TFI vs. HYMU

Last updated Jun 4, 2026

TFI (SPDR Nuveen Bloomberg Barclays Municipal Bond ETF) and HYMU (BlackRock High Yield Muni Income Bond ETF) are both exchange-traded funds - TFI is a Municipal Bonds fund tracking the Bloomberg US Municipal Managed Money (1-25 Y), while HYMU is a High Yield Muni fund actively managed by BlackRock. TFI is passively managed, while HYMU is actively managed. TFI charges 0.23%/yr vs 0.35%/yr for HYMU.

Performance

TFI vs. HYMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and BlackRock High Yield Muni Income Bond ETF (HYMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TFI

• 1D: -0.02%
• 1M: 0.63%
• YTD: 1.19%
• 6M: 1.64%
• 1Y: 6.67%
• 3Y*: 2.99%
• 5Y*: -0.07%
• 10Y*: 1.51%

HYMU

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TFI vs. HYMU - Yearly Performance Comparison

	2026 (YTD)
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF	0.40%
HYMU BlackRock High Yield Muni Income Bond ETF	0.00%

Return for Risk

TFI vs. HYMU — Risk / Return Rank

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

TFI

TFI Risk / Return Rank: 65
TFI Sharpe Ratio Rank: 72
TFI Sortino Ratio Rank: 76
TFI Omega Ratio Rank: 83
TFI Calmar Ratio Rank: 48
TFI Martin Ratio Rank: 48

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.

TFI vs. HYMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) and BlackRock High Yield Muni Income Bond ETF (HYMU). 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.

	TFI	HYMU	Difference
Sharpe ratio: Return per unit of total volatility	2.38	—	—
Sortino ratio: Return per unit of downside risk	3.45	—	—
Omega ratio: Gain probability vs. loss probability	1.50	—	—
Calmar ratio: Return relative to maximum drawdown	2.40	—	—
Martin ratio: Return relative to average drawdown	7.91	—	—
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

	TFI	HYMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	—	—

Drawdowns

TFI vs. HYMU - Drawdown Comparison

The maximum TFI drawdown since its inception was -15.49%, which is greater than HYMU's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for TFI and HYMU.

Drawdown Indicators

	TFI	HYMU	Difference
Max Drawdown Largest peak-to-trough decline	-15.49%	0.00%	-15.49%
Max Drawdown (1Y) Largest decline over 1 year	-2.79%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.49%	—	—
Current Drawdown Current decline from peak	-1.21%	0.00%	-1.21%
Average Drawdown Average peak-to-trough decline	-2.97%	0.00%	-2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	—	—

Volatility

Volatility by Period

	TFI	HYMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.82%	0.00%	+2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.31%	0.00%	+4.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.00%	0.00%	+5.00%

TFI vs. HYMU - Expense Ratio Comparison

TFI has a 0.23% expense ratio, which is lower than HYMU's 0.35% expense ratio.

Dividends

TFI vs. HYMU - Dividend Comparison

TFI's dividend yield for the trailing twelve months is around 3.48%, while HYMU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYMU BlackRock High Yield Muni Income Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF	3.48%	3.32%	3.01%	2.41%	1.87%	1.71%	1.91%	2.14%	2.26%	2.16%	2.39%	2.40%

Frequently Asked Questions

Which ETF is better, TFI or HYMU?

On fees, TFI is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TFI or HYMU?

TFI is cheaper with a 0.23% expense ratio, compared with 0.35% for HYMU.

Which ETF pays a higher dividend yield, TFI or HYMU?

TFI has the higher dividend yield at 3.48%, compared with 0.00% for HYMU.

What is the main difference between TFI and HYMU?

TFI is categorized as Municipal Bonds, while HYMU is High Yield Muni. They also come from different issuers: State Street and BlackRock. Their fees differ too: 0.23% for TFI and 0.35% for HYMU.