TAXM vs. HYMB
TAXM (BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both Municipal Bonds funds. TAXM is actively managed, while HYMB is passively managed. Over the past year, TAXM returned 6.62% vs 7.43% for HYMB. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.
Performance
TAXM vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, TAXM achieves a 1.18% return, which is significantly lower than HYMB's 2.87% return.
TAXM
- 1D
- -0.06%
- 1M
- 0.51%
- YTD
- 1.18%
- 6M
- 1.54%
- 1Y
- 6.62%
- 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%
TAXM vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | 1.18% | 3.71% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 2.87% | 1.66% |
Correlation
The correlation between TAXM and HYMB is 0.74, 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 | 0.74 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2025 | 0.76 |
The correlation between TAXM and HYMB has been stable across timeframes, ranging from 0.74 to 0.76 - a consistent structural relationship.
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Return for Risk
TAXM vs. HYMB — Risk / Return Rank
TAXM
HYMB
TAXM vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) 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.
| TAXM | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.37 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.40 | +0.06 |
| Martin ratioReturn relative to average drawdown | 8.62 | 8.51 | +0.11 |
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
| TAXM | HYMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 1.84 | +0.65 |
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 | 1.14 | 0.45 | +0.69 |
Drawdowns
TAXM vs. HYMB - Drawdown Comparison
The maximum TAXM drawdown since its inception was -3.10%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for TAXM and HYMB.
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Drawdown Indicators
| TAXM | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.10% | -29.57% | +26.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -3.11% | +0.41% |
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 | -0.80% | -0.04% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -3.81% | +3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.88% | -0.11% |
Volatility
TAXM vs. HYMB - Volatility Comparison
The current volatility for BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) is 0.94%, while SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB) has a volatility of 1.35%. This indicates that TAXM 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
| TAXM | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 1.35% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.04% | 3.14% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.67% | 4.05% | -1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.56% | 6.66% | -3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.56% | 11.36% | -7.80% |
TAXM vs. HYMB - Expense Ratio Comparison
Both TAXM and HYMB have an expense ratio of 0.35%.
Dividends
TAXM vs. HYMB - Dividend Comparison
TAXM's dividend yield for the trailing twelve months is around 3.29%, 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% |
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | 3.29% | 2.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAXM and HYMB have a correlation of 0.74, 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 TAXM (0.94%). In terms of maximum drawdown, TAXM dropped -3.10% vs HYMB's -29.57%.
On 1-year performance, HYMB leads with 7.43% vs 6.62% for TAXM. Both ETFs have the same 0.35% expense ratio. On volatility, TAXM has been the lower-risk option at 0.94%. 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 6.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAXM and HYMB have the same expense ratio: 0.35% per year.
HYMB has the higher dividend yield at 4.54%, compared with 3.29% for TAXM.
They also come from different issuers: BondBloxx and State Street.
TAXM currently has the higher Sharpe Ratio (2.49 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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