- ISIN
- US92189H4092
- CUSIP
- 92189H409
- Issuer
- VanEck
- Inception Date
- Feb 4, 2009
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- ICE Broad High Yield Crossover Municipal Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $4B
Highlights
- Avg. Volume (1M)
- 878K
- Avg. Volume Value (1M)
- $44.56M
Share Price Chart
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Performance
HYD Performance Chart
VanEck High Yield Muni ETF (HYD) is up 0.4% since the beginning of the year. HYD is currently trading at $50 per share. Investors who bought $1,000 worth of HYD shares 5 years ago would now be looking at an investment worth $965.
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Compare this symbol against anything
Returns By Period
VanEck High Yield Muni ETF (HYD) has returned 0.41% so far this year and 5.79% over the past 12 months. Over the last ten years, HYD has returned 1.64% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
VanEck High Yield Muni ETF
- 1D
- -0.10%
- 1M
- -2.66%
- 6M
- 0.43%
- YTD
- 0.41%
- 1Y
- 5.79%
- 3Y*
- 3.85%
- 5Y*
- -0.72%
- 10Y*
- 1.64%
- ALL TIME*
- 4.72%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
HYD Monthly Returns History
Based on dividend-adjusted daily data since Feb 5, 2009, HYD's average daily return is +0.02%, while the average monthly return is +0.42%. At this rate, an investment would double in approximately 13.8 years.
Historically, 69% of months were positive and 31% were negative. The best month was Sep 2009 with a return of +10.4%, while the worst month was Mar 2020 at -20.1%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 4 months.
On a daily basis, HYD closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +15.4%, while the worst single day was Mar 18, 2020 at -18.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.02% | 1.33% | -2.51% | 2.34% | 0.91% | 0.55% | -2.10% | 0.41% | |||||
| 2025 | 0.10% | 1.50% | -2.27% | -1.16% | -0.55% | 0.89% | -1.76% | 1.11% | 3.24% | 0.82% | 0.63% | 0.39% | 2.83% |
| 2024 | 0.37% | 0.64% | 0.91% | -1.68% | 0.71% | 0.97% | 2.17% | -0.07% | 1.73% | -1.27% | 1.55% | -1.11% | 4.94% |
| 2023 | 3.74% | -2.34% | 1.69% | 0.03% | -0.48% | 0.71% | 0.11% | -0.49% | -3.05% | -2.17% | 6.04% | 2.93% | 6.52% |
| 2022 | -3.11% | -1.35% | -3.27% | -3.97% | 1.67% | -3.05% | 2.74% | -3.00% | -6.08% | -1.60% | 6.18% | -1.82% | -15.97% |
| 2021 | 2.05% | -1.67% | 1.26% | 1.17% | 1.03% | 1.05% | 0.67% | -0.28% | -1.33% | -0.34% | 0.81% | 0.59% | 5.05% |
Benchmark Metrics
VanEck High Yield Muni ETF has an annualized alpha of 2.89%, beta of 0.17, and R2 of 0.08 versus S&P 500 Index. Calculated based on daily prices since February 05, 2009.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (23.27%) than losses (22.31%) - typical of diversified or defensive assets.
- Beta of 0.17 may look defensive, but with R2 of 0.08 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.08 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.89%
- Beta
- 0.17
- R²
- 0.08
- Upside Capture
- 23.27%
- Downside Capture
- 22.31%
Expense Ratio
HYD has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HYD ranks 71 for risk / return — above 71% of ETFs peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for VanEck High Yield Muni ETF (HYD) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HYD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.25 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.00 | +0.11 |
| Martin ratioReturn relative to average drawdown | 8.26 | 8.49 | -0.23 |
Dividends
Dividend History
VanEck High Yield Muni ETF provided a 4.02% dividend yield over the last twelve months, with an annual payout of $2.02 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.02 | $2.19 | $2.23 | $2.13 | $2.00 | $2.19 | $2.47 | $2.61 | $2.71 | $2.68 | $2.72 | $2.98 |
Dividend yield | 4.02% | 4.29% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 4.43% | 4.29% | 4.58% | 4.82% |
Monthly Dividends
The table displays the monthly dividend distributions for VanEck High Yield Muni ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.19 | $0.17 | $0.21 | $0.18 | $0.15 | $0.21 | $1.12 | |||||
| 2025 | $0.00 | $0.21 | $0.16 | $0.19 | $0.17 | $0.18 | $0.19 | $0.19 | $0.19 | $0.17 | $0.36 | $0.18 | $2.19 |
| 2024 | $0.00 | $0.19 | $0.17 | $0.19 | $0.21 | $0.19 | $0.19 | $0.19 | $0.18 | $0.17 | $0.18 | $0.36 | $2.23 |
| 2023 | $0.00 | $0.18 | $0.16 | $0.19 | $0.16 | $0.17 | $0.17 | $0.18 | $0.18 | $0.20 | $0.19 | $0.34 | $2.13 |
| 2022 | $0.00 | $0.18 | $0.16 | $0.17 | $0.17 | $0.15 | $0.19 | $0.17 | $0.16 | $0.16 | $0.18 | $0.32 | $2.00 |
| 2021 | $0.00 | $0.20 | $0.18 | $0.19 | $0.18 | $0.19 | $0.17 | $0.18 | $0.19 | $0.18 | $0.18 | $0.34 | $2.19 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the VanEck High Yield Muni ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the VanEck High Yield Muni ETF was 35.61%, occurring on Mar 18, 2020. Recovery took 298 trading sessions.
The current VanEck High Yield Muni ETF drawdown is 3.68%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-35.61%Mar 2020 | 20d | 1y 2mo | 1y 2moFeb 2020 - May 2021 | COVID crash2020 |
-20.72%Oct 2022 | 1y 2mo | — | 5yAug 2021 - now | Bear market2022 |
-15.49%Sep 2013 | 3mo 15d | 1y 28d | 1y 4moMay 2013 - Oct 2014 | — |
-11.12%Jan 2011 | 2mo 24d | 6mo 16d | 9mo 10dOct 2010 - Aug 2011 | — |
-10.52%Dec 2016 | 2mo 24d | 8mo 5d | 10mo 29dSep 2016 - Aug 2017 | — |
Drawdown Indicators
| HYD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.61% | -56.78% | +21.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -9.10% | +5.89% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -18.90% | +12.96% |
Max Drawdown (5Y)Largest decline over 5 years | -20.72% | -25.43% | +4.71% |
Max Drawdown (10Y)Largest decline over 10 years | -35.61% | -33.92% | -1.69% |
Current DrawdownCurrent decline from peak | -3.68% | -1.58% | -2.10% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -10.70% | +6.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 2.14% | -1.32% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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