NHYM vs. THYM
NHYM (Nuveen High Yield Municipal Income ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both High Yield Muni funds. Both are actively managed. Their 0.65 correlation means they have sometimes moved together and sometimes differently. NHYM charges 0.35%/yr vs 0.32%/yr for THYM.
Performance
NHYM vs. THYM - Performance Comparison
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Returns By Period
In the year-to-date period, NHYM achieves a 1.57% return, which is significantly lower than THYM's 2.25% return.
NHYM
- 1D
- -0.18%
- 1M
- -1.52%
- 6M
- 1.04%
- YTD
- 1.57%
- 1Y
- 7.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.15%
THYM
- 1D
- 0.00%
- 1M
- -2.31%
- 6M
- 1.43%
- YTD
- 2.25%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $370.71K | $444.40K | $624.01K | |
| $170.69K | $138.29K | $131.50K |
NHYM vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NHYM Nuveen High Yield Municipal Income ETF | 1.57% | 0.54% |
THYM T. Rowe Price High Income Municipal ETF | 2.25% | 0.25% |
Correlation
The correlation between NHYM and THYM is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | 0.65 |
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Return for Risk
NHYM vs. THYM — Risk / Return Rank
NHYM
THYM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NHYM vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen High Yield Municipal Income ETF (NHYM) 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.
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.
| NHYM | THYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.43 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | — | — |
| Martin ratioReturn relative to average drawdown | 10.90 | — | — |
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Drawdowns
NHYM vs. THYM - Drawdown Comparison
The maximum NHYM drawdown since its inception was -6.11%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for NHYM and THYM.
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Drawdown Indicators
| NHYM | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.11% | -2.93% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | — | — |
Current DrawdownCurrent decline from peak | -1.66% | -2.31% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -1.60% | -0.55% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | — | — |
Volatility
NHYM vs. THYM - Volatility Comparison
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Volatility by Period
| NHYM | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 4.41% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.69% | 4.41% | +1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.69% | 4.41% | +1.28% |
NHYM vs. THYM - Expense Ratio Comparison
NHYM has a 0.35% expense ratio, which is higher than THYM's 0.32% expense ratio.
Dividends
NHYM vs. THYM - Dividend Comparison
NHYM's dividend yield for the trailing twelve months is around 4.60%, more than THYM's 2.99% yield.
| Position | TTM | 2025 |
|---|---|---|
NHYM Nuveen High Yield Municipal Income ETF | 4.20% | 4.06% |
THYM T. Rowe Price High Income Municipal ETF | 2.99% | 0.37% |
Frequently Asked Questions
NHYM and THYM have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, THYM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
THYM is cheaper with a 0.32% expense ratio, compared with 0.35% for NHYM.
NHYM has the higher dividend yield at 4.20%, compared with 2.99% for THYM.
They also come from different issuers: Nuveen and T. Rowe Price. Their fees differ too: 0.35% for NHYM and 0.32% for THYM.
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