VanEck Intermediate Muni ETF (ITM)

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VanEck Intermediate Muni ETF (ITM) is down 1.2% since the beginning of the year. ITM is currently trading at $46 per share. Investors who bought $1,000 worth of ITM shares 5 years ago would now be looking at an investment worth $997.

VanEck Intermediate Muni ETF (ITM) has returned -1.18% so far this year and 3.54% over the past 12 months. Over the last ten years, ITM has returned 1.62% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since Dec 6, 2007, ITM's average daily return is +0.01%, while the average monthly return is +0.28%. At this rate, an investment would double in approximately 20.7 years.

Historically, 62% of months were positive and 38% were negative. The best month was May 2020 with a return of +5.8%, while the worst month was Nov 2016 at -5.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.

On a daily basis, ITM closed higher 52% of trading days. The best single day was Sep 25, 2008 with a return of +7.9%, while the worst single day was Mar 18, 2020 at -12.2%.

VanEck Intermediate Muni ETF has an annualized alpha of 3.29%, beta of 0.02, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since December 06, 2007.

• This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (13.03%) than losses (6.16%) - typical of diversified or defensive assets.
• Beta of 0.02 may look defensive, but with R2 of 0.00 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 0.00 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.

ITM has an expense ratio of 0.24%, which is considered low.

ITM ranks 49 for risk / return — above 49% of ETFs peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.

VanEck Intermediate Muni ETF provided a 2.77% dividend yield over the last twelve months, with an annual payout of $1.27 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for VanEck Intermediate Muni 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 Intermediate 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 Intermediate Muni ETF was 24.75%, occurring on Mar 19, 2020. Recovery took 92 trading sessions.

The current VanEck Intermediate Muni ETF drawdown is 3.07%.

The chart below shows the rolling one-month volatility.