STAX vs. HYMB
STAX (Macquarie Tax-Free USA Short Term ETF) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both Municipal Bonds funds. STAX is actively managed, while HYMB is passively managed. Over the past year, STAX returned 3.87% vs 7.43% for HYMB. A 0.65 correlation means they provide meaningful diversification when combined. STAX charges 0.29%/yr vs 0.35%/yr for HYMB.
Performance
STAX vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, STAX achieves a 0.93% return, which is significantly lower than HYMB's 2.87% return.
STAX
- 1D
- -0.08%
- 1M
- 0.13%
- YTD
- 0.93%
- 6M
- 1.25%
- 1Y
- 3.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYMB
- 1D
- -0.04%
- 1M
- 1.19%
- YTD
- 2.87%
- 6M
- 3.18%
- 1Y
- 7.43%
- 3Y*
- 5.09%
- 5Y*
- 0.42%
- 10Y*
- 2.46%
STAX vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
STAX Macquarie Tax-Free USA Short Term ETF | 0.93% | 4.12% | 2.55% | 1.45% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 2.87% | 2.04% | 5.52% | 3.06% |
Correlation
The correlation between STAX and HYMB is 0.55, 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 | 0.55 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023 | 0.65 |
The correlation between STAX and HYMB shifts across timeframes, from 0.55 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
STAX vs. HYMB — Risk / Return Rank
STAX
HYMB
STAX vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Macquarie Tax-Free USA Short Term ETF (STAX) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB). 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.
| STAX | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.02 | ||
| Sortino ratioReturn per unit of downside risk | +3.52 | ||
| Omega ratioGain probability vs. loss probability | 1.99 | 1.37 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 2.40 | +1.29 |
| Martin ratioReturn relative to average drawdown | 11.77 | 8.51 | +3.26 |
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
| STAX | HYMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.86 | 1.84 | +2.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.06 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.64 | 0.45 | +2.19 |
Drawdowns
STAX vs. HYMB - Drawdown Comparison
The maximum STAX drawdown since its inception was -1.42%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for STAX and HYMB.
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Drawdown Indicators
| STAX | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.42% | -29.57% | +28.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.05% | -3.11% | +2.06% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.44% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | -0.43% | -0.04% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -0.23% | -3.81% | +3.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 0.88% | -0.55% |
Volatility
STAX vs. HYMB - Volatility Comparison
The current volatility for Macquarie Tax-Free USA Short Term ETF (STAX) is 0.35%, while SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a volatility of 1.35%. This indicates that STAX experiences smaller price fluctuations and is considered to be less risky than HYMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STAX | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 1.35% | -1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 0.79% | 3.14% | -2.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.01% | 4.05% | -3.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.38% | 6.66% | -5.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.38% | 11.36% | -9.98% |
STAX vs. HYMB - Expense Ratio Comparison
STAX has a 0.29% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Dividends
STAX vs. HYMB - Dividend Comparison
STAX's dividend yield for the trailing twelve months is around 3.22%, less than HYMB's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.54% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
STAX Macquarie Tax-Free USA Short Term ETF | 3.22% | 3.16% | 3.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
STAX and HYMB have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYMB has higher volatility (1.35%) compared to STAX (0.35%). In terms of maximum drawdown, STAX dropped -1.42% vs HYMB's -29.57%.
On 1-year performance, HYMB leads with 7.43% vs 3.87% for STAX. On fees, STAX is cheaper at 0.29% per year. On volatility, STAX has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYMB has performed better with a 7.43% return vs 3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STAX is cheaper with a 0.29% expense ratio, compared with 0.35% for HYMB.
HYMB has the higher dividend yield at 4.54%, compared with 3.22% for STAX.
They also come from different issuers: Macquarie and State Street. Their fees differ too: 0.29% for STAX and 0.35% for HYMB.
STAX currently has the higher Sharpe Ratio (3.86 vs 1.84), 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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