VanEck Vectors High-Yield Municipal Index ETF (HYD) Sortino Ratio: 2.14
HYD's Sortino Ratio of 2.14 indicates that for each unit of downside volatility, it generates 2.14 units of excess return. The ratio is calculated using historical daily returns over the past 12 months (as of Apr 12, 2026).
Unlike other measures, Sortino only focuses on downside volatility (losses), making it particularly useful for investors more concerned about protecting against drawdowns than overall price swings.
HYD Sortino Ratio Rank
HYD ranks above 31.4% of all investments in our database based on Sortino Ratio over the past 12 months, indicating below-average returns relative to downside risk taken. Securities are ranked from 0 (worst) to 100 (best).
What moves the rank
- Strong returns with minimal downside volatility → Higher rank
- Severe or frequent drawdowns → Lower rank
- Upside volatility → No impact (Sortino doesn't penalize upside swings)
What you can do with this information
- Returns may not adequately compensate for downside risk taken
- Consider smaller allocation given below-average risk-adjusted profile
- Explore higher-ranked investments with better downside protection
- Assess whether downside exposure aligns with your portfolio goals
HYD Sortino Ratio Market Positioning
The chart shows HYD's Sortino Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better downside-adjusted returns.
- Red zone (bottom 25%): 1.82 or lower
- Yellow zone (middle 50%): 1.82 to 3.78
- Green zone (top 25%): 3.78 or higher
- Top 1%: 12.69+
- Median: 2.91 — half of all investments score higher
How it compares to other similar ETFs
The table compares VanEck Vectors High-Yield Municipal Index ETF's Sortino Ratio with other ETFs in the Municipal Bonds category across multiple time periods, showing how HYD's risk-adjusted performance compares to similar funds.
Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Apr 12, 2026.
| Symbol | Name | 1Y Sortino Ratio | 5Y Sortino Ratio | 10Y Sortino Ratio | All Time Sortino Ratio |
|---|---|---|---|---|---|
| SMMU | PIMCO Short Term Municipal Bond Active ETF | 7.35 | |||
| STAX | Macquarie Tax-Free USA Short Term ETF | 6.79 | |||
| MEAR | iShares Short Maturity Municipal Bond ETF | 6.14 | |||
| SUB | iShares Short-Term National Muni Bond ETF | 5.73 | |||
| CALI | iShares Short-Term California Muni Active ETF | 5.64 | |||
| CGSM | Capital Group Short Duration Municipal Income ETF | 5.36 | |||
| IBMQ | iShares iBonds Dec 2028 Term Muni Bond ETF | 5.34 | |||
| IBMO | iShares iBonds Dec 2026 Term Muni Bond ETF | 5.33 | |||
| VSDM | Vanguard Short Duration Tax-Exempt Bond ETF | 5.24 | |||
| EVSM | Eaton Vance Short Duration Municipal Income ETF | 5.20 | |||
| HYD | VanEck Vectors High-Yield Municipal Index ETF | 2.14 |
Historical Sortino Ratio
The chart shows HYD's rolling Sortino ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to downside risk, while declining trends may signal deteriorating risk-adjusted performance or increased volatility during market stress. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.
Identify market cycles by observing when HYD consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.
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Explore HYD risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.