SHYM vs. HYD
Compare and contrast key facts about iShares Short Duration High Yield Muni Active ETF (SHYM) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
SHYM and HYD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHYM is an actively managed fund by iShares. It was launched on Mar 16, 2021. HYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. It was launched on Feb 4, 2009.
Performance
SHYM vs. HYD - Performance Comparison
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SHYM vs. HYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 0.29% | 2.58% | 6.99% | 9.67% | -15.96% | 6.71% |
HYD VanEck Vectors High-Yield Municipal Index ETF | -0.34% | 2.83% | 4.94% | 6.52% | -15.97% | 4.53% |
Returns By Period
In the year-to-date period, SHYM achieves a 0.29% return, which is significantly higher than HYD's -0.34% return.
SHYM
- 1D
- 0.50%
- 1M
- -1.14%
- YTD
- 0.29%
- 6M
- 1.40%
- 1Y
- 1.57%
- 3Y*
- 5.45%
- 5Y*
- 1.45%
- 10Y*
- —
HYD
- 1D
- 0.90%
- 1M
- -1.26%
- YTD
- -0.34%
- 6M
- 1.38%
- 1Y
- 2.70%
- 3Y*
- 3.60%
- 5Y*
- -0.11%
- 10Y*
- 2.06%
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SHYM vs. HYD - Expense Ratio Comparison
Both SHYM and HYD have an expense ratio of 0.35%.
Return for Risk
SHYM vs. HYD — Risk / Return Rank
SHYM
HYD
SHYM vs. HYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration High Yield Muni Active ETF (SHYM) and VanEck Vectors High-Yield Municipal Index ETF (HYD). 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.
| SHYM | HYD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.20 | 0.46 | -0.26 |
Sortino ratioReturn per unit of downside risk | 0.30 | 0.59 | -0.30 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.11 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.31 | 0.73 | -0.42 |
Martin ratioReturn relative to average drawdown | 1.53 | 1.76 | -0.22 |
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
| SHYM | HYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.20 | 0.46 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | -0.02 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.44 | -0.21 |
Correlation
The correlation between SHYM and HYD is 0.68, 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
SHYM vs. HYD - Dividend Comparison
SHYM's dividend yield for the trailing twelve months is around 4.51%, more than HYD's 4.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 4.51% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.38% | 4.29% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 4.43% | 4.29% | 4.58% | 4.82% |
Drawdowns
SHYM vs. HYD - Drawdown Comparison
The maximum SHYM drawdown since its inception was -22.55%, smaller than the maximum HYD drawdown of -35.61%. Use the drawdown chart below to compare losses from any high point for SHYM and HYD.
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Drawdown Indicators
| SHYM | HYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.55% | -35.61% | +13.06% |
Max Drawdown (1Y)Largest decline over 1 year | -6.54% | -4.42% | -2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | -20.72% | -1.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.61% | — |
Current DrawdownCurrent decline from peak | -1.39% | -4.40% | +3.01% |
Average DrawdownAverage peak-to-trough decline | -6.97% | -4.34% | -2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 1.83% | -0.46% |
Volatility
SHYM vs. HYD - Volatility Comparison
The current volatility for iShares Short Duration High Yield Muni Active ETF (SHYM) is 1.29%, while VanEck Vectors High-Yield Municipal Index ETF (HYD) has a volatility of 2.22%. This indicates that SHYM experiences smaller price fluctuations and is considered to be less risky than HYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYM | HYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 2.22% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | 2.83% | -1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.95% | 5.90% | +2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.08% | 6.44% | +0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.05% | 12.60% | -5.55% |