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SHYD Market Vectors Short High-Yield Municipal Index ETF

  • Fund Description

    The VanEck Vectors Short High-Yield Municipal Index ETF (SHYD®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays Municipal High Yield Short Duration Index (BMHYTR), which is intended to track the overall performance of the U.S. dollar denominated high yield short-term tax-exempt bond.

  •  
      

    • Fund Ticker

      SHYD
    • Exchange

      NYSE Arca
    • Commencement

      01/13/2014
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      BMHYTR
    • Index Rebalancing

      Monthly
  •  
    as of 08/25/16

    • 30-Day SEC Yield1

      2.60%
    • Total Net Assets

      $135.5M
    • Number of Holdings

      365
    • Options

      Expected
    • Gross Expense Ratio2

      0.35%
    • Net Expense Ratio/TER2

      0.35%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      08/31/2016
  • Index Key Points

    The Bloomberg Barclays Municipal High Yield Short Duration Index (BMHYTR) comprises:

    More than 1,500 bonds drawn primarily from revenue sector, but also from general obligation sector.

    Issues eligible for inclusion in Index:

    • Outstanding par value of at least $3 million for non-investment grade and $7 million for investment grade.
    • Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa and the Northern Mariana Islands, each individually capped form exceeding 8%.
    • Targeted 65% weight in noninvestment grade municipal bonds, a targeted 25% weight in triple-B rated investment grade municipal bonds and a targeted 10% weight in single-A rated investment grade municipal bonds.
    • Nominal maturity of 1 to 12 years.

    Index Provider: Bloomberg Index Services Limited

    Inception Date:  01/14/2013 

  • Index Profile

    • Ticker

      BMHYTR
    • Inception Date

      01/14/2013
    • Rebalance Frequency

      Monthly
  • Index Fundamentals4
    as of 08/25/16

    • Yield to Worst

      3.63%
    • Yield to Maturity

      4.09%
    • Effective Duration (yrs)

      3.78
    • Duration to Worst (yrs)

      3.49
    • Modified Duration (yrs)

      3.69
    • Spread Duration (yrs)

      3.53
    • Years to Maturity

      8.57
    • Coupon

      5.04%
    • AMT

      13.43%
     4 See Important Disclosure for definitions.
  • Top 10 Constituents (%) as of 07/31/16

    Total Constituents: 8890
    Issuer Name
    StateWeighting (%)
    Iowa Fin Auth Midwestern Disaster Area Rev
    IA
    4.51
    Illinois St For Issues Dtd Prior To 01/16/2010 See 4521
    IL
    4.42
    Buckeye Ohio Tob Settlement Fing Auth
    OH
    3.03
    Puerto Rico Indl Tourist Edl Med & Environmentalctl Fac
    PR
    2.28
    Chicago Ill Brd Ed For Issues Dtd Prior To 09/05/07 See
    IL
    2.21
    New York Transn Dev Corp Spl Fac Rev
    NY
    2.15
    Tobacco Settlement Fing Corp N J
    NJ
    2.05
    Golden St Tob Securitization Corp Calif Tob Settlement
    CA
    1.89
    Chicago Ill
    IL
    1.82
    Philadelphia Pa Sch Dist
    PA
    1.77
    Top 10 Total (%)26.13
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Index Geographical Weightings (%) as of 07/31/16

    • State

      % of Net Assets
    • Illinois

      12.9
    • California

      11.4
    • New York

      7.5
    • Texas

      7.2
    • New Jersey

      7.2
    • Pennsylvania

      6.8
    • Puerto Rico

      5.2
    • Ohio

      5.0
    • Iowa

      4.7
    • Florida

      3.4
    • Michigan

      2.2
    • Maryland

      2.0
    • Indiana

      1.9
    • Colorado

      1.7
    • Alabama

      1.6
    • Arizona

      1.4
    • Louisiana

      1.4
    • Georgia

      1.3
    • Virginia

      1.3
    • Missouri

      0.9
  • Index Sector Weightings (%) as of 07/31/16

    • Sector

      % of Net Assets
    • IDR/PCR

      34.3
    • Health Care Facilities

      15.1
    • Special Tax

      10.2
    • Local General

      8.7
    • Transportation

      8.0
    • State General

      7.2
    • Education

      5.1
    • Power Utilities

      4.6
    • Leasing

      4.5
    • Water Utilities

      1.2
    • Housing

      0.9
    • Resource Recovery

      0.2
  • Index Credit Quality (%) as of 07/31/16

    Composite % of Net Assets
    Investment Grade AAA 1.23
    AA 0.12
    A 10.91
    BBB 23.98
    Non-Investment Grade BB 17.49
    B 17.03
    CCC 3.84
    CC 1.14
    C 0.45
    D 3.03
    Total Investment Grade -- 36.24
    Total Non-Investment Grade -- 42.97
    Not Rated -- 20.80
    Barclays Composite Rating: A blend of a security's Moody's, S&P, and Fitch ratings. If all three agencies rate the security, the middle rating is taken. If only two agencies rate a security, the lower rating is taken. If only one agency rates a security, that rating is used. Not rated indicates that a security is rated by fewer than one of the three rating agencies. This composite is not intended to be a credit opinion.
  • Maturity (%) as of 07/31/16

    Average Portfolio Maturity: 7.00 Years