HIMU vs HYMB: Grades, Fees and Holdings Compared

Ishares High Yield Muni Active ETF

HIMUBCboe

State Street SPDR Nuveen ICE High Yield Municipal Bond ETF

HYMBANYSE Arca

Overlap

No data

Expense ratio

HYMB −0.04pt a year

HIMU0.39%HYMB0.35%

Avg volume · 30D

HYMB 5.0×the volume

HIMU703KHYMB3.54M

HIMU vs HYMB Performance

Oct 31, 2025 – Nov 2, 2026

+0.8%HIMU−0.3%HYMB

Expense ratio: HIMU 0.39%; HYMB 0.35%, better
Fund size: HIMU $2.77B; HYMB $3.83B
1Y total return: HIMU +0.8%, better; HYMB −0.3%
Yield (12M): HIMU 5.88%, better; HYMB 5.21%
Holdings: HIMU 1016; HYMB 2095
Avg volume (30D): HIMU 703K sh; HYMB 3.54M sh, better
NAV per share: HIMU $47.12; HYMB $23.99
52W range

ETF.net Grade

Pillar letters and Scores for HIMU, HYMB, with each pillar’s weight
Pillar	HIMU	HYMB
Cost30% weight	C47	B67Higher
Mission25% weight	A97Higher	A90
Risk15% weight	C51Higher	D39
Tradability15% weight	B69	B69
Holdings10% weight	C52	A87Higher
Durability5% weight	A87	A91Higher

Rank among High-Yield Municipal Bonds funds

How we build Categories ›

Same Category. HIMU and HYMB are both graded against the same 18 High-Yield Municipal Bonds funds, so their Grades compare head to head.

High-Yield Municipal Bonds⁠

Category · 18 funds

See all 18 ›

HYMB ranks 4th and HIMU 8th of 18 funds in the High-Yield Municipal Bonds Category.

Rank 1ACGHMCapital Group Municipal High-Income ETFScore 80
Rank 2AHYDVanEck High Yield Muni ETFScore 79
Rank 3AFMUBFidelity Municipal Bond Opportunities ETFScore 72
Rank 4AHYMBState Street SPDR Nuveen ICE High Yield Municipal Bond ETFScore 71
Rank 5ASHYDVanEck Short High Yield Muni ETFScore 70
Rank 7BTHYMT. Rowe Price High Income Municipal ETFScore 66
Rank 8BHIMUIshares High Yield Muni Active ETFScore 65
Rank 9BSHYMiShares Short Duration High Yield Muni Active ETFScore 62

Our read on each fund

ETF.net Research

HIMUBIshares High Yield Muni Active ETF

HYMBAState Street SPDR Nuveen ICE High Yield Municipal Bond ETF

In short

HIMU No data

HYMB Most muni index funds stop at investment grade. HYMB keeps going: its benchmark reaches from A-rated paper down through unrated deals, spreading roughly 1,900 tax-exempt bonds across that credit line. Income lands monthly.

Stated mandate

HIMU No data

HYMB The fund seeks to track, before fees and expenses, the price and yield performance of the ICE US Select High Yield Crossover Municipal Index, which covers lower-rated and unrated tax-exempt municipal debt issued in the United States.

Why people hold it

HIMU No data

HYMB The crossover mandate is the whole point: the index covers lower-rated (A3/A+ or lower) and unrated tax-exempt debt, not another top-grade general-obligation ladder.ssga.com
About 1,900 bonds dilute any single issuer's trouble, and State Street has run the fund since 2011, through more than one muni credit scare.
One of the more actively traded funds in the muni ETF aisle, which counts in a market where the underlying bonds themselves can sit still for weeks. Pays monthly.

Worth knowing

HIMU No data

HYMB 0.35% a year is the toll for assembling illiquid paper. Broad, plain-vanilla muni index funds such as VTEB and SCMB charge 0.03%.
Lower-rated and unrated munis carry default and downgrade risk that top-rated general-obligation bonds don't, and prices can move sharply when muni buyers step back.
The benchmark has been swapped before (Bloomberg to ICE in 2025), so older track records reflect a different index than the one the fund follows now.ssga.com

Full HIMU profile⁠

Full HYMB profile⁠

HIMU vs HYMB Holdings

How HIMU and HYMB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile97.9%
Asset classFixed Income100%

Sector

No Sector split for HYMB.

Country, concentration and asset class

Country by domicile

Country weights in HIMU and HYMB, widest gap first
Country	More in HIMUMore in HYMB	HIMU	HYMB
United States	HYMB +2.1 points	88.7%	90.8%
Puerto Rico	HIMU +2.0 points	11.2%	9.2%
Canada	HIMU +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

HIMU16.5%
HYMB7.9%

Securities held

HIMU987
HYMB2,023

Asset class

HIMU: Fixed Income
HYMB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. HIMU holds 987 securities, HYMB 2,023.

All 1,010 HIMU holdings⁠All 2,100 HYMB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

HIMU vs HYMB Cost

Overpaying HIMU vs HYMB

$772

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

HIMU 0.39%
$7,898
HYMB 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

HIMU 0.39%
HYMB 0.35%
Overpaying

Year by year

Year	HIMU	HYMB	Overpaying
10	$705	$634	$71
20	$2,725	$2,454	$271
30	$7,898	$7,126	$772

Expense ratio

0.39%HIMU
0.35%HYMB, cheaper

HYMB0.35%HIMU0.39%

0.30%0.70%

Middle half of High-Yield Municipal Bonds funds
Median 0.39%

HYMB 6th cheapest of 18 funds

HIMU 9th cheapest of 18 funds

HIMU vs HYMB Dividends

Last 12 months to Nov 2, 2026

Yield (12M): HIMU 5.88%, better; HYMB 5.21%
Payout (12M): HIMU $2.76; HYMB $1.24
Last payment: HIMU $0.20; HYMB $0.10
Ex-dividend: HIMU Nov 2, 2026; HYMB Nov 2, 2026
Paid on: HIMU Pays Nov 5, 2026; HYMB Pays Nov 5, 2026
Frequency: HIMU Monthly; HYMB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

HIMUMonthly · 21 paymentsAll HIMU payments⁠

HYMBMonthly · 46 paymentsAll HYMB payments⁠

HIMU vs HYMB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: HIMU 7.3%since Mar 2025HYMB 7.3%
Return per unit of riskSharpe ratio, 3 years: HIMU −0.40since Mar 2025HYMB 0.22
Worst fallMax drawdown, 5 years: HIMU −8.3%since Feb 2025HYMB −19.9%
Market sensitivityBeta, 5 years: HIMU 0.23HYMB 1.11; Market = 1

HIMU and HYMB in the news

All news⁠

New ETFs
MacKay's new muni ETF matches Capital Group's credit rule and waives its fee to 0.34%
Oct 5, 2026HIMUHYMB
New ETFs
GMO's ETF share class costs more than the fund's $35 million Class III shares
Oct 22, 2026HIMU
New ETFs
Nine new bond ETFs match the index fund beside them, or cost more
Oct 5, 2026HIMU
ETF Filings
Morgan Stanley files seven Eaton Vance muni ETFs with the fee left blank
Sep 16, 2026HIMU

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HIMU vs HYMB

In short

Stated mandate

Why people hold it