y*: 5.45%
• 5Y*: 1.45%
• 10Y*: —

NHYM

• 1D: 0.47%
• 1M: -1.24%
• YTD: 0.74%
• 6M: 2.75%
• 1Y: 3.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYMU vs. NHYM - Expense Ratio Comparison

Both HYMU and NHYM have an expense ratio of 0.35%.

HYMU

BlackRock High Yield Muni Income Bond ETF

NHYM

Nuveen High Yield Municipal Income ETF

Return for Risk

HYMU vs. NHYM — Risk / Return Rank

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

HYMU

HYMU Risk / Return Rank: 18
HYMU Sharpe Ratio Rank: 16
HYMU Sortino Ratio Rank: 14
HYMU Omega Ratio Rank: 18
HYMU Calmar Ratio Rank: 18
HYMU Martin Ratio Rank: 22

NHYM

NHYM Risk / Return Rank: 24
NHYM Sharpe Ratio Rank: 27
NHYM Sortino Ratio Rank: 23
NHYM Omega Ratio Rank: 28
NHYM Calmar Ratio Rank: 23
NHYM Martin Ratio Rank: 20

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.

HYMU vs. NHYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock High Yield Muni Income Bond ETF (HYMU) and Nuveen High Yield Municipal Income ETF (NHYM). 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.

	HYMU	NHYM	Difference
Sharpe ratio Return per unit of total volatility	0.20	0.56	-0.36
Sortino ratio Return per unit of downside risk	0.30	0.74	-0.45
Omega ratio Gain probability vs. loss probability	1.07	1.13	-0.06
Calmar ratio Return relative to maximum drawdown	0.31	0.64	-0.33
Martin ratio Return relative to average drawdown	1.53	1.45	+0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYMU vs. NHYM - Sharpe Ratio Comparison

The current HYMU Sharpe Ratio is 0.20, which is lower than the NHYM Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of HYMU and NHYM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HYMU	NHYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	0.56	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.55	-0.32

Correlation

The correlation between HYMU and NHYM is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HYMU vs. NHYM - Dividend Comparison

HYMU's dividend yield for the trailing twelve months is around 4.51%, less than NHYM's 4.59% yield.

	TTM	2025	2024	2023	2022	2021
HYMU BlackRock High Yield Muni Income Bond ETF	4.51%	4.55%	4.35%	4.35%	4.01%	2.97%
NHYM Nuveen High Yield Municipal Income ETF	4.59%	4.06%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HYMU vs. NHYM - Drawdown Comparison

The maximum HYMU drawdown since its inception was -22.55%, which is greater than NHYM's maximum drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for HYMU and NHYM.

Drawdown Indicators

	HYMU	NHYM	Difference
Max Drawdown Largest peak-to-trough decline	-22.55%	-6.11%	-16.44%
Max Drawdown (1Y) Largest decline over 1 year	-6.54%	-5.52%	-1.02%
Max Drawdown (5Y) Largest decline over 5 years	-22.55%	—	—
Current Drawdown Current decline from peak	-1.39%	-1.62%	+0.23%
Average Drawdown Average peak-to-trough decline	-6.97%	-1.89%	-5.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	2.45%	-1.08%

Volatility

HYMU vs. NHYM - Volatility Comparison

The current volatility for BlackRock High Yield Muni Income Bond ETF (HYMU) is 1.29%, while Nuveen High Yield Municipal Income ETF (NHYM) has a volatility of 1.62%. This indicates that HYMU experiences smaller price fluctuations and is considered to be less risky than NHYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYMU	NHYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	1.62%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	1.81%	2.70%	-0.89%
Volatility (1Y) Calculated over the trailing 1-year period	7.95%	6.36%	+1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.08%	6.20%	+0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.05%	6.20%	+0.85%