SHYM vs. COMB
SHYM (iShares Short Duration High Yield Muni Active ETF) and COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) are both exchange-traded funds - SHYM is a High Yield Muni fund actively managed by iShares, while COMB is a Commodities fund actively managed by GraniteShares. Both are actively managed. Over the past 5 years, SHYM returned 0.74%/yr vs 9.83%/yr for COMB. At a correlation of -0.02, they often move in opposite directions. SHYM charges 0.35%/yr vs 0.25%/yr for COMB.
Performance
SHYM vs. COMB - Performance Comparison
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Returns By Period
In the year-to-date period, SHYM achieves a 2.65% return, which is significantly lower than COMB's 17.53% return.
SHYM
- 1D
- 0.09%
- 1M
- 0.56%
- 6M
- 2.19%
- YTD
- 2.65%
- 1Y
- 5.27%
- 3Y*
- 5.80%
- 5Y*
- 0.74%
- 10Y*
- —
COMB
- 1D
- 0.00%
- 1M
- -1.59%
- 6M
- 14.82%
- YTD
- 17.53%
- 1Y
- 25.91%
- 3Y*
- 11.95%
- 5Y*
- 9.83%
- 10Y*
- —
SHYM vs. COMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 2.65% | 2.58% | 6.99% | 9.67% | -15.96% | 6.71% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 17.53% | 15.12% | 5.24% | -7.75% | 14.56% | 15.25% |
Correlation
The correlation between SHYM and COMB is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2021 | -0.02 |
Over the past year, the inverse relationship between SHYM and COMB has strengthened: their correlation has moved from -0.02 to -0.22, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
SHYM vs. COMB — Risk / Return Rank
SHYM
COMB
SHYM vs. COMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration High Yield Muni Active ETF (SHYM) and GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHYM | COMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.28 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.82 | +0.24 |
| Martin ratioReturn relative to average drawdown | 8.16 | 6.14 | +2.02 |
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Drawdowns
SHYM vs. COMB - Drawdown Comparison
The maximum SHYM drawdown since its inception was -22.55%, smaller than the maximum COMB drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for SHYM and COMB.
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Drawdown Indicators
| SHYM | COMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.55% | -33.50% | +10.95% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -14.84% | +12.61% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | -14.84% | +6.78% |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | -26.63% | +4.08% |
Current DrawdownCurrent decline from peak | -0.27% | -11.35% | +11.08% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -12.05% | +5.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 4.40% | -3.74% |
Volatility
SHYM vs. COMB - Volatility Comparison
The current volatility for iShares Short Duration High Yield Muni Active ETF (SHYM) is 0.49%, while GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) has a volatility of 4.24%. This indicates that SHYM experiences smaller price fluctuations and is considered to be less risky than COMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYM | COMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 4.24% | -3.75% |
Volatility (6M)Calculated over the trailing 6-month period | 1.82% | 15.09% | -13.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 17.38% | -14.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.06% | 16.69% | -9.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.88% | 15.15% | -8.27% |
SHYM vs. COMB - Expense Ratio Comparison
SHYM has a 0.35% expense ratio, which is higher than COMB's 0.25% expense ratio.
Dividends
SHYM vs. COMB - Dividend Comparison
SHYM's dividend yield for the trailing twelve months is around 4.28%, less than COMB's 7.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.70% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% |
SHYM iShares Short Duration High Yield Muni Active ETF | 4.28% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SHYM and COMB have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMB has higher volatility (4.24%) compared to SHYM (0.49%). In terms of maximum drawdown, SHYM dropped -22.55% vs COMB's -33.50%.
On 5-year performance, COMB leads with 9.83% vs 0.74% for SHYM. On fees, COMB is cheaper at 0.25% per year. On volatility, SHYM has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, COMB has performed better with a 9.83% return vs 0.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMB is cheaper with a 0.25% expense ratio, compared with 0.35% for SHYM.
COMB has the higher dividend yield at 7.70%, compared with 4.28% for SHYM.
SHYM is categorized as High Yield Muni, while COMB is Commodities. They also come from different issuers: iShares and GraniteShares. Their fees differ too: 0.35% for SHYM and 0.25% for COMB.
SHYM currently has the higher Sharpe Ratio (1.63 vs 1.56), 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.
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