EWX vs SHYM

Comparison between STATE STREET(R) SPDR(R) S&P(R) EMERGING MARKETS SMALL CAP ETF (EWX, ETF) and iShares High Yield Muni Income Active ETF (SHYM, ETF).

5-Year PerformanceEWX has outperformed SHYM, delivering a return of +7.2% compared to +0.8%

EWX vs SHYM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	EWX(ETF)	SHYM(ETF)
Net Assets	$747M	$745M
Expense Ratio	0.65%	0.40%
Max Drawdown	63.90%	26.45%
Sharpe Ratio	1.16	0.40
5Y Beta	0.62	-0.05
5Y Dividends CAGR	9.64%	66.79%

Net Assets

Winner

EWX

$747M

SHYM

$745M

Expense Ratio

EWX

0.65%

Winner

SHYM

0.40%

Max Drawdown

EWX

63.90%

Winner

SHYM

26.45%

Sharpe Ratio

Winner

EWX

1.16

SHYM

0.40

5Y Beta

EWX

0.62

Winner

SHYM

-0.05

5Y Dividends CAGR

EWX

9.64%

Winner

SHYM

66.79%

EWX vs SHYM - Historical Returns

Returns include dividend reinvestment.

Period	EWX	SHYM
1 month	+3.91%	+1.43%
3 months	+12.72%	+1.58%
6 months	+17.24%	+2.47%
1 year	+26.67%	+4.94%
5 years(CAGR)	+7.25%	+0.84%
10 years(CAGR)	+10.02%	N/A
Max(CAGR)	+4.70%	+1.88%

Winner

EWX

+3.91%

SHYM

+1.43%

Winner

EWX

+12.72%

SHYM

+1.58%

Winner

EWX

+17.24%

SHYM

+2.47%

Winner

EWX

+26.67%

SHYM

+4.94%

5Y(CAGR)

Winner

EWX

+7.25%

SHYM

+0.84%

10Y(CAGR)

EWX

+10.02%

SHYM

N/A

Max(CAGR)

Winner

EWX

+4.70%

SHYM

+1.88%

EWX vs SHYM - Annual Returns (2008 - 2026)

Returns include dividend reinvestment.

Year	EWX	SHYM
2026	+13.83%	+2.04%
2025	+16.17%	+2.36%
2024	+7.64%	+7.19%
2023	+17.12%	+8.51%
2022	-15.32%	-15.84%
2021	+16.66%	+6.71%
2020	+13.04%	N/A
2019	+14.58%	N/A
2018	-19.74%	N/A
2017	+32.53%	N/A
2016	+10.04%	N/A
2015	-11.76%	N/A
2014	+0.87%	N/A
2013	+0.15%	N/A
2012	+23.85%	N/A
2011	-30.79%	N/A
2010	+19.60%	N/A
2009	+92.49%	N/A
2008	-53.20%	N/A

EWX vs SHYM Drawdown Comparison

The maximum drawdown for EWX was -63.90%, occurring on Nov 20, 2008. Recovery took 583 trading sessions.

The maximum drawdown for SHYM was -22.55%, occurring on Oct 24, 2022. Recovery took 908 trading sessions.

The current EWX drawdown is -0.45%.

Rank	EWX	SHYM
#1	-63.90% May 19, 2008 - Sep 13, 2010	-22.55% Jul 19, 2021 - Feb 28, 2025
#2	-42.99% Jan 26, 2018 - Dec 28, 2020	-8.06% Feb 28, 2025 - Jan 2, 2026
#3	-34.12% Jan 5, 2011 - Sep 5, 2014	-2.23% Feb 27, 2026 - May 29, 2026
#4	-31.87% Sep 5, 2014 - Jul 14, 2017	-0.72% Jun 10, 2021 - Jul 2, 2021
#5	-24.67% Jul 12, 2021 - Apr 9, 2024	-0.27% Apr 15, 2021 - Apr 22, 2021
#6	-21.36% Oct 7, 2024 - Jul 3, 2025	-0.27% Jan 14, 2026 - Jan 27, 2026
#7	-9.20% Jul 12, 2024 - Sep 24, 2024	-0.18% Feb 4, 2026 - Feb 12, 2026
#8	-7.98% Feb 25, 2026 - Apr 13, 2026	-0.16% Jun 9, 2026 - Jun 15, 2026
#9	-6.48% Nov 4, 2010 - Jan 3, 2011	-0.13% Jun 4, 2026 - Jun 9, 2026
#10	-5.86% May 26, 2026 - Jun 10, 2026	-0.13% Apr 28, 2021 - May 5, 2021
#11	-5.85% Apr 28, 2021 - May 28, 2021	-0.12% May 6, 2021 - May 13, 2021
#12	-4.99% Sep 17, 2025 - Jan 9, 2026	-0.10% Mar 26, 2021 - Mar 30, 2021
#13	-4.85% Apr 9, 2024 - May 2, 2024	-0.06% Jul 12, 2021 - Jul 14, 2021
#14	-4.38% May 11, 2026 - May 26, 2026	-0.04% Jan 12, 2026 - Jan 14, 2026
#15	-3.93% May 20, 2024 - Jul 3, 2024	-0.04% Feb 23, 2026 - Feb 27, 2026

Correlation

Correlation between EWX and SHYM is 0.80 which considered as a strong positive correlation - the stocks tend to move together.

0.80

-101

Dividend Comparison (2008 - 2026)

EWX vs SHYM dividend yield comparison.

Year	EWX	SHYM
2026	0.00%	1.70%
2025	2.91%	4.55%
2024	2.90%	4.35%
2023	2.32%	4.35%
2022	3.00%	4.01%
2021	2.77%	2.97%
2020	2.24%	0.00%
2019	2.73%	0.00%
2018	3.26%	0.00%
2017	2.30%	0.00%
2016	2.46%	0.00%
2015	3.04%	0.00%
2014	2.74%	0.00%
2013	2.33%	0.00%
2012	2.27%	0.00%
2011	5.58%	0.00%
2010	3.03%	0.00%
2009	1.79%	0.00%
2008	0.85%	0.00%