ITM — VanEck Intermediate Muni ETF
Municipal Bonds Ranked #337 of 458 tracked ETFs · Issued by VanEck
ITM Price Performance — Growth of $10,000
Value of a $10,000 investment in ITM 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.
ITM Drawdown
The "underwater" chart: ITM'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.
What If You'd Invested in ITM?
See what a lump sum in ITM would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The VanEck Intermediate Muni ETF, trading under the ticker ITM, operates within the Municipal Bonds category managed by issuer VanEck. With assets under management totaling $2.19 billion and a share price of $46.06, the fund represents a significant presence among the 10 ETFs tracked in its specific category. It currently holds an overall rank of #337 out of 458 tracked ETFs across all categories, receiving an ETFValuer grade of C with a score of 54.1 out of 100. The fund offers an expense ratio of 0.18% while providing a dividend yield of 2.92% to investors. These metrics suggest a moderate level of investor adoption relative to its peers, balancing cost efficiency with income generation. The fund's position in the broader market reflects a middle-tier performance profile compared to the total universe of tracked funds.
Recent price action shows a daily gain of +0.13% following a weekly decline of -0.63%, while the one-month return stands at -1.72%. Over the longer term, the fund has recorded a three-month return of -1.20% and a six-month return of -1.08%, with year-to-date performance at -0.90%. Despite these short-term negative trends, the fund posted a one-year return of +4.67% and a three-year return of +9.31%. This pattern indicates a divergence where short-term periods have been negative while the one-year and three-year horizons remain positive. The data suggests a recovery or acceleration in returns over the annual and multi-year periods compared to the more recent monthly declines.
The fund carries a volatility label of Very Low and a beta of 0.97, indicating price movements that are generally less volatile than the broader market. A Sharpe ratio of -0.11 suggests that the risk-adjusted returns have been negative over the measured period, implying that the returns did not adequately compensate for the volatility taken. The maximum drawdown of -5.25% highlights the largest peak-to-trough decline experienced by the fund. This combination of a low beta and very low volatility label with a negative Sharpe ratio and a defined maximum drawdown points to a fund that moves cautiously but has struggled to generate positive risk-adjusted gains during the observed timeframe.
AI-generated summary based on the data on this page.
ITM Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | New Jersey Educational Facilities Authority | 0.53% | $12M |
| 2 | California Community Choice Financing Authority | 0.50% | $11M |
| 3 | State of California | 0.44% | $10M |
| 4 | California Community Choice Financing Authority | 0.44% | $10M |
| 5 | Connecticut State Health & Educational Facilities Authority | 0.39% | $8M |
| 6 | California Community Choice Financing Authority | 0.37% | $8M |
| 7 | State of California | 0.30% | $7M |
| 8 | New York City Municipal Water Finance Authority | 0.29% | $6M |
| 9 | California Housing Finance Agency | 0.28% | $6M |
| 10 | Southeast Energy Authority A Cooperative District | 0.27% | $6M |
Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 3.8% 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 ITM's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With ITM
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with ITM's top 10 — TFI overlaps most, holding 2 of the same companies as ITM's top 10 (1.0% of ITM's assets).
| ETF | Name | Shared Companies | ITM Weight | Examples |
|---|---|---|---|---|
| TFI | State Street SPDR Nuveen ICE Municipal Bond ETF | 2 | 1.0% | State of California, New York City Municipal Water Finance Authority |
| SHM | State Street SPDR Nuveen ICE Short Term Municipal Bond ETF | 2 | 1.0% | State of California, Southeast Energy Authority A Cooperative District |
| VTEB | Vanguard Tax-Exempt Bond Index Fund ETF Shares | 1 | 0.7% | State of California |
| SUB | iShares Short-Term National Muni Bond ETF | 1 | 0.7% | State of California |
| SMB | VanEck Short Muni ETF | 1 | 0.7% | State of California |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
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.
What ITM's Fees Cost You
ITM charges an expense ratio of 0.18% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
ITM Dividend Income Estimator
ITM currently yields 2.92%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
ITM Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is — and average daily volume is 229K/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 $2.19B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: ITM 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.
ITM Performance History
| Period | Return |
|---|---|
| 1-Day | +0.13% |
| 1-Week | -0.63% |
| 1-Month | -1.72% |
| 3-Month | -1.20% |
| 6-Month | -1.08% |
| YTD | -0.90% |
| 1-Year | +4.67% |
| 3-Year | +9.31% |
How ITM Compares to Other Municipal Bonds ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #182 | C |
VTEB | Vanguard Tax-Exempt Bond Index Fund ETF Shares | +6.02% | 0.03% | $48.8B |
| #200 | C |
MUB | iShares National Muni Bond ETF | +5.61% | 0.05% | $45.8B |
| #238 | C |
PZA | Invesco National AMT-Free Municipal Bond ETF | +8.53% | 0.28% | $4.29B |
| #275 | C |
HYD | VanEck High Yield Muni ETF | +7.52% | 0.32% | $4.52B |
| #327 | C |
TFI | State Street SPDR Nuveen ICE Municipal Bond ETF | +5.41% | 0.23% | $3.12B |
| #335 | C |
MMIT | NYLI MacKay Muni Intermediate ETF | +5.26% | 0.3% | $1.47B |
| #337 | C |
ITM | VanEck Intermediate Muni ETF | +4.67% | 0.18% | $2.19B |
| #359 | C |
SUB | iShares Short-Term National Muni Bond ETF | +2.03% | 0.07% | $11.4B |
| #382 | D |
SHM | State Street SPDR Nuveen ICE Short Term Municipal Bond ETF | +2.03% | 0.2% | $3.47B |
| #390 | D |
SMB | VanEck Short Muni ETF | +2.68% | 0.07% | $314M |