VanEck Short High Yield Muni ETF (SHYD) Performance
SHYD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +1.1% since Dec 31, 2025
- 1 year
- +2.6% total return
- 5 years
- +1.1% a year
- 10 years
- +2.0% a year
- Since first price
- +2.2% a year since 2014
SHYD trailing returns vs AGG, TLT, SPY
| Period | SHYD total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.9% | +1.6% | +0.9% | +1.5% | −1.0% |
| 3 months | +0.5% | −0.4% | −0.4% | −1.0% | +3.2% |
| 6 months | +1.0% | −0.9% | −1.5% | −3.8% | +7.8% |
| YTD | +1.1% | −1.7% | −1.0% | −3.4% | +12.3% |
| 1 year | +2.6% | −1.1% | −1.1% | −6.9% | +14.4% |
| 3 years | +16.8%+5.3%/yr | +5.4% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +5.6%+1.1%/yr | −9.7% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +22.3%+2.0%/yr | −10.2% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionJan 14, 2014 | +32.5%+2.2%/yr | −10.4% | — | — | — |
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: SHYD vs AGG
From Jan 14, 2014: SHYD grew to $13,253, AGG to $12,723.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SHYD returns by calendar year
8 of 11 full years positive. Best 2019 (+7.5%), worst 2022 (−9.1%). 2026 is year to date.
SHYD annual returns table
| Year | SHYD | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +1.1% | −4.2% | −1.0% | −3.4% | +12.3% |
| 2025 | +5.6% | −4.2% | +7.2% | +4.3% | +17.7% |
| 2024 | +4.8% | −1.6% | +1.3% | −8.1% | +24.9% |
| 2023 | +2.4% | −4.1% | +5.7% | +2.8% | +26.2% |
| 2022 | −9.1% | −12.7% | −13.0% | −31.2% | −18.2% |
| 2021 | +4.0% | −2.1% | −1.8% | −4.6% | +28.7% |
| 2020 | +1.6% | −31.2% | +7.5% | +18.2% | +18.3% |
| 2019 | +7.5% | −1.0% | +8.5% | +14.1% | +31.2% |
| 2018 | +3.3% | −2.0% | +0.1% | −1.6% | −4.6% |
| 2017 | +4.9% | −1.1% | +3.6% | +9.2% | +21.7% |
| 2016 | −0.2% | −8.0% | +2.4% | +1.2% | +12.0% |
| 2015 | −0.9% | −4.2% | +0.5% | −1.8% | +1.2% |
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.
SHYD largest drawdowns
Now 0.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 27, 2020 | −31.2% | Mar 19, 2020 | Jan 19, 2021 | 21 days | 11 months |
| Aug 9, 2021 | −13.3% | Nov 4, 2022 | Aug 15, 2025 | 1.2 years | 4.0 years |
| Aug 24, 2016 | −8.0% | Dec 1, 2016 | Sep 5, 2017 | 3 months | 1.0 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
SHYD risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2014 |
|---|---|---|---|---|
| Annualized return | +3.9% | +0.4% | +1.7% | +2.0% |
| Volatility (annualized) | 3.5% | 5.1% | 6.4% | 5.7% |
| Sharpe ratio | -0.13 | -0.62 | -0.06 | 0.06 |
| Sortino ratio | -0.16 | -0.73 | -0.07 | 0.08 |
| Best month | +1.9% | +3.6% | +4.9% | +4.9% |
| Worst month | −3.0% | −3.8% | −12.0% | −12.0% |
| Best 12 months | +8.8% | +8.8% | +17.6% | +17.6% |
| Worst 12 months | −0.8% | −11.2% | −11.2% | −11.2% |
| Positive months | 69% | 58% | 66% | 64% |
| Beta vs S&P 500 | 0.18 | 0.21 | 0.19 | — |
| Correlation with S&P 500 | 0.63 | 0.64 | 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.
SHYD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 142 | −11.2% | +3.2% | +17.6% | 73% |
| 3-year (a year) | 118 | −2.2% | +2.3% | +5.8% | 78% |
| 5-year (a year) | 94 | +0.2% | +1.5% | +4.6% | 100% |
| 10-year (a year) | 34 | +1.6% | +1.9% | +2.4% | 100% |
Every holding period starting at a month-end since 2014. Returns for 3 years and longer are annualized.
SHYD performance overview
VanEck Short High Yield Muni ETF (SHYD) returned +2.6% over the past year and +2.0% a year over ten years, with distributions reinvested. Since its first recorded price in 2014 it has returned +2.2% a year, turning $10,000 into about $13,253. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −31.2%, from Feb 27, 2020 to Mar 19, 2020, and it took 10 months to get back to the old high. SHYD finished 8 of its 11 full calendar years with a gain; the best year was 2019 (+7.5%) and the worst 2022 (−9.1%). Volatility has been 5.7% a year.
Related: SHYD chart, SHYD dividends, SHYD bond profile. See the SHYD overview for the latest quote and fund facts.
SHYD performance FAQ
What is the SHYD return over the past year?
SHYD returned +2.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 1.1%.
What is the average annual return of SHYD?
SHYD has returned +1.1% a year over 5 years, +2.0% a year over 10 years, +2.2% a year since January 14, 2014 (total return, distributions reinvested).
How much would $10,000 invested in SHYD be worth?
$10,000 invested in SHYD at its first recorded close on January 14, 2014 would be worth about $13,253 on October 23, 2026 with distributions reinvested.
What was the worst year for SHYD?
The worst calendar year was 2022, with a total return of −9.1%. The best was 2019 at +7.5%.
What is the biggest drawdown of SHYD?
The largest peak-to-trough decline was −31.2% between February 27, 2020 and March 19, 2020. It recovered to the old high on January 19, 2021, 10 months after the bottom.
How volatile is SHYD?
Over the past 3 years SHYD had an annualized volatility of 3.5% and a Sharpe ratio of -0.13 (excess return over 1–3 month T-bills per unit of risk).