SHYD vs. FLMI
Compare and contrast key facts about VanEck Short High Yield Muni ETF (SHYD) and Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI).
SHYD and FLMI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Municipal High Yield Short Duration. It was launched on Jan 13, 2014. FLMI is an actively managed fund by Franklin Templeton. It was launched on Aug 31, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SHYD or FLMI.
Key characteristics
| SHYD | FLMI | |
|---|---|---|
| YTD Return | 5.07% | 4.92% |
| 1Y Return | 9.42% | 10.90% |
| 3Y Return (Ann) | -0.45% | 0.72% |
| 5Y Return (Ann) | 0.85% | 2.33% |
| Sharpe Ratio | 2.26 | 2.51 |
| Sortino Ratio | 3.43 | 3.80 |
| Omega Ratio | 1.42 | 1.54 |
| Calmar Ratio | 0.87 | 1.27 |
| Martin Ratio | 18.58 | 18.94 |
| Ulcer Index | 0.52% | 0.58% |
| Daily Std Dev | 4.29% | 4.39% |
| Max Drawdown | -31.22% | -14.66% |
| Current Drawdown | -2.81% | -1.23% |
Correlation
The correlation between SHYD and FLMI is 0.41, 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
SHYD vs. FLMI - Performance Comparison
The year-to-date returns for both stocks are quite close, with SHYD having a 5.07% return and FLMI slightly lower at 4.92%. 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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SHYD vs. FLMI - Expense Ratio Comparison
SHYD has a 0.35% expense ratio, which is higher than FLMI's 0.30% expense ratio.
Risk-Adjusted Performance
SHYD vs. FLMI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short High Yield Muni ETF (SHYD) and Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI). 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
SHYD vs. FLMI - Dividend Comparison
SHYD's dividend yield for the trailing twelve months is around 3.09%, less than FLMI's 4.05% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
SHYD VanEck Short High Yield Muni ETF | 3.09% | 2.99% | 2.67% | 2.57% | 3.06% | 3.20% | 3.19% | 3.11% | 2.97% | 3.26% | 2.91% |
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 4.05% | 3.71% | 3.09% | 2.22% | 2.09% | 2.71% | 2.41% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SHYD vs. FLMI - Drawdown Comparison
The maximum SHYD drawdown since its inception was -31.22%, which is greater than FLMI's maximum drawdown of -14.66%. Use the drawdown chart below to compare losses from any high point for SHYD and FLMI. For additional features, visit the drawdowns tool.
Volatility
SHYD vs. FLMI - Volatility Comparison
The current volatility for VanEck Short High Yield Muni ETF (SHYD) is 1.45%, while Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) has a volatility of 1.91%. This indicates that SHYD experiences smaller price fluctuations and is considered to be less risky than FLMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.