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. Their 0.68 correlation means they have sometimes moved together and sometimes differently. MLN charges 0.24%/yr vs 0.32%/yr for THYM.
Performance
MLN vs. THYM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MLN achieves a 1.01% return, which is significantly lower than THYM's 2.25% return.
MLN
- 1D
- -0.26%
- 1M
- -2.20%
- 6M
- 0.87%
- YTD
- 1.01%
- 1Y
- 7.33%
- 3Y*
- 2.80%
- 5Y*
- -1.42%
- 10Y*
- 1.23%
- ALL TIME*
- 2.84%
THYM
- 1D
- 0.00%
- 1M
- -2.31%
- 6M
- 1.43%
- YTD
- 2.25%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.96M | $2.78M | $3.87M | |
| $170.69K | $138.29K | $131.50K |
MLN vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MLN VanEck Long Muni ETF | 1.01% | 0.13% |
THYM T. Rowe Price High Income Municipal ETF | 2.25% | 0.25% |
Correlation
The correlation between MLN and THYM is 0.68, 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 | 0.68 |
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
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 | 1.40 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | — | — |
| Martin ratioReturn relative to average drawdown | 10.75 | — | — |
Loading charts...
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.
Loading charts...
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 | -8.73% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.46% | — | — |
Current DrawdownCurrent decline from peak | -7.42% | -2.31% | -5.11% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -0.55% | -5.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | — | — |
Volatility
MLN vs. THYM - Volatility Comparison
Loading charts...
Volatility by Period
| MLN | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 4.41% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.34% | 4.41% | +2.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.88% | 4.41% | +4.47% |
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 3.85%, more than THYM's 2.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLN VanEck Long Muni ETF | 3.53% | 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 | 2.99% | 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 0.68, 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 3.53%, compared with 2.99% 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.
Find the right allocation for MLN and THYM
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