TXXI vs. HYMB

Last updated Aug 5, 2026

TXXI (BondBloxx IR+M Tax-Aware Intermediate Duration ETF) and HYMB (State Street SPDR Nuveen ICE High Yield Municipal Bond ETF) are both Municipal Bonds funds. TXXI is actively managed, while HYMB is passively managed. Over the past year, TXXI returned 4.97% vs 6.87% for HYMB. Their 0.74 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.35% expense ratio.

Performance

TXXI vs. HYMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx IR+M Tax-Aware Intermediate Duration ETF (TXXI) and State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TXXI achieves a 0.84% return, which is significantly lower than HYMB's 2.38% return.

TXXI

• 1D: 0.32%
• 1M: -1.19%
• 6M: 0.15%
• YTD: 0.84%
• 1Y: 4.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.83%

HYMB

• 1D: 0.28%
• 1M: -1.63%
• 6M: 1.38%
• YTD: 2.38%
• 1Y: 6.87%
• 3Y*: 4.65%
• 5Y*: 0.04%
• 10Y*: 2.21%
• ALL TIME*: 4.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF	$57.72M	$40.67M	$29.61M
TXXI BondBloxx IR+M Tax-Aware Intermediate Duration ETF	$594.21K	$416.48K	$324.88K

TXXI vs. HYMB - Yearly Performance Comparison

	2026 (YTD)	2025
TXXI BondBloxx IR+M Tax-Aware Intermediate Duration ETF	0.84%	4.51%
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF	2.38%	1.62%

Correlation

The correlation between TXXI and HYMB is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	0.74

The correlation between TXXI and HYMB has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.

Return for Risk

TXXI vs. HYMB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TXXI

TXXI Risk / Return Rank: 56
TXXI Sharpe Ratio Rank: 64
TXXI Sortino Ratio Rank: 61
TXXI Omega Ratio Rank: 74
TXXI Calmar Ratio Rank: 40
TXXI Martin Ratio Rank: 40

HYMB

HYMB Risk / Return Rank: 65
HYMB Sharpe Ratio Rank: 65
HYMB Sortino Ratio Rank: 66
HYMB Omega Ratio Rank: 75
HYMB Calmar Ratio Rank: 55
HYMB Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TXXI vs. HYMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx IR+M Tax-Aware Intermediate Duration ETF (TXXI) and State Street SPDR Nuveen ICE 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.

	TXXI	HYMB	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.73	-0.02
Sortino ratio: Return per unit of downside risk	2.34	2.44	-0.10
Omega ratio: Gain probability vs. loss probability	1.35	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	1.62	2.22	-0.60
Martin ratio: Return relative to average drawdown	4.84	8.97	-4.13

TXXI vs. HYMB - Sharpe Ratio Comparison

The current TXXI Sharpe Ratio is 1.71, which is comparable to the HYMB Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of TXXI and HYMB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TXXI vs. HYMB - Drawdown Comparison

The maximum TXXI drawdown since its inception was -3.08%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for TXXI and HYMB.

Drawdown Indicators

	TXXI	HYMB	Difference
Max Drawdown Largest peak-to-trough decline	-3.08%	-29.57%	+26.49%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-3.11%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.57%	—
Current Drawdown Current decline from peak	-1.47%	-1.63%	+0.16%
Average Drawdown Average peak-to-trough decline	-0.74%	-3.77%	+3.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.77%	+0.26%

Volatility

TXXI vs. HYMB - Volatility Comparison

The current volatility for BondBloxx IR+M Tax-Aware Intermediate Duration ETF (TXXI) is 0.97%, while State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB) has a volatility of 1.18%. This indicates that TXXI experiences smaller price fluctuations and is considered to be less risky than HYMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXXI	HYMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	1.18%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	2.45%	3.26%	-0.81%
Volatility (1Y) Calculated over the trailing 1-year period	2.93%	4.00%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.40%	6.69%	-3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.40%	11.37%	-7.97%

TXXI vs. HYMB - Expense Ratio Comparison

Both TXXI and HYMB have an expense ratio of 0.35%.

Dividends

TXXI vs. HYMB - Dividend Comparison

TXXI's dividend yield for the trailing twelve months is around 3.48%, less than HYMB's 4.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF	4.60%	4.55%	4.29%	4.07%	3.77%	3.19%	3.55%	3.95%	4.03%	3.78%	4.08%	4.54%
TXXI BondBloxx IR+M Tax-Aware Intermediate Duration ETF	3.48%	2.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TXXI and HYMB in my portfolio?

TXXI and HYMB have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TXXI or HYMB?

HYMB has higher volatility (1.18%) compared to TXXI (0.97%). In terms of maximum drawdown, TXXI dropped -3.08% vs HYMB's -29.57%.

Which ETF is better, TXXI or HYMB?

On 1-year performance, HYMB leads with 6.87% vs 4.97% for TXXI. Both ETFs have the same 0.35% expense ratio. On volatility, TXXI has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TXXI or HYMB?

Over the 1-year period, HYMB has performed better with a 6.87% return vs 4.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TXXI or HYMB?

TXXI and HYMB have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, TXXI or HYMB?

HYMB has the higher dividend yield at 4.60%, compared with 3.48% for TXXI.

What is the main difference between TXXI and HYMB?

They also come from different issuers: BondBloxx and State Street.

Which has better risk-adjusted returns?

HYMB currently has the higher Sharpe Ratio (1.73 vs 1.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.