HYMU vs. SHYM

Last updated Apr 2, 2026

Compare and contrast key facts about BlackRock High Yield Muni Income Bond ETF (HYMU) and iShares Short Duration High Yield Muni Active ETF (SHYM).

HYMU and SHYM 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. SHYM is an actively managed fund by iShares. It was launched on Mar 16, 2021.

Performance

HYMU vs. SHYM - Performance Comparison

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

HYMU vs. SHYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HYMU BlackRock High Yield Muni Income Bond ETF	0.29%	2.58%	6.99%	9.67%	-15.96%	6.71%
SHYM iShares Short Duration High Yield Muni Active ETF	0.29%	2.58%	6.99%	9.67%	-15.96%	6.71%

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with HYMU at 0.29% and SHYM at 0.29%.

HYMU

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

SHYM

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

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

HYMU vs. SHYM - Expense Ratio Comparison

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

HYMU

BlackRock High Yield Muni Income Bond ETF

SHYM

iShares Short Duration High Yield Muni Active ETF

Return for Risk

HYMU vs. SHYM — 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

SHYM

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

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. SHYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock High Yield Muni Income Bond ETF (HYMU) and iShares Short Duration High Yield Muni Active ETF (SHYM). 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	SHYM	Difference
Sharpe ratio Return per unit of total volatility	0.20	0.20	0.00
Sortino ratio Return per unit of downside risk	0.30	0.30	0.00
Omega ratio Gain probability vs. loss probability	1.07	1.07	0.00
Calmar ratio Return relative to maximum drawdown	0.31	0.31	0.00
Martin ratio Return relative to average drawdown	1.53	1.53	0.00
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. SHYM - Sharpe Ratio Comparison

The current HYMU Sharpe Ratio is 0.20, which is comparable to the SHYM Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of HYMU and SHYM, 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	SHYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	0.20	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.21	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.23	0.00

Correlation

The correlation between HYMU and SHYM is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HYMU vs. SHYM - Dividend Comparison

HYMU's dividend yield for the trailing twelve months is around 4.51%, which matches SHYM's 4.51% 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%
SHYM iShares Short Duration High Yield Muni Active ETF	4.51%	4.55%	4.35%	4.35%	4.01%	2.97%

Drawdowns

HYMU vs. SHYM - Drawdown Comparison

The maximum HYMU drawdown since its inception was -22.55%, roughly equal to the maximum SHYM drawdown of -22.55%. Use the drawdown chart below to compare losses from any high point for HYMU and SHYM.

Drawdown Indicators

	HYMU	SHYM	Difference
Max Drawdown Largest peak-to-trough decline	-22.55%	-22.55%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-6.54%	-6.54%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-22.55%	-22.55%	0.00%
Current Drawdown Current decline from peak	-1.39%	-1.39%	0.00%
Average Drawdown Average peak-to-trough decline	-6.97%	-6.97%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	1.37%	0.00%

Volatility

HYMU vs. SHYM - Volatility Comparison

BlackRock High Yield Muni Income Bond ETF (HYMU) and iShares Short Duration High Yield Muni Active ETF (SHYM) have volatilities of 1.29% and 1.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYMU	SHYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	1.29%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	1.81%	1.81%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	7.95%	7.95%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.08%	7.08%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.05%	7.05%	0.00%