THYM vs. SCNM

Last updated Jun 5, 2026

THYM (T. Rowe Price High Income Municipal ETF) and SCNM (Sterling Capital National Municipal Bond ETF) are both exchange-traded funds - THYM is a High Yield Muni fund actively managed by T. Rowe Price, while SCNM is a Municipal Bonds fund actively managed by Sterling Capital. Both are actively managed. A 0.61 correlation means they provide meaningful diversification when combined. THYM charges 0.32%/yr vs 0.35%/yr for SCNM.

Performance

THYM vs. SCNM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price High Income Municipal ETF (THYM) and Sterling Capital National Municipal Bond ETF (SCNM). 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 SCNM's 1.38% return.

THYM

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

SCNM

• 1D: 0.12%
• 1M: 0.93%
• YTD: 1.38%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

THYM vs. SCNM - Yearly Performance Comparison

	2026 (YTD)	2025
THYM T. Rowe Price High Income Municipal ETF	3.70%	0.06%
SCNM Sterling Capital National Municipal Bond ETF	1.38%	0.01%

Correlation

The correlation between THYM and SCNM is 0.61, 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 Dec 12, 2025	0.61

Return for Risk

THYM vs. SCNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Income Municipal ETF (THYM) and Sterling Capital National Municipal Bond ETF (SCNM). 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	SCNM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.77	0.92	+0.85

Drawdowns

THYM vs. SCNM - Drawdown Comparison

The maximum THYM drawdown since its inception was -2.93%, roughly equal to the maximum SCNM drawdown of -2.81%. Use the drawdown chart below to compare losses from any high point for THYM and SCNM.

Drawdown Indicators

	THYM	SCNM	Difference
Max Drawdown Largest peak-to-trough decline	-2.93%	-2.81%	-0.12%
Current Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	-0.49%	-0.83%	+0.34%

Volatility

Volatility by Period

	THYM	SCNM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.35%	3.27%	+1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.35%	3.27%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.35%	3.27%	+1.08%

THYM vs. SCNM - Expense Ratio Comparison

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

Dividends

THYM vs. SCNM - Dividend Comparison

THYM's dividend yield for the trailing twelve months is around 2.18%, more than SCNM's 1.50% yield.

Position	TTM	2025
SCNM Sterling Capital National Municipal Bond ETF	1.50%	0.23%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%

Frequently Asked Questions

Can I hold both THYM and SCNM in my portfolio?

THYM and SCNM have a correlation of 0.61, 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 SCNM?

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 SCNM?

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

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

THYM has the higher dividend yield at 2.18%, compared with 1.50% for SCNM.

What is the main difference between THYM and SCNM?

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