VanEck Short High Yield Muni ETF (SHYD)

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VanEck Short High Yield Muni ETF (SHYD) is up 1.3% 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 $1,048.

VanEck Short High Yield Muni ETF (SHYD) has returned 1.32% so far this year and 4.98% over the past 12 months. Over the last ten years, SHYD has returned 2.01% per year, falling short of the S&P 500 Index benchmark, which averaged 13.71% annually.

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, 65% of months were positive and 35% 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 50% 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%.

VanEck Short High Yield Muni ETF has an annualized alpha of 0.89%, 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 15.67% 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.

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

SHYD ranks 53 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 Short High Yield Muni ETF provided a 3.49% dividend yield over the last twelve months, with an annual payout of $0.80 per share. The fund has been increasing its distributions for 3 consecutive years.

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.

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 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 chart below shows the rolling one-month volatility.