IBMS vs. THYM

Last updated Aug 1, 2026

IBMS (iShares iBonds Dec 2030 Term Muni Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - IBMS is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2030 Index, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. IBMS is passively managed, while THYM is actively managed. Their 0.59 correlation means they have sometimes moved together and sometimes differently. IBMS charges 0.18%/yr vs 0.32%/yr for THYM.

Performance

IBMS vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2030 Term Muni Bond ETF (IBMS) 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, IBMS achieves a -0.28% return, which is significantly lower than THYM's 2.25% return.

IBMS

• 1D: -0.03%
• 1M: -0.85%
• 6M: -1.10%
• YTD: -0.28%
• 1Y: 1.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.70%

THYM

• 1D: 0.00%
• 1M: -2.31%
• 6M: 1.43%
• YTD: 2.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBMS iShares iBonds Dec 2030 Term Muni Bond ETF	$1.34M	$1.43M	$1.57M
THYM T. Rowe Price High Income Municipal ETF	$170.69K	$138.29K	$131.50K

IBMS vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
IBMS iShares iBonds Dec 2030 Term Muni Bond ETF	-0.28%	0.80%
THYM T. Rowe Price High Income Municipal ETF	2.25%	0.25%

Correlation

The correlation between IBMS and THYM is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.59

Return for Risk

IBMS vs. THYM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IBMS

IBMS Risk / Return Rank: 39
IBMS Sharpe Ratio Rank: 45
IBMS Sortino Ratio Rank: 43
IBMS Omega Ratio Rank: 49
IBMS Calmar Ratio Rank: 31
IBMS Martin Ratio Rank: 27

THYM

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IBMS vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2030 Term Muni Bond ETF (IBMS) 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.

	IBMS	THYM	Difference
Sharpe ratio: Return per unit of total volatility	1.12	—	—
Sortino ratio: Return per unit of downside risk	1.62	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.01	—	—
Martin ratio: Return relative to average drawdown	2.30	—	—

Drawdowns

IBMS vs. THYM - Drawdown Comparison

The maximum IBMS drawdown since its inception was -3.01%, roughly equal to the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for IBMS and THYM.

Drawdown Indicators

	IBMS	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-3.01%	-2.93%	-0.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.25%	—	—
Current Drawdown Current decline from peak	-1.79%	-2.31%	+0.52%
Average Drawdown Average peak-to-trough decline	-0.74%	-0.55%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	—	—

Volatility

Volatility by Period

	IBMS	THYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.47%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.03%	4.41%	-2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.99%	4.41%	-1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.99%	4.41%	-1.42%

IBMS vs. THYM - Expense Ratio Comparison

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

Dividends

IBMS vs. THYM - Dividend Comparison

IBMS's dividend yield for the trailing twelve months is around 2.52%, less than THYM's 2.99% yield.

Position	TTM	2025	2024
IBMS iShares iBonds Dec 2030 Term Muni Bond ETF	2.29%	2.49%	1.38%
THYM T. Rowe Price High Income Municipal ETF	2.99%	0.37%	0.00%

Frequently Asked Questions

Can I hold both IBMS and THYM in my portfolio?

IBMS and THYM have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBMS or THYM?

On fees, IBMS 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, IBMS or THYM?

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

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

THYM has the higher dividend yield at 2.99%, compared with 2.29% for IBMS.

What is the main difference between IBMS and THYM?

IBMS 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 IBMS and 0.32% for THYM.