SHYD
VanEck Short High Yield Muni ETF
SHYD
VanEck Short High Yield Muni ETF
-
NAV$21.90
as of September 22, 2023 -
YTD RETURNS0.64%
as of September 22, 2023 -
Total Net Assets$369.10M
as of September 22, 2023 -
Total Expense Ratio0.35%
-
Inception Date01/13/2014
-
30-Day SEC Yield4.03%
Fund Description
The VanEck Short High Yield Muni ETF (SHYD®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of ICE 1-12 Year Broad High Yield Crossover Municipal Index (MIHX), which is intended to track the overall performance of the U.S. dollar denominated high yield short-term tax-exempt bond market.
Overview
Fund Highlights
- High Yield, Shorter Duration Focus
Index comprises highest yielding municipal bonds with maturities of 1-12 years, which potentially provides lower sensitivity to interest rates than all maturity high yield municipal bond funds
- Enhanced Liquidity Feature
Index includes 20% BBB and 10% A investment-grade exposure as well as a 25% cap on non-rated bonds for added liquidity
- Diverse Sector Exposure and Low Default Rates
Index covers wide range of muni sectors and securities with historically low default rates*
* Source: Moody’s Investors Services; "U.S. Municipal Bond Defaults and Recoveries, 1970-2018"
Recommended Insights
Slowing Economy: 3 Reasons Municipal Bonds Make Sense
Slowing Economy: 3 Reasons Municipal Bonds Make Sense