TAFI vs. THYM

Last updated Jun 3, 2026

TAFI (AB Tax-Aware Short Duration ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - TAFI is a Municipal Bonds fund actively managed by AllianceBernstein, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. Both are actively managed. At a 0.49 correlation, their price movements are largely independent. TAFI charges 0.27%/yr vs 0.32%/yr for THYM.

Performance

TAFI vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Tax-Aware Short Duration ETF (TAFI) and T. Rowe Price High Income Municipal ETF (THYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAFI achieves a 1.11% return, which is significantly lower than THYM's 3.19% return.

TAFI

• 1D: 0.08%
• 1M: 0.35%
• YTD: 1.11%
• 6M: 1.46%
• 1Y: 4.14%
• 3Y*: 3.68%
• 5Y*: —
• 10Y*: —

THYM

• 1D: 0.13%
• 1M: 0.89%
• YTD: 3.19%
• 6M: 3.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TAFI vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
TAFI AB Tax-Aware Short Duration ETF	1.11%	0.40%
THYM T. Rowe Price High Income Municipal ETF	3.19%	0.27%

Correlation

The correlation between TAFI and THYM is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.49

Return for Risk

TAFI vs. THYM — Risk / Return Rank

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

TAFI

TAFI Risk / Return Rank: 80
TAFI Sharpe Ratio Rank: 85
TAFI Sortino Ratio Rank: 92
TAFI Omega Ratio Rank: 91
TAFI Calmar Ratio Rank: 66
TAFI Martin Ratio Rank: 65

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.

TAFI vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Tax-Aware Short Duration ETF (TAFI) 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.

	TAFI	THYM	Difference
Sharpe ratio Return per unit of total volatility	2.84	—	—
Sortino ratio Return per unit of downside risk	4.57	—	—
Omega ratio Gain probability vs. loss probability	1.60	—	—
Calmar ratio Return relative to maximum drawdown	3.32	—	—
Martin ratio Return relative to average drawdown	11.99	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TAFI	THYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.72	1.56	+0.15

Drawdowns

TAFI vs. THYM - Drawdown Comparison

The maximum TAFI drawdown since its inception was -2.00%, smaller than the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for TAFI and THYM.

Drawdown Indicators

	TAFI	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-2.00%	-2.93%	+0.93%
Max Drawdown (1Y) Largest decline over 1 year	-1.21%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.87%	—	—
Current Drawdown Current decline from peak	-0.21%	0.00%	-0.21%
Average Drawdown Average peak-to-trough decline	-0.38%	-0.49%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	—	—

Volatility

Volatility by Period

	TAFI	THYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.47%	4.36%	-2.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.98%	4.36%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.98%	4.36%	-2.38%

TAFI vs. THYM - Expense Ratio Comparison

TAFI has a 0.27% expense ratio, which is lower than THYM's 0.32% expense ratio.

Dividends

TAFI vs. THYM - Dividend Comparison

TAFI's dividend yield for the trailing twelve months is around 3.15%, more than THYM's 2.19% yield.

Position	TTM	2025	2024	2023	2022
TAFI AB Tax-Aware Short Duration ETF	3.15%	3.21%	3.34%	3.27%	0.79%
THYM T. Rowe Price High Income Municipal ETF	2.19%	0.37%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TAFI and THYM in my portfolio?

TAFI and THYM have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TAFI or THYM?

On fees, TAFI is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TAFI or THYM?

TAFI is cheaper with a 0.27% expense ratio, compared with 0.32% for THYM.

Which ETF pays a higher dividend yield, TAFI or THYM?

TAFI has the higher dividend yield at 3.15%, compared with 2.19% for THYM.

What is the main difference between TAFI and THYM?

TAFI is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: AllianceBernstein and T. Rowe Price. Their fees differ too: 0.27% for TAFI and 0.32% for THYM.