SMMU vs. THYM
SMMU (PIMCO Short Term Municipal Bond Active ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - SMMU is a Municipal Bonds fund actively managed by PIMCO, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. Both are actively managed. A 0.54 correlation means they provide meaningful diversification when combined. SMMU charges 0.35%/yr vs 0.32%/yr for THYM.
Performance
SMMU vs. THYM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SMMU achieves a 1.12% return, which is significantly lower than THYM's 3.70% return.
SMMU
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 1.12%
- 6M
- 1.32%
- 1Y
- 3.86%
- 3Y*
- 3.66%
- 5Y*
- 1.90%
- 10Y*
- 1.86%
THYM
- 1D
- 0.36%
- 1M
- 1.53%
- YTD
- 3.70%
- 6M
- 4.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMMU vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMMU PIMCO Short Term Municipal Bond Active ETF | 1.12% | 0.34% |
THYM T. Rowe Price High Income Municipal ETF | 3.70% | 0.27% |
Correlation
The correlation between SMMU and THYM is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025 | 0.54 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SMMU vs. THYM — Risk / Return Rank
SMMU
THYM
SMMU vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Short Term Municipal Bond Active ETF (SMMU) and T. Rowe Price High Income Municipal ETF (THYM). 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.
| SMMU | THYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.89 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.04 | — | — |
| Martin ratioReturn relative to average drawdown | 18.00 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SMMU | THYM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.79 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 1.77 | -1.17 |
Drawdowns
SMMU vs. THYM - Drawdown Comparison
The maximum SMMU drawdown since its inception was -5.09%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for SMMU and THYM.
Loading charts...
Drawdown Indicators
| SMMU | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.09% | -2.93% | -2.16% |
Max Drawdown (1Y)Largest decline over 1 year | -0.77% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.95% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -4.76% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.09% | — | — |
Current DrawdownCurrent decline from peak | -0.01% | 0.00% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.55% | -0.49% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | — | — |
Volatility
SMMU vs. THYM - Volatility Comparison
Loading charts...
Volatility by Period
| SMMU | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.31% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.79% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.02% | 4.35% | -3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.67% | 4.35% | -2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.73% | 4.35% | -1.62% |
SMMU vs. THYM - Expense Ratio Comparison
SMMU has a 0.35% expense ratio, which is higher than THYM's 0.32% expense ratio.
Dividends
SMMU vs. THYM - Dividend Comparison
SMMU's dividend yield for the trailing twelve months is around 2.84%, more than THYM's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMMU PIMCO Short Term Municipal Bond Active ETF | 2.84% | 2.80% | 3.03% | 2.79% | 1.37% | 0.60% | 1.19% | 1.82% | 1.57% | 1.41% | 1.03% | 0.89% |
THYM T. Rowe Price High Income Municipal ETF | 2.18% | 0.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMMU and THYM have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, THYM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
THYM is cheaper with a 0.32% expense ratio, compared with 0.35% for SMMU.
SMMU has the higher dividend yield at 2.84%, compared with 2.18% for THYM.
SMMU is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: PIMCO and T. Rowe Price. Their fees differ too: 0.35% for SMMU and 0.32% for THYM.
Find the right allocation for SMMU and THYM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer