ITM vs. HYMB
ITM (VanEck Intermediate Muni ETF) and HYMB (State Street SPDR Nuveen ICE High Yield Municipal Bond ETF) are both Municipal Bonds funds - ITM tracks the Bloomberg AMT-Free Intermediate Continuous while HYMB tracks the ICE US Select High Yield Crossover Municipal Index. Both are passively managed. Over the past 10 years, ITM returned 1.62%/yr vs 2.16%/yr for HYMB. Their 0.54 correlation means they have sometimes moved together and sometimes differently. ITM charges 0.24%/yr vs 0.35%/yr for HYMB.
Performance
ITM vs. HYMB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ITM achieves a -1.18% return, which is significantly lower than HYMB's 2.11% return. Over the past 10 years, ITM has underperformed HYMB with an annualized return of 1.62%, while HYMB has yielded a comparatively higher 2.16% annualized return.
ITM
- 1D
- -0.04%
- 1M
- -2.05%
- 6M
- -1.76%
- YTD
- -1.18%
- 1Y
- 3.54%
- 3Y*
- 2.75%
- 5Y*
- -0.07%
- 10Y*
- 1.62%
- ALL TIME*
- 3.21%
HYMB
- 1D
- -0.16%
- 1M
- -1.89%
- 6M
- 1.46%
- YTD
- 2.11%
- 1Y
- 6.50%
- 3Y*
- 4.39%
- 5Y*
- 0.00%
- 10Y*
- 2.16%
- ALL TIME*
- 4.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.30M | $37.83M | $29.23M | |
| $16.58M | $12.20M | $10.73M |
ITM vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITM VanEck Intermediate Muni ETF | -1.18% | 5.34% | 0.73% | 5.69% | -9.33% | 0.21% | 5.87% | 8.46% | 0.96% | 6.13% |
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 2.11% | 2.04% | 5.52% | 7.73% | -15.54% | 5.16% | 3.74% | 9.51% | 4.91% | 3.22% |
Correlation
The correlation between ITM and HYMB is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | 0.54 |
Over the past year, ITM and HYMB have become more correlated (0.79) than their long-term average of 0.54, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ITM vs. HYMB — Risk / Return Rank
ITM
HYMB
ITM vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Intermediate Muni ETF (ITM) and State Street SPDR Nuveen ICE 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.
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.
| ITM | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 2.32 | -1.11 |
| Martin ratioReturn relative to average drawdown | 3.24 | 9.52 | -6.28 |
Loading charts...
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.
Loading charts...
Drawdown Indicators
| ITM | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.75% | -29.57% | +4.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -3.11% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -4.67% | -6.66% | +1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -14.99% | -20.10% | +5.11% |
Max Drawdown (10Y)Largest decline over 10 years | -24.75% | -29.57% | +4.82% |
Current DrawdownCurrent decline from peak | -3.07% | -1.89% | -1.18% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -3.77% | +0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 0.76% | +0.52% |
Volatility
ITM vs. HYMB - Volatility Comparison
The current volatility for VanEck Intermediate Muni ETF (ITM) is 0.98%, while State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB) has a volatility of 1.16%. 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.
Loading charts...
Volatility by Period
| ITM | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.16% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 3.25% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.97% | 4.05% | -1.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.32% | 6.68% | -2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 11.36% | -4.26% |
ITM vs. HYMB - Expense Ratio Comparison
ITM has a 0.24% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Dividends
ITM vs. HYMB - Dividend Comparison
ITM's dividend yield for the trailing twelve months is around 3.02%, less than HYMB's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 4.21% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
ITM VanEck Intermediate Muni ETF | 2.77% | 2.86% | 2.73% | 2.40% | 1.92% | 1.70% | 2.13% | 2.44% | 2.33% | 2.21% | 2.29% | 2.28% |
Frequently Asked Questions
ITM and HYMB have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYMB has higher volatility (1.16%) compared to ITM (0.98%). In terms of maximum drawdown, ITM dropped -24.75% vs HYMB's -29.57%.
On 10-year performance, HYMB leads with 2.16% vs 1.62% for ITM. On fees, ITM is cheaper at 0.24% per year. On volatility, ITM has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYMB has performed better with a 2.16% return vs 1.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITM is cheaper with a 0.24% expense ratio, compared with 0.35% for HYMB.
HYMB has the higher dividend yield at 4.21%, compared with 2.77% for ITM.
ITM tracks Bloomberg AMT-Free Intermediate Continuous, while HYMB tracks ICE US Select High Yield Crossover Municipal Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.24% for ITM and 0.35% for HYMB.
HYMB currently has the higher Sharpe Ratio (1.79 vs 1.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for ITM and HYMB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer