JHMU vs. HYMB
JHMU (John Hancock Dynamic Municipal Bond ETF) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both Municipal Bonds funds - JHMU tracks the John Hancock Dimensional Utilities Index while HYMB tracks the Bloomberg Municipal Yield. Both are passively managed. Over the past year, JHMU returned 7.06% vs 7.41% for HYMB. A 0.68 correlation means they provide meaningful diversification when combined. JHMU charges 0.39%/yr vs 0.35%/yr for HYMB.
Performance
JHMU vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, JHMU achieves a 2.14% return, which is significantly lower than HYMB's 3.60% return.
JHMU
- 1D
- 0.15%
- 1M
- 1.47%
- YTD
- 2.14%
- 6M
- 2.23%
- 1Y
- 7.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYMB
- 1D
- 0.16%
- 1M
- 1.95%
- YTD
- 3.60%
- 6M
- 3.52%
- 1Y
- 7.41%
- 3Y*
- 4.93%
- 5Y*
- 0.47%
- 10Y*
- 2.36%
JHMU vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JHMU John Hancock Dynamic Municipal Bond ETF | 2.14% | 5.03% | 3.76% | 7.73% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 3.60% | 2.04% | 5.52% | 9.76% |
Correlation
The correlation between JHMU and HYMB is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.68 |
The correlation between JHMU and HYMB has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.
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Return for Risk
JHMU vs. HYMB — Risk / Return Rank
JHMU
HYMB
JHMU vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Dynamic Municipal Bond ETF (JHMU) 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.
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.
| JHMU | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.38 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 2.40 | +0.16 |
| Martin ratioReturn relative to average drawdown | 9.10 | 8.49 | +0.61 |
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Drawdowns
JHMU vs. HYMB - Drawdown Comparison
The maximum JHMU drawdown since its inception was -4.48%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for JHMU and HYMB.
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Drawdown Indicators
| JHMU | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.48% | -29.57% | +25.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -3.11% | +0.34% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.44% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | -0.13% | 0.00% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -0.83% | -3.79% | +2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.87% | -0.09% |
Volatility
JHMU vs. HYMB - Volatility Comparison
John Hancock Dynamic Municipal Bond ETF (JHMU) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) have volatilities of 0.82% and 0.85%, 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.
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Volatility by Period
| JHMU | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.85% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 3.19% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 4.04% | -1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.09% | 6.67% | -2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.09% | 11.36% | -7.27% |
JHMU vs. HYMB - Expense Ratio Comparison
JHMU has a 0.39% expense ratio, which is higher than HYMB's 0.35% expense ratio.
Dividends
JHMU vs. HYMB - Dividend Comparison
JHMU's dividend yield for the trailing twelve months is around 3.71%, less than HYMB's 4.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.51% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
JHMU John Hancock Dynamic Municipal Bond ETF | 3.71% | 4.36% | 7.29% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JHMU and HYMB have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYMB has higher volatility (0.85%) compared to JHMU (0.82%). In terms of maximum drawdown, JHMU dropped -4.48% vs HYMB's -29.57%.
On 1-year performance, HYMB leads with 7.41% vs 7.06% for JHMU. On fees, HYMB is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYMB has performed better with a 7.41% return vs 7.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYMB is cheaper with a 0.35% expense ratio, compared with 0.39% for JHMU.
HYMB has the higher dividend yield at 4.51%, compared with 3.71% for JHMU.
JHMU tracks John Hancock Dimensional Utilities Index, while HYMB tracks Bloomberg Municipal Yield. They also come from different issuers: John Hancock and State Street. Their fees differ too: 0.39% for JHMU and 0.35% for HYMB.
JHMU currently has the higher Sharpe Ratio (2.50 vs 1.85), 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.
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