ETF Evaluator:
VanEck CEF Municipal Income 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 CEF Municipal Income ETF Overview
VanEck CEF Municipal Income ETF (XMPT) is a passively managed Municipal Bond High Yield Muni exchange-traded fund (ETF). VanEck launched the ETF in 2011.
The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the S-Network Municipal Bond Closed-End Fund IndexSM (the "CEFMX Index").
The fund normally invests at least 80% of its total assets in investments the income from which is exempt from U.S. federal income tax (other than federal alternative minimum tax). It normally invests at least 80% of its total assets in securities of issuers that comprise the fund's benchmark index. The CEFMX Index is comprised of shares of U.S.-listed closed-end funds.
About VanEck CEF Municipal Income ETF (XMPT)
There are 2 members of the management team with an average tenure of 8.99 years: Peter Liao (2011) and Griffin Driscoll (2023). 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 S-Network Municipal Fix Incm CEF TR USD index with a weighting of 100%. VanEck CEF Municipal Income ETF has 39 securities in its portfolio. The top 10 holdings constitute 59.6% 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 CEF Municipal Income ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. VanEck CEF Municipal Income ETF has 3.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -0.9% 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 99.4% (96.1% domestic bond, 3.3% foreign bond and 0.0% convertible bond). VanEck CEF Municipal Income ETF has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $219 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.
XMPT 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 CEF Municipal Income ETF expense ratio is high compared to funds in the High Yield Muni category. VanEck CEF Municipal Income ETF has an expense ratio of 1.97%, which is 228% higher than its category average, making the fund expense ratio grade a F. 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 CEF Municipal Income ETF has a portfolio turnover rate of 13%, which indicates that it holds its assets around / 0.1 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 CEF Municipal Income ETF returned -3.0%, which earned it a grade of F, 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 CEF Municipal Income ETF has a trailing yield of 6.41%, which is above the 4.58% 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 CEF Municipal Income ETF Grades
Year to date, the ETF has returned 1.9%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 10.8% over the past year (grade of A), 6.0% over the past three years (grade of A) and -1.8% per year over the past five years (grade of F) and 1.6% per year over the past 10 years (grade of F).
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XMPT 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 |
|
| XMPT Return (NAV) | -3.0% | 0.5% | 10.8% | 6.0% | -1.8% | 1.6% |
| XMPT Return (Price) | -3.1% | 0.7% | 10.9% | 5.9% | -1.9% | 1.6% |
| NAV +/- Price Return | 0.084% | -0.230% | -0.174% | 0.051% | 0.027% | 0.008% |
| High Yield Muni Avg | -1.8% | 0.3% | 7.4% | 4.8% | 0.2% | 2.2% |
| XMPT Grade (NAV) | F | B | A | A | F | F |
| +/- Category (NAV) | -1.2% | 0.2% | 3.3% | 1.2% | -2.0% | -0.5% |
| XMPT Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
XMPT Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| XMPT Return (NAV) | 1.9% | 7.9% | 6.8% | 2.7% | -23.8% | 7.9% | 7.4% | 20.2% | -5.9% | 8.3% | 1.6% |
| XMPT Return (Price) | 1.8% | 8.0% | 7.0% | 2.5% | -24.0% | 7.9% | 7.7% | 20.3% | -5.9% | 8.3% | 1.0% |
| NAV +/- Price Ret | -0.026% | 0.014% | 0.028% | -0.063% | 0.010% | -0.002% | 0.040% | 0.7% | -0.5% | 0.1% | -36.8% |
| 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% |
| XMPT Grade (NAV) | C | A | A | F | F | A | A | A | F | B | A |
| +/- Category | -0.0% | 3.8% | 1.3% | -3.7% | -9.0% | 2.0% | 3.5% | 9.8% | -7.0% | 1.2% | 0.9% |
| Risk Measures | |
| Beta: | 2.04 |
| R-Squared: | 92% |
| Standard Deviation: | 12.1% |
| Category Risk Index: | 1.88 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.99 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 6.4% |
| Total Assets: | $ 219 Mil |
| Share Class Assets: | $ 219 Mil |
| Turnover: | 13.0% |
| Expense Ratio: | 1.97% |
| 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: 2 | |||
| Longest Tenure: 15.1 years | |||
| Average Tenure: 9.0 years | |||
| Managers (Year): Liao Peter (2011), Driscoll Griffin (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 39 |
| % in Top 10 Holdings: | 59.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.3% |
Portfolio Allocation |
|
| Domestic Stock: | -0.9% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 96.1% |
| Foreign Bond: | 3.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.3% |
| Cash: | 1.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | VanEck |
| Phone Number: | 800-826-2333 |
| Website: | www.marketvectorsetfs.com |
| Inception Date: | July 12, 2011 |
Expenses and Fees
| Expense Ratio (%): | 1.97% (Rating: High) |
| Category Average Expense Ratio (%): | 0.60% |
