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HYD
VanEck High Yield Muni ETF

Fund Description

The VanEck High Yield Muni ETF (HYD®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index (LMEHTR), which is intended to track the overall performance of the U.S. dollar denominated high yield long-term tax-exempt bond market.

 
 

  • Fund Ticker

    HYD
  • Exchange

    Cboe
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    LMEHTR
  • Index Rebalancing

    Monthly
  • 2021 Preliminary NAIC
    Designation7

    4.C

 
as of 09/22/21

  • 30-Day SEC Yield1

    2.28%
  • Total Net Assets

    $3.9B
  • Number of Holdings

    1969
  • Options

    Available
  • Gross Expense Ratio2

    0.35%
  • Net Expense Ratio/TER2

    0.35%
  • Distribution Frequency

    Monthly

1, 2, 7 See Important Disclosure

Why Invest?

Geographical Weightings (%) as of 08/31/21

  • State

    % of Net Assets
  • California

    14.4
  • Illinois

    11.6
  • New York

    8.5
  • New Jersey

    8.0
  • Florida

    5.5
  • Ohio

    4.8
  • Texas

    4.7
  • Pennsylvania

    4.0
  • Puerto Rico

    3.9
  • Colorado

    3.6
  • Wisconsin

    2.7
  • Arizona

    2.6
  • Washington

    2.0
  • Alabama

    1.6
  • Virginia

    1.5
  • Maryland

    1.4
  • Michigan

    1.3
  • Georgia

    1.3
  • Iowa

    1.2
  • Missouri

    1.1
  • Other

    14.4

Portfolio Composition (%)
as of 08/31/21

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.91
  • Other

    0.00
  • Cash

    0.09

Currency Exposure (%)
as of 08/31/21

  • U.S. Dollar

    99.91
  • Other/Cash

    0.09

Credit Quality (%) as of 08/31/21

Composite % of Net Assets
Investment Grade AAA 0.09
A 0.59
BBB 24.91
Non-Investment Grade BB 20.28
B 6.87
CCC 3.75
Total Investment Grade -- 25.60
Total Non-Investment Grade -- 30.90
Not Rated -- 43.42
Source: Barclays.  Rating is a proprietary composite of various rating agencies.

3-YR Risk Measures*
as of 08/31/21

  • Beta vs. S&P 500 Index

    0.14
  • Correlation vs. S&P 500 Index

    0.30
  • Volatility (Standard Deviation)

    8.36
  • Sharpe Ratio

    0.38

Source: VanEck, FactSet

*Beta is a measure of sensitivity to market movements. Correlation measures the extent of linear association between the ETF performance and the index performance. Volatility is the annualized standard deviation of the ETF's monthly returns. Sharpe ratio measures risk-adjusted return, and represents the ETF's return less the risk free rate divided by the standard deviation. See S&P 500 Index definition.6

Sector Weightings (%) as of 08/31/21

  • Sector

    % of Net Assets
  • Health Care

    18.7
  • Industrial Revenue

    15.6
  • Special Tax

    11.8
  • Education

    10.2
  • Tobacco

    9.7
  • Transportation

    8.3
  • Leasing

    7.8
  • Local

    7.7
  • Housing

    4.9
  • State

    3.1
  • Water & Sewer

    1.7
  • Power

    0.4
  • Cash

    0.1
  • Solid Waste/Res Recovery

    0.0
  • Unassigned

    0.0

Maturity (%) as of 08/31/21

 Average Portfolio Maturity: 21.22 Years