Correlation
The correlation between HICOX and HYD is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
HICOX vs. HYD
Compare and contrast key facts about Colorado Bond Shares A Tax Exempt Fund (HICOX) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
HICOX is managed by Freedom Funds. It was launched on Jun 3, 1987. HYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. It was launched on Feb 4, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HICOX or HYD.
Performance
HICOX vs. HYD - Performance Comparison
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Key characteristics
HICOX:
1.61
HYD:
0.26
HICOX:
2.01
HYD:
0.29
HICOX:
1.37
HYD:
1.05
HICOX:
1.67
HYD:
0.13
HICOX:
6.81
HYD:
0.71
HICOX:
0.90%
HYD:
1.94%
HICOX:
4.06%
HYD:
6.64%
HICOX:
-8.07%
HYD:
-35.60%
HICOX:
-1.07%
HYD:
-8.96%
Returns By Period
In the year-to-date period, HICOX achieves a 0.66% return, which is significantly higher than HYD's -2.41% return. Over the past 10 years, HICOX has outperformed HYD with an annualized return of 4.47%, while HYD has yielded a comparatively lower 3.15% annualized return.
HICOX
0.66%
1.17%
0.27%
6.50%
5.04%
4.49%
4.47%
HYD
-2.41%
-0.40%
-3.27%
1.73%
0.41%
1.05%
3.15%
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HICOX vs. HYD - Expense Ratio Comparison
HICOX has a 0.55% expense ratio, which is higher than HYD's 0.35% expense ratio.
Risk-Adjusted Performance
HICOX vs. HYD — Risk-Adjusted Performance Rank
HICOX
HYD
HICOX vs. HYD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Colorado Bond Shares A Tax Exempt Fund (HICOX) and VanEck Vectors High-Yield Municipal Index ETF (HYD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Dividends
HICOX vs. HYD - Dividend Comparison
HICOX's dividend yield for the trailing twelve months is around 5.57%, more than HYD's 4.37% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HICOX Colorado Bond Shares A Tax Exempt Fund | 5.57% | 5.44% | 4.99% | 4.64% | 3.93% | 4.15% | 4.12% | 4.55% | 4.74% | 5.53% | 4.14% | 4.85% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.37% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 14.47% | 4.29% | 4.58% | 4.82% | 4.98% |
Drawdowns
HICOX vs. HYD - Drawdown Comparison
The maximum HICOX drawdown since its inception was -8.07%, smaller than the maximum HYD drawdown of -35.60%. Use the drawdown chart below to compare losses from any high point for HICOX and HYD.
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Volatility
HICOX vs. HYD - Volatility Comparison
The current volatility for Colorado Bond Shares A Tax Exempt Fund (HICOX) is 0.95%, while VanEck Vectors High-Yield Municipal Index ETF (HYD) has a volatility of 1.30%. This indicates that HICOX experiences smaller price fluctuations and is considered to be less risky than HYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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