THYM vs. HYMB
THYM (T. Rowe Price High Income Municipal ETF) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both exchange-traded funds - THYM is a High Yield Muni fund actively managed by T. Rowe Price, while HYMB is a Municipal Bonds fund tracking the Bloomberg Municipal Yield. THYM is actively managed, while HYMB is passively managed. A 0.64 correlation means they provide meaningful diversification when combined. THYM charges 0.32%/yr vs 0.35%/yr for HYMB.
Performance
THYM vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, THYM achieves a 3.82% return, which is significantly higher than HYMB's 3.44% return.
THYM
- 1D
- -0.04%
- 1M
- 1.89%
- YTD
- 3.82%
- 6M
- 3.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYMB
- 1D
- 0.00%
- 1M
- 1.79%
- YTD
- 3.44%
- 6M
- 3.36%
- 1Y
- 7.33%
- 3Y*
- 4.88%
- 5Y*
- 0.44%
- 10Y*
- 2.34%
THYM vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
THYM T. Rowe Price High Income Municipal ETF | 3.82% | 0.25% |
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 3.44% | 0.17% |
Correlation
The correlation between THYM and HYMB is 0.64, 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 20, 2025 | 0.64 |
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Return for Risk
THYM vs. HYMB — Risk / Return Rank
THYM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYMB
THYM vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Income Municipal ETF (THYM) 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.
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.
| THYM | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.37 | — |
| Martin ratioReturn relative to average drawdown | — | 8.40 | — |
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Drawdowns
THYM vs. HYMB - Drawdown Comparison
The maximum THYM drawdown since its inception was -2.93%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for THYM and HYMB.
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Drawdown Indicators
| THYM | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.93% | -29.57% | +26.64% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.11% | — |
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 | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -0.47% | -3.79% | +3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.88% | — |
Volatility
THYM vs. HYMB - Volatility Comparison
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Volatility by Period
| THYM | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.85% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.18% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 4.04% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 6.67% | -2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.31% | 11.36% | -7.05% |
THYM vs. HYMB - Expense Ratio Comparison
THYM has a 0.32% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Dividends
THYM vs. HYMB - Dividend Comparison
THYM's dividend yield for the trailing twelve months is around 2.17%, less than HYMB's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF | 4.52% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
THYM T. Rowe Price High Income Municipal ETF | 2.17% | 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
THYM and HYMB have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, THYM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
THYM is cheaper with a 0.32% expense ratio, compared with 0.35% for HYMB.
HYMB has the higher dividend yield at 4.52%, compared with 2.17% for THYM.
THYM is categorized as High Yield Muni, while HYMB is Municipal Bonds. They also come from different issuers: T. Rowe Price and State Street. Their fees differ too: 0.32% for THYM and 0.35% for HYMB.
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