VTEL vs. HYMB
VTEL (Vanguard Long-Term Tax-Exempt Bond ETF) and HYMB (State Street SPDR Nuveen ICE High Yield Municipal Bond ETF) are both Municipal Bonds funds - VTEL tracks the S&P 10+ Year National AMT-Free Municipal Bond Index while HYMB tracks the ICE US Select High Yield Crossover Municipal Index. Both are passively managed. Over the past year, VTEL returned 8.81% vs 8.44% for HYMB. A 0.79 correlation means they provide meaningful diversification when combined. VTEL charges 0.09%/yr vs 0.35%/yr for HYMB.
Performance
VTEL vs. HYMB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VTEL achieves a 1.89% return, which is significantly lower than HYMB's 3.26% return.
VTEL
- 1D
- -0.18%
- 1M
- -0.17%
- 6M
- 1.35%
- YTD
- 1.89%
- 1Y
- 8.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYMB
- 1D
- -0.20%
- 1M
- 0.06%
- 6M
- 2.07%
- YTD
- 3.26%
- 1Y
- 8.44%
- 3Y*
- 4.84%
- 5Y*
- 0.23%
- 10Y*
- 2.28%
VTEL vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VTEL Vanguard Long-Term Tax-Exempt Bond ETF | 1.89% | 6.61% |
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 3.26% | 4.84% |
Correlation
The correlation between VTEL and HYMB is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 22, 2025 | 0.79 |
The correlation between VTEL and HYMB has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VTEL vs. HYMB — Risk / Return Rank
VTEL
HYMB
VTEL vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) 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.
| VTEL | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.44 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 2.73 | +0.02 |
| Martin ratioReturn relative to average drawdown | 10.60 | 12.37 | -1.77 |
Loading charts...
Drawdowns
VTEL vs. HYMB - Drawdown Comparison
The maximum VTEL drawdown since its inception was -3.22%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for VTEL and HYMB.
Loading charts...
Drawdown Indicators
| VTEL | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.22% | -29.57% | +26.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -3.11% | -0.11% |
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 | -1.07% | -0.79% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -0.56% | -3.78% | +3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.68% | +0.16% |
Volatility
VTEL vs. HYMB - Volatility Comparison
Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB) have volatilities of 0.89% and 0.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VTEL | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.87% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 3.22% | -0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 4.01% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.70% | 6.67% | -2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.70% | 11.36% | -7.66% |
VTEL vs. HYMB - Expense Ratio Comparison
VTEL has a 0.09% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Dividends
VTEL vs. HYMB - Dividend Comparison
VTEL's dividend yield for the trailing twelve months is around 3.70%, less than HYMB's 4.54% 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 | 4.54% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
VTEL Vanguard Long-Term Tax-Exempt Bond ETF | 3.70% | 2.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VTEL and HYMB have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTEL has higher volatility (0.89%) compared to HYMB (0.87%). In terms of maximum drawdown, VTEL dropped -3.22% vs HYMB's -29.57%.
On 1-year performance, VTEL leads with 8.81% vs 8.44% for HYMB. On fees, VTEL is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VTEL has performed better with a 8.81% return vs 8.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTEL is cheaper with a 0.09% expense ratio, compared with 0.35% for HYMB.
HYMB has the higher dividend yield at 4.54%, compared with 3.70% for VTEL.
VTEL tracks S&P 10+ Year National AMT-Free Municipal Bond Index, while HYMB tracks ICE US Select High Yield Crossover Municipal Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.09% for VTEL and 0.35% for HYMB.
VTEL currently has the higher Sharpe Ratio (2.38 vs 2.13), 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.
Find the right allocation for VTEL and HYMB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer