HYD
VanEck High Yield Muni ETF

Price: $62.41
Change: $0.01 (0.0%)
Category: National Munis
Last Updated:

Vitals

Issuer VanEck
Brand VanEck
Structure ETF
Expense Ratio 0.35%
ETF Home Page Home page
Inception Feb 04, 2009

Analyst Report

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.

ETF Database Themes

Category National Munis
Asset Class Bond
Region (General) North America
Region (Specific) U.S.
Bond Type(s) High Yield Munis
Bond Duration Long-Term

FactSet Classifications

  • Segment Fixed Income: U.S. - Government, Local Authority/Municipal High Yield
  • Category Government, Local Authority/Municipal
  • Focus High Yield
  • Niche Broad Maturities
  • Strategy Vanilla
  • Weighting Scheme Tiered

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $58.65
  • 52 Week Hi $63.27
  • AUM $3,647.0 M
  • Shares 58.4 M

Historical Trading Data

  • 1 Month Avg. Volume 593,450
  • 3 Month Avg. Volume 623,822

Alternative ETFs in the ETF Database National Munis Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VTEB 0.06% $14.4 B 1 M 1.09%
Largest (AUM) MUB 0.07% $24.4 B 1 M 1.02%
Most Liquid (Volume) VTEB 0.06% $14.4 B 1 M 1.09%
Top YTD Performer RTAI 1.91% $20.2 M 6,137 9.53%

Alternative ETFs in the FactSet Fixed Income: U.S. - Government, Local Authority/Municipal High Yield Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest HYMB 0.35% $1.9 B 217,017 4.43%
Largest (AUM) HYMB 0.35% $1.9 B 217,017 4.43%
Most Liquid (Volume) HYMB 0.35% $1.9 B 217,017 4.43%
Top YTD Performer HYMB 0.35% $1.9 B 217,017 4.43%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

HYD ETF Database Category Average FactSet Segment Average
Number of Holdings 1878 838 1250
% of Assets in Top 10 7.94% 19.48% 17.73%
% of Assets in Top 15 9.98% 23.52% 22.79%
% of Assets in Top 50 20.79% 40.94% 44.17%

Size Comparison

HYD ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A N/A N/A
Mid (>2.7B) N/A N/A N/A
Small (>600M) N/A N/A N/A
Micro (<600M) N/A N/A N/A

HYD Valuation

This section compares the P/E ratio of this ETF to its peers.

HYD
P/E Ratio
N/A
ETF Database Category Average
P/E Ratio
N/A
FactSet Segment Average
P/E Ratio
N/A

HYD Dividend

This section compares the dividend yield of this ETF to its peers.

HYD ETF Database Category Average FactSet Segment Average
Dividend $ 0.18 $ 0.05 $ 0.14
Dividend Date 2021-11-01 N/A N/A
Annual Dividend Rate $ 2.43 $ 0.62 $ 1.65
Annual Dividend Yield 3.90% 1.58% 2.98%

HYD Price and Volume Charts

View charts featuring HYD price and volume data.

HYD Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: 3.12 M 1 Month Net Flows: 74.62 M 3 Month Net Flows: -253.2 M 6 Month Net Flows: 91.38 M 1 Year Net Flows: 534.1 M 3 Year Net Flows: 1.34 B 5 Year Net Flows: 1.64 B 10 Year Net Flows: 3.45 B

HYD Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

Realtime Rating

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 ETF Database 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 ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A n/a
Expenses C+ n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

HYD Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

HYD
Expense Ratio
0.35%
ETF Database Category Average
Expense Ratio
0.29%
FactSet Segment Average
Expense Ratio
0.35%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Ordinary income
Distributes K1 No
ESG Themes and Scores

HYD does not have an ESG score. There are no ESG themes that map to this ETF.

HYD Performance

This section shows how this ETF has performed relative to its peers.

HYD ETF Database
Category Average
Factset Segment
Average
1 Month Return 0.81% 0.60% 1.09%
3 Month Return -0.85% -0.29% -0.65%
YTD Return 4.44% 1.33% 2.96%
1 Year Return 6.21% 2.03% 4.30%
3 Year Return 15.76% 9.26% 12.15%
5 Year Return 32.52% 8.23% 21.43%

Geographic Exposure

The following charts reflect the geographic spread of HYD's underlying holdings.

Holdings Analysis

The following charts reflect the allocation of HYD's underlying holdings.

Asset Percentage
Municipal 99.02%
Sovereign 0.49%
Other 0.31%
CASH 0.18%
Bond Sector Percentage
Maturity Percentage
Less Than 1 Year 0.0%
1-3 Years 0.0%
3-5 Years 0.0%
5-7 Years 0.0%
7-10 Years 0.0%
10-15 Years 0.0%
15-20 Years 0.0%
20-30 Years 0.0%
30+ Years 0.0%
Asset Percentage
Municipal 99.02%
Sovereign 0.49%
Other 0.31%
CASH 0.18%

HYD Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility
259.45%
Rank
1 of 49

20 Day Volatility
2.41%
Rank
9 of 49

50 Day Volatility
2.51%
Rank
9 of 49

200 Day Volatility
2.14%
Rank
9 of 49

Beta
0.34
Rank
1 of 49

Standard Deviation
1.16%
Rank
2 of 47

Technicals

  • 20 Day MA $62.26
  • 60 Day MA $62.20
  • MACD 15 Period 0.08
  • MACD 100 Period -0.13
  • Williams % Range 10 Day 35.71
  • Williams % Range 20 Day 20.27
  • RSI 10 Day 65
  • RSI 20 Day 58
  • RSI 30 Day 55
  • Ultimate Oscillator 37

Bollinger Bands

  • Lower Bollinger (10 Day) $62.20
  • Upper Bollinger (10 Day) $62.45
  • Lower Bollinger (20 Day) $61.96
  • Upper Bollinger (20 Day) $62.57
  • Lower Bollinger (30 Day) $61.51
  • Upper Bollinger (30 Day) $62.67

Support & Resistance

  • Support Level 1 $62.34
  • Support Level 2 $62.27
  • Resistance Level 1 $62.52
  • Resistance Level 2 $62.63

Stochastic

  • Stochastic Oscillator %D (1 Day) 40.92
  • Stochastic Oscillator %D (5 Day) 63.79
  • Stochastic Oscillator %K (1 Day) 39.71
  • Stochastic Oscillator %K (5 Day) 59.85

Tradability

  • Tracking Difference Median (%) -2.05
  • Tracking Difference Max Upside (%) -0.91
  • Tracking Difference Max Downside (%) -5.22
  • Median Premium Discount (%) 0.06
  • Maximum Premium Discount (%) 0.50
  • Average Spread (%) 1.04
  • Average Spread ($) 1.04

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Data Lineage

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

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Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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