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HYD
VanEck Vectors High-Yield Municipal Index ETF

Fund Description

The VanEck Vectors® High-Yield Municipal Index 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.

Why Munis?

 
 

  • 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
  • 2020 Preliminary NAIC
    Designation7

    4

 
as of 08/12/20

  • 30-Day SEC Yield1

    3.77%
  • Total Net Assets

    $3.0B
  • Number of Holdings

    1906
  • Options

    Available
  • Gross Expense Ratio2

    0.35%
  • Net Expense Ratio/TER2

    0.35%
  • Distribution Frequency

    Monthly

1, 2, 7 See Important Disclosure

Geographical Weightings (%) as of 07/31/20

  • State

    % of Net Assets
  • Illinois

    13.6
  • California

    12.0
  • New York

    8.2
  • New Jersey

    7.8
  • Texas

    5.4
  • Ohio

    5.3
  • Florida

    4.6
  • Puerto Rico

    4.0
  • Pennsylvania

    3.4
  • Colorado

    3.3
  • Wisconsin

    3.0
  • Arizona

    2.3
  • Virginia

    2.0
  • Alabama

    1.9
  • Iowa

    1.5
  • Maryland

    1.3
  • Oklahoma

    1.1
  • Virgin Islands

    1.1
  • Massachusetts

    1.1
  • Tennessee

    1.1
  • Other

    16.1

Portfolio Composition (%)
as of 07/31/20

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.75
  • Other

    0.00
  • Cash

    0.25

Currency Exposure (%)
as of 07/31/20

  • U.S. Dollar

    99.75
  • Other/Cash

    0.25

Credit Quality (%) as of 07/31/20

Composite % of Net Assets
Investment Grade BBB 26.34
Non-Investment Grade BB 21.55
B 8.51
CCC 4.28
Total Investment Grade -- 26.34
Total Non-Investment Grade -- 34.35
Not Rated -- 39.06
Source: Barclays.  Rating is a proprietary composite of various rating agencies.

3-YR Risk Measures*
as of 07/31/20

  • Beta vs. S&P 500 Index

    0.13
  • Correlation vs. S&P 500 Index

    0.26
  • Volatility (Standard Deviation)

    8.06
  • Sharpe Ratio

    0.12

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 07/31/20

  • Sector

    % of Net Assets
  • Health Care

    20.7
  • Industrial Revenue

    16.8
  • Special Tax

    11.2
  • Tobacco

    10.8
  • Education

    10.0
  • Local

    8.2
  • Transportation

    7.4
  • Leasing

    6.7
  • State

    3.7
  • Water & Sewer

    2.4
  • Housing

    1.3
  • Power

    0.5
  • Cash

    0.2
  • Solid Waste/Res Recovery

    0.1
  • Unassigned

    0.0

Maturity (%) as of 07/31/20

 Average Portfolio Maturity: 20.57 Years