THYM vs. AMUN

Last updated Jun 5, 2026

THYM (T. Rowe Price High Income Municipal ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both exchange-traded funds - THYM is a High Yield Muni fund actively managed by T. Rowe Price, while AMUN is a Municipal Bonds fund actively managed by abrdn. Both are actively managed. At a 0.13 correlation, their price movements are largely independent. THYM charges 0.32%/yr vs 0.25%/yr for AMUN.

Performance

THYM vs. AMUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price High Income Municipal ETF (THYM) and abrdn Ultra Short Municipal Income Active ETF (AMUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THYM achieves a 3.70% return, which is significantly higher than AMUN's 1.13% return.

THYM

• 1D: 0.36%
• 1M: 1.53%
• YTD: 3.70%
• 6M: 4.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMUN

• 1D: 0.02%
• 1M: 0.32%
• YTD: 1.13%
• 6M: 1.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

THYM vs. AMUN - Yearly Performance Comparison

	2026 (YTD)	2025
THYM T. Rowe Price High Income Municipal ETF	3.70%	0.27%
AMUN abrdn Ultra Short Municipal Income Active ETF	1.13%	0.36%

Correlation

The correlation between THYM and AMUN is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.13

Return for Risk

THYM vs. AMUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Income Municipal ETF (THYM) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	THYM	AMUN	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.77	2.07	-0.30

Drawdowns

THYM vs. AMUN - Drawdown Comparison

The maximum THYM drawdown since its inception was -2.93%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for THYM and AMUN.

Drawdown Indicators

	THYM	AMUN	Difference
Max Drawdown Largest peak-to-trough decline	-2.93%	-0.61%	-2.32%
Current Drawdown Current decline from peak	0.00%	-0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.49%	-0.09%	-0.40%

Volatility

Volatility by Period

	THYM	AMUN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.35%	1.00%	+3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.35%	1.00%	+3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.35%	1.00%	+3.35%

THYM vs. AMUN - Expense Ratio Comparison

THYM has a 0.32% expense ratio, which is higher than AMUN's 0.25% expense ratio.

Dividends

THYM vs. AMUN - Dividend Comparison

THYM's dividend yield for the trailing twelve months is around 2.18%, more than AMUN's 1.89% yield.

Position	TTM	2025
AMUN abrdn Ultra Short Municipal Income Active ETF	1.89%	0.66%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%

Frequently Asked Questions

Can I hold both THYM and AMUN in my portfolio?

THYM and AMUN have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, THYM or AMUN?

On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, THYM or AMUN?

AMUN is cheaper with a 0.25% expense ratio, compared with 0.32% for THYM.

Which ETF pays a higher dividend yield, THYM or AMUN?

THYM has the higher dividend yield at 2.18%, compared with 1.89% for AMUN.

What is the main difference between THYM and AMUN?

THYM is categorized as High Yield Muni, while AMUN is Municipal Bonds. They also come from different issuers: T. Rowe Price and abrdn. Their fees differ too: 0.32% for THYM and 0.25% for AMUN.