This fund tracks an index of municipal bonds, a slice of the bond market that is highly coveted due to its tax features. These bonds are generally free from federal taxes and in some cases, state and local income taxes as well making these funds crucial components of portfolios for those in high tax brackets. Muni bonds are used by local entities to pay for a variety of services or to make improvements to infrastructure paying for everything from new sewer systems to school renovations and bridge construction as such, they are relatively low risk instruments. With that being said, HYD targets bonds that are rated below investment grade and thus contains issues that have a much higher chance of default. Due to this, HYD pays out a yield that is far superior to any other funds in the category including MLN which targets long-dated issues. The fund also offers solid levels of diversification although not as much as other products in the segment; it holds about 100 securities in total with just 21% of assets going to the top ten holdings. Due to its reasonable level of diversification and its ultra high yield, HYD could be a decent choice for investors seeking additional current income and are willing to add more risk to their portfolios. Just make sure to use HYD sparingly and do not allocate all of your muni bond holdings to this somewhat risky fund.
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This section compares how balanced and deep this ETF is relative to the peer group ETFdb.com Category.
This section shows how the P/E multiple of this ETF compares to the peer group ETFdb.com Category.
This section shows how the dividend yield of this ETF compares to the peer group ETFdb.com Category.
View charts featuring ETF fund flow data.5 Day Net Flows: 19 M 1 Month Net Flows: 249.12 M 3 Month Net Flows: 451.45 M 6 Month Net Flows: 639.28 M 1 Year Net Flows: 860.72 M 3 Year Net Flows: 1.24 B 5 Year Net Flows: 1.9 B 10 Year Net Flows: 3.63 B
The adjacent table gives investors an individual Realtime Rating for HYD on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the National Munis with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.
This section shows how this ETF has performed relative to its peer group ETFdb.com Category.
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This section shows how the volatility of this ETF compares to the peer group ETFdb.com Category.
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