SHYD
VanEck Short High Yield Muni ETF
SHYD
VanEck Short High Yield Muni ETF
-
NAV
$22.14
as of June 02, 2023 -
YTD RETURNS
0.73%
as of June 02, 2023 -
Total Net Assets
$394.15M
as of June 02, 2023 -
Total Expense Ratio
0.35% -
Inception Date
01/13/2014
SHYD Fees & Expenses: Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Notwithstanding the foregoing, the Adviser has agreed to pay the offering costs until at least September 1, 2023. “Other Expenses” have been restated to reflect current fees.
Fund Description
The VanEck Short High Yield Muni ETF (SHYD®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of ICE 1-12 Year Broad High Yield Crossover Municipal Index (MIHX), which is intended to track the overall performance of the U.S. dollar denominated high yield short-term tax-exempt bond market.
Overview
Fund Highlights
- 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 20% BBB and 10% A investment-grade exposure as well as a 25% cap on non-rated bonds 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"