HYD — VanEck High Yield Muni ETF

HYD Price Performance — Growth of $10,000

Value of a $10,000 investment in HYD over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

HYD Drawdown

The "underwater" chart: HYD's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The VanEck High Yield Muni ETF (HYD) operates within the Municipal Bonds category, which currently contains 10 ETFs tracked by ETFValuer. Issued by VanEck, this fund has accumulated assets under management of $4.52 billion and trades at a price of $50.46. It holds an overall rank of #275 out of 458 tracked ETFs across all categories, receiving an ETFValuer grade of C with a score of 58.6 out of 100. The fund charges an expense ratio of 0.32% while offering a dividend yield of 4.24%. The substantial asset size and moderate trading price suggest significant investor adoption relative to the smaller pool of peers in its specific category. These metrics collectively define the fund's current standing as a mid-tier option within the broader ETF landscape.

Recent performance data shows a mixed trajectory starting with a 1-day return of +0.10% followed by a 1-week decline of -0.61%. The 1-month return of -1.56% indicates a short-term downward trend that contrasts with the 3-month return of -0.41%, suggesting a slight stabilization over the quarter. Longer-term horizons display positive momentum, with the 6-month return at +0.71% and the year-to-date return rising to +0.81%. This upward acceleration continues into the annual period, where the 1-year return reached +7.52%. The 3-year return further extends this positive trend to +13.10%, indicating that while short-term fluctuations occurred, the fund has delivered solid gains over extended periods.

HYD carries a volatility label of Very Low, which aligns with a beta of 1.02 relative to its benchmark. The fund generated a Sharpe ratio of 0.63, reflecting the risk-adjusted return profile achieved during the measured period. A maximum drawdown of -6.07% represents the largest peak-to-trough decline experienced by the fund. This combination of a very low volatility label and a beta near 1.00 suggests the fund moves in close correlation with the market but with dampened price swings. The moderate Sharpe ratio and limited maximum drawdown imply that the fund has managed downside risk effectively while capturing returns in both up and down market environments.

AI-generated summary based on the data on this page.

HYD Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 6.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how HYD's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

HYD Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 765K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $4.52B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: HYD is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

HYD Performance History

How HYD Compares to Other Municipal Bonds ETFs