VanEck High Yield Muni ETF (HYD) Performance
HYD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.4% since Dec 31, 2025
- 1 year
- +0.5% total return
- 5 years
- −0.4% a year
- 10 years
- +2.7% a year
- Since first price
- +5.2% a year since 2009
HYD trailing returns vs AGG, TLT, SPY
| Period | HYD total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +2.2% | +1.8% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.8% | −2.0% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.7% | −3.8% | −1.5% | −3.8% | +7.8% |
| YTD | −0.4% | −3.7% | −1.0% | −3.4% | +12.3% |
| 1 year | +0.5% | −3.8% | −1.1% | −6.9% | +14.4% |
| 3 years | +17.0%+5.4%/yr | +2.8% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −2.0%−0.4%/yr | −20.3% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +30.6%+2.7%/yr | −22.4% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +79.9%+4.0%/yr | −17.1% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionFeb 5, 2009 | +143.9%+5.2%/yr | −5.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HYD vs AGG
From Feb 5, 2009: HYD grew to $24,386, AGG to $15,829.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HYD returns by calendar year
14 of 16 full years positive. Best 2012 (+16.0%), worst 2022 (−16.0%). 2026 is year to date.
HYD annual returns table
| Year | HYD | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.4% | −6.9% | −1.0% | −3.4% | +12.3% |
| 2025 | +2.8% | −5.9% | +7.2% | +4.3% | +17.7% |
| 2024 | +4.9% | −3.2% | +1.3% | −8.1% | +24.9% |
| 2023 | +6.5% | −7.2% | +5.7% | +2.8% | +26.2% |
| 2022 | −16.0% | −20.0% | −13.0% | −31.2% | −18.2% |
| 2021 | +5.1% | −2.6% | −1.8% | −4.6% | +28.7% |
| 2020 | +0.2% | −35.6% | +7.5% | +18.2% | +18.3% |
| 2019 | +9.3% | −1.6% | +8.5% | +14.1% | +31.2% |
| 2018 | +13.6% | −3.3% | +0.1% | −1.6% | −4.6% |
| 2017 | +9.8% | −1.5% | +3.6% | +9.2% | +21.7% |
| 2016 | +0.4% | −10.5% | +2.4% | +1.2% | +12.0% |
| 2015 | +5.1% | −4.0% | +0.5% | −1.8% | +1.2% |
| 2014 | +14.9% | −3.7% | +6.0% | +27.3% | +13.5% |
| 2013 | −8.7% | −15.5% | −2.0% | −13.4% | +32.3% |
| 2012 | +16.0% | −4.7% | +3.8% | +2.6% | +16.0% |
| 2011 | +11.0% | −7.1% | +7.7% | +34.0% | +1.9% |
| 2010 | +0.3% | −9.1% | +6.4% | +9.0% | +15.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HYD largest drawdowns
Now 4.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 26, 2020 | −35.6% | Mar 18, 2020 | May 24, 2021 | 21 days | 1.2 years |
| Aug 3, 2021 | −20.7% | Oct 24, 2022 | not yet | 1.2 years | 5.2 years so far |
| May 24, 2013 | −15.5% | Sep 10, 2013 | Oct 8, 2014 | 4 months | 1.4 years |
| Oct 25, 2010 | −11.1% | Jan 18, 2011 | Aug 2, 2011 | 3 months | 9 months |
| Sep 7, 2016 | −10.5% | Dec 1, 2016 | Aug 3, 2017 | 3 months | 11 months |
| Aug 3, 2011 | −7.1% | Aug 8, 2011 | Sep 16, 2011 | 5 days | 44 days |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
HYD risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2009 |
|---|---|---|---|---|
| Annualized return | +3.7% | −1.1% | +2.3% | +5.0% |
| Volatility (annualized) | 6.5% | 7.9% | 10.5% | 9.3% |
| Sharpe ratio | -0.08 | -0.57 | 0.05 | 0.43 |
| Sortino ratio | -0.12 | -0.73 | 0.07 | 0.59 |
| Best month | +6.0% | +6.2% | +12.3% | +12.3% |
| Worst month | −3.5% | −6.1% | −20.1% | −20.1% |
| Best 12 months | +14.1% | +14.1% | +24.0% | +25.3% |
| Worst 12 months | −2.5% | −18.3% | −18.3% | −18.3% |
| Positive months | 61% | 53% | 64% | 68% |
| Beta vs S&P 500 | 0.35 | 0.36 | 0.31 | — |
| Correlation with S&P 500 | 0.67 | 0.71 | 0.45 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HYD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 201 | −18.3% | +4.8% | +25.3% | 75% |
| 3-year (a year) | 177 | −5.2% | +5.2% | +13.1% | 81% |
| 5-year (a year) | 153 | −1.1% | +5.0% | +8.8% | 88% |
| 10-year (a year) | 93 | +2.3% | +4.0% | +8.4% | 100% |
Every holding period starting at a month-end since 2009. Returns for 3 years and longer are annualized.
HYD performance overview
VanEck High Yield Muni ETF (HYD) returned +0.5% over the past year and +2.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2009 it has returned +5.2% a year, turning $10,000 into about $24,386. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −35.6%, from Feb 26, 2020 to Mar 18, 2020, and it took 1.2 years to get back to the old high. HYD finished 14 of its 16 full calendar years with a gain; the best year was 2012 (+16.0%) and the worst 2022 (−16.0%). Volatility has been 9.3% a year.
Related: HYD chart, HYD dividends, HYD bond profile. See the HYD overview for the latest quote and fund facts.
HYD performance FAQ
What is the HYD return over the past year?
HYD returned +0.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.8%.
What is the average annual return of HYD?
HYD has returned −0.4% a year over 5 years, +2.7% a year over 10 years, +5.2% a year since February 5, 2009 (total return, distributions reinvested).
How much would $10,000 invested in HYD be worth?
$10,000 invested in HYD at its first recorded close on February 5, 2009 would be worth about $24,386 on October 23, 2026 with distributions reinvested.
What was the worst year for HYD?
The worst calendar year was 2022, with a total return of −16.0%. The best was 2012 at +16.0%.
What is the biggest drawdown of HYD?
The largest peak-to-trough decline was −35.6% between February 26, 2020 and March 18, 2020. It recovered to the old high on May 24, 2021, 1.2 years after the bottom.
How volatile is HYD?
Over the past 3 years HYD had an annualized volatility of 6.5% and a Sharpe ratio of -0.08 (excess return over 1–3 month T-bills per unit of risk).