THYM vs. IBMO

Last updated Jun 21, 2026

THYM (T. Rowe Price High Income Municipal ETF) and IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) are both exchange-traded funds - THYM is a High Yield Muni fund actively managed by T. Rowe Price, while IBMO is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index. THYM is actively managed, while IBMO is passively managed. At a 0.12 correlation, their price movements are largely independent. THYM charges 0.32%/yr vs 0.18%/yr for IBMO.

Performance

THYM vs. IBMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price High Income Municipal ETF (THYM) and iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THYM achieves a 3.86% return, which is significantly higher than IBMO's 1.01% return.

THYM

• 1D: 0.40%
• 1M: 1.92%
• YTD: 3.86%
• 6M: 4.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMO

• 1D: 0.04%
• 1M: 0.17%
• YTD: 1.01%
• 6M: 1.02%
• 1Y: 2.58%
• 3Y*: 2.79%
• 5Y*: 0.70%
• 10Y*: —

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

THYM vs. IBMO - Yearly Performance Comparison

	2026 (YTD)	2025
THYM T. Rowe Price High Income Municipal ETF	3.86%	0.25%
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	1.01%	0.30%

Correlation

The correlation between THYM and IBMO is 0.12, 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 20, 2025	0.12

Return for Risk

THYM vs. IBMO — Risk / Return Rank

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

THYM

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

IBMO

IBMO Risk / Return Rank: 86
IBMO Sharpe Ratio Rank: 76
IBMO Sortino Ratio Rank: 87
IBMO Omega Ratio Rank: 83
IBMO Calmar Ratio Rank: 94
IBMO Martin Ratio Rank: 91

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.

THYM vs. IBMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Income Municipal ETF (THYM) and iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO). 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	IBMO	Difference
Sharpe ratio: Return per unit of total volatility	—	2.35	—
Sortino ratio: Return per unit of downside risk	—	3.77	—
Omega ratio: Gain probability vs. loss probability	—	1.48	—
Calmar ratio: Return relative to maximum drawdown	—	6.84	—
Martin ratio: Return relative to average drawdown	—	20.33	—

Drawdowns

THYM vs. IBMO - Drawdown Comparison

The maximum THYM drawdown since its inception was -2.93%, smaller than the maximum IBMO drawdown of -14.77%. Use the drawdown chart below to compare losses from any high point for THYM and IBMO.

Drawdown Indicators

	THYM	IBMO	Difference
Max Drawdown Largest peak-to-trough decline	-2.93%	-14.77%	+11.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.38%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.86%	—
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.47%	-2.31%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.13%	—

Volatility

Volatility by Period

	THYM	IBMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.79%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	1.10%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.33%	2.14%	+2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.33%	4.50%	-0.17%

THYM vs. IBMO - Expense Ratio Comparison

THYM has a 0.32% expense ratio, which is higher than IBMO's 0.18% expense ratio.

Dividends

THYM vs. IBMO - Dividend Comparison

THYM's dividend yield for the trailing twelve months is around 2.17%, less than IBMO's 2.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	2.39%	2.37%	2.15%	1.65%	0.89%	0.62%	1.03%	1.01%
THYM T. Rowe Price High Income Municipal ETF	2.17%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both THYM and IBMO in my portfolio?

THYM and IBMO have a correlation of 0.12, 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 IBMO?

On fees, IBMO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, THYM or IBMO?

IBMO is cheaper with a 0.18% expense ratio, compared with 0.32% for THYM.

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

IBMO has the higher dividend yield at 2.39%, compared with 2.17% for THYM.

What is the main difference between THYM and IBMO?

THYM is categorized as High Yield Muni, while IBMO is Municipal Bonds. They also come from different issuers: T. Rowe Price and iShares. Their fees differ too: 0.32% for THYM and 0.18% for IBMO.