SHYM vs. HYMU

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Short Duration High Yield Muni Active ETF (SHYM) and BlackRock High Yield Muni Income Bond ETF (HYMU).

SHYM and HYMU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHYM is an actively managed fund by iShares. It was launched on Mar 16, 2021. HYMU is an actively managed fund by BlackRock. It was launched on Mar 16, 2021.

Performance

SHYM vs. HYMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Short Duration High Yield Muni Active ETF (SHYM) and BlackRock High Yield Muni Income Bond ETF (HYMU). The values are adjusted to include any dividend payments, if applicable.

SHYM vs. HYMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SHYM iShares Short Duration High Yield Muni Active ETF	0.29%	2.58%	6.99%	9.67%	-15.96%	6.71%
HYMU BlackRock High Yield Muni Income Bond ETF	0.29%	2.58%	6.99%	9.67%	-15.96%	6.71%

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with SHYM at 0.29% and HYMU at 0.29%.

SHYM

• 1D: 0.50%
• 1M: -1.14%
• YTD: 0.29%
• 6M: 1.40%
• 1Y: 1.57%
• 3Y*: 5.45%
• 5Y*: 1.45%
• 10Y*: —

HYMU

• 1D: 0.50%
• 1M: -1.14%
• YTD: 0.29%
• 6M: 1.40%
• 1Y: 1.57%
• 3Y*: 5.45%
• 5Y*: 1.45%
• 10Y*: —

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

SHYM vs. HYMU - Expense Ratio Comparison

Both SHYM and HYMU have an expense ratio of 0.35%.

SHYM

iShares Short Duration High Yield Muni Active ETF

HYMU

BlackRock High Yield Muni Income Bond ETF

Return for Risk

SHYM vs. HYMU — Risk / Return Rank

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

SHYM

SHYM Risk / Return Rank: 18
SHYM Sharpe Ratio Rank: 16
SHYM Sortino Ratio Rank: 14
SHYM Omega Ratio Rank: 18
SHYM Calmar Ratio Rank: 18
SHYM Martin Ratio Rank: 22

HYMU

HYMU Risk / Return Rank: 18
HYMU Sharpe Ratio Rank: 16
HYMU Sortino Ratio Rank: 14
HYMU Omega Ratio Rank: 18
HYMU Calmar Ratio Rank: 18
HYMU Martin Ratio Rank: 22

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.

SHYM vs. HYMU - 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 BlackRock High Yield Muni Income Bond ETF (HYMU). 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.

	SHYM	HYMU	Difference
Sharpe ratio Return per unit of total volatility	0.20	0.20	0.00
Sortino ratio Return per unit of downside risk	0.30	0.30	0.00
Omega ratio Gain probability vs. loss probability	1.07	1.07	0.00
Calmar ratio Return relative to maximum drawdown	0.31	0.31	0.00
Martin ratio Return relative to average drawdown	1.53	1.53	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHYM vs. HYMU - Sharpe Ratio Comparison

The current SHYM Sharpe Ratio is 0.20, which is comparable to the HYMU Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of SHYM and HYMU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHYM	HYMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	0.20	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.21	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.23	0.00

Correlation

The correlation between SHYM and HYMU is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SHYM vs. HYMU - Dividend Comparison

SHYM's dividend yield for the trailing twelve months is around 4.51%, which matches HYMU's 4.51% yield.

	TTM	2025	2024	2023	2022	2021
SHYM iShares Short Duration High Yield Muni Active ETF	4.51%	4.55%	4.35%	4.35%	4.01%	2.97%
HYMU BlackRock High Yield Muni Income Bond ETF	4.51%	4.55%	4.35%	4.35%	4.01%	2.97%

Drawdowns

SHYM vs. HYMU - Drawdown Comparison

The maximum SHYM drawdown since its inception was -22.55%, roughly equal to the maximum HYMU drawdown of -22.55%. Use the drawdown chart below to compare losses from any high point for SHYM and HYMU.

Drawdown Indicators

	SHYM	HYMU	Difference
Max Drawdown Largest peak-to-trough decline	-22.55%	-22.55%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-6.54%	-6.54%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-22.55%	-22.55%	0.00%
Current Drawdown Current decline from peak	-1.39%	-1.39%	0.00%
Average Drawdown Average peak-to-trough decline	-6.97%	-6.97%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	1.37%	0.00%

Volatility

SHYM vs. HYMU - Volatility Comparison

iShares Short Duration High Yield Muni Active ETF (SHYM) and BlackRock High Yield Muni Income Bond ETF (HYMU) have volatilities of 1.29% and 1.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYM	HYMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	1.29%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	1.81%	1.81%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	7.95%	7.95%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.08%	7.08%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.05%	7.05%	0.00%