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ISIN
US92189F5364
CUSIP
92189F536
Issuer
VanEck
Inception Date
Jan 2, 2008
Region
North America (U.S.)
Leveraged
1x (No leverage)
Index Tracked
Bloomberg AMT-Free Long Continuous
Distribution Policy
Distributing
Asset Class
Bond
Assets Under Management
$700M

Share Price Chart


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Performance

MLN Performance Chart

VanEck Long Muni ETF (MLN) is up 2.5% since the beginning of the year. MLN is currently trading at $18 per share. Investors who bought $1,000 worth of MLN shares 5 years ago would now be looking at an investment worth $954.


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S&P 500 Index

Returns By Period

VanEck Long Muni ETF (MLN) has returned 2.53% so far this year and 8.68% over the past 12 months. Over the last ten years, MLN has returned 1.37% per year, falling short of the S&P 500 Index benchmark, which averaged 13.71% annually.


VanEck Long Muni ETF

1D
0.00%
1M
2.41%
YTD
2.53%
6M
2.00%
1Y
8.68%
3Y*
3.45%
5Y*
-0.94%
10Y*
1.37%

Benchmark (S&P 500 Index)

1D
-1.44%
1M
-1.45%
YTD
7.60%
6M
6.59%
1Y
22.24%
3Y*
19.20%
5Y*
11.54%
10Y*
13.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MLN Monthly Returns History

Based on dividend-adjusted daily data since Jan 10, 2008, MLN's average daily return is +0.01%, while the average monthly return is +0.27%. At this rate, an investment would double in approximately 21.4 years.

Historically, 62% of months were positive and 38% were negative. The best month was Nov 2023 with a return of +9.7%, while the worst month was Sep 2008 at -7.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.

On a daily basis, MLN closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +10.8%, while the worst single day was Mar 19, 2020 at -8.4%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20260.14%1.73%-1.74%1.44%0.11%0.86%2.53%
2025-0.56%1.55%-3.13%-0.93%-1.39%0.40%-1.23%1.69%4.04%1.56%-0.17%0.16%1.82%
2024-0.82%0.41%-0.32%-1.58%0.40%1.27%1.59%0.06%1.70%-1.85%2.28%-1.49%1.54%
20234.35%-3.43%2.85%0.23%-0.81%1.06%0.22%-2.44%-4.01%-2.87%9.70%3.75%8.05%
2022-4.42%-0.69%-5.24%-6.24%2.75%-4.90%4.94%-3.98%-5.86%-2.00%8.89%-0.74%-17.20%
20210.90%-2.78%0.73%1.41%1.02%0.65%0.68%-0.61%-1.31%-0.11%1.54%0.14%2.20%

Benchmark Metrics

VanEck Long Muni ETF has an annualized alpha of 3.04%, beta of 0.03, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 10, 2008.

  • This ETF participated in 17.97% of S&P 500 Index downside but only 17.64% of its upside - more exposed to losses than it benefited from rallies.
  • Beta of 0.03 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.

Alpha
3.04%
Beta
0.03
0.00
Upside Capture
17.64%
Downside Capture
17.97%

Expense Ratio

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


Return for Risk

Risk / Return Rank

MLN ranks 70 for risk / return — better than 70% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.


MLN Risk / Return Rank: 7070
Overall Rank
MLN Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
MLN Sortino Ratio Rank: 7070
Sortino Ratio Rank
MLN Omega Ratio Rank: 7676
Omega Ratio Rank
MLN Calmar Ratio Rank: 7272
Calmar Ratio Rank
MLN Martin Ratio Rank: 6666
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for VanEck Long Muni ETF (MLN) 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.


MLNBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

+0.19

Sortino ratioReturn per unit of downside risk

+0.50

Omega ratioGain probability vs. loss probability

1.41

1.32

+0.09

Calmar ratioReturn relative to maximum drawdown

3.41

2.46

+0.95

Martin ratioReturn relative to average drawdown

11.19

10.92

+0.27

Dividends

Dividend History

VanEck Long Muni ETF provided a 3.69% dividend yield over the last twelve months, with an annual payout of $0.65 per share. The fund has been increasing its distributions for 3 consecutive years.


2.60%2.80%3.00%3.20%3.40%3.60%3.80%$0.00$0.10$0.20$0.30$0.40$0.50$0.60$0.7020152016201720182019202020212022202320242025
Dividends
Dividend Yield
PeriodTTM20252024202320222021202020192018201720162015
Dividend$0.65$0.65$0.64$0.58$0.47$0.54$0.58$0.63$0.60$0.59$0.61$0.67

Dividend yield

3.69%3.73%3.59%3.19%2.67%2.52%2.69%2.98%3.09%2.91%3.16%3.38%

Monthly Dividends

The table displays the monthly dividend distributions for VanEck Long Muni ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026$0.00$0.06$0.05$0.06$0.05$0.05$0.27
2025$0.00$0.05$0.05$0.06$0.05$0.06$0.05$0.06$0.05$0.05$0.11$0.06$0.65
2024$0.00$0.05$0.05$0.06$0.05$0.05$0.05$0.06$0.05$0.05$0.06$0.11$0.64
2023$0.00$0.05$0.04$0.05$0.04$0.05$0.05$0.04$0.05$0.05$0.05$0.10$0.58
2022$0.00$0.04$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.08$0.47
2021$0.00$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.14$0.54

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 Long 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 Long Muni ETF was 28.36%, occurring on Dec 15, 2008. Recovery took 196 trading sessions.

The current VanEck Long Muni ETF drawdown is 6.02%.


Related event

Drawdown

Fall

Recovery

Underwater

Financial crisis2007–2009
-28.36%Dec 2008
10mo 26d9mo 14d
1y 8moJan 2008 - Sep 2009
Bear market2022
-24.46%Oct 2022
1y 3mo
4y 11moJul 2021 - now
COVID crash2020
-23.59%Mar 2020
9d4mo 24d
5mo 3dMar 2020 - Aug 2020
2013 correction2013
-16.46%Aug 2013
8mo 22d1y 3d
1y 8moDec 2012 - Aug 2014
2011 correction2011
-14.34%Jan 2011
3mo 7d6mo 17d
9mo 24dOct 2010 - Aug 2011

Drawdown Indicators


MLNBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

-28.36%

-56.78%

+28.42%

Max Drawdown (1Y)

Largest decline over 1 year

-2.56%

-9.10%

+6.54%

Max Drawdown (3Y)

Largest decline over 3 years

-9.84%

-18.90%

+9.06%

Max Drawdown (5Y)

Largest decline over 5 years

-24.46%

-25.43%

+0.97%

Max Drawdown (10Y)

Largest decline over 10 years

-24.46%

-33.92%

+9.46%

Current Drawdown

Current decline from peak

-6.02%

-3.21%

-2.81%

Average Drawdown

Average peak-to-trough decline

-5.73%

-10.71%

+4.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.78%

2.04%

-1.26%

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Portfolio Analyzer

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