IBMO vs. THYM

Last updated Jul 15, 2026

IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - IBMO is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. IBMO is passively managed, while THYM is actively managed. At a 0.10 correlation, their price movements are largely independent. IBMO charges 0.18%/yr vs 0.32%/yr for THYM.

Performance

IBMO vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) and T. Rowe Price High Income Municipal ETF (THYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMO achieves a 1.10% return, which is significantly lower than THYM's 3.96% return.

IBMO

• 1D: 0.00%
• 1M: 0.09%
• 6M: 0.97%
• YTD: 1.10%
• 1Y: 2.35%
• 3Y*: 2.77%
• 5Y*: 0.62%
• 10Y*: —

THYM

• 1D: 0.21%
• 1M: 0.57%
• 6M: 3.28%
• YTD: 3.96%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBMO vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	1.10%	0.30%
THYM T. Rowe Price High Income Municipal ETF	3.96%	0.25%

Correlation

The correlation between IBMO and THYM is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.10

Return for Risk

IBMO vs. THYM — Risk / Return Rank

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

IBMO

IBMO Risk / Return Rank: 89
IBMO Sharpe Ratio Rank: 82
IBMO Sortino Ratio Rank: 90
IBMO Omega Ratio Rank: 86
IBMO Calmar Ratio Rank: 95
IBMO Martin Ratio Rank: 93

THYM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

IBMO vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) and T. Rowe Price High Income Municipal ETF (THYM). 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.

	IBMO	THYM	Difference
Sharpe ratio: Return per unit of total volatility	2.09	—	—
Sortino ratio: Return per unit of downside risk	3.33	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	6.23	—	—
Martin ratio: Return relative to average drawdown	18.40	—	—

Drawdowns

IBMO vs. THYM - Drawdown Comparison

The maximum IBMO drawdown since its inception was -14.77%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for IBMO and THYM.

Drawdown Indicators

	IBMO	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-14.77%	-2.93%	-11.84%
Max Drawdown (1Y) Largest decline over 1 year	-0.38%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-8.86%	—	—
Current Drawdown Current decline from peak	-0.04%	-0.68%	+0.64%
Average Drawdown Average peak-to-trough decline	-2.29%	-0.46%	-1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.13%	—	—

Volatility

Volatility by Period

	IBMO	THYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.71%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.13%	4.31%	-3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.14%	4.31%	-2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.49%	4.31%	+0.18%

IBMO vs. THYM - Expense Ratio Comparison

IBMO has a 0.18% expense ratio, which is lower than THYM's 0.32% expense ratio.

Dividends

IBMO vs. THYM - Dividend Comparison

IBMO's dividend yield for the trailing twelve months is around 2.40%, less than THYM's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	2.40%	2.37%	2.15%	1.65%	0.89%	0.62%	1.03%	1.01%
THYM T. Rowe Price High Income Municipal ETF	2.56%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBMO and THYM in my portfolio?

IBMO and THYM have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBMO or THYM?

On fees, IBMO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMO or THYM?

IBMO is cheaper with a 0.18% expense ratio, compared with 0.32% for THYM.

Which ETF pays a higher dividend yield, IBMO or THYM?

THYM has the higher dividend yield at 2.56%, compared with 2.40% for IBMO.

What is the main difference between IBMO and THYM?

IBMO is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.18% for IBMO and 0.32% for THYM.