SHYM vs. VWSUX

Last updated Jun 4, 2026

SHYM (iShares Short Duration High Yield Muni Active ETF) and VWSUX (Vanguard Short-Term Tax-Exempt Fund Admiral Shares) are both funds - SHYM is a High Yield Muni fund actively managed by iShares, while VWSUX is a Municipal Bonds fund managed by Vanguard. Over the past 5 years, SHYM returned 0.99%/yr vs 2.54%/yr for VWSUX. At a 0.43 correlation, their price movements are largely independent. SHYM charges 0.35%/yr vs 0.09%/yr for VWSUX.

Performance

SHYM vs. VWSUX - 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 Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHYM achieves a 1.93% return, which is significantly higher than VWSUX's 1.14% return.

SHYM

• 1D: 0.00%
• 1M: 0.89%
• YTD: 1.93%
• 6M: 2.33%
• 1Y: 5.18%
• 3Y*: 6.00%
• 5Y*: 0.99%
• 10Y*: —

VWSUX

• 1D: 0.00%
• 1M: 0.25%
• YTD: 1.14%
• 6M: 1.47%
• 1Y: 3.76%
• 3Y*: 4.14%
• 5Y*: 2.54%
• 10Y*: 2.01%

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

SHYM vs. VWSUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SHYM iShares Short Duration High Yield Muni Active ETF	1.93%	2.58%	6.99%	9.67%	-15.96%	6.71%
VWSUX Vanguard Short-Term Tax-Exempt Fund Admiral Shares	1.14%	4.90%	3.77%	3.70%	-0.73%	0.30%

Correlation

The correlation between SHYM and VWSUX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Mar 19, 2021	0.43

The correlation between SHYM and VWSUX shifts across timeframes, from 0.27 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SHYM vs. VWSUX — Risk / Return Rank

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

SHYM

SHYM Risk / Return Rank: 51
SHYM Sharpe Ratio Rank: 50
SHYM Sortino Ratio Rank: 52
SHYM Omega Ratio Rank: 57
SHYM Calmar Ratio Rank: 47
SHYM Martin Ratio Rank: 48

VWSUX

VWSUX Risk / Return Rank: 97
VWSUX Sharpe Ratio Rank: 95
VWSUX Sortino Ratio Rank: 99
VWSUX Omega Ratio Rank: 99
VWSUX Calmar Ratio Rank: 94
VWSUX Martin Ratio Rank: 96

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. VWSUX - 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 Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX). 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	VWSUX	Difference
Sharpe ratio Return per unit of total volatility	1.74	3.40	-1.66
Sortino ratio Return per unit of downside risk	2.54	8.59	-6.05
Omega ratio Gain probability vs. loss probability	1.35	2.68	-1.33
Calmar ratio Return relative to maximum drawdown	2.33	5.47	-3.14
Martin ratio Return relative to average drawdown	7.86	24.46	-16.60
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. VWSUX - Sharpe Ratio Comparison

The current SHYM Sharpe Ratio is 1.74, which is lower than the VWSUX Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of SHYM and VWSUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SHYM	VWSUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	3.40	-1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	2.09	-1.95
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	2.05	-1.78

Drawdowns

SHYM vs. VWSUX - Drawdown Comparison

The maximum SHYM drawdown since its inception was -22.55%, which is greater than VWSUX's maximum drawdown of -3.08%. Use the drawdown chart below to compare losses from any high point for SHYM and VWSUX.

Drawdown Indicators

	SHYM	VWSUX	Difference
Max Drawdown Largest peak-to-trough decline	-22.55%	-3.08%	-19.47%
Max Drawdown (1Y) Largest decline over 1 year	-2.23%	-0.69%	-1.54%
Max Drawdown (3Y) Largest decline over 3 years	-8.06%	-1.01%	-7.05%
Max Drawdown (5Y) Largest decline over 5 years	-22.55%	-2.23%	-20.32%
Max Drawdown (10Y) Largest decline over 10 years	—	-3.08%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.76%	-0.15%	-6.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.15%	+0.51%

Volatility

SHYM vs. VWSUX - Volatility Comparison

iShares Short Duration High Yield Muni Active ETF (SHYM) has a higher volatility of 0.77% compared to Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX) at 0.38%. This indicates that SHYM's price experiences larger fluctuations and is considered to be riskier than VWSUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYM	VWSUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.77%	0.38%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	1.81%	0.83%	+0.98%
Volatility (1Y) Calculated over the trailing 1-year period	2.99%	1.11%	+1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.07%	1.23%	+5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.95%	1.12%	+5.83%

SHYM vs. VWSUX - Expense Ratio Comparison

SHYM has a 0.35% expense ratio, which is higher than VWSUX's 0.09% expense ratio.

Dividends

SHYM vs. VWSUX - Dividend Comparison

SHYM's dividend yield for the trailing twelve months is around 4.30%, more than VWSUX's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHYM iShares Short Duration High Yield Muni Active ETF	4.30%	4.55%	4.35%	4.35%	4.01%	2.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VWSUX Vanguard Short-Term Tax-Exempt Fund Admiral Shares	3.12%	4.00%	3.82%	2.27%	1.24%	0.63%	1.26%	1.79%	1.53%	1.16%	0.97%	0.78%

Frequently Asked Questions

Can I hold both SHYM and VWSUX in my portfolio?

SHYM and VWSUX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHYM or VWSUX?

SHYM has higher volatility (0.77%) compared to VWSUX (0.38%). In terms of maximum drawdown, SHYM dropped -22.55% vs VWSUX's -3.08%.

Which has better risk-adjusted returns?

VWSUX currently has the higher Sharpe Ratio (3.40 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.