MUND vs. THYM

Last updated Jun 7, 2026

MUND (Northern Trust 2055 Tax-Exempt Distributing Ladder ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - MUND 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. At a 0.44 correlation, their price movements are largely independent. MUND charges 0.18%/yr vs 0.32%/yr for THYM.

Performance

MUND vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2055 Tax-Exempt Distributing Ladder ETF (MUND) 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, MUND achieves a 1.28% return, which is significantly lower than THYM's 3.16% return.

MUND

• 1D: -0.09%
• 1M: -0.18%
• YTD: 1.28%
• 6M: 1.54%
• 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)

MUND vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
MUND Northern Trust 2055 Tax-Exempt Distributing Ladder ETF	1.28%	0.26%
THYM T. Rowe Price High Income Municipal ETF	3.16%	0.27%

Correlation

The correlation between MUND and THYM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.44

Return for Risk

MUND vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2055 Tax-Exempt Distributing Ladder ETF (MUND) 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

	MUND	THYM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.50	-0.51

Drawdowns

MUND vs. THYM - Drawdown Comparison

The maximum MUND drawdown since its inception was -4.19%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for MUND and THYM.

Drawdown Indicators

	MUND	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-4.19%	-2.93%	-1.26%
Current Drawdown Current decline from peak	-1.96%	-0.52%	-1.44%
Average Drawdown Average peak-to-trough decline	-1.88%	-0.49%	-1.39%

Volatility

Volatility by Period

	MUND	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.29%	4.40%	+2.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.29%	4.40%	+2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.29%	4.40%	+2.89%

MUND vs. THYM - Expense Ratio Comparison

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

Dividends

MUND vs. THYM - Dividend Comparison

MUND's dividend yield for the trailing twelve months is around 2.81%, more than THYM's 2.19% yield.

Position	TTM	2025
MUND Northern Trust 2055 Tax-Exempt Distributing Ladder ETF	2.81%	1.32%
THYM T. Rowe Price High Income Municipal ETF	2.19%	0.37%

Frequently Asked Questions

Can I hold both MUND and THYM in my portfolio?

MUND and THYM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MUND or THYM?

On fees, MUND 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, MUND or THYM?

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

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

MUND has the higher dividend yield at 2.81%, compared with 2.19% for THYM.

What is the main difference between MUND and THYM?

MUND 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 MUND and 0.32% for THYM.