MLN vs. THYM
MLN (VanEck Long Muni ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - MLN is a Municipal Bonds fund tracking the Bloomberg AMT-Free Long Continuous, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. MLN is passively managed, while THYM is actively managed. A 0.66 correlation means they provide meaningful diversification when combined. MLN charges 0.24%/yr vs 0.32%/yr for THYM.
Performance
MLN vs. THYM - Performance Comparison
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Returns By Period
In the year-to-date period, MLN achieves a 2.53% return, which is significantly lower than THYM's 3.61% return.
MLN
- 1D
- 0.00%
- 1M
- 2.41%
- YTD
- 2.53%
- 6M
- 2.00%
- 1Y
- 8.68%
- 3Y*
- 3.45%
- 5Y*
- -0.94%
- 10Y*
- 1.37%
THYM
- 1D
- -0.21%
- 1M
- 1.68%
- YTD
- 3.61%
- 6M
- 3.80%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MLN vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MLN VanEck Long Muni ETF | 2.53% | 0.13% |
THYM T. Rowe Price High Income Municipal ETF | 3.61% | 0.25% |
Correlation
The correlation between MLN and THYM is 0.66, 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 Nov 20, 2025 | 0.66 |
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Return for Risk
MLN vs. THYM — Risk / Return Rank
MLN
THYM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MLN vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Long Muni ETF (MLN) 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.
| MLN | THYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.41 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | — | — |
| Martin ratioReturn relative to average drawdown | 11.19 | — | — |
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Drawdowns
MLN vs. THYM - Drawdown Comparison
The maximum MLN drawdown since its inception was -28.36%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for MLN and THYM.
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Drawdown Indicators
| MLN | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.36% | -2.93% | -25.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.56% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -9.84% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.46% | — | — |
Current DrawdownCurrent decline from peak | -6.02% | -0.24% | -5.78% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -0.47% | -5.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | — | — |
Volatility
MLN vs. THYM - Volatility Comparison
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Volatility by Period
| MLN | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.42% | 4.31% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.32% | 4.31% | +3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.88% | 4.31% | +4.57% |
MLN vs. THYM - Expense Ratio Comparison
MLN has a 0.24% expense ratio, which is lower than THYM's 0.32% expense ratio.
Dividends
MLN vs. THYM - Dividend Comparison
MLN's dividend yield for the trailing twelve months is around 3.69%, more than THYM's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLN VanEck Long Muni ETF | 3.69% | 3.73% | 3.59% | 3.19% | 2.67% | 2.52% | 2.69% | 2.98% | 3.09% | 2.91% | 3.16% | 3.38% |
THYM T. Rowe Price High Income Municipal ETF | 2.18% | 0.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MLN and THYM have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MLN is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MLN is cheaper with a 0.24% expense ratio, compared with 0.32% for THYM.
MLN has the higher dividend yield at 3.69%, compared with 2.18% for THYM.
MLN is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: VanEck and T. Rowe Price. Their fees differ too: 0.24% for MLN and 0.32% for THYM.
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