SHYM vs. SCMB
SHYM (iShares Short Duration High Yield Muni Active ETF) and SCMB (Schwab Municipal Bond ETF) are both exchange-traded funds - SHYM is a High Yield Muni fund actively managed by iShares, while SCMB is a Municipal Bonds fund tracking the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. SHYM is actively managed, while SCMB is passively managed. Over the past 3 years, SHYM returned 6.00%/yr vs 3.37%/yr for SCMB. A 0.66 correlation means they provide meaningful diversification when combined. SHYM charges 0.35%/yr vs 0.03%/yr for SCMB.
Performance
SHYM vs. SCMB - Performance Comparison
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Returns By Period
In the year-to-date period, SHYM achieves a 1.93% return, which is significantly higher than SCMB's 1.07% return.
SHYM
- 1D
- 0.00%
- 1M
- 0.89%
- YTD
- 1.93%
- 6M
- 2.33%
- 1Y
- 5.18%
- 3Y*
- 6.00%
- 5Y*
- 0.99%
- 10Y*
- —
SCMB
- 1D
- -0.12%
- 1M
- 0.60%
- YTD
- 1.07%
- 6M
- 1.55%
- 1Y
- 6.86%
- 3Y*
- 3.37%
- 5Y*
- —
- 10Y*
- —
SHYM vs. SCMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 1.93% | 2.58% | 6.99% | 9.67% | 2.78% |
SCMB Schwab Municipal Bond ETF | 1.07% | 3.78% | 0.91% | 5.86% | 3.05% |
Correlation
The correlation between SHYM and SCMB is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2022 | 0.66 |
The correlation between SHYM and SCMB shifts across timeframes, from 0.53 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SHYM vs. SCMB — Risk / Return Rank
SHYM
SCMB
SHYM vs. SCMB - 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 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.
| SHYM | SCMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.50 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.36 | -0.03 |
| Martin ratioReturn relative to average drawdown | 7.86 | 7.89 | -0.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHYM | SCMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 2.34 | -0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.97 | -0.71 |
Drawdowns
SHYM vs. SCMB - Drawdown Comparison
The maximum SHYM drawdown since its inception was -22.55%, which is greater than SCMB's maximum drawdown of -6.13%. Use the drawdown chart below to compare losses from any high point for SHYM and SCMB.
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Drawdown Indicators
| SHYM | SCMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.55% | -6.13% | -16.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -2.92% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | -5.57% | -2.49% |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.87% | +0.87% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -1.32% | -5.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.87% | -0.21% |
Volatility
SHYM vs. SCMB - Volatility Comparison
The current volatility for iShares Short Duration High Yield Muni Active ETF (SHYM) is 0.77%, while Schwab Municipal Bond ETF (SCMB) has a volatility of 1.04%. This indicates that SHYM 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.
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Volatility by Period
| SHYM | SCMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 1.04% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | 2.17% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 2.94% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.07% | 4.16% | +2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.95% | 4.16% | +2.79% |
SHYM vs. SCMB - Expense Ratio Comparison
SHYM has a 0.35% expense ratio, which is higher than SCMB's 0.03% expense ratio.
Dividends
SHYM vs. SCMB - Dividend Comparison
SHYM's dividend yield for the trailing twelve months is around 4.30%, more than SCMB's 3.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SCMB Schwab Municipal Bond ETF | 3.54% | 3.36% | 3.34% | 3.10% | 0.59% | 0.00% |
SHYM iShares Short Duration High Yield Muni Active ETF | 4.30% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% |
Frequently Asked Questions
SHYM and SCMB have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCMB has higher volatility (1.04%) compared to SHYM (0.77%). In terms of maximum drawdown, SHYM dropped -22.55% vs SCMB's -6.13%.
On 3-year performance, SHYM leads with 6.00% vs 3.37% for SCMB. On fees, SCMB is cheaper at 0.03% per year. On volatility, SHYM has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SHYM has performed better with a 6.00% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCMB is cheaper with a 0.03% expense ratio, compared with 0.35% for SHYM.
SHYM has the higher dividend yield at 4.30%, compared with 3.54% for SCMB.
SHYM is categorized as High Yield Muni, while SCMB is Municipal Bonds. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.35% for SHYM and 0.03% for SCMB.
SCMB currently has the higher Sharpe Ratio (2.34 vs 1.74), 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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