ETF Evaluator:
VanEck Intermediate Muni ETF (ITM)
Follow This ETF
(as of Jul 31)
Best Performing in Muni National Interm Over the Last Year
| 8.2% | X-Square Municipal Income Tax Free ETF (ZTAX) |
| 7.6% | PIMCO Muncpl Income Oppos Act Ex-Trd (MINO) |
| 7.5% | Eaton Vance Intermediate Muncpl Inc ETF (EVIM) |
| 7.4% | American Century Divers Muncpl Bd ETF (TAXF) |
| 7.4% | BNY Mellon Municipal Opportunities ETF (BMOP) |
Risk
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Risk
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ETF Details
VanEck Intermediate Muni ETF Overview
VanEck Intermediate Muni ETF (ITM) is a passively managed Municipal Bond Muni National Interm exchange-traded fund (ETF). VanEck launched the ETF in 2007.
The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Intermediate AMT-Free Broad National Municipal Index.
The fund normally invests at least 80% of its total assets in fixed income securities that comprise the index. The index is comprised of publicly traded municipal bonds that cover the U.S. dollar denominated intermediate term tax-exempt bond market.
About VanEck Intermediate Muni ETF (ITM)
There are 1 members of the management team with an average tenure of 3.58 years: Stephanie Wang (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: ICE US Broad Municipal TR LOC index with a weighting of 100% and ICE Interm AMT-Free Brd Nat Muni TR USD index with a weighting of 100%. VanEck Intermediate Muni ETF has 1381 securities in its portfolio. The top 10 holdings constitute 3.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
VanEck Intermediate Muni ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. VanEck Intermediate Muni ETF has 0.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.3% (99.2% domestic bond, 0.1% foreign bond and 0.0% convertible bond). VanEck Intermediate Muni ETF has 0.7% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is below the $2 billion average for the Muni National Interm category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ITM Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The VanEck Intermediate Muni ETF expense ratio is low compared to funds in the Muni National Interm category. VanEck Intermediate Muni ETF has an expense ratio of 0.18%, which is 37% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. VanEck Intermediate Muni ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 42% for the Muni National Interm category.
Recently, in the month of June 2026, VanEck Intermediate Muni ETF returned 0.5%, which earned it a grade of F, as the Muni National Interm category had an average return of 0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
VanEck Intermediate Muni ETF has a trailing yield of 2.92%, which is below the 3.44% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
VanEck Intermediate Muni ETF Grades
Year to date, the ETF has returned 1.3%, 0.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 6.3% over the past year (grade of D), 3.5% over the past three years (grade of D) and 0.5% per year over the past five years (grade of F) and 1.8% per year over the past 10 years (grade of F).
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ITM Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ITM Return (NAV) | 0.5% | 1.9% | 6.3% | 3.5% | 0.5% | 1.8% |
| ITM Return (Price) | 0.3% | 2.0% | 6.4% | 3.5% | 0.5% | 1.8% |
| NAV +/- Price Return | 0.171% | -0.044% | -0.137% | 0.031% | 0.023% | 0.015% |
| Muni National Interm Avg | 0.7% | 2.2% | 6.4% | 4.0% | 1.1% | 2.1% |
| ITM Grade (NAV) | F | D | D | D | F | F |
| +/- Category (NAV) | -0.2% | -0.3% | -0.1% | -0.4% | -0.6% | -0.3% |
| ITM Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
ITM Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ITM Return (NAV) | 1.3% | 5.3% | 0.6% | 5.7% | -9.7% | 0.6% | 5.7% | 8.4% | 0.6% | 6.2% | -0.6% |
| ITM Return (Price) | 0.9% | 5.3% | 0.7% | 5.7% | -9.3% | 0.2% | 5.9% | 8.3% | 1.0% | 6.1% | -1.1% |
| NAV +/- Price Ret | -0.321% | 0.002% | 0.280% | 0.007% | -0.033% | -0.654% | 0.039% | -0.3% | 49.8% | -1.3% | 96.2% |
| Muni National Interm Avg | 2.0% | 4.7% | 2.0% | 6.1% | -8.1% | 1.6% | 5.0% | 7.7% | 1.2% | 5.2% | 0.1% |
| ITM Grade (NAV) | F | B | F | D | F | F | A | B | F | A | F |
| +/- Category | -0.7% | 0.6% | -1.4% | -0.4% | -1.5% | -1.0% | 0.7% | 0.7% | -0.6% | 1.0% | -0.6% |
| Risk Measures | |
| Beta: | 0.97 |
| R-Squared: | 98% |
| Standard Deviation: | 5.5% |
| Category Risk Index: | 1.13 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.45 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 2.9% |
| Total Assets: | $ 2,190 Mil |
| Share Class Assets: | $ 2,190 Mil |
| Turnover: | na |
| Expense Ratio: | 0.18% |
| Index Fund: | Yes |
| Index Tracked: | ICE US Broad Municipal TR LOC |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.6 years | |||
| Average Tenure: 3.6 years | |||
| Managers (Year): Wang Stephanie (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1381 |
| % in Top 10 Holdings: | 3.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 99.2% |
| Foreign Bond: | 0.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | VanEck |
| Phone Number: | 800-826-2333 |
| Website: | www.marketvectorsetfs.com |
| Inception Date: | December 4, 2007 |
Expenses and Fees
| Expense Ratio (%): | 0.18% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.28% |
