MUB vs. THYM
MUB (iShares National AMT-Free Muni Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. MUB is passively managed, while THYM is actively managed. A 0.78 correlation means they provide meaningful diversification when combined. MUB charges 0.07%/yr vs 0.32%/yr for THYM.
Performance
MUB vs. THYM - Performance Comparison
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Returns By Period
In the year-to-date period, MUB achieves a 1.24% return, which is significantly lower than THYM's 3.33% return.
MUB
- 1D
- -0.08%
- 1M
- 0.56%
- YTD
- 1.24%
- 6M
- 1.74%
- 1Y
- 6.95%
- 3Y*
- 3.43%
- 5Y*
- 0.86%
- 10Y*
- 2.00%
THYM
- 1D
- 0.14%
- 1M
- 1.14%
- YTD
- 3.33%
- 6M
- 3.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUB vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 1.24% | 0.53% |
THYM T. Rowe Price High Income Municipal ETF | 3.33% | 0.27% |
Correlation
The correlation between MUB and THYM 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 Nov 21, 2025 | 0.78 |
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Return for Risk
MUB vs. THYM — Risk / Return Rank
MUB
THYM
MUB vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) 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.
| MUB | THYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.50 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | — | — |
| Martin ratioReturn relative to average drawdown | 8.85 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MUB | THYM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.39 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 1.62 | -1.04 |
Drawdowns
MUB vs. THYM - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for MUB and THYM.
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Drawdown Indicators
| MUB | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -2.93% | -10.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.68% | — | — |
Current DrawdownCurrent decline from peak | -0.70% | 0.00% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -0.49% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | — | — |
Volatility
MUB vs. THYM - Volatility Comparison
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Volatility by Period
| MUB | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.92% | 4.35% | -1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.06% | 4.35% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 4.35% | +0.57% |
MUB vs. THYM - Expense Ratio Comparison
MUB has a 0.07% expense ratio, which is lower than THYM's 0.32% expense ratio.
Dividends
MUB vs. THYM - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 3.17%, more than THYM's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
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
MUB and THYM 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, MUB is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MUB is cheaper with a 0.07% expense ratio, compared with 0.32% for THYM.
MUB has the higher dividend yield at 3.17%, compared with 2.18% for THYM.
MUB is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.07% for MUB and 0.32% for THYM.
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