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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SHYD or MUB.
Key characteristics
| SHYD | MUB | |
|---|---|---|
| YTD Return | 5.02% | 1.61% |
| 1Y Return | 8.61% | 7.20% |
| 3Y Return (Ann) | -0.45% | -0.14% |
| 5Y Return (Ann) | 0.91% | 1.29% |
| 10Y Return (Ann) | 1.85% | 2.19% |
| Sharpe Ratio | 1.79 | 1.68 |
| Sortino Ratio | 2.64 | 2.46 |
| Omega Ratio | 1.33 | 1.33 |
| Calmar Ratio | 0.70 | 0.86 |
| Martin Ratio | 15.21 | 7.31 |
| Ulcer Index | 0.52% | 0.92% |
| Daily Std Dev | 4.44% | 4.01% |
| Max Drawdown | -31.22% | -13.68% |
| Current Drawdown | -2.85% | -1.17% |
Correlation
The correlation between SHYD and MUB is 0.39, 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.
Performance
SHYD vs. MUB - Performance Comparison
In the year-to-date period, SHYD achieves a 5.02% return, which is significantly higher than MUB's 1.61% return. Over the past 10 years, SHYD has underperformed MUB with an annualized return of 1.85%, while MUB has yielded a comparatively higher 2.19% 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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SHYD vs. MUB - Expense Ratio Comparison
SHYD has a 0.35% expense ratio, which is higher than MUB's 0.07% expense ratio.
Risk-Adjusted Performance
SHYD vs. MUB - Risk-Adjusted Performance 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.
Dividends
SHYD vs. MUB - Dividend Comparison
SHYD's dividend yield for the trailing twelve months is around 3.09%, more than MUB's 2.95% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYD VanEck Short High Yield Muni ETF | 3.09% | 2.99% | 2.67% | 2.57% | 3.06% | 3.20% | 3.19% | 3.11% | 2.97% | 3.26% | 2.91% | 0.00% |
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% |
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. For additional features, visit the drawdowns tool.
Volatility
SHYD vs. MUB - Volatility Comparison
The current volatility for VanEck Short High Yield Muni ETF (SHYD) is 1.45%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 1.96%. 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.