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HYD vs. VWALX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between HYD and VWALX is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.


-0.50.00.51.00.4

Performance

HYD vs. VWALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors High-Yield Municipal Index ETF (HYD) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX). The values are adjusted to include any dividend payments, if applicable.

100.00%110.00%120.00%130.00%140.00%JulyAugustSeptemberOctoberNovemberDecember
134.99%
105.39%
HYD
VWALX

Key characteristics

Sharpe Ratio

HYD:

0.74

VWALX:

0.82

Sortino Ratio

HYD:

1.04

VWALX:

1.13

Omega Ratio

HYD:

1.14

VWALX:

1.17

Calmar Ratio

HYD:

0.31

VWALX:

0.52

Martin Ratio

HYD:

4.31

VWALX:

3.48

Ulcer Index

HYD:

0.91%

VWALX:

0.95%

Daily Std Dev

HYD:

5.29%

VWALX:

4.02%

Max Drawdown

HYD:

-35.60%

VWALX:

-17.74%

Current Drawdown

HYD:

-7.99%

VWALX:

-2.66%

Returns By Period

In the year-to-date period, HYD achieves a 3.50% return, which is significantly higher than VWALX's 2.68% return. Over the past 10 years, HYD has outperformed VWALX with an annualized return of 3.48%, while VWALX has yielded a comparatively lower 3.05% annualized return.


HYD

YTD

3.50%

1M

-1.56%

6M

0.74%

1Y

3.90%

5Y*

-0.54%

10Y*

3.48%

VWALX

YTD

2.68%

1M

-0.99%

6M

1.06%

1Y

3.20%

5Y*

1.43%

10Y*

3.05%

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. VWALX - Expense Ratio Comparison

HYD has a 0.35% expense ratio, which is higher than VWALX's 0.09% expense ratio.


HYD
VanEck Vectors High-Yield Municipal Index ETF
Expense ratio chart for HYD: current value at 0.35% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.35%
Expense ratio chart for VWALX: current value at 0.09% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.09%

Risk-Adjusted Performance

HYD vs. VWALX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors High-Yield Municipal Index ETF (HYD) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX). 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.


Sharpe ratio
The chart of Sharpe ratio for HYD, currently valued at 0.74, compared to the broader market0.002.004.000.740.82
The chart of Sortino ratio for HYD, currently valued at 1.04, compared to the broader market-2.000.002.004.006.008.0010.001.041.13
The chart of Omega ratio for HYD, currently valued at 1.14, compared to the broader market0.501.001.502.002.503.001.141.17
The chart of Calmar ratio for HYD, currently valued at 0.31, compared to the broader market0.005.0010.0015.000.310.52
The chart of Martin ratio for HYD, currently valued at 4.31, compared to the broader market0.0020.0040.0060.0080.00100.004.313.48
HYD
VWALX

The current HYD Sharpe Ratio is 0.74, which is comparable to the VWALX Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of HYD and VWALX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.501.001.502.002.503.003.504.00JulyAugustSeptemberOctoberNovemberDecember
0.74
0.82
HYD
VWALX

Dividends

HYD vs. VWALX - Dividend Comparison

HYD's dividend yield for the trailing twelve months is around 4.32%, more than VWALX's 3.83% yield.


TTM20232022202120202019201820172016201520142013
HYD
VanEck Vectors High-Yield Municipal Index ETF
4.32%4.13%3.96%3.50%4.01%4.08%14.47%4.29%4.58%4.83%4.98%6.34%
VWALX
Vanguard High-Yield Tax-Exempt Fund Admiral Shares
3.83%3.59%3.44%2.93%3.16%3.44%3.84%3.77%3.88%3.75%3.83%4.19%

Drawdowns

HYD vs. VWALX - Drawdown Comparison

The maximum HYD drawdown since its inception was -35.60%, which is greater than VWALX's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for HYD and VWALX. For additional features, visit the drawdowns tool.


-10.00%-8.00%-6.00%-4.00%-2.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-7.99%
-2.66%
HYD
VWALX

Volatility

HYD vs. VWALX - Volatility Comparison

VanEck Vectors High-Yield Municipal Index ETF (HYD) has a higher volatility of 1.86% compared to Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) at 1.56%. This indicates that HYD's price experiences larger fluctuations and is considered to be riskier than VWALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%JulyAugustSeptemberOctoberNovemberDecember
1.86%
1.56%
HYD
VWALX
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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