HYD vs. NEAR
Compare and contrast key facts about VanEck Vectors High-Yield Municipal Index ETF (HYD) and iShares Short Maturity Bond ETF (NEAR).
HYD and NEAR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. NEAR is an actively managed fund by iShares. It was launched on Sep 25, 2013.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYD or NEAR.
Key characteristics
| HYD | NEAR | |
|---|---|---|
| YTD Return | 4.63% | 4.26% |
| 1Y Return | 11.27% | 6.83% |
| 3Y Return (Ann) | -1.96% | 3.99% |
| 5Y Return (Ann) | -0.15% | 2.80% |
| 10Y Return (Ann) | 3.63% | 2.24% |
| Sharpe Ratio | 2.09 | 3.95 |
| Sortino Ratio | 3.06 | 6.35 |
| Omega Ratio | 1.42 | 1.90 |
| Calmar Ratio | 0.69 | 9.84 |
| Martin Ratio | 13.59 | 27.49 |
| Ulcer Index | 0.83% | 0.25% |
| Daily Std Dev | 5.41% | 1.76% |
| Max Drawdown | -35.60% | -9.60% |
| Current Drawdown | -6.98% | -0.67% |
Correlation
The correlation between HYD and NEAR is 0.24, 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.
Performance
HYD vs. NEAR - Performance Comparison
In the year-to-date period, HYD achieves a 4.63% return, which is significantly higher than NEAR's 4.26% return. Over the past 10 years, HYD has outperformed NEAR with an annualized return of 3.63%, while NEAR has yielded a comparatively lower 2.24% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
HYD vs. NEAR - Expense Ratio Comparison
HYD has a 0.35% expense ratio, which is higher than NEAR's 0.25% expense ratio.
Risk-Adjusted Performance
HYD vs. NEAR - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors High-Yield Municipal Index ETF (HYD) and iShares Short Maturity Bond ETF (NEAR). 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.
Dividends
HYD vs. NEAR - Dividend Comparison
HYD's dividend yield for the trailing twelve months is around 4.25%, less than NEAR's 5.16% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.25% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 14.47% | 4.29% | 4.58% | 4.83% | 4.98% | 6.34% |
NEAR iShares Short Maturity Bond ETF | 5.16% | 4.58% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% | 0.85% | 0.15% |
Drawdowns
HYD vs. NEAR - Drawdown Comparison
The maximum HYD drawdown since its inception was -35.60%, which is greater than NEAR's maximum drawdown of -9.60%. Use the drawdown chart below to compare losses from any high point for HYD and NEAR. For additional features, visit the drawdowns tool.
Volatility
HYD vs. NEAR - Volatility Comparison
VanEck Vectors High-Yield Municipal Index ETF (HYD) has a higher volatility of 2.17% compared to iShares Short Maturity Bond ETF (NEAR) at 0.45%. This indicates that HYD's price experiences larger fluctuations and is considered to be riskier than NEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.