TAFI vs. HYMB
TAFI (AB Tax-Aware Short Duration ETF) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both Municipal Bonds funds. TAFI is actively managed, while HYMB is passively managed. Over the past 3 years, TAFI returned 3.68%/yr vs 5.09%/yr for HYMB. A 0.55 correlation means they provide meaningful diversification when combined. TAFI charges 0.27%/yr vs 0.35%/yr for HYMB.
Performance
TAFI vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, TAFI achieves a 1.11% return, which is significantly lower than HYMB's 2.87% return.
TAFI
- 1D
- 0.00%
- 1M
- 0.41%
- YTD
- 1.11%
- 6M
- 1.34%
- 1Y
- 4.01%
- 3Y*
- 3.68%
- 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%
TAFI vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TAFI AB Tax-Aware Short Duration ETF | 1.11% | 4.35% | 2.48% | 4.10% | 0.54% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 2.87% | 2.04% | 5.52% | 7.73% | -0.52% |
Correlation
The correlation between TAFI and HYMB is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | 0.55 |
The correlation between TAFI and HYMB has been stable across timeframes, ranging from 0.45 to 0.55 - a consistent structural relationship.
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Return for Risk
TAFI vs. HYMB — Risk / Return Rank
TAFI
HYMB
TAFI vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Tax-Aware Short Duration ETF (TAFI) 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.
| TAFI | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.37 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.33 | 2.40 | +0.93 |
| Martin ratioReturn relative to average drawdown | 11.99 | 8.51 | +3.48 |
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
| TAFI | HYMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.76 | 1.84 | +0.92 |
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 | 1.72 | 0.45 | +1.27 |
Drawdowns
TAFI vs. HYMB - Drawdown Comparison
The maximum TAFI drawdown since its inception was -2.00%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for TAFI and HYMB.
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Drawdown Indicators
| TAFI | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.00% | -29.57% | +27.57% |
Max Drawdown (1Y)Largest decline over 1 year | -1.21% | -3.11% | +1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -1.87% | -7.44% | +5.57% |
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 | -0.21% | -0.04% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -3.81% | +3.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 0.88% | -0.54% |
Volatility
TAFI vs. HYMB - Volatility Comparison
The current volatility for AB Tax-Aware Short Duration ETF (TAFI) is 0.45%, while SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a volatility of 1.35%. This indicates that TAFI 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
| TAFI | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.45% | 1.35% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 0.94% | 3.14% | -2.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.46% | 4.05% | -2.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 6.66% | -4.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.98% | 11.36% | -9.38% |
TAFI vs. HYMB - Expense Ratio Comparison
TAFI has a 0.27% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Dividends
TAFI vs. HYMB - Dividend Comparison
TAFI's dividend yield for the trailing twelve months is around 3.15%, 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% |
TAFI AB Tax-Aware Short Duration ETF | 3.15% | 3.21% | 3.34% | 3.27% | 0.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAFI and HYMB have a correlation of 0.45, 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 TAFI (0.45%). In terms of maximum drawdown, TAFI dropped -2.00% vs HYMB's -29.57%.
On 3-year performance, HYMB leads with 5.09% vs 3.68% for TAFI. On fees, TAFI is cheaper at 0.27% per year. On volatility, TAFI has been the lower-risk option at 0.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYMB has performed better with a 5.09% return vs 3.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAFI is cheaper with a 0.27% expense ratio, compared with 0.35% for HYMB.
HYMB has the higher dividend yield at 4.54%, compared with 3.15% for TAFI.
They also come from different issuers: AllianceBernstein and State Street. Their fees differ too: 0.27% for TAFI and 0.35% for HYMB.
TAFI currently has the higher Sharpe Ratio (2.76 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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