VanEck Long Muni ETF (MLN) Performance
MLN total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.8% since Dec 31, 2025
- 1 year
- −1.9% total return
- 5 years
- −1.5% a year
- 10 years
- +1.1% a year
- Since first price
- +2.6% a year since 2008
MLN trailing returns vs AGG, TLT, SPY
| Period | MLN total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.4% | +1.0% | +0.9% | +1.5% | −1.0% |
| 3 months | −2.6% | −3.6% | −0.4% | −1.0% | +3.2% |
| 6 months | −3.8% | −5.7% | −1.5% | −3.8% | +7.8% |
| YTD | −1.8% | −4.7% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.9% | −5.7% | −1.1% | −6.9% | +14.4% |
| 3 years | +14.7%+4.7%/yr | +2.5% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −7.3%−1.5%/yr | −21.8% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +11.5%+1.1%/yr | −18.2% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +47.1%+2.6%/yr | −10.5% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionJan 7, 2008 | +62.3%+2.6%/yr | −17.1% | — | — | — |
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: MLN vs AGG
From Jan 7, 2008: MLN grew to $16,235, AGG to $16,426.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MLN returns by calendar year
13 of 17 full years positive. Best 2009 (+22.0%), worst 2022 (−17.2%). 2026 is year to date.
MLN annual returns table
| Year | MLN | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.8% | −8.5% | −1.0% | −3.4% | +12.3% |
| 2025 | +1.8% | −7.8% | +7.2% | +4.3% | +17.7% |
| 2024 | +1.5% | −3.7% | +1.3% | −8.1% | +24.9% |
| 2023 | +8.0% | −9.9% | +5.7% | +2.8% | +26.2% |
| 2022 | −17.2% | −23.8% | −13.0% | −31.2% | −18.2% |
| 2021 | +2.2% | −3.7% | −1.8% | −4.6% | +28.7% |
| 2020 | +6.0% | −23.6% | +7.5% | +18.2% | +18.3% |
| 2019 | +10.5% | −2.6% | +8.5% | +14.1% | +31.2% |
| 2018 | −0.8% | −4.5% | +0.1% | −1.6% | −4.6% |
| 2017 | +8.2% | −1.8% | +3.6% | +9.2% | +21.7% |
| 2016 | +0.2% | −10.5% | +2.4% | +1.2% | +12.0% |
| 2015 | +3.9% | −4.9% | +0.5% | −1.8% | +1.2% |
| 2014 | +17.7% | −2.0% | +6.0% | +27.3% | +13.5% |
| 2013 | −9.1% | −15.5% | −2.0% | −13.4% | +32.3% |
| 2012 | +10.0% | −4.2% | +3.8% | +2.6% | +16.0% |
| 2011 | +16.2% | −7.7% | +7.7% | +34.0% | +1.9% |
| 2010 | −1.3% | −11.1% | +6.4% | +9.0% | +15.1% |
| 2009 | +22.0% | −5.5% | +3.0% | −21.8% | +26.4% |
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.
MLN largest drawdowns
Now 10.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 23, 2008 | −28.4% | Dec 15, 2008 | Sep 25, 2009 | 11 months | 1.7 years |
| Jul 20, 2021 | −24.5% | Oct 26, 2022 | not yet | 1.3 years | 5.3 years so far |
| Mar 9, 2020 | −23.6% | Mar 19, 2020 | Aug 10, 2020 | 10 days | 5 months |
| Nov 30, 2012 | −16.5% | Aug 22, 2013 | Aug 25, 2014 | 9 months | 1.7 years |
| Oct 12, 2010 | −14.3% | Jan 18, 2011 | Aug 3, 2011 | 3 months | 10 months |
| Jul 7, 2016 | −10.5% | Dec 1, 2016 | Dec 5, 2017 | 5 months | 1.4 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
MLN risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | +3.0% | −2.1% | +0.7% | +2.5% |
| Volatility (annualized) | 8.5% | 10.6% | 9.0% | 8.8% |
| Sharpe ratio | -0.12 | -0.49 | -0.14 | 0.18 |
| Sortino ratio | -0.20 | -0.67 | -0.18 | 0.25 |
| Best month | +9.7% | +9.7% | +9.7% | +9.7% |
| Worst month | −5.0% | −6.2% | −7.1% | −7.8% |
| Best 12 months | +14.7% | +14.7% | +14.7% | +23.3% |
| Worst 12 months | −4.6% | −22.1% | −22.1% | −22.1% |
| Positive months | 56% | 50% | 57% | 62% |
| Beta vs S&P 500 | 0.40 | 0.45 | 0.26 | — |
| Correlation with S&P 500 | 0.58 | 0.66 | 0.44 | — |
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.
MLN rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 214 | −22.1% | +3.4% | +23.3% | 70% |
| 3-year (a year) | 190 | −6.2% | +3.8% | +11.9% | 80% |
| 5-year (a year) | 166 | −2.1% | +3.9% | +8.0% | 80% |
| 10-year (a year) | 106 | +0.7% | +3.2% | +6.3% | 100% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
MLN performance overview
VanEck Long Muni ETF (MLN) returned −1.9% over the past year and +1.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned +2.6% a year, turning $10,000 into about $16,235. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −28.4%, from Jan 23, 2008 to Dec 15, 2008, and it took 9 months to get back to the old high. MLN finished 13 of its 17 full calendar years with a gain; the best year was 2009 (+22.0%) and the worst 2022 (−17.2%). Volatility has been 8.8% a year.
Related: MLN chart, MLN dividends, MLN bond profile. See the MLN overview for the latest quote and fund facts.
MLN performance FAQ
What is the MLN return over the past year?
MLN returned −1.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.7%.
What is the average annual return of MLN?
MLN has returned −1.5% a year over 5 years, +1.1% a year over 10 years, +2.6% a year since January 7, 2008 (total return, distributions reinvested).
How much would $10,000 invested in MLN be worth?
$10,000 invested in MLN at its first recorded close on January 7, 2008 would be worth about $16,235 on October 23, 2026 with distributions reinvested.
What was the worst year for MLN?
The worst calendar year was 2022, with a total return of −17.2%. The best was 2009 at +22.0%.
What is the biggest drawdown of MLN?
The largest peak-to-trough decline was −28.4% between January 23, 2008 and December 15, 2008. It recovered to the old high on September 25, 2009, 9 months after the bottom.
How volatile is MLN?
Over the past 3 years MLN had an annualized volatility of 8.5% and a Sharpe ratio of -0.12 (excess return over 1–3 month T-bills per unit of risk).