VanEck High Yield Muni ETF
VanEck ETF Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
VanEck High Yield Muni ETF is a U.S. bond index ETF that tracks the ICE Broad High Yield Crossover Municipal Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- High yield
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q3
VanEck High Yield Muni ETF (the Fund) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Broad High Yield Crossover Municipal Index (the High Yield Index).
The fund uses a passive indexing approach to track the ICE Broad High Yield Crossover Municipal Index, which comprises U.S. dollar-denominated high-yield municipal bonds weighted 70% in non-investment grade, 25% in triple-B rated, and 5% in single-A rated securities. Because the fund does not purchase all index constituents but instead uses sampling methodology to approximate the index's risk and return characteristics, its performance may diverge from the index. The fund maintains at least 80% of assets in municipal securities and may concentrate holdings in particular industries to the extent the index does.
| Share class | Expense ratio |
|---|---|
| HYD | 0.32% |
Portfolio turnover 17.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 95.16% |
| Derivatives | 0.02% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: City of Houston TX Hotel Occupancy Tax & Special Revenue, Montgomery County Industrial Development Authority, Energy Southeast A Cooperative District, New Jersey Health Care Facilities Financing Authority, Commonwealth of Puerto Rico, Arkansas Development Finance Authority, Baldwin County Industrial Development Authority, State of Illinois
Largest exited: Arkansas Development Finance Authority, Chicago O'Hare International Airport, New York Transportation Development Corp ×3, Central Texas Regional Mobility Authority, Pennsylvania Economic Development Financing Authority, Puerto Rico Sales Tax Financing Corp Sales Tax Revenue
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 89.0% |
| Floating rate | 7.1% |
| Zero-coupon or unclassified | 3.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.6% |
| 1-3y | 1.6% |
| 3-5y | 4.3% |
| 5-10y | 13.4% |
| 10y+ | 80.2% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 52% |
| Interest rates | 48% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +3.34 yr |
| Investment grade | +3.06 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.04 yr | 1% |
| 1 yr | 0.39 yr | 7% |
| 5 yr | 1.39 yr | 23% |
| 10 yr | 2.74 yr | 46% |
| 30 yr | 1.46 yr | 24% |
| 3 mo | 0.03 yr | 0% |
| 1 yr | 0.42 yr | 7% |
| 5 yr | 1.49 yr | 23% |
| 10 yr | 3.01 yr | 47% |
| 30 yr | 1.46 yr | 23% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.04 | +0.01 | +0.02 | $4.6k | $6.8k |
| 1 yr | +0.39 | +0.18 | +0.24 | $74.8k | $99.3k |
| 5 yr | +1.39 | +0.74 | +0.75 | $306.7k | $313.7k |
| 10 yr | +2.74 | +1.50 | +1.51 | $622.5k | $627.3k |
| 30 yr | +1.46 | +0.64 | +0.82 | $264.4k | $341.7k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue0.00% · due 2046-07-01 | 0.99% | $40.99M | — |
| — | Buckeye Tobacco Settlement Financing Authority5.00% · due 2055-06-01 | 0.87% | $36.28M | — |
| — | Tobacco Settlement Financing Corp5.00% · due 2046-06-01 | 0.71% | $29.70M | — |
| — | Chicago Board of Education5.00% · due 2042-12-01 | 0.67% | $27.94M | — |
| — | New York Transportation Development Corp5.00% · due 2046-07-01 | 0.66% | $27.31M | — |
| — | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue4.75% · due 2053-07-01 | 0.63% | $26.03M | — |
| — | Chicago Board of Education5.25% · due 2039-12-01 | 0.57% | $23.81M | — |
| — | Florida Development Finance Corp5.00% · due 2044-07-01 | 0.55% | $22.64M | — |
| — | New York Transportation Development Corp5.25% · due 2050-01-01 | 0.51% | $21.25M | — |
| — | City of Houston TX Airport System Revenue4.00% · due 2041-07-15 | 0.49% | $20.20M | — |
Top 10 positions are 6.64% of net assets, top 25 13.15%, across 560 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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