XMPT vs. HYD
XMPT (VanEck CEF Municipal Income ETF) and HYD (VanEck High Yield Muni ETF) are both exchange-traded funds - XMPT is a High Yield Muni fund tracking the S-Network Municipal Bond Closed-End Fund Index, while HYD is a Municipal Bonds fund tracking the ICE Broad High Yield Crossover Municipal Index. Both are passively managed. Over the past 10 years, XMPT returned 2.14%/yr vs 1.84%/yr for HYD. At a 0.40 correlation, their price movements are largely independent. XMPT charges 1.97%/yr vs 0.35%/yr for HYD.
Performance
XMPT vs. HYD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XMPT achieves a 4.43% return, which is significantly higher than HYD's 2.30% return. Over the past 10 years, XMPT has outperformed HYD with an annualized return of 2.14%, while HYD has yielded a comparatively lower 1.84% annualized return.
XMPT
- 1D
- 0.05%
- 1M
- 1.12%
- 6M
- 3.25%
- YTD
- 4.43%
- 1Y
- 12.67%
- 3Y*
- 7.14%
- 5Y*
- -1.31%
- 10Y*
- 2.14%
HYD
- 1D
- -0.20%
- 1M
- -0.01%
- 6M
- 1.92%
- YTD
- 2.30%
- 1Y
- 7.62%
- 3Y*
- 4.26%
- 5Y*
- -0.33%
- 10Y*
- 1.84%
XMPT vs. HYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMPT VanEck CEF Municipal Income ETF | 4.43% | 8.01% | 7.01% | 2.55% | -24.02% | 7.94% | 7.70% | 20.36% | -5.85% | 8.28% |
HYD VanEck High Yield Muni ETF | 2.30% | 2.83% | 4.94% | 6.52% | -15.97% | 5.05% | 0.17% | 9.34% | 2.19% | 9.78% |
Correlation
The correlation between XMPT and HYD is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2011 | 0.40 |
The correlation between XMPT and HYD shifts across timeframes, from 0.40 (all time) to 0.58 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XMPT vs. HYD — Risk / Return Rank
XMPT
HYD
XMPT vs. HYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck CEF Municipal Income ETF (XMPT) and VanEck High Yield Muni 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XMPT | HYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.40 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 2.39 | -0.45 |
| Martin ratioReturn relative to average drawdown | 8.07 | 10.76 | -2.69 |
Loading charts...
Drawdowns
XMPT vs. HYD - Drawdown Comparison
The maximum XMPT drawdown since its inception was -35.24%, roughly equal to the maximum HYD drawdown of -35.61%. Use the drawdown chart below to compare losses from any high point for XMPT and HYD.
Loading charts...
Drawdown Indicators
| XMPT | HYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.24% | -35.61% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -6.57% | -3.21% | -3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -15.04% | -7.23% | -7.81% |
Max Drawdown (5Y)Largest decline over 5 years | -35.24% | -20.72% | -14.52% |
Max Drawdown (10Y)Largest decline over 10 years | -35.24% | -35.61% | +0.37% |
Current DrawdownCurrent decline from peak | -7.08% | -1.87% | -5.21% |
Average DrawdownAverage peak-to-trough decline | -8.81% | -4.31% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 0.74% | +0.83% |
Volatility
XMPT vs. HYD - Volatility Comparison
VanEck CEF Municipal Income ETF (XMPT) has a higher volatility of 1.66% compared to VanEck High Yield Muni ETF (HYD) at 1.07%. This indicates that XMPT's price experiences larger fluctuations and is considered to be riskier than HYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XMPT | HYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.07% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 3.14% | +2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.34% | 3.98% | +3.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.38% | 6.47% | +2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.34% | 12.61% | -2.27% |
XMPT vs. HYD - Expense Ratio Comparison
XMPT has a 1.97% expense ratio, which is higher than HYD's 0.35% expense ratio.
Dividends
XMPT vs. HYD - Dividend Comparison
XMPT's dividend yield for the trailing twelve months is around 6.25%, more than HYD's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYD VanEck High Yield Muni ETF | 4.32% | 4.29% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 4.43% | 4.29% | 4.58% | 4.82% |
XMPT VanEck CEF Municipal Income ETF | 6.25% | 5.87% | 5.35% | 3.81% | 5.12% | 3.74% | 3.79% | 4.08% | 5.05% | 4.84% | 5.35% | 5.24% |
Frequently Asked Questions
XMPT and HYD have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XMPT has higher volatility (1.66%) compared to HYD (1.07%). In terms of maximum drawdown, XMPT dropped -35.24% vs HYD's -35.61%.
On 10-year performance, XMPT leads with 2.14% vs 1.84% for HYD. On fees, HYD is cheaper at 0.35% per year. On volatility, HYD has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XMPT has performed better with a 2.14% return vs 1.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYD is cheaper with a 0.35% expense ratio, compared with 1.97% for XMPT.
XMPT has the higher dividend yield at 6.25%, compared with 4.32% for HYD.
XMPT is categorized as High Yield Muni, while HYD is Municipal Bonds. XMPT tracks S-Network Municipal Bond Closed-End Fund Index, while HYD tracks ICE Broad High Yield Crossover Municipal Index. Their fees differ too: 1.97% for XMPT and 0.35% for HYD.
HYD currently has the higher Sharpe Ratio (1.93 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.
Find the right allocation for XMPT and HYD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer