TAFM vs. THYM
TAFM (AB Tax-Aware Intermediate Municipal ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - TAFM 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. Their 0.66 correlation means they have sometimes moved together and sometimes differently. TAFM charges 0.28%/yr vs 0.32%/yr for THYM.
Performance
TAFM vs. THYM - Performance Comparison
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Returns By Period
In the year-to-date period, TAFM achieves a 1.00% return, which is significantly lower than THYM's 2.68% return.
TAFM
- 1D
- 0.16%
- 1M
- -1.45%
- 6M
- 0.06%
- YTD
- 1.00%
- 1Y
- 5.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.51%
THYM
- 1D
- 0.50%
- 1M
- -1.90%
- 6M
- 1.71%
- YTD
- 2.68%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.14M | $4.32M | $5.15M | |
| $237.80K | $163.10K | $145.76K |
TAFM vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAFM AB Tax-Aware Intermediate Municipal ETF | 1.00% | 0.22% |
THYM T. Rowe Price High Income Municipal ETF | 2.68% | 0.25% |
Correlation
The correlation between TAFM and THYM is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | 0.66 |
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Return for Risk
TAFM vs. THYM — Risk / Return Rank
TAFM
THYM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TAFM vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Tax-Aware Intermediate Municipal ETF (TAFM) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TAFM | THYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.34 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | — | — |
| Martin ratioReturn relative to average drawdown | 6.60 | — | — |
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Drawdowns
TAFM vs. THYM - Drawdown Comparison
The maximum TAFM drawdown since its inception was -4.74%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for TAFM and THYM.
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Drawdown Indicators
| TAFM | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.74% | -2.93% | -1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | — | — |
Current DrawdownCurrent decline from peak | -1.55% | -1.90% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -0.93% | -0.57% | -0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | — | — |
Volatility
TAFM vs. THYM - Volatility Comparison
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Volatility by Period
| TAFM | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.20% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.05% | 4.43% | -1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.83% | 4.43% | +0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 4.43% | +0.40% |
TAFM vs. THYM - Expense Ratio Comparison
TAFM has a 0.28% expense ratio, which is lower than THYM's 0.32% expense ratio.
Dividends
TAFM vs. THYM - Dividend Comparison
TAFM's dividend yield for the trailing twelve months is around 3.69%, more than THYM's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
TAFM AB Tax-Aware Intermediate Municipal ETF | 3.69% | 3.51% | 3.35% | 0.18% |
THYM T. Rowe Price High Income Municipal ETF | 2.98% | 0.37% | 0.00% | 0.00% |
Frequently Asked Questions
TAFM and THYM have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAFM is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAFM is cheaper with a 0.28% expense ratio, compared with 0.32% for THYM.
TAFM has the higher dividend yield at 3.69%, compared with 2.98% for THYM.
TAFM 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: 0.28% for TAFM and 0.32% for THYM.
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