ETF Evaluator:
VanEck Short High Yield Muni ETF ()
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(as of Aug 26)
Best Performing in High Yield Muni Over the Last Year
| 10.8% | VanEck CEF Municipal Income ETF (XMPT) |
| 9.9% | Eaton Vance High Income Municipal ETF (EVYM) |
| 9.5% | Rockefeller Opportunistic Muncpl Bd ETF (RMOP) |
| 9.0% | Nomura National Hi-Yld Muncpl Bd ETF (HTAX) |
| 8.8% | Franklin Municipal High Yield ETF (FTMH) |
Risk
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Risk
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ETF Details
VanEck Short High Yield Muni ETF Overview
VanEck Short High Yield Muni ETF (SHYD) is a passively managed Municipal Bond High Yield Muni exchange-traded fund (ETF). VanEck launched the ETF in 2014.
The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE 1-12 Year Broad High Yield Crossover Municipal Index.
The fund normally invests at least 80% of its total assets in securities that comprise the benchmark index. The index is composed of publicly traded municipal bonds that cover the U.S. dollar denominated high yield short-term tax-exempt bond market.
About VanEck Short High Yield Muni ETF (SHYD)
There are 1 members of the management team with an average tenure of 3.67 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 1-12Y Brd HY Crossover Muni TR USD index with a weighting of 100%. VanEck Short High Yield Muni ETF has 584 securities in its portfolio. The top 10 holdings constitute 9.7% 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 Short High Yield Muni ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. VanEck Short High Yield Muni ETF has 7.9% 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 97.8% (90.0% domestic bond, 7.9% foreign bond and 0.0% convertible bond). VanEck Short High Yield Muni ETF has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $450 million in total assets, which is below the $990 million average for the High Yield Muni 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.
SHYD 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 Short High Yield Muni ETF expense ratio is below average compared to funds in the High Yield Muni category. VanEck Short High Yield Muni ETF has an expense ratio of 0.32%, which is 47% 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 Short High Yield Muni ETF has a portfolio turnover rate of 29%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 38% for the High Yield Muni category.
Recently, in the month of July 2026, VanEck Short High Yield Muni ETF returned -0.7%, which earned it a grade of A, as the High Yield Muni category had an average return of -1.8%. 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 Short High Yield Muni ETF has a trailing yield of 3.63%, which is below the 4.58% category average.
The fund normally distributes its income monthly.
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 Short High Yield Muni ETF Grades
Year to date, the ETF has returned 1.2%, 0.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.0% over the past year (grade of F), 3.9% over the past three years (grade of F) and 0.7% per year over the past five years (grade of B) and 1.9% per year over the past 10 years (grade of D).
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SHYD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SHYD Return (NAV) | -0.7% | 0.4% | 4.0% | 3.9% | 0.7% | 1.9% |
| SHYD Return (Price) | -0.6% | 0.8% | 4.2% | 4.2% | 0.6% | 1.9% |
| NAV +/- Price Return | -0.134% | -0.354% | -0.170% | -0.340% | 0.022% | -0.005% |
| High Yield Muni Avg | -1.8% | 0.3% | 7.4% | 4.8% | 0.2% | 2.2% |
| SHYD Grade (NAV) | A | B | F | F | B | D |
| +/- Category (NAV) | 1.1% | 0.1% | -3.5% | -0.9% | 0.5% | -0.2% |
| SHYD Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
SHYD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SHYD Return (NAV) | 1.2% | 4.7% | 4.0% | 3.6% | -9.0% | 3.6% | 1.8% | 7.3% | 2.5% | 5.5% | -1.9% |
| SHYD Return (Price) | 0.8% | 5.6% | 4.8% | 2.4% | -9.1% | 4.0% | 1.6% | 7.5% | 3.3% | 4.9% | -0.2% |
| NAV +/- Price Ret | -0.303% | 0.196% | 0.200% | -0.343% | 0.008% | 0.111% | -0.133% | 3.4% | 33.0% | -11.5% | -89.0% |
| High Yield Muni Avg | 1.9% | 4.1% | 5.5% | 6.4% | -14.8% | 6.0% | 3.9% | 10.4% | 1.1% | 7.1% | 0.7% |
| SHYD Grade (NAV) | F | A | F | F | A | F | F | F | A | D | F |
| +/- Category | -0.7% | 0.6% | -1.5% | -2.7% | 5.7% | -2.4% | -2.1% | -3.1% | 1.4% | -1.5% | -2.5% |
| Risk Measures | |
| Beta: | 0.54 |
| R-Squared: | 88% |
| Standard Deviation: | 3.3% |
| Category Risk Index: | 0.52 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.27 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 3.6% |
| Total Assets: | $ 450 Mil |
| Share Class Assets: | $ 450 Mil |
| Turnover: | 29.0% |
| Expense Ratio: | 0.32% |
| Index Fund: | Yes |
| Index Tracked: | ICE US Broad Municipal TR LOC |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.7 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): Wang Stephanie (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 584 |
| % in Top 10 Holdings: | 9.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 7.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 90.0% |
| Foreign Bond: | 7.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | VanEck |
| Phone Number: | 800-826-2333 |
| Website: | www.marketvectorsetfs.com |
| Inception Date: | January 13, 2014 |
Expenses and Fees
| Expense Ratio (%): | 0.32% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.60% |
