Share on Facebook Facebook | Share on StumbleUpon StumbleUpon |
Share on LinkedIn LinkedIn | Submit on Reddit reddit |
Tweet Twitter | Pin it Pinterest |
Share on Google+ Google+ | Share on Digg Digg |
Post to Tumblr Tumblr | Share on Delicious Delicious |
SHYDVanEck Vectors Short High Yield Muni ETF
Fund Description
The VanEck Vectors® Short High Yield Muni 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 market.
-
Fund Ticker
SHYD -
Exchange
Cboe -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Custodian
State Street Bank and Trust Company -
Index Ticker
BMHYTR -
Index Rebalancing
Monthly
as of 01/20/21
-
30-Day SEC Yield1
2.13% -
Total Net Assets
$245.2M -
Number of Holdings
551 -
Options
Expected -
Gross Expense Ratio2
0.35% -
Net Expense Ratio/TER2
0.35% -
Distribution Frequency
Monthly
1, 2 See Important Disclosure.
Key Points
- 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 investment-grade exposure 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"
Yields
as of 01/20/21
-
30-Day SEC Yield1
2.13% -
Distribution Yield1
3.11% -
12-Month Yield1
3.02% -
Taxable Equivalent 30-Day SEC Yields1a
-
12% Federal Tax Rate
2.42% -
22% Federal Tax Rate
2.73% -
24% Federal Tax Rate
2.80% -
32% Federal Tax Rate
3.13% -
35% Federal Tax Rate
3.28% -
37% Federal Tax Rate
3.38%
Fees & Expenses2
-
Management Fee
0.35% -
Other Expenses
-- -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.35% -
Fee Waivers andExpense Reimbursement
-- -
Net Expense Ratio/TER2
0.35%
Trading Information
-
Fund Ticker
SHYD -
Index Total Return Ticker
BMHYTR -
NAV
SHYDNV -
Intraday NAV (IIV)5
SHYDIV -
Shares Outstanding
9,800,000 -
Estimated Cash
SHYDEU -
Total Cash
SHYDTC -
CUSIP
92189F387 -
ISIN
US92189F3872
Fundamentals4
as of 01/19/21
-
Yield to Worst
2.45% -
Yield to Maturity
2.90% -
Effective Duration (yrs)
4.15 -
Duration to Worst (yrs)
4.02 -
Modified Duration (yrs)
4.00 -
Spread Duration (yrs)
3.97 -
Years to Maturity
6.53 -
Coupon
4.86% -
AMT
18.70%
Prices as of 01/20/21
Periods with Elevated Premiums/Discounts
End Date | Trading Days | Reason / Contributing Factors | |
---|---|---|---|
05/20/20 | 36 | Market Volatility |
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 01/13/14 |
|
---|---|---|---|---|---|---|---|---|
SHYD (NAV) | 1.13 | 2.73 | 1.80 | 1.80 | 3.81 | 2.99 | -- | 3.01 |
SHYD (Share Price) | 0.82 | 2.52 | 1.57 | 1.57 | 4.09 | 3.36 | -- | 3.02 |
BMHYTR (Index) | 1.80 | 3.19 | 3.60 | 3.60 | 5.47 | 4.27 | -- | 4.69 |
Performance Differential (NAV - Index) | -0.67 | -0.46 | -1.80 | -1.80 | -1.66 | -1.28 | -- | -1.68 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 01/13/14 |
|
---|---|---|---|---|---|---|---|---|
SHYD (NAV) | 1.13 | 2.73 | 1.80 | 1.80 | 3.81 | 2.99 | -- | 3.01 |
SHYD (Share Price) | 0.82 | 2.52 | 1.57 | 1.57 | 4.09 | 3.36 | -- | 3.02 |
BMHYTR (Index) | 1.80 | 3.19 | 3.60 | 3.60 | 5.47 | 4.27 | -- | 4.69 |
Performance Differential (NAV - Index) | -0.67 | -0.46 | -1.80 | -1.80 | -1.66 | -1.28 | -- | -1.68 |
Top 10 Holdings (%) as of 12/31/20 Daily Holdings
to view
full data
Issuer Name | State | Weighting (%) | |
---|---|---|---|
Illinois St |
IL
|
7.13 | |
New Jersey St Transn Tr Fd Auth |
NJ
|
5.41 | |
Florida Dev Fin Corp Surface Transn Fac Rev |
FL
|
3.85 | |
New Jersey Economic Dev Auth Rev |
NJ
|
3.56 | |
Chicago Ill Brd Ed |
IL
|
3.53 | |
New York Transn Dev Corp Spl Fac Rev |
NY
|
2.65 | |
Brooklyn Arena Loc Dev Corp N Y Pilot Rev |
NY
|
2.61 | |
Chicago Ill |
IL
|
2.11 | |
Puerto Rico Sales Tax Fing Corp Sales Tax Rev |
PR
|
1.75 | |
Allentown Pa Neighborhood Impt Zone Dev Auth Taxrev |
PA
|
1.68 | |
Top 10 Total (%) | 34.28 |
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Geographical Weightings (%) as of 12/31/20
-
State
% of Net Assets -
■
Illinois
18.0 -
■
New Jersey
12.1 -
■
New York
9.4 -
■
California
6.6 -
■
Florida
6.5 -
■
Texas
5.5 -
■
Pennsylvania
5.4 -
■
Puerto Rico
3.0 -
■
Wisconsin
2.7 -
■
Colorado
2.1 -
■
Ohio
2.1 -
■
Arizona
1.9 -
■
Alabama
1.9 -
■
Maryland
1.9 -
■
Washington
1.7 -
■
Georgia
1.6 -
■
Virginia
1.5 -
■
Louisiana
1.5 -
■
Connecticut
1.3 -
■
Virgin Islands
1.2 -
■
Other
12.0
Currency Exposure (%)
as of 12/31/20
-
U.S. Dollar
100.21 -
Other/Cash
-0.21
Sector Weightings (%) as of 12/31/20
-
Sector
% of Net Assets -
■
Industrial Revenue
24.3 -
■
Health Care
13.5 -
■
Leasing
11.8 -
■
Special Tax
10.8 -
■
Transportation
10.4 -
■
Education
8.4 -
■
Local
7.8 -
■
State
7.4 -
■
Tobacco
2.2 -
■
Power
1.6 -
■
Water & Sewer
1.6 -
■
Housing
0.2 -
■
Solid Waste/Res Recovery
0.0
Credit Quality (%) as of 12/31/20
Composite | % of Net Assets | |
---|---|---|
Investment Grade | A | 13.34 |
BBB | 27.18 | |
Non-Investment Grade | BB | 22.07 |
B | 8.47 | |
CCC | 3.12 | |
Total Investment Grade | -- | 40.52 |
Total Non-Investment Grade | -- | 33.66 |
Not Rated | -- | 25.82 |
Maturity (%) as of 12/31/20
Average Portfolio Maturity: 6.59 Years