MUNB vs. THYM

Last updated Jun 7, 2026

MUNB (Northern Trust 2035 Tax-Exempt Distributing Ladder ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - MUNB is a Municipal Bonds fund actively managed by Northern Trust, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. MUNB charges 0.18%/yr vs 0.32%/yr for THYM.

Performance

MUNB vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) and T. Rowe Price High Income Municipal ETF (THYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUNB achieves a 0.68% return, which is significantly lower than THYM's 3.16% return.

MUNB

• 1D: -0.06%
• 1M: 0.28%
• YTD: 0.68%
• 6M: 0.95%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYM

• 1D: -0.52%
• 1M: 0.50%
• YTD: 3.16%
• 6M: 3.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MUNB vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
MUNB Northern Trust 2035 Tax-Exempt Distributing Ladder ETF	0.68%	0.45%
THYM T. Rowe Price High Income Municipal ETF	3.16%	0.27%

Correlation

The correlation between MUNB and THYM is 0.60, 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	0.60

Return for Risk

MUNB vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MUNB	THYM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.71	1.50	+0.21

Drawdowns

MUNB vs. THYM - Drawdown Comparison

The maximum MUNB drawdown since its inception was -2.49%, smaller than the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for MUNB and THYM.

Drawdown Indicators

	MUNB	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-2.49%	-2.93%	+0.44%
Current Drawdown Current decline from peak	-1.13%	-0.52%	-0.61%
Average Drawdown Average peak-to-trough decline	-0.58%	-0.49%	-0.09%

Volatility

Volatility by Period

	MUNB	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.93%	4.40%	-2.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.93%	4.40%	-2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.93%	4.40%	-2.47%

MUNB vs. THYM - Expense Ratio Comparison

MUNB has a 0.18% expense ratio, which is lower than THYM's 0.32% expense ratio.

Dividends

MUNB vs. THYM - Dividend Comparison

MUNB's dividend yield for the trailing twelve months is around 1.80%, less than THYM's 2.19% yield.

Position	TTM	2025
MUNB Northern Trust 2035 Tax-Exempt Distributing Ladder ETF	1.80%	0.90%
THYM T. Rowe Price High Income Municipal ETF	2.19%	0.37%

Frequently Asked Questions

Can I hold both MUNB and THYM in my portfolio?

MUNB and THYM have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MUNB or THYM?

On fees, MUNB is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MUNB or THYM?

MUNB is cheaper with a 0.18% expense ratio, compared with 0.32% for THYM.

Which ETF pays a higher dividend yield, MUNB or THYM?

THYM has the higher dividend yield at 2.19%, compared with 1.80% for MUNB.

What is the main difference between MUNB and THYM?

MUNB is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: Northern Trust and T. Rowe Price. Their fees differ too: 0.18% for MUNB and 0.32% for THYM.