TFI vs. THYM
TFI (SPDR Nuveen Bloomberg Barclays Municipal Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - TFI is a Municipal Bonds fund tracking the Bloomberg US Municipal Managed Money (1-25 Y), while THYM is a High Yield Muni fund actively managed by T. Rowe Price. TFI is passively managed, while THYM is actively managed. A 0.66 correlation means they provide meaningful diversification when combined. TFI charges 0.23%/yr vs 0.32%/yr for THYM.
Performance
TFI vs. THYM - Performance Comparison
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Returns By Period
In the year-to-date period, TFI achieves a 1.19% return, which is significantly lower than THYM's 3.33% return.
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%
THYM
- 1D
- 0.14%
- 1M
- 1.14%
- YTD
- 3.33%
- 6M
- 3.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TFI vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TFI SPDR Nuveen Bloomberg Barclays Municipal Bond ETF | 1.19% | 0.46% |
THYM T. Rowe Price High Income Municipal ETF | 3.33% | 0.27% |
Correlation
The correlation between TFI and THYM is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025 | 0.66 |
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Return for Risk
TFI vs. THYM — Risk / Return Rank
TFI
THYM
TFI vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Municipal Bond ETF (TFI) 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.
| TFI | THYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.50 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | — | — |
| Martin ratioReturn 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. | |||
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Sharpe Ratios by Period
| TFI | THYM | 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 | 1.62 | -1.11 |
Drawdowns
TFI vs. THYM - Drawdown Comparison
The maximum TFI drawdown since its inception was -15.49%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for TFI and THYM.
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Drawdown Indicators
| TFI | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.49% | -2.93% | -12.56% |
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 DrawdownCurrent decline from peak | -1.21% | 0.00% | -1.21% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -0.49% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | — | — |
Volatility
TFI vs. THYM - Volatility Comparison
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Volatility by Period
| TFI | THYM | 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% | 4.35% | -1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 4.35% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 4.35% | +0.65% |
TFI vs. THYM - Expense Ratio Comparison
TFI has a 0.23% expense ratio, which is lower than THYM's 0.32% expense ratio.
Dividends
TFI vs. THYM - Dividend Comparison
TFI's dividend yield for the trailing twelve months is around 3.48%, more than THYM's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
THYM T. Rowe Price High Income Municipal ETF | 2.18% | 0.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TFI 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, TFI is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TFI is cheaper with a 0.23% expense ratio, compared with 0.32% for THYM.
TFI has the higher dividend yield at 3.48%, compared with 2.18% for THYM.
TFI is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: State Street and T. Rowe Price. Their fees differ too: 0.23% for TFI and 0.32% for THYM.
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