LTAX vs. HYMB
LTAX (Nomura Tax-Free USA ETF) and HYMB (State Street SPDR Nuveen ICE High Yield Municipal Bond ETF) are both Municipal Bonds funds. LTAX is actively managed, while HYMB is passively managed. A 0.78 correlation means they provide meaningful diversification when combined. LTAX charges 0.39%/yr vs 0.35%/yr for HYMB.
Performance
LTAX vs. HYMB - Performance Comparison
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Returns By Period
LTAX
- 1D
- -0.20%
- 1M
- -0.20%
- 6M
- 2.01%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYMB
- 1D
- -0.20%
- 1M
- 0.06%
- 6M
- 2.07%
- YTD
- 3.26%
- 1Y
- 8.44%
- 3Y*
- 4.84%
- 5Y*
- 0.23%
- 10Y*
- 2.28%
LTAX vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
LTAX Nomura Tax-Free USA ETF | 1.69% |
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 2.68% |
Correlation
The correlation between LTAX and HYMB is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026 | 0.78 |
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Return for Risk
LTAX vs. HYMB — Risk / Return Rank
LTAX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYMB
LTAX vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nomura Tax-Free USA ETF (LTAX) 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.
| LTAX | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.44 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.73 | — |
| Martin ratioReturn relative to average drawdown | — | 12.37 | — |
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Drawdowns
LTAX vs. HYMB - Drawdown Comparison
The maximum LTAX drawdown since its inception was -3.18%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for LTAX and HYMB.
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Drawdown Indicators
| LTAX | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.18% | -29.57% | +26.39% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.11% | — |
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 | -1.33% | -0.79% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -0.63% | -3.78% | +3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.68% | — |
Volatility
LTAX vs. HYMB - Volatility Comparison
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Volatility by Period
| LTAX | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.87% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.22% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.54% | 4.01% | +1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.54% | 6.67% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 11.36% | -5.82% |
LTAX vs. HYMB - Expense Ratio Comparison
LTAX has a 0.39% expense ratio, which is higher than HYMB's 0.35% expense ratio.
Dividends
LTAX vs. HYMB - Dividend Comparison
LTAX's dividend yield for the trailing twelve months is around 1.67%, less than HYMB's 4.54% 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 | 4.54% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
LTAX Nomura Tax-Free USA ETF | 1.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LTAX and HYMB have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYMB is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYMB is cheaper with a 0.35% expense ratio, compared with 0.39% for LTAX.
HYMB has the higher dividend yield at 4.54%, compared with 1.67% for LTAX.
They also come from different issuers: Nomura and State Street. Their fees differ too: 0.39% for LTAX and 0.35% for HYMB.
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