ITM vs. HYMB
Compare and contrast key facts about VanEck Intermediate Muni ETF (ITM) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB).
ITM and HYMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ITM is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Intermediate Continuous. It was launched on Dec 4, 2007. HYMB is a passively managed fund by State Street that tracks the performance of the Bloomberg Municipal Yield. It was launched on Apr 13, 2011. Both ITM and HYMB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ITM or HYMB.
Key characteristics
| ITM | HYMB | |
|---|---|---|
| YTD Return | -0.93% | 2.76% |
| 1Y Return | 2.62% | 7.40% |
| 3Y Return (Ann) | -1.56% | -1.49% |
| 5Y Return (Ann) | 0.80% | 1.29% |
| 10Y Return (Ann) | 2.15% | 3.08% |
| Sharpe Ratio | 0.59 | 1.08 |
| Daily Std Dev | 4.36% | 6.70% |
| Max Drawdown | -24.75% | -29.57% |
| Current Drawdown | -6.05% | -6.74% |
Correlation
The correlation between ITM and HYMB is 0.49, 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.
Performance
ITM vs. HYMB - Performance Comparison
In the year-to-date period, ITM achieves a -0.93% return, which is significantly lower than HYMB's 2.76% return. Over the past 10 years, ITM has underperformed HYMB with an annualized return of 2.15%, while HYMB has yielded a comparatively higher 3.08% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ITM vs. HYMB - Expense Ratio Comparison
ITM has a 0.24% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Risk-Adjusted Performance
ITM vs. HYMB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Intermediate Muni ETF (ITM) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB). 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.
Dividends
ITM vs. HYMB - Dividend Comparison
ITM's dividend yield for the trailing twelve months is around 2.54%, less than HYMB's 4.11% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITM VanEck Intermediate Muni ETF | 2.54% | 2.40% | 1.92% | 1.70% | 2.13% | 2.32% | 2.33% | 2.21% | 2.29% | 2.28% | 2.42% | 2.63% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.11% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% | 4.49% | 5.17% |
Drawdowns
ITM vs. HYMB - Drawdown Comparison
The maximum ITM drawdown since its inception was -24.75%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for ITM and HYMB. For additional features, visit the drawdowns tool.
Volatility
ITM vs. HYMB - Volatility Comparison
The current volatility for VanEck Intermediate Muni ETF (ITM) is 0.72%, while SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a volatility of 1.15%. This indicates that ITM experiences smaller price fluctuations and is considered to be less risky than HYMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.