SCYB vs. SCMB
Compare and contrast key facts about Schwab High Yield Bond ETF (SCYB) and Schwab Municipal Bond ETF (SCMB).
SCYB and SCMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCYB is a passively managed fund by Charles Schwab that tracks the performance of the ICE BofA US Cash Pay High Yield Constrained Index. It was launched on Jul 10, 2023. SCMB is a passively managed fund by Schwab that tracks the performance of the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. It was launched on Oct 11, 2022. Both SCYB and SCMB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SCYB or SCMB.
Key characteristics
| SCYB | SCMB | |
|---|---|---|
| YTD Return | 10.64% | 2.61% |
| 1Y Return | 16.51% | 7.47% |
| Sharpe Ratio | 3.81 | 2.01 |
| Sortino Ratio | 6.21 | 2.92 |
| Omega Ratio | 1.78 | 1.40 |
| Calmar Ratio | 8.50 | 3.26 |
| Martin Ratio | 33.36 | 10.73 |
| Ulcer Index | 0.53% | 0.78% |
| Daily Std Dev | 4.64% | 4.15% |
| Max Drawdown | -3.57% | -5.62% |
| Current Drawdown | -0.49% | -1.37% |
Correlation
The correlation between SCYB and SCMB is 0.54, 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.
Performance
SCYB vs. SCMB - Performance Comparison
In the year-to-date period, SCYB achieves a 10.64% return, which is significantly higher than SCMB's 2.61% 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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SCYB vs. SCMB - Expense Ratio Comparison
Both SCYB and SCMB have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
SCYB vs. SCMB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab High Yield Bond ETF (SCYB) and Schwab Municipal Bond ETF (SCMB). 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
SCYB vs. SCMB - Dividend Comparison
SCYB's dividend yield for the trailing twelve months is around 10.18%, more than SCMB's 4.44% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
SCYB Schwab High Yield Bond ETF | 10.18% | 3.94% | 0.00% |
SCMB Schwab Municipal Bond ETF | 4.44% | 4.88% | 0.80% |
Drawdowns
SCYB vs. SCMB - Drawdown Comparison
The maximum SCYB drawdown since its inception was -3.57%, smaller than the maximum SCMB drawdown of -5.62%. Use the drawdown chart below to compare losses from any high point for SCYB and SCMB. For additional features, visit the drawdowns tool.
Volatility
SCYB vs. SCMB - Volatility Comparison
The current volatility for Schwab High Yield Bond ETF (SCYB) is 1.21%, while Schwab Municipal Bond ETF (SCMB) has a volatility of 1.99%. This indicates that SCYB experiences smaller price fluctuations and is considered to be less risky than SCMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.