SHYD vs. FLTR
SHYD (VanEck Short High Yield Muni ETF) and FLTR (VanEck Vectors Investment Grade Floating Rate ETF) are both exchange-traded funds - SHYD is a Municipal Bonds fund tracking the Bloomberg Municipal High Yield Short Duration, while FLTR is a Corporate Bonds fund tracking the MVIS US Investment Grade Floating Rate Index. Both are passively managed. Over the past 10 years, SHYD returned 2.07%/yr vs 3.50%/yr for FLTR. At a 0.05 correlation, their price movements are largely independent. SHYD charges 0.35%/yr vs 0.14%/yr for FLTR.
Performance
SHYD vs. FLTR - Performance Comparison
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Returns By Period
In the year-to-date period, SHYD achieves a 0.97% return, which is significantly lower than FLTR's 1.95% return. Over the past 10 years, SHYD has underperformed FLTR with an annualized return of 2.07%, while FLTR has yielded a comparatively higher 3.50% annualized return.
SHYD
- 1D
- 0.22%
- 1M
- 0.70%
- YTD
- 0.97%
- 6M
- 1.71%
- 1Y
- 5.18%
- 3Y*
- 4.46%
- 5Y*
- 0.97%
- 10Y*
- 2.07%
FLTR
- 1D
- 0.04%
- 1M
- 0.50%
- YTD
- 1.95%
- 6M
- 2.48%
- 1Y
- 5.30%
- 3Y*
- 6.10%
- 5Y*
- 4.50%
- 10Y*
- 3.50%
SHYD vs. FLTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHYD VanEck Short High Yield Muni ETF | 0.97% | 5.58% | 4.85% | 2.39% | -9.11% | 4.04% | 1.56% | 7.55% | 3.26% | 4.89% |
FLTR VanEck Vectors Investment Grade Floating Rate ETF | 1.95% | 5.22% | 7.38% | 7.41% | 0.74% | 0.55% | 1.44% | 5.70% | 0.30% | 2.80% |
Correlation
The correlation between SHYD and FLTR is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2014 | 0.05 |
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Return for Risk
SHYD vs. FLTR — Risk / Return Rank
SHYD
FLTR
SHYD vs. FLTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short High Yield Muni ETF (SHYD) and VanEck Vectors Investment Grade Floating Rate ETF (FLTR). 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.
| SHYD | FLTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.03 | ||
| Sortino ratioReturn per unit of downside risk | -10.16 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 3.15 | -1.80 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 16.96 | -14.56 |
| Martin ratioReturn relative to average drawdown | 7.88 | 101.22 | -93.35 |
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
| SHYD | FLTR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 6.77 | -5.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 2.12 | -1.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | 0.70 | -0.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.53 | -0.27 |
Drawdowns
SHYD vs. FLTR - Drawdown Comparison
The maximum SHYD drawdown since its inception was -31.22%, which is greater than FLTR's maximum drawdown of -17.84%. Use the drawdown chart below to compare losses from any high point for SHYD and FLTR.
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Drawdown Indicators
| SHYD | FLTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.22% | -17.84% | -13.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -0.31% | -1.86% |
Max Drawdown (3Y)Largest decline over 3 years | -4.17% | -1.93% | -2.24% |
Max Drawdown (5Y)Largest decline over 5 years | -13.32% | -3.06% | -10.26% |
Max Drawdown (10Y)Largest decline over 10 years | -31.22% | -17.84% | -13.38% |
Current DrawdownCurrent decline from peak | -0.17% | 0.00% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -3.03% | -0.67% | -2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.05% | +0.61% |
Volatility
SHYD vs. FLTR - Volatility Comparison
VanEck Short High Yield Muni ETF (SHYD) has a higher volatility of 0.86% compared to VanEck Vectors Investment Grade Floating Rate ETF (FLTR) at 0.25%. This indicates that SHYD's price experiences larger fluctuations and is considered to be riskier than FLTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYD | FLTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.25% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 1.93% | 0.62% | +1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 0.79% | +2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 2.13% | +3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.69% | 5.00% | +4.69% |
SHYD vs. FLTR - Expense Ratio Comparison
SHYD has a 0.35% expense ratio, which is higher than FLTR's 0.14% expense ratio.
Dividends
SHYD vs. FLTR - Dividend Comparison
SHYD's dividend yield for the trailing twelve months is around 3.50%, less than FLTR's 4.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLTR VanEck Vectors Investment Grade Floating Rate ETF | 4.73% | 4.97% | 5.93% | 6.07% | 2.29% | 0.63% | 1.49% | 3.05% | 2.67% | 1.69% | 1.16% | 0.71% |
SHYD VanEck Short High Yield Muni ETF | 3.50% | 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 FLTR have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYD has higher volatility (0.86%) compared to FLTR (0.25%). In terms of maximum drawdown, SHYD dropped -31.22% vs FLTR's -17.84%.
On 10-year performance, FLTR leads with 3.50% vs 2.07% for SHYD. On fees, FLTR is cheaper at 0.14% per year. On volatility, FLTR has been the lower-risk option at 0.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FLTR has performed better with a 3.50% return vs 2.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLTR is cheaper with a 0.14% expense ratio, compared with 0.35% for SHYD.
FLTR has the higher dividend yield at 4.73%, compared with 3.50% for SHYD.
SHYD is categorized as Municipal Bonds, while FLTR is Corporate Bonds. SHYD tracks Bloomberg Municipal High Yield Short Duration, while FLTR tracks MVIS US Investment Grade Floating Rate Index. Their fees differ too: 0.35% for SHYD and 0.14% for FLTR.
FLTR currently has the higher Sharpe Ratio (6.77 vs 1.74), 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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