MUNI vs. HYMB
Compare and contrast key facts about PIMCO Intermediate Municipal Bond Active ETF (MUNI) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB).
MUNI and HYMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MUNI is an actively managed fund by PIMCO. It was launched on Nov 30, 2009. HYMB is a passively managed fund by State Street that tracks the performance of the Bloomberg Municipal Yield. It was launched on Apr 13, 2011.
Performance
MUNI vs. HYMB - Performance Comparison
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MUNI vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUNI PIMCO Intermediate Municipal Bond Active ETF | 0.26% | 4.72% | 1.43% | 6.07% | -6.62% | 0.67% | 4.83% | 7.09% | 0.84% | 4.86% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 0.82% | 2.04% | 5.52% | 7.73% | -15.54% | 5.16% | 3.74% | 9.51% | 4.91% | 3.22% |
Returns By Period
In the year-to-date period, MUNI achieves a 0.26% return, which is significantly lower than HYMB's 0.82% return. Over the past 10 years, MUNI has underperformed HYMB with an annualized return of 2.18%, while HYMB has yielded a comparatively higher 2.52% annualized return.
MUNI
- 1D
- 0.15%
- 1M
- -1.53%
- YTD
- 0.26%
- 6M
- 1.49%
- 1Y
- 4.51%
- 3Y*
- 3.39%
- 5Y*
- 1.33%
- 10Y*
- 2.18%
HYMB
- 1D
- 0.64%
- 1M
- -1.35%
- YTD
- 0.82%
- 6M
- 2.23%
- 1Y
- 2.88%
- 3Y*
- 4.34%
- 5Y*
- 0.49%
- 10Y*
- 2.52%
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MUNI vs. HYMB - Expense Ratio Comparison
Both MUNI and HYMB have an expense ratio of 0.35%.
Return for Risk
MUNI vs. HYMB — Risk / Return Rank
MUNI
HYMB
MUNI vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Intermediate Municipal Bond Active ETF (MUNI) 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.
| MUNI | HYMB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.18 | 0.49 | +0.69 |
Sortino ratioReturn per unit of downside risk | 1.58 | 0.61 | +0.97 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.12 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.71 | +0.93 |
Martin ratioReturn relative to average drawdown | 5.45 | 1.74 | +3.71 |
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
| MUNI | HYMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 0.49 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.07 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.22 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.44 | +0.33 |
Correlation
The correlation between MUNI and HYMB is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MUNI vs. HYMB - Dividend Comparison
MUNI's dividend yield for the trailing twelve months is around 3.30%, less than HYMB's 4.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.30% | 3.26% | 3.50% | 3.09% | 2.13% | 1.62% | 1.92% | 2.44% | 2.38% | 2.37% | 2.37% | 2.20% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.59% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
Drawdowns
MUNI vs. HYMB - Drawdown Comparison
The maximum MUNI drawdown since its inception was -11.15%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for MUNI and HYMB.
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Drawdown Indicators
| MUNI | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.15% | -29.57% | +18.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -5.07% | +2.14% |
Max Drawdown (5Y)Largest decline over 5 years | -11.15% | -20.15% | +9.00% |
Max Drawdown (10Y)Largest decline over 10 years | -11.15% | -29.57% | +18.42% |
Current DrawdownCurrent decline from peak | -1.75% | -1.57% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -1.74% | -3.84% | +2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 2.06% | -1.18% |
Volatility
MUNI vs. HYMB - Volatility Comparison
The current volatility for PIMCO Intermediate Municipal Bond Active ETF (MUNI) is 1.07%, while SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a volatility of 2.21%. This indicates that MUNI experiences smaller price fluctuations and is considered to be less risky than HYMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUNI | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 2.21% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 2.95% | -1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 5.95% | -2.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.30% | 6.63% | -3.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.85% | 11.34% | -7.49% |