SHM vs. THYM
SHM (SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - SHM is a Municipal Bonds fund tracking the Bloomberg Municipal Managed Money Short, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. SHM is passively managed, while THYM is actively managed. At a 0.48 correlation, their price movements are largely independent. SHM charges 0.20%/yr vs 0.32%/yr for THYM.
Performance
SHM vs. THYM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SHM achieves a 0.78% return, which is significantly lower than THYM's 3.33% return.
SHM
- 1D
- 0.04%
- 1M
- 0.39%
- YTD
- 0.78%
- 6M
- 1.08%
- 1Y
- 3.47%
- 3Y*
- 2.93%
- 5Y*
- 0.91%
- 10Y*
- 1.20%
THYM
- 1D
- 0.14%
- 1M
- 1.14%
- YTD
- 3.33%
- 6M
- 3.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHM vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 0.78% | 0.49% |
THYM T. Rowe Price High Income Municipal ETF | 3.33% | 0.27% |
Correlation
The correlation between SHM and THYM is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025 | 0.48 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SHM vs. THYM — Risk / Return Rank
SHM
THYM
SHM vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) 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.
| SHM | THYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.59 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | — | — |
| Martin ratioReturn relative to average drawdown | 7.88 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SHM | THYM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.76 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 1.62 | -1.14 |
Drawdowns
SHM vs. THYM - Drawdown Comparison
The maximum SHM drawdown since its inception was -11.61%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for SHM and THYM.
Loading charts...
Drawdown Indicators
| SHM | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.61% | -2.93% | -8.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -2.03% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -6.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -11.61% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | 0.00% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -0.49% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | — | — |
Volatility
SHM vs. THYM - Volatility Comparison
Loading charts...
Volatility by Period
| SHM | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.85% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.26% | 4.35% | -3.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.07% | 4.35% | -2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.31% | 4.35% | -1.04% |
SHM vs. THYM - Expense Ratio Comparison
SHM has a 0.20% expense ratio, which is lower than THYM's 0.32% expense ratio.
Dividends
SHM vs. THYM - Dividend Comparison
SHM's dividend yield for the trailing twelve months is around 2.67%, more than THYM's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 2.67% | 2.61% | 2.06% | 1.15% | 0.69% | 0.86% | 1.24% | 1.40% | 1.23% | 1.06% | 0.94% | 0.92% |
THYM T. Rowe Price High Income Municipal ETF | 2.18% | 0.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SHM and THYM have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHM is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHM is cheaper with a 0.20% expense ratio, compared with 0.32% for THYM.
SHM has the higher dividend yield at 2.67%, compared with 2.18% for THYM.
SHM is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: State Street and T. Rowe Price. Their fees differ too: 0.20% for SHM and 0.32% for THYM.
Find the right allocation for SHM and THYM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer