OXLCP vs. HYMB

Last updated Jun 4, 2026

OXLCP (Oxford Lane Capital Corp.) is a stock, while HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) is Municipal Bonds fund tracking the Bloomberg Municipal Yield. Over the past 5 years, OXLCP returned 6.76%/yr vs 0.42%/yr for HYMB. At a 0.10 correlation, their price movements are largely independent.

Performance

OXLCP vs. HYMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oxford Lane Capital Corp. (OXLCP) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OXLCP achieves a 4.37% return, which is significantly higher than HYMB's 2.87% return.

OXLCP

• 1D: 0.00%
• 1M: 0.36%
• YTD: 4.37%
• 6M: 4.86%
• 1Y: 9.91%
• 3Y*: 10.45%
• 5Y*: 6.76%
• 10Y*: —

HYMB

• 1D: -0.04%
• 1M: 1.19%
• YTD: 2.87%
• 6M: 3.18%
• 1Y: 7.43%
• 3Y*: 5.09%
• 5Y*: 0.42%
• 10Y*: 2.46%

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

OXLCP vs. HYMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
OXLCP Oxford Lane Capital Corp.	4.37%	9.04%	12.26%	8.13%	-4.30%	17.17%	-0.74%
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	2.87%	2.04%	5.52%	7.73%	-15.54%	5.16%	1.41%

Correlation

The correlation between OXLCP and HYMB is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Feb 7, 2020	0.10

The correlation between OXLCP and HYMB shifts across timeframes, from -0.10 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OXLCP vs. HYMB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OXLCP

OXLCP Risk / Return Rank: 95
OXLCP Sharpe Ratio Rank: 92
OXLCP Sortino Ratio Rank: 93
OXLCP Omega Ratio Rank: 94
OXLCP Calmar Ratio Rank: 97
OXLCP Martin Ratio Rank: 98

HYMB

HYMB Risk / Return Rank: 53
HYMB Sharpe Ratio Rank: 53
HYMB Sortino Ratio Rank: 54
HYMB Omega Ratio Rank: 60
HYMB Calmar Ratio Rank: 48
HYMB Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OXLCP vs. HYMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oxford Lane Capital Corp. (OXLCP) 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.

	OXLCP	HYMB	Difference
Sharpe ratio: Return per unit of total volatility	2.49	1.84	+0.65
Sortino ratio: Return per unit of downside risk	3.78	2.63	+1.14
Omega ratio: Gain probability vs. loss probability	1.53	1.37	+0.16
Calmar ratio: Return relative to maximum drawdown	10.26	2.40	+7.86
Martin ratio: Return relative to average drawdown	29.32	8.51	+20.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OXLCP vs. HYMB - Sharpe Ratio Comparison

The current OXLCP Sharpe Ratio is 2.49, which is higher than the HYMB Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of OXLCP and HYMB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OXLCP	HYMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	1.84	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.06	+0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.45	-0.17

Drawdowns

OXLCP vs. HYMB - Drawdown Comparison

The maximum OXLCP drawdown since its inception was -49.79%, which is greater than HYMB's maximum drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for OXLCP and HYMB.

Drawdown Indicators

	OXLCP	HYMB	Difference
Max Drawdown Largest peak-to-trough decline	-49.79%	-29.57%	-20.22%
Max Drawdown (1Y) Largest decline over 1 year	-0.97%	-3.11%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	-1.90%	-7.44%	+5.54%
Max Drawdown (5Y) Largest decline over 5 years	-11.72%	-20.15%	+8.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.57%	—
Current Drawdown Current decline from peak	-0.25%	-0.04%	-0.21%
Average Drawdown Average peak-to-trough decline	-2.40%	-3.81%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.88%	-0.54%

Volatility

OXLCP vs. HYMB - Volatility Comparison

The current volatility for Oxford Lane Capital Corp. (OXLCP) is 0.70%, while SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a volatility of 1.35%. This indicates that OXLCP 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.

Volatility by Period

	OXLCP	HYMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	1.35%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	2.58%	3.14%	-0.56%
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	4.05%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.33%	6.66%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.11%	11.36%	+13.75%

Dividends

OXLCP vs. HYMB - Dividend Comparison

OXLCP's dividend yield for the trailing twelve months is around 6.25%, more than HYMB's 4.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	4.54%	4.55%	4.29%	4.07%	3.77%	3.19%	3.55%	3.95%	4.03%	3.78%	4.08%	4.54%
OXLCP Oxford Lane Capital Corp.	6.25%	6.35%	6.49%	6.82%	6.89%	6.18%	6.02%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OXLCP and HYMB in my portfolio?

OXLCP and HYMB have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OXLCP or HYMB?

HYMB has higher volatility (1.35%) compared to OXLCP (0.70%). In terms of maximum drawdown, OXLCP dropped -49.79% vs HYMB's -29.57%.

Which has better risk-adjusted returns?

OXLCP currently has the higher Sharpe Ratio (2.49 vs 1.84), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.