HYMB vs SPY
State Street SPDR Nuveen ICE High Yield Municipal Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. HYMB offers more diversification with 1,857 holdings.
Side-by-Side Comparison
| Metric | HYMB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $3.4B | $821.1B | |
| Dividend Yield | 4.61% | 1.01% | |
| Holdings | 1,857 | 505 | |
| YTD Return | +2.18% | +12.22% | |
| 1Y Return | +7.54% | +20.83% | |
| 3Y Return (annualized) | +4.88% | +21.70% | |
| 5Y Return (annualized) | +0.01% | +12.98% | |
| Volatility (annualized) | 7.3% | 15.3% | |
| Max Drawdown | -29.8% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Tax Preferred | Equity | |
| Inception | Apr 13, 2011 | Jan 22, 1993 |
HYMB vs SPY Performance
State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year HYMB returned +7.54% while SPY returned +20.83%. Year to date, HYMB is up 2.18% versus a gain of 12.22% for SPY.
Over three years, HYMB compounded at +4.88% per year against +21.70% for SPY; over five years the annualized figures are +0.01% and +12.98% respectively. Across the full 15-year window we track, SPY has the edge at +8.79% annualized vs +1.37%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 7.3% for HYMB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -29.8% for HYMB and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.35. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HYMB charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, HYMB currently yields 4.61% against 1.01% for SPY.
Holdings Overlap
HYMB and SPY share 0 holdings out of 533 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HYMB or SPY?
HYMB has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, HYMB or SPY?
Over the past year HYMB returned +7.54% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), HYMB annualized +1.37% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, HYMB or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 7.3% for HYMB. Worst drawdown: HYMB -29.8% vs SPY -56.5%.
Should I hold both HYMB and SPY?
HYMB and SPY have a monthly-return correlation of 0.35, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HYMB and SPY?
HYMB and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 533 unique securities.
Which pays a higher dividend, HYMB or SPY?
HYMB yields 4.61% while SPY yields 1.01%, so HYMB currently pays the higher dividend yield.
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