TAXE vs. THYM
TAXE (T. Rowe Price Intermediate Municipal Income ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - TAXE is a Municipal Bonds fund actively managed by T. Rowe Price, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. Both are actively managed. Their 0.72 correlation means they have sometimes moved together and sometimes differently. TAXE charges 0.24%/yr vs 0.32%/yr for THYM.
Performance
TAXE vs. THYM - Performance Comparison
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Returns By Period
In the year-to-date period, TAXE achieves a 0.80% return, which is significantly lower than THYM's 2.17% return.
TAXE
- 1D
- 0.16%
- 1M
- -1.52%
- 6M
- -0.23%
- YTD
- 0.80%
- 1Y
- 4.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.93%
THYM
- 1D
- -0.08%
- 1M
- -2.39%
- 6M
- 0.97%
- YTD
- 2.17%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.64M | $1.93M | $1.30M | |
| $185.26K | $140.26K | $136.22K |
TAXE vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXE T. Rowe Price Intermediate Municipal Income ETF | 0.80% | 0.47% |
THYM T. Rowe Price High Income Municipal ETF | 2.17% | 0.25% |
Correlation
The correlation between TAXE and THYM is 0.72, 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 | 0.72 |
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Return for Risk
TAXE vs. THYM — Risk / Return Rank
TAXE
THYM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TAXE vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Intermediate Municipal Income ETF (TAXE) 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.
| TAXE | THYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.44 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | — | — |
| Martin ratioReturn relative to average drawdown | 5.83 | — | — |
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Drawdowns
TAXE vs. THYM - Drawdown Comparison
The maximum TAXE drawdown since its inception was -3.72%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for TAXE and THYM.
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Drawdown Indicators
| TAXE | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -2.93% | -0.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | — | — |
Current DrawdownCurrent decline from peak | -1.54% | -2.39% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -0.56% | -0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | — | — |
Volatility
TAXE vs. THYM - Volatility Comparison
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Volatility by Period
| TAXE | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.87% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.29% | 4.40% | -2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.11% | 4.40% | -1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.11% | 4.40% | -1.29% |
TAXE vs. THYM - Expense Ratio Comparison
TAXE has a 0.24% expense ratio, which is lower than THYM's 0.32% expense ratio.
Dividends
TAXE vs. THYM - Dividend Comparison
TAXE's dividend yield for the trailing twelve months is around 3.62%, more than THYM's 2.99% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
TAXE T. Rowe Price Intermediate Municipal Income ETF | 3.62% | 3.46% | 1.74% |
THYM T. Rowe Price High Income Municipal ETF | 2.99% | 0.37% | 0.00% |
Frequently Asked Questions
TAXE and THYM have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXE is cheaper with a 0.24% expense ratio, compared with 0.32% for THYM.
TAXE has the higher dividend yield at 3.62%, compared with 2.99% for THYM.
TAXE is categorized as Municipal Bonds, while THYM is High Yield Muni. Their fees differ too: 0.24% for TAXE and 0.32% for THYM.
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