JMUB vs. THYM

Last updated Aug 2, 2026

JMUB (JPMorgan Municipal ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - JMUB is a Municipal Bonds fund actively managed by JPMorgan, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. Both are actively managed. Their 0.75 correlation means they have sometimes moved together and sometimes differently. JMUB charges 0.18%/yr vs 0.32%/yr for THYM.

Performance

JMUB vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Municipal ETF (JMUB) 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, JMUB achieves a 0.28% return, which is significantly lower than THYM's 2.25% return.

JMUB

• 1D: -0.11%
• 1M: -1.60%
• 6M: -0.39%
• YTD: 0.28%
• 1Y: 4.03%
• 3Y*: 3.28%
• 5Y*: 0.80%
• 10Y*: —
• ALL TIME*: 2.86%

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)
JMUB JPMorgan Municipal ETF	$53.39M	$63.40M	$50.76M
THYM T. Rowe Price High Income Municipal ETF	$170.69K	$138.29K	$131.50K

JMUB vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
JMUB JPMorgan Municipal ETF	0.28%	0.38%
THYM T. Rowe Price High Income Municipal ETF	2.25%	0.25%

Correlation

The correlation between JMUB and THYM is 0.75, 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	0.75

Return for Risk

JMUB vs. THYM — Risk / Return Rank

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

JMUB

JMUB Risk / Return Rank: 69
JMUB Sharpe Ratio Rank: 80
JMUB Sortino Ratio Rank: 79
JMUB Omega Ratio Rank: 87
JMUB Calmar Ratio Rank: 50
JMUB Martin Ratio Rank: 50

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.

JMUB vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Municipal ETF (JMUB) 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.

	JMUB	THYM	Difference
Sharpe ratio: Return per unit of total volatility	1.83	—	—
Sortino ratio: Return per unit of downside risk	2.53	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	1.79	—	—
Martin ratio: Return relative to average drawdown	5.81	—	—

Drawdowns

JMUB vs. THYM - Drawdown Comparison

The maximum JMUB drawdown since its inception was -12.50%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for JMUB and THYM.

Drawdown Indicators

	JMUB	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-12.50%	-2.93%	-9.57%
Max Drawdown (1Y) Largest decline over 1 year	-2.55%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.06%	—	—
Current Drawdown Current decline from peak	-1.64%	-2.31%	+0.67%
Average Drawdown Average peak-to-trough decline	-2.47%	-0.55%	-1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	—	—

Volatility

Volatility by Period

	JMUB	THYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.50%	4.41%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	4.41%	-1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.12%	4.41%	-0.29%

JMUB vs. THYM - Expense Ratio Comparison

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

Dividends

JMUB vs. THYM - Dividend Comparison

JMUB's dividend yield for the trailing twelve months is around 3.65%, more than THYM's 2.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JMUB JPMorgan Municipal ETF	3.36%	3.52%	3.50%	3.20%	2.16%	1.94%	2.13%	3.66%	0.45%
THYM T. Rowe Price High Income Municipal ETF	2.99%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMUB and THYM in my portfolio?

JMUB and THYM have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JMUB or THYM?

On fees, JMUB 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, JMUB or THYM?

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

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

JMUB has the higher dividend yield at 3.36%, compared with 2.99% for THYM.

What is the main difference between JMUB and THYM?

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