SPYT vs MHF

Comparison between DEFIANCE S&P 500 INCOME TARGET ETF (SPYT, ETF) and Western Asset Municipal High Income Fund Inc (MHF, ETF).

SPYT vs MHF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SPYT(ETF)	MHF(ETF)
Net Assets	$154M	$154M
Expense Ratio	0.92%	N/A
Max Drawdown	24.76%	35.92%
Sharpe Ratio	1.02	0.36
5Y Beta	0.90	0.20
5Y Dividends CAGR	N/A	10.64%

Net Assets

SPYT

$154M

Winner

MHF

$154M

Expense Ratio

SPYT

0.92%

MHF

N/A

Max Drawdown

Winner

SPYT

24.76%

MHF

35.92%

Sharpe Ratio

Winner

SPYT

1.02

MHF

0.36

5Y Beta

SPYT

0.90

Winner

MHF

0.20

5Y Dividends CAGR

SPYT

N/A

MHF

10.64%

SPYT vs MHF - Historical Returns

Returns include dividend reinvestment.

Period	SPYT	MHF
1 month	+0.86%	+0.00%
3 months	+3.80%	+0.26%
6 months	+7.19%	+2.81%
1 year	+15.01%	+8.77%
5 years(CAGR)	N/A	+1.47%
10 years(CAGR)	N/A	+2.63%
Max(CAGR)	+14.31%	+4.90%

Winner

SPYT

+0.86%

MHF

+0.00%

Winner

SPYT

+3.80%

MHF

+0.26%

Winner

SPYT

+7.19%

MHF

+2.81%

Winner

SPYT

+15.01%

MHF

+8.77%

5Y(CAGR)

SPYT

N/A

MHF

+1.47%

10Y(CAGR)

SPYT

N/A

MHF

+2.63%

Max(CAGR)

Winner

SPYT

+14.31%

MHF

+4.90%

SPYT vs MHF - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	SPYT	MHF
2026	+7.86%	+2.87%
2025	+12.75%	+5.62%
2024	+12.97%	+11.13%
2023	N/A	+3.08%
2022	N/A	-17.27%
2021	N/A	+10.73%
2020	N/A	+2.74%
2019	N/A	+11.83%
2018	N/A	-2.40%
2017	N/A	+7.69%
2016	N/A	-4.81%
2015	N/A	+6.80%
2014	N/A	+20.30%
2013	N/A	-12.41%
2012	N/A	+6.95%
2011	N/A	+16.94%
2010	N/A	+3.58%
2009	N/A	+18.79%
2008	N/A	-6.14%
2007	N/A	-3.49%
2006	N/A	+15.59%
2005	N/A	+6.05%
2004	N/A	-0.82%
2003	N/A	+9.44%
2002	N/A	-2.15%
2001	N/A	+2.25%
2000	N/A	+21.56%
1999	N/A	-5.06%

SPYT vs MHF Drawdown Comparison

The maximum drawdown for SPYT was -18.22%, occurring on Apr 8, 2025. Recovery took 92 trading sessions.

The maximum drawdown for MHF was -29.95%, occurring on Oct 6, 2008. Recovery took 412 trading sessions.

The current SPYT drawdown is -2.09%. The current MHF drawdown is -5.73%.

Rank	SPYT	MHF
#1	-18.22% Feb 19, 2025 - Jul 2, 2025	-29.95% Jul 9, 2008 - Feb 26, 2010
#2	-8.17% Jul 16, 2024 - Sep 19, 2024	-26.72% Oct 25, 2021 - Feb 19, 2025
#3	-8.00% Feb 2, 2026 - Apr 14, 2026	-24.97% Feb 25, 2020 - Jan 26, 2021
#4	-4.84% Oct 28, 2025 - Jan 6, 2026	-24.71% Sep 26, 2012 - Dec 2, 2015
#5	-4.77% Mar 27, 2024 - May 14, 2024	-14.28% May 12, 2016 - Sep 19, 2017
#6	-4.33% Jun 2, 2026 - Jun 10, 2026	-14.13% Sep 28, 2010 - Sep 9, 2011
#7	-4.11% Dec 6, 2024 - Feb 18, 2025	-13.32% Mar 25, 2025 - Sep 19, 2025
#8	-2.79% Oct 8, 2025 - Oct 24, 2025	-13.25% Nov 12, 1999 - Jul 5, 2000
#9	-2.36% Jan 12, 2026 - Jan 27, 2026	-12.46% May 10, 2007 - May 30, 2008
#10	-2.34% Oct 14, 2024 - Nov 6, 2024	-11.92% Aug 24, 2001 - Jun 13, 2003
#11	-2.02% Jul 28, 2025 - Aug 8, 2025	-10.85% Mar 23, 2004 - May 26, 2005
#12	-1.79% May 14, 2026 - May 26, 2026	-9.99% Sep 19, 2017 - May 23, 2019
#13	-1.73% Nov 8, 2024 - Nov 26, 2024	-9.96% Sep 19, 2025 - Mar 27, 2026
#14	-1.20% May 21, 2024 - Jun 5, 2024	-9.23% Feb 27, 2012 - May 1, 2012
#15	-1.19% Aug 28, 2025 - Sep 10, 2025	-8.80% Jul 1, 2021 - Oct 25, 2021

Correlation

Correlation between SPYT and MHF is 0.73 which considered as a strong positive correlation - the stocks tend to move together.

0.73

-101

Dividend Comparison (1999 - 2026)

SPYT vs MHF dividend yield comparison.

Year	SPYT	MHF
2026	10.11%	2.98%
2025	21.40%	5.93%
2024	17.37%	5.65%
2023	0.00%	3.78%
2022	0.00%	3.72%
2021	0.00%	3.23%
2020	0.00%	3.75%
2019	0.00%	4.02%
2018	0.00%	4.42%
2017	0.00%	4.14%
2016	0.00%	4.53%
2015	0.00%	4.45%
2014	0.00%	4.73%
2013	0.00%	5.59%
2012	0.00%	5.13%
2011	0.00%	5.57%
2010	0.00%	6.14%
2009	0.00%	5.98%
2008	0.00%	6.66%
2007	0.00%	5.66%
2006	0.00%	4.92%
2005	0.00%	6.10%
2004	0.00%	7.38%
2003	0.00%	7.22%
2002	0.00%	7.46%
2001	0.00%	7.17%
2000	0.00%	7.16%
1999	0.00%	1.34%