- ISIN
- US92189F3872
- CUSIP
- 92189F387
- Issuer
- VanEck
- Inception Date
- Jan 13, 2014
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Bloomberg Municipal High Yield Short Duration
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $451M
Highlights
- Avg. Volume (1M)
- 62K
- Avg. Volume Value (1M)
- $1.41M
Share Price Chart
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Performance
SHYD Performance Chart
VanEck Short High Yield Muni ETF (SHYD) is up 0.8% since the beginning of the year. SHYD is currently trading at $23 per share. Investors who bought $1,000 worth of SHYD shares 5 years ago would now be looking at an investment worth $1,032.
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Returns By Period
VanEck Short High Yield Muni ETF (SHYD) has returned 0.81% so far this year and 3.70% over the past 12 months. Over the last ten years, SHYD has returned 1.95% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
VanEck Short High Yield Muni ETF
- 1D
- 0.00%
- 1M
- -0.50%
- 6M
- 0.25%
- YTD
- 0.81%
- 1Y
- 3.70%
- 3Y*
- 4.26%
- 5Y*
- 0.64%
- 10Y*
- 1.95%
- ALL TIME*
- 2.24%
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%
SHYD Monthly Returns History
Based on dividend-adjusted daily data since Jan 14, 2014, SHYD's average daily return is +0.01%, while the average monthly return is +0.20%. At this rate, an investment would double in approximately 28.9 years.
Historically, 64% of months were positive and 36% were negative. The best month was May 2020 with a return of +4.9%, while the worst month was Mar 2020 at -12.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, SHYD closed higher 49% of trading days. The best single day was Mar 20, 2020 with a return of +9.4%, while the worst single day was Mar 18, 2020 at -13.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.57% | 0.53% | -1.61% | 0.56% | 0.67% | 0.70% | -0.59% | 0.81% | |||||
| 2025 | 1.29% | 0.77% | -1.44% | -0.82% | 1.30% | 0.89% | 0.20% | 0.94% | 1.13% | 0.23% | 0.47% | 0.52% | 5.58% |
| 2024 | 0.00% | 1.34% | 0.42% | -0.29% | -0.54% | 1.45% | 0.46% | 0.90% | 1.02% | -0.10% | 0.81% | -0.69% | 4.85% |
| 2023 | 1.03% | -0.50% | -0.02% | 1.32% | -0.76% | 0.25% | -0.35% | 0.13% | -2.10% | -0.44% | 1.94% | 1.95% | 2.39% |
| 2022 | -3.18% | -0.60% | -3.55% | -2.42% | 2.04% | -2.39% | 3.08% | -1.64% | -3.77% | -0.41% | 3.56% | 0.13% | -9.11% |
| 2021 | 2.16% | -1.39% | 0.68% | 0.82% | 0.58% | 0.98% | 0.78% | -0.38% | -1.18% | -0.33% | 0.56% | 0.74% | 4.04% |
Benchmark Metrics
VanEck Short High Yield Muni ETF has an annualized alpha of 0.83%, beta of 0.14, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since January 14, 2014.
- This ETF participated in 16.05% of S&P 500 Index downside but only 13.66% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.14 may look defensive, but with R2 of 0.07 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 0.07 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
- 0.83%
- Beta
- 0.14
- R²
- 0.07
- Upside Capture
- 13.66%
- Downside Capture
- 16.05%
Expense Ratio
SHYD has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
SHYD ranks 61 for risk / return — above 61% 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 Short High Yield Muni ETF (SHYD) 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.
| SHYD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.00 | -0.08 |
| Martin ratioReturn relative to average drawdown | 6.41 | 8.49 | -2.08 |
Dividends
Dividend History
VanEck Short High Yield Muni ETF provided a 3.30% dividend yield over the last twelve months, with an annual payout of $0.75 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.75 | $0.80 | $0.71 | $0.66 | $0.59 | $0.64 | $0.76 | $0.81 | $0.77 | $0.75 | $0.71 | $0.80 |
Dividend yield | 3.30% | 3.50% | 3.16% | 2.99% | 2.66% | 2.56% | 3.05% | 3.19% | 3.17% | 3.11% | 2.97% | 3.26% |
Monthly Dividends
The table displays the monthly dividend distributions for VanEck Short 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 | $0.07 | $0.06 | $0.08 | $0.07 | $0.05 | $0.09 | $0.42 | |||||
| 2025 | $0.00 | $0.07 | $0.05 | $0.07 | $0.06 | $0.07 | $0.06 | $0.07 | $0.07 | $0.06 | $0.14 | $0.07 | $0.80 |
| 2024 | $0.00 | $0.06 | $0.05 | $0.07 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.12 | $0.71 |
| 2023 | $0.00 | $0.05 | $0.05 | $0.06 | $0.05 | $0.06 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.11 | $0.66 |
| 2022 | $0.00 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.10 | $0.59 |
| 2021 | $0.00 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.10 | $0.64 |
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 Short 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 Short High Yield Muni ETF was 31.22%, occurring on Mar 19, 2020. Recovery took 210 trading sessions.
The current VanEck Short High Yield Muni ETF drawdown is 0.67%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-31.22%Mar 2020 | 20d | 10mo 6d | 10mo 26dFeb 2020 - Jan 2021 | COVID crash2020 |
-13.32%Nov 2022 | 1y 2mo | 2y 9mo | 4y 6dAug 2021 - Aug 2025 | Bear market2022 |
-7.97%Dec 2016 | 3mo 8d | 9mo 8d | 1y 11dAug 2016 - Sep 2017 | — |
-4.24%Aug 2015 | 6mo 21d | 6mo 15d | 1y 1moFeb 2015 - Mar 2016 | — |
-2.17%Mar 2026 | 25d | 2mo 24d | 3mo 19dFeb 2026 - Jun 2026 | — |
Drawdown Indicators
| SHYD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.22% | -56.78% | +25.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -9.10% | +6.93% |
Max Drawdown (3Y)Largest decline over 3 years | -4.17% | -18.90% | +14.73% |
Max Drawdown (5Y)Largest decline over 5 years | -13.32% | -25.43% | +12.11% |
Max Drawdown (10Y)Largest decline over 10 years | -31.22% | -33.92% | +2.70% |
Current DrawdownCurrent decline from peak | -0.67% | -1.58% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -10.70% | +7.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 2.14% | -1.49% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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