MUB vs. HYD
Compare and contrast key facts about iShares National AMT-Free Muni Bond ETF (MUB) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
MUB and HYD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MUB is a passively managed fund by iShares that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Sep 7, 2007. 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. Both MUB and HYD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MUB or HYD.
Key characteristics
| MUB | HYD | |
|---|---|---|
| YTD Return | 1.31% | 4.70% |
| 1Y Return | 5.74% | 10.54% |
| 3Y Return (Ann) | -0.13% | -1.93% |
| 5Y Return (Ann) | 1.16% | -0.15% |
| 10Y Return (Ann) | 2.17% | 3.68% |
| Sharpe Ratio | 1.41 | 1.90 |
| Sortino Ratio | 2.04 | 2.75 |
| Omega Ratio | 1.27 | 1.38 |
| Calmar Ratio | 0.81 | 0.64 |
| Martin Ratio | 5.90 | 12.03 |
| Ulcer Index | 0.93% | 0.84% |
| Daily Std Dev | 3.90% | 5.30% |
| Max Drawdown | -13.68% | -35.60% |
| Current Drawdown | -1.46% | -6.93% |
Correlation
The correlation between MUB and HYD is 0.51, 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.
Performance
MUB vs. HYD - Performance Comparison
In the year-to-date period, MUB achieves a 1.31% return, which is significantly lower than HYD's 4.70% return. Over the past 10 years, MUB has underperformed HYD with an annualized return of 2.17%, while HYD has yielded a comparatively higher 3.68% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MUB vs. HYD - Expense Ratio Comparison
MUB has a 0.07% expense ratio, which is lower than HYD's 0.35% expense ratio.
Risk-Adjusted Performance
MUB vs. HYD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) 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.
Dividends
MUB vs. HYD - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 2.95%, less than HYD's 4.25% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 2.95% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% | 2.73% | 3.02% |
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% |
Drawdowns
MUB vs. HYD - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, smaller than the maximum HYD drawdown of -35.60%. Use the drawdown chart below to compare losses from any high point for MUB and HYD. For additional features, visit the drawdowns tool.
Volatility
MUB vs. HYD - Volatility Comparison
The current volatility for iShares National AMT-Free Muni Bond ETF (MUB) is 1.93%, while VanEck Vectors High-Yield Municipal Index ETF (HYD) has a volatility of 2.14%. This indicates that MUB 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.