MMIN vs. HYMB
MMIN (IQ MacKay Municipal Insured ETF) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both Municipal Bonds funds - MMIN tracks the Bloomberg Barclays Municipal All Insured Bond Index while HYMB tracks the Bloomberg Municipal Yield. Both are passively managed. Over the past 5 years, MMIN returned 0.78%/yr vs 0.44%/yr for HYMB. A 0.55 correlation means they provide meaningful diversification when combined. MMIN charges 0.31%/yr vs 0.35%/yr for HYMB.
Performance
MMIN vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, MMIN achieves a 2.53% return, which is significantly lower than HYMB's 3.44% return.
MMIN
- 1D
- -0.17%
- 1M
- 1.69%
- YTD
- 2.53%
- 6M
- 2.52%
- 1Y
- 8.22%
- 3Y*
- 3.91%
- 5Y*
- 0.78%
- 10Y*
- —
HYMB
- 1D
- 0.00%
- 1M
- 1.79%
- YTD
- 3.44%
- 6M
- 3.40%
- 1Y
- 7.20%
- 3Y*
- 4.88%
- 5Y*
- 0.44%
- 10Y*
- 2.34%
MMIN vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMIN IQ MacKay Municipal Insured ETF | 2.53% | 4.65% | 0.93% | 7.45% | -11.20% | 1.35% | 7.47% | 8.08% | 1.97% | 1.00% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 3.44% | 2.04% | 5.52% | 7.73% | -15.54% | 5.16% | 3.74% | 9.51% | 4.91% | 0.30% |
Correlation
The correlation between MMIN and HYMB is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2017 | 0.55 |
The correlation between MMIN and HYMB shifts across timeframes, from 0.55 (all time) to 0.73 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MMIN vs. HYMB — Risk / Return Rank
MMIN
HYMB
MMIN vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Insured ETF (MMIN) 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.
| MMIN | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.37 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 2.33 | +0.54 |
| Martin ratioReturn relative to average drawdown | 10.54 | 8.25 | +2.30 |
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Drawdowns
MMIN vs. HYMB - Drawdown Comparison
The maximum MMIN drawdown since its inception was -16.87%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for MMIN and HYMB.
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Drawdown Indicators
| MMIN | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.87% | -29.57% | +12.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -3.11% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -7.22% | -7.44% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -16.87% | -20.15% | +3.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | -0.17% | 0.00% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -3.79% | -0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.88% | -0.10% |
Volatility
MMIN vs. HYMB - Volatility Comparison
IQ MacKay Municipal Insured ETF (MMIN) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) have volatilities of 0.85% 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
| MMIN | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.85% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 3.18% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 4.03% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 6.67% | -1.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.95% | 11.36% | -4.41% |
MMIN vs. HYMB - Expense Ratio Comparison
MMIN has a 0.31% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Dividends
MMIN vs. HYMB - Dividend Comparison
MMIN's dividend yield for the trailing twelve months is around 4.11%, less than HYMB's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.52% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
MMIN IQ MacKay Municipal Insured ETF | 4.11% | 4.07% | 3.96% | 3.73% | 2.93% | 1.72% | 2.21% | 2.75% | 2.78% | 0.47% | 0.00% | 0.00% |
Frequently Asked Questions
MMIN and HYMB have a correlation of 0.61, 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 MMIN (0.85%). In terms of maximum drawdown, MMIN dropped -16.87% vs HYMB's -29.57%.
On 5-year performance, MMIN leads with 0.78% vs 0.44% for HYMB. On fees, MMIN is cheaper at 0.31% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MMIN has performed better with a 0.78% return vs 0.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MMIN is cheaper with a 0.31% expense ratio, compared with 0.35% for HYMB.
HYMB has the higher dividend yield at 4.52%, compared with 4.11% for MMIN.
MMIN tracks Bloomberg Barclays Municipal All Insured Bond Index, while HYMB tracks Bloomberg Municipal Yield. They also come from different issuers: New York Life and State Street. Their fees differ too: 0.31% for MMIN and 0.35% for HYMB.
MMIN currently has the higher Sharpe Ratio (2.24 vs 1.79), 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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