SHYD vs. MUST
Compare and contrast key facts about VanEck Short High Yield Muni ETF (SHYD) and Columbia Multi-Sector Municipal Income ETF (MUST).
SHYD and MUST 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. MUST is a passively managed fund by Ameriprise Financial that tracks the performance of the Bloomberg Beta Advantage Multi-Sector Municipal Bond Index. It was launched on Oct 10, 2018. Both SHYD and MUST 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 MUST.
Key characteristics
| SHYD | MUST | |
|---|---|---|
| YTD Return | 4.93% | 1.14% |
| 1Y Return | 9.54% | 7.53% |
| 3Y Return (Ann) | -0.49% | -0.48% |
| 5Y Return (Ann) | 0.83% | 1.51% |
| Sharpe Ratio | 1.94 | 1.49 |
| Sortino Ratio | 2.87 | 2.19 |
| Omega Ratio | 1.36 | 1.28 |
| Calmar Ratio | 0.75 | 0.79 |
| Martin Ratio | 16.38 | 7.72 |
| Ulcer Index | 0.52% | 0.98% |
| Daily Std Dev | 4.29% | 5.10% |
| Max Drawdown | -31.22% | -13.83% |
| Current Drawdown | -2.94% | -2.68% |
Correlation
The correlation between SHYD and MUST is 0.29, 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. MUST - Performance Comparison
In the year-to-date period, SHYD achieves a 4.93% return, which is significantly higher than MUST's 1.14% 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. MUST - Expense Ratio Comparison
SHYD has a 0.35% expense ratio, which is higher than MUST's 0.23% expense ratio.
Risk-Adjusted Performance
SHYD vs. MUST - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short High Yield Muni ETF (SHYD) and Columbia Multi-Sector Municipal Income ETF (MUST). 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. MUST - Dividend Comparison
SHYD's dividend yield for the trailing twelve months is around 3.10%, more than MUST's 3.03% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
SHYD VanEck Short High Yield Muni ETF | 3.10% | 2.99% | 2.67% | 2.57% | 3.06% | 3.20% | 3.19% | 3.11% | 2.97% | 3.26% | 2.91% |
MUST Columbia Multi-Sector Municipal Income ETF | 3.03% | 2.51% | 1.76% | 1.61% | 2.34% | 2.69% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SHYD vs. MUST - Drawdown Comparison
The maximum SHYD drawdown since its inception was -31.22%, which is greater than MUST's maximum drawdown of -13.83%. Use the drawdown chart below to compare losses from any high point for SHYD and MUST. For additional features, visit the drawdowns tool.
Volatility
SHYD vs. MUST - Volatility Comparison
The current volatility for VanEck Short High Yield Muni ETF (SHYD) is 1.45%, while Columbia Multi-Sector Municipal Income ETF (MUST) has a volatility of 2.14%. This indicates that SHYD experiences smaller price fluctuations and is considered to be less risky than MUST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.