SHYD vs. FLRT
SHYD (VanEck Short High Yield Muni ETF) and FLRT (Pacer Aristotle Pacific Floating Rate High Income ETF) are both exchange-traded funds - SHYD is a Municipal Bonds fund tracking the Bloomberg Municipal High Yield Short Duration, while FLRT is a Bank Loan fund actively managed by Pacer. SHYD is passively managed, while FLRT is actively managed. Over the past 10 years, SHYD returned 1.95%/yr vs 4.83%/yr for FLRT. Their 0.07 correlation means their historical movements had little consistent relationship. SHYD charges 0.35%/yr vs 0.60%/yr for FLRT.
Performance
SHYD vs. FLRT - Performance Comparison
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Returns By Period
In the year-to-date period, SHYD achieves a 0.81% return, which is significantly lower than FLRT's 2.39% return. Over the past 10 years, SHYD has underperformed FLRT with an annualized return of 1.95%, while FLRT has yielded a comparatively higher 4.83% annualized return.
SHYD
- 1D
- 0.00%
- 1M
- -0.50%
- 6M
- 0.25%
- YTD
- 0.81%
- 1Y
- 3.70%
- 3Y*
- 4.26%
- 5Y*
- 0.64%
- 10Y*
- 1.95%
- ALL TIME*
- 2.24%
FLRT
- 1D
- 0.06%
- 1M
- 0.38%
- 6M
- 2.08%
- YTD
- 2.39%
- 1Y
- 5.09%
- 3Y*
- 7.87%
- 5Y*
- 6.08%
- 10Y*
- 4.83%
- ALL TIME*
- 4.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.88M | $4.59M | $4.78M | |
| $1.14M | $1.41M | $2.24M |
SHYD vs. FLRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHYD VanEck Short High Yield Muni ETF | 0.81% | 5.58% | 4.85% | 2.39% | -9.11% | 4.04% | 1.56% | 7.55% | 3.26% | 4.89% |
FLRT Pacer Aristotle Pacific Floating Rate High Income ETF | 2.39% | 6.24% | 9.18% | 14.59% | -2.72% | 3.18% | 2.78% | 9.44% | -1.14% | 1.72% |
Correlation
The correlation between SHYD and FLRT is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2015 | 0.07 |
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Return for Risk
SHYD vs. FLRT — Risk / Return Rank
SHYD
FLRT
SHYD vs. FLRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short High Yield Muni ETF (SHYD) and Pacer Aristotle Pacific Floating Rate High Income ETF (FLRT). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHYD | FLRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.97 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.76 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.89 | -0.96 |
| Martin ratioReturn relative to average drawdown | 6.41 | 10.59 | -4.18 |
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Drawdowns
SHYD vs. FLRT - Drawdown Comparison
The maximum SHYD drawdown since its inception was -31.22%, which is greater than FLRT's maximum drawdown of -20.96%. Use the drawdown chart below to compare losses from any high point for SHYD and FLRT.
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Drawdown Indicators
| SHYD | FLRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.22% | -20.96% | -10.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -1.78% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.17% | -2.87% | -1.30% |
Max Drawdown (5Y)Largest decline over 5 years | -13.32% | -7.60% | -5.72% |
Max Drawdown (10Y)Largest decline over 10 years | -31.22% | -20.96% | -10.26% |
Current DrawdownCurrent decline from peak | -0.67% | 0.00% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -1.39% | -1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.48% | +0.17% |
Volatility
SHYD vs. FLRT - Volatility Comparison
VanEck Short High Yield Muni ETF (SHYD) has a higher volatility of 0.68% compared to Pacer Aristotle Pacific Floating Rate High Income ETF (FLRT) at 0.29%. This indicates that SHYD's price experiences larger fluctuations and is considered to be riskier than FLRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYD | FLRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.29% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.02% | 1.19% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 1.49% | +1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.38% | 2.30% | +3.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.69% | 6.09% | +3.60% |
SHYD vs. FLRT - Expense Ratio Comparison
SHYD has a 0.35% expense ratio, which is lower than FLRT's 0.60% expense ratio.
Dividends
SHYD vs. FLRT - Dividend Comparison
SHYD's dividend yield for the trailing twelve months is around 3.61%, less than FLRT's 6.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRT Pacer Aristotle Pacific Floating Rate High Income ETF | 6.72% | 6.93% | 7.93% | 8.40% | 5.81% | 3.16% | 3.52% | 4.30% | 3.95% | 3.20% | 3.38% | 3.21% |
SHYD VanEck Short High Yield Muni ETF | 3.30% | 3.50% | 3.16% | 2.99% | 2.66% | 2.56% | 3.05% | 3.19% | 3.17% | 3.11% | 2.97% | 3.26% |
Frequently Asked Questions
SHYD and FLRT have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYD has higher volatility (0.68%) compared to FLRT (0.29%). In terms of maximum drawdown, SHYD dropped -31.22% vs FLRT's -20.96%.
On 10-year performance, FLRT leads with 4.83% vs 1.95% for SHYD. On fees, SHYD is cheaper at 0.35% per year. On volatility, FLRT has been the lower-risk option at 0.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FLRT has performed better with a 4.83% return vs 1.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYD is cheaper with a 0.35% expense ratio, compared with 0.60% for FLRT.
FLRT has the higher dividend yield at 6.72%, compared with 3.30% for SHYD.
SHYD is categorized as Municipal Bonds, while FLRT is Bank Loan. They also come from different issuers: VanEck and Pacer. Their fees differ too: 0.35% for SHYD and 0.60% for FLRT.
FLRT currently has the higher Sharpe Ratio (3.45 vs 1.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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