VanEck Vectors High-Yield Municipal Index ETF (HYD)

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VanEck Vectors High-Yield Municipal Index ETF (HYD) is up 2.3% since the beginning of the year. HYD is currently trading at $51 per share. Investors who bought $1,000 worth of HYD shares 5 years ago would now be looking at an investment worth $994.

VanEck Vectors High-Yield Municipal Index ETF (HYD) has returned 2.33% so far this year and 7.42% over the past 12 months. Over the last ten years, HYD has returned 1.91% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Feb 5, 2009, HYD's average daily return is +0.02%, while the average monthly return is +0.43%. At this rate, an investment would double in approximately 13.5 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 56% 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%.

VanEck Vectors High-Yield Municipal Index ETF has an annualized alpha of 3.02%, 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 (21.50%) - 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.

HYD has an expense ratio of 0.35%, placing it in the medium range.

HYD ranks 57 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

VanEck Vectors High-Yield Municipal Index ETF provided a 4.25% dividend yield over the last twelve months, with an annual payout of $2.18 per share.

The table displays the monthly dividend distributions for VanEck Vectors High-Yield Municipal Index ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the VanEck Vectors High-Yield Municipal Index 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 Vectors High-Yield Municipal Index ETF was 35.61%, occurring on Mar 18, 2020. Recovery took 298 trading sessions.

The current VanEck Vectors High-Yield Municipal Index ETF drawdown is 1.84%.

The chart below shows the rolling one-month volatility.