THYM vs. INTM

Last updated Jun 5, 2026

THYM (T. Rowe Price High Income Municipal ETF) and INTM (Invesco Intermediate Municipal ETF) are both exchange-traded funds - THYM is a High Yield Muni fund actively managed by T. Rowe Price, while INTM is a Municipal Bonds fund actively managed by Invesco. Both are actively managed. At a 0.33 correlation, their price movements are largely independent. THYM charges 0.32%/yr vs 0.35%/yr for INTM.

Performance

THYM vs. INTM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price High Income Municipal ETF (THYM) and Invesco Intermediate Municipal ETF (INTM). 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 INTM's 1.82% return.

THYM

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

INTM

• 1D: 0.08%
• 1M: 0.72%
• YTD: 1.82%
• 6M: 2.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

THYM vs. INTM - Yearly Performance Comparison

	2026 (YTD)	2025
THYM T. Rowe Price High Income Municipal ETF	3.70%	0.27%
INTM Invesco Intermediate Municipal ETF	1.82%	0.38%

Correlation

The correlation between THYM and INTM is 0.33, 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	0.33

Return for Risk

THYM vs. INTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Income Municipal ETF (THYM) and Invesco Intermediate Municipal ETF (INTM). 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	INTM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.77	3.05	-1.27

Drawdowns

THYM vs. INTM - Drawdown Comparison

The maximum THYM drawdown since its inception was -2.93%, which is greater than INTM's maximum drawdown of -2.65%. Use the drawdown chart below to compare losses from any high point for THYM and INTM.

Drawdown Indicators

	THYM	INTM	Difference
Max Drawdown Largest peak-to-trough decline	-2.93%	-2.65%	-0.28%
Current Drawdown Current decline from peak	0.00%	-0.54%	+0.54%
Average Drawdown Average peak-to-trough decline	-0.49%	-0.48%	-0.01%

Volatility

Volatility by Period

	THYM	INTM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.35%	2.53%	+1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.35%	2.53%	+1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.35%	2.53%	+1.82%

THYM vs. INTM - Expense Ratio Comparison

THYM has a 0.32% expense ratio, which is lower than INTM's 0.35% expense ratio.

Dividends

THYM vs. INTM - Dividend Comparison

THYM's dividend yield for the trailing twelve months is around 2.18%, less than INTM's 2.62% yield.

Position	TTM	2025
INTM Invesco Intermediate Municipal ETF	2.62%	1.15%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%

Frequently Asked Questions

Can I hold both THYM and INTM in my portfolio?

THYM and INTM have a correlation of 0.33, 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 INTM?

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.

Which ETF is cheaper, THYM or INTM?

THYM is cheaper with a 0.32% expense ratio, compared with 0.35% for INTM.

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

INTM has the higher dividend yield at 2.62%, compared with 2.18% for THYM.

What is the main difference between THYM and INTM?

THYM is categorized as High Yield Muni, while INTM is Municipal Bonds. They also come from different issuers: T. Rowe Price and Invesco. Their fees differ too: 0.32% for THYM and 0.35% for INTM.