LEO vs. HYD
Compare and contrast key facts about BNY Mellon Strategic Municipals, Inc. (LEO) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
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
LEO vs. HYD - Performance Comparison
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LEO vs. HYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LEO BNY Mellon Strategic Municipals, Inc. | 0.70% | 9.85% | 6.94% | 0.07% | -24.13% | 4.53% | 5.03% | 24.76% | -12.13% | 9.07% |
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, LEO achieves a 0.70% return, which is significantly higher than HYD's -0.34% return. Over the past 10 years, LEO has underperformed HYD with an annualized return of 1.36%, while HYD has yielded a comparatively higher 2.06% annualized return.
LEO
- 1D
- 0.64%
- 1M
- -2.81%
- YTD
- 0.70%
- 6M
- 3.10%
- 1Y
- 6.76%
- 3Y*
- 4.67%
- 5Y*
- -1.70%
- 10Y*
- 1.36%
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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Return for Risk
LEO vs. HYD — Risk / Return Rank
LEO
HYD
LEO vs. HYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Strategic Municipals, Inc. (LEO) 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.
| LEO | HYD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.60 | 0.46 | +0.14 |
Sortino ratioReturn per unit of downside risk | 0.90 | 0.59 | +0.31 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.11 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.90 | 0.73 | +0.18 |
Martin ratioReturn relative to average drawdown | 2.37 | 1.76 | +0.62 |
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
| LEO | HYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.60 | 0.46 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | -0.02 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | 0.16 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.44 | -0.13 |
Correlation
The correlation between LEO and HYD is 0.30, 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
LEO vs. HYD - Dividend Comparison
LEO's dividend yield for the trailing twelve months is around 4.33%, less than HYD's 4.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LEO BNY Mellon Strategic Municipals, Inc. | 4.33% | 4.03% | 3.77% | 4.37% | 5.66% | 4.84% | 4.95% | 4.94% | 5.96% | 5.97% | 6.14% | 6.04% |
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
LEO vs. HYD - Drawdown Comparison
The maximum LEO drawdown since its inception was -47.35%, which is greater than HYD's maximum drawdown of -35.61%. Use the drawdown chart below to compare losses from any high point for LEO and HYD.
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Drawdown Indicators
| LEO | HYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.35% | -35.61% | -11.74% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -4.42% | -4.32% |
Max Drawdown (5Y)Largest decline over 5 years | -41.53% | -20.72% | -20.81% |
Max Drawdown (10Y)Largest decline over 10 years | -41.53% | -35.61% | -5.92% |
Current DrawdownCurrent decline from peak | -18.55% | -4.40% | -14.15% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -4.34% | -5.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 1.83% | +1.61% |
Volatility
LEO vs. HYD - Volatility Comparison
BNY Mellon Strategic Municipals, Inc. (LEO) has a higher volatility of 5.07% compared to VanEck Vectors High-Yield Municipal Index ETF (HYD) at 2.22%. This indicates that LEO's price experiences larger fluctuations and is considered to be riskier 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
| LEO | HYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 2.22% | +2.85% |
Volatility (6M)Calculated over the trailing 6-month period | 7.08% | 2.83% | +4.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 5.90% | +5.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.26% | 6.44% | +5.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.87% | 12.60% | +1.27% |