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.
Performance
HICOX vs. HYD - Performance Comparison
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HICOX vs. HYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HICOX Colorado Bond Shares A Tax Exempt Fund | 0.72% | 4.36% | 8.64% | 5.10% | -6.14% | 4.44% | 4.69% | 6.42% | 4.64% | 5.63% |
HYD VanEck Vectors High-Yield Municipal Index ETF | -0.34% | 2.83% | 4.94% | 6.52% | -15.97% | 5.05% | 0.17% | 9.34% | 2.19% | 9.78% |
Returns By Period
In the year-to-date period, HICOX achieves a 0.72% return, which is significantly higher than HYD's -0.34% return. Over the past 10 years, HICOX has outperformed HYD with an annualized return of 4.03%, while HYD has yielded a comparatively lower 2.06% annualized return.
HICOX
- 1D
- 0.34%
- 1M
- -0.76%
- YTD
- 0.72%
- 6M
- 2.56%
- 1Y
- 5.36%
- 3Y*
- 5.71%
- 5Y*
- 2.94%
- 10Y*
- 4.03%
HYD
- 1D
- 0.90%
- 1M
- -1.26%
- YTD
- -0.34%
- 6M
- 1.38%
- 1Y
- 2.70%
- 3Y*
- 3.60%
- 5Y*
- -0.11%
- 10Y*
- 2.06%
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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.
Return for Risk
HICOX vs. HYD — Risk / Return Rank
HICOX
HYD
HICOX vs. HYD - Risk-Adjusted Trends 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.
| HICOX | HYD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.38 | 0.46 | +0.92 |
Sortino ratioReturn per unit of downside risk | 1.78 | 0.59 | +1.18 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.11 | +0.37 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 0.73 | +0.67 |
Martin ratioReturn relative to average drawdown | 6.74 | 1.76 | +4.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HICOX | HYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 0.46 | +0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | -0.02 | +0.86 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.31 | 0.16 | +1.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.61 | 0.44 | +1.17 |
Correlation
The correlation between HICOX and HYD is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HICOX vs. HYD - Dividend Comparison
HICOX's dividend yield for the trailing twelve months is around 5.17%, more than HYD's 4.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HICOX Colorado Bond Shares A Tax Exempt Fund | 5.17% | 3.98% | 6.34% | 2.53% | 2.85% | 3.60% | 3.64% | 4.11% | 4.54% | 4.56% | 5.49% | 4.32% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.38% | 4.29% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 4.43% | 4.29% | 4.58% | 4.82% |
Drawdowns
HICOX vs. HYD - Drawdown Comparison
The maximum HICOX drawdown since its inception was -11.00%, smaller than the maximum HYD drawdown of -35.61%. Use the drawdown chart below to compare losses from any high point for HICOX and HYD.
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Drawdown Indicators
| HICOX | HYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.00% | -35.61% | +24.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.67% | -4.42% | +0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -9.66% | -20.72% | +11.06% |
Max Drawdown (10Y)Largest decline over 10 years | -9.66% | -35.61% | +25.95% |
Current DrawdownCurrent decline from peak | -0.76% | -4.40% | +3.64% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -4.34% | +1.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 1.83% | -1.07% |
Volatility
HICOX vs. HYD - Volatility Comparison
The current volatility for Colorado Bond Shares A Tax Exempt Fund (HICOX) is 0.93%, while VanEck Vectors High-Yield Municipal Index ETF (HYD) has a volatility of 2.22%. 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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Volatility by Period
| HICOX | HYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 2.22% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 1.56% | 2.83% | -1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 5.90% | -1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.53% | 6.44% | -2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.09% | 12.60% | -9.51% |