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THYM

GradeBNASDAQ

T. Rowe Price High Income Municipal ETF

Municipal Bond · T. Rowe · Inception 2025-11-19

$48.22−0.47 (−0.98%)

As of Sep 23, 2026, 1:40 PM EDT

History starts Nov 21, 2025.History starts Nov 21, 2025.
Intraday session: down, 14 prints from 48.70 to 48.22. Range 48.22 to 48.64. Use the arrow keys to read each point.$48.30$48.40$48.50$48.6010 AM12 PM2 PM4 PM
Expense ratio
0.32%
Fund size
$29M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$48.72
52W range
low $48.53high $51.74

The ETF.net THYM Grade

B

66/ 100

Rank 5 of 19 in High-Yield Municipal Bonds⁠

Confidence High

Six-pillar profile for THYM. Scores out of 100: Cost 89, Risk 51, Mission 78, Tradability 37, Holdings 61, Durability 13. Strongest: Cost (89). Weakest: Durability (13). Leans toward Cost.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 66 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 89
    Category rank4/19 · top 21%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 78
    Category rank12/18 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 51
    Category rank11/19 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 37
    Category rank14/19 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 61
    Category rank10/19 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 13
    Category rank19/19 · bottom quartile

Graded as of Sep 22, 2026

Our read on THYM

ETF.net Research

BThe credit-risk end of T. Rowe Price's muni lineup: an active ETF chasing federally tax-exempt income in longer-term, low- to upper-medium quality bonds, terrain its muni desk has worked since 1985.

Stated mandate

The fund seeks a high level of income exempt from federal income taxes.

Why people hold it

  1. 01Active by design: T. Rowe's municipal team picks longer-term, lower-rated bonds one credit at a time, rather than tracking an index.troweprice.com
  2. 02The stated job is a high level of income exempt from federal income tax, with distributions declared monthly.
  3. 03Fee is 0.32%, close to what the typical muni ETF charges, for a strategy that leans on analysts instead of an index.troweprice.com
  4. 04It slots in as the credit sleeve of T. Rowe's muni ETF shelf, which already spans short, intermediate and long investment-grade maturities.investors.troweprice.com

Worth knowing

  1. 01Index heavyweights are far cheaper: VTEB runs 0.03% and MUB 0.05%. Here the fee buys credit research, not broad market exposure.
  2. 02Low- to upper-medium quality munis bring real default and liquidity risk, and longer maturities swing more when rates move.troweprice.com
  3. 03A November 2025 launch, small and thinly traded so far, which can mean wider bid-ask spreads than the long-established index munis.

THYM Holdings

As of Sep 20, 2026, 7:24 AM
Asset class
Bonds
Holdings
—
Top-10 weight
13%
Largest holding
UNIV HOSPS CLINICS AUTH WI UNVMED 04/48 ADJUSTABLE VAR2.0%
The fund’s holdings, weight-ordered — page 1 of 17.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—UNIV HOSPS CLINICS AUTH WI UNVMED 04/48 ADJUSTABLE VAR2.05%600,000$600K1
002—BUCKEYE OH TOBACCO SETTLEMENT BUCGEN 06/55 FIXED 51.80%700,000$526K2
003—PUERTO RICO SALES TAX FING COR PRCGEN 07/58 FIXED OID 51.62%500,000$473K1
004—MARYLAND ST ECON DEV CORP PRIV MDSDEV 06/52 FIXED 5.251.48%450,000$434K2
005—BLACK BELT ENERGY GAS DIST AL BBEUTL 12/55 ADJUSTABLE VAR1.22%350,000$358K3
006—PUERTO RICO CMWLTH PRC 11/51 ADJUSTABLE VAR1.10%456,390$322K2
007—CALIFORNIA ST STWD CMNTYS DEV CASDEV 09/40 FIXED 51.03%300,000$303K3
008—DELAWARE ST ECON DEV AUTH CHRT DESEDU 06/52 FIXED 40.99%400,000$289K1
009—TOBACCO SETTLEMENT FING CORP N TOBGEN 06/46 FIXED 50.96%295,000$280K2
010—SUMMIT CNTY OH DEV FIN AUTH PK SUMDEV 12/58 FIXED OID 60.89%250,000$260K1
011—PUERTO RICO CMWLTH PRC 07/46 FIXED 40.88%300,000$258K1
012—DELAWARE ST ECON DEV AUTH REVE DESDEV 09/46 FIXED 50.88%275,000$257K2
013—CALIFORNIA ST MUNI FIN AUTH RE CASFIN 01/55 FIXED OID 60.87%250,000$255K1
014—MARYLAND ST HLTH HGR EDUCTNL MDSMED 01/46 FIXED 5.50.86%250,000$252K2
015—CHESTER CNTY PA INDL DEV AUTH CHEDEV 10/52 FIXED 60.77%250,000$226K2

Showing 1–15 of 251 holdings

THYM Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

THYM$10,015
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. THYM $10,015. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for THYM. Periods over one year show the average yearly return.
PeriodTHYM
Year to date+0.1%
1 month−2.3%
3 months−3.5%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for THYM
YearReturn barTHYM
2026 YTD+0.1%
2025+0.3%

History from Nov 21, 2025

THYM in the news

ETF.net Research hasn’t filed on THYM yet — coverage lands here as it’s written.

THYM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.19 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 9 payments from 2025 to 2026 YTD. Dec 23, 2025 $0.19; Jan 27, 2026 $0.18; Feb 24, 2026 $0.18; Mar 26, 2026 $0.19; Apr 27, 2026 $0.19; May 26, 2026 $0.18; Jun 25, 2026 $0.19; Jul 28, 2026 $0.19; Aug 26, 2026 $0.19. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Aug 26, 2026Aug 28, 2026$0.19
Jul 28, 2026Jul 30, 2026$0.19
Jun 25, 2026Jun 29, 2026$0.19
May 26, 2026May 28, 2026$0.18
Apr 27, 2026Apr 29, 2026$0.19
Mar 26, 2026Mar 30, 2026$0.19
Feb 24, 2026Feb 26, 2026$0.18
Jan 27, 2026Jan 29, 2026$0.18
Dec 23, 2025Dec 26, 2025$0.19

THYM Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Nov 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Nov 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Nov 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.18
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

THYM Cost

Expense ratio0.32%
  • The middle half of High-Yield Municipal Bonds funds
  • Median 0.40%

1 of the 19 High-Yield Municipal Bonds funds charge less.

THYM costs $32.00 a year on $10,000. The median High-Yield Municipal Bonds fund costs $40.00.