PortfoliosLab logo
PortfoliosLab logo
Tools
Performance Analysis
Portfolio Analysis
Factor Model
Portfolios
Lazy PortfoliosUser Portfolios
Discussions
HYMU vs. PZA
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between HYMU and PZA is 0.64, 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.


-0.50.00.51.00.6

Performance

HYMU vs. PZA - Performance Comparison

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

-1.00%0.00%1.00%2.00%3.00%4.00%JulyAugustSeptemberOctoberNovemberDecember
1.70%
0.41%
HYMU
PZA

Key characteristics

Sharpe Ratio

HYMU:

1.32

PZA:

0.15

Sortino Ratio

HYMU:

1.90

PZA:

0.24

Omega Ratio

HYMU:

1.25

PZA:

1.03

Calmar Ratio

HYMU:

0.64

PZA:

0.10

Martin Ratio

HYMU:

8.46

PZA:

0.65

Ulcer Index

HYMU:

0.82%

PZA:

1.28%

Daily Std Dev

HYMU:

5.28%

PZA:

5.37%

Max Drawdown

HYMU:

-22.55%

PZA:

-24.49%

Current Drawdown

HYMU:

-2.84%

PZA:

-5.57%

Returns By Period

In the year-to-date period, HYMU achieves a 6.67% return, which is significantly higher than PZA's 0.41% return.


HYMU

YTD

6.67%

1M

-1.08%

6M

1.75%

1Y

6.96%

5Y*

N/A

10Y*

N/A

PZA

YTD

0.41%

1M

-1.13%

6M

0.14%

1Y

0.62%

5Y*

0.40%

10Y*

2.24%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


HYMU vs. PZA - Expense Ratio Comparison

HYMU has a 0.35% expense ratio, which is higher than PZA's 0.28% expense ratio.


HYMU
BlackRock High Yield Muni Income Bond ETF
Expense ratio chart for HYMU: current value at 0.35% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.35%
Expense ratio chart for PZA: current value at 0.28% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.28%

Risk-Adjusted Performance

HYMU vs. PZA - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock High Yield Muni Income Bond ETF (HYMU) and Invesco National AMT-Free Municipal Bond ETF (PZA). 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.


Sharpe ratio
The chart of Sharpe ratio for HYMU, currently valued at 1.32, compared to the broader market0.002.004.001.320.15
The chart of Sortino ratio for HYMU, currently valued at 1.90, compared to the broader market-2.000.002.004.006.008.0010.001.900.24
The chart of Omega ratio for HYMU, currently valued at 1.25, compared to the broader market0.501.001.502.002.503.001.251.03
The chart of Calmar ratio for HYMU, currently valued at 0.64, compared to the broader market0.005.0010.0015.000.640.10
The chart of Martin ratio for HYMU, currently valued at 8.46, compared to the broader market0.0020.0040.0060.0080.00100.008.460.65
HYMU
PZA

The current HYMU Sharpe Ratio is 1.32, which is higher than the PZA Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of HYMU and PZA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.000.501.001.502.002.503.003.50JulyAugustSeptemberOctoberNovemberDecember
1.32
0.15
HYMU
PZA

Dividends

HYMU vs. PZA - Dividend Comparison

HYMU's dividend yield for the trailing twelve months is around 4.36%, more than PZA's 2.96% yield.


TTM20232022202120202019201820172016201520142013
HYMU
BlackRock High Yield Muni Income Bond ETF
4.36%4.36%4.02%2.96%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PZA
Invesco National AMT-Free Municipal Bond ETF
2.96%2.92%2.69%2.34%2.43%2.80%3.18%3.04%3.23%3.60%3.96%4.26%

Drawdowns

HYMU vs. PZA - Drawdown Comparison

The maximum HYMU drawdown since its inception was -22.55%, smaller than the maximum PZA drawdown of -24.49%. Use the drawdown chart below to compare losses from any high point for HYMU and PZA. For additional features, visit the drawdowns tool.


-7.00%-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%JulyAugustSeptemberOctoberNovemberDecember
-2.84%
-5.57%
HYMU
PZA

Volatility

HYMU vs. PZA - Volatility Comparison

The current volatility for BlackRock High Yield Muni Income Bond ETF (HYMU) is 1.57%, while Invesco National AMT-Free Municipal Bond ETF (PZA) has a volatility of 1.70%. This indicates that HYMU experiences smaller price fluctuations and is considered to be less risky than PZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


1.00%1.50%2.00%2.50%3.00%JulyAugustSeptemberOctoberNovemberDecember
1.57%
1.70%
HYMU
PZA
PortfoliosLab logo
Performance Analysis
Portfolio AnalysisPortfolio PerformanceStock ComparisonSharpe RatioMartin RatioTreynor RatioSortino RatioOmega RatioCalmar RatioSummers Ratio
Community
Discussions


Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

Copyright © 2024 PortfoliosLab