SHYD vs. MUB
Compare and contrast key facts about VanEck Short High Yield Muni ETF (SHYD) and iShares National AMT-Free Muni Bond ETF (MUB).
SHYD and MUB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Municipal High Yield Short Duration. It was launched on Jan 13, 2014. 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. Both SHYD and MUB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SHYD vs. MUB - Performance Comparison
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SHYD vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHYD VanEck Short High Yield Muni ETF | -0.52% | 5.58% | 4.85% | 2.39% | -9.11% | 4.04% | 1.56% | 7.55% | 3.26% | 4.89% |
MUB iShares National AMT-Free Muni Bond ETF | -0.37% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
Returns By Period
In the year-to-date period, SHYD achieves a -0.52% return, which is significantly lower than MUB's -0.37% return. Both investments have delivered pretty close results over the past 10 years, with SHYD having a 2.03% annualized return and MUB not far behind at 1.96%.
SHYD
- 1D
- 0.18%
- 1M
- -1.61%
- YTD
- -0.52%
- 6M
- 0.69%
- 1Y
- 4.40%
- 3Y*
- 3.91%
- 5Y*
- 1.00%
- 10Y*
- 2.03%
MUB
- 1D
- 0.19%
- 1M
- -2.28%
- YTD
- -0.37%
- 6M
- 1.28%
- 1Y
- 3.94%
- 3Y*
- 2.53%
- 5Y*
- 0.79%
- 10Y*
- 1.96%
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SHYD vs. MUB - Expense Ratio Comparison
SHYD has a 0.35% expense ratio, which is higher than MUB's 0.07% expense ratio.
Return for Risk
SHYD vs. MUB — Risk / Return Rank
SHYD
MUB
SHYD vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short High Yield Muni ETF (SHYD) and iShares National AMT-Free Muni Bond ETF (MUB). 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 | MUB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.87 | 0.96 | -0.09 |
Sortino ratioReturn per unit of downside risk | 1.11 | 1.25 | -0.14 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.04 | 1.27 | -0.23 |
Martin ratioReturn relative to average drawdown | 4.06 | 4.07 | -0.01 |
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 | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 0.96 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.20 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | 0.40 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.57 | -0.33 |
Correlation
The correlation between SHYD and MUB is 0.40, 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.
Dividends
SHYD vs. MUB - Dividend Comparison
SHYD's dividend yield for the trailing twelve months is around 3.56%, more than MUB's 3.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYD VanEck Short High Yield Muni ETF | 3.56% | 3.50% | 3.16% | 2.99% | 2.66% | 2.56% | 3.05% | 3.19% | 3.17% | 3.11% | 2.97% | 3.26% |
MUB iShares National AMT-Free Muni Bond ETF | 3.19% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Drawdowns
SHYD vs. MUB - Drawdown Comparison
The maximum SHYD drawdown since its inception was -31.22%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for SHYD and MUB.
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Drawdown Indicators
| SHYD | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.22% | -13.68% | -17.54% |
Max Drawdown (1Y)Largest decline over 1 year | -4.17% | -3.30% | -0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -13.32% | -11.88% | -1.44% |
Max Drawdown (10Y)Largest decline over 10 years | -31.22% | -13.68% | -17.54% |
Current DrawdownCurrent decline from peak | -1.65% | -2.28% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -2.24% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 1.03% | +0.04% |
Volatility
SHYD vs. MUB - Volatility Comparison
The current volatility for VanEck Short High Yield Muni ETF (SHYD) is 1.32%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 1.53%. This indicates that SHYD experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYD | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 1.53% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.91% | 2.03% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.10% | 4.14% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.36% | 4.04% | +1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.70% | 4.91% | +4.79% |