NHYMX vs. SPHY
Compare and contrast key facts about Northern High Yield Municipal Fund (NHYMX) and SPDR Portfolio High Yield Bond ETF (SPHY).
NHYMX is managed by Northern Funds. It was launched on Dec 30, 1998. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NHYMX or SPHY.
Key characteristics
| NHYMX | SPHY | |
|---|---|---|
| YTD Return | 2.10% | 2.29% |
| 1Y Return | 6.05% | 11.68% |
| 3Y Return (Ann) | -2.80% | 2.25% |
| 5Y Return (Ann) | 0.11% | 4.30% |
| 10Y Return (Ann) | 2.24% | 4.11% |
| Sharpe Ratio | 1.10 | 2.02 |
| Daily Std Dev | 4.96% | 5.79% |
| Max Drawdown | -25.86% | -21.97% |
| Current Drawdown | -10.77% | -0.17% |
Correlation
The correlation between NHYMX and SPHY is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
NHYMX vs. SPHY - Performance Comparison
In the year-to-date period, NHYMX achieves a 2.10% return, which is significantly lower than SPHY's 2.29% return. Over the past 10 years, NHYMX has underperformed SPHY with an annualized return of 2.24%, while SPHY has yielded a comparatively higher 4.11% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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NHYMX vs. SPHY - Expense Ratio Comparison
NHYMX has a 0.59% expense ratio, which is higher than SPHY's 0.10% expense ratio.
Risk-Adjusted Performance
NHYMX vs. SPHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern High Yield Municipal Fund (NHYMX) and SPDR Portfolio High Yield Bond ETF (SPHY). 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.
Dividends
NHYMX vs. SPHY - Dividend Comparison
NHYMX's dividend yield for the trailing twelve months is around 4.54%, less than SPHY's 7.71% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NHYMX Northern High Yield Municipal Fund | 4.54% | 4.62% | 4.06% | 3.15% | 3.65% | 2.10% | 4.26% | 4.23% | 3.63% | 3.83% | 4.66% | 4.92% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.71% | 7.30% | 6.47% | 5.14% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% | 3.98% | 4.41% |
Drawdowns
NHYMX vs. SPHY - Drawdown Comparison
The maximum NHYMX drawdown since its inception was -25.86%, which is greater than SPHY's maximum drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for NHYMX and SPHY. For additional features, visit the drawdowns tool.
Volatility
NHYMX vs. SPHY - Volatility Comparison
The current volatility for Northern High Yield Municipal Fund (NHYMX) is 0.92%, while SPDR Portfolio High Yield Bond ETF (SPHY) has a volatility of 1.30%. This indicates that NHYMX experiences smaller price fluctuations and is considered to be less risky than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.