HYD vs. GDX - ETF Comparison
HYD - VanEck High Yield Muni ETF
The VanEck High Yield Muni ETF (HYD) tracks an index of high-yield municipal bonds, offering a tax-efficient income stream for investors in high tax brackets. The fund invests in below-investment-grade bonds, providing a higher yield in exchange for a higher default risk. With a diversified portfolio of over 1,400 holdings, HYD offers a reasonable level of diversification, making it a suitable choice for investors seeking additional current income and willing to take on more risk.
GDX - VanEck Gold Miners ETF
The VanEck Gold Miners ETF provides exposure to a diversified portfolio of gold mining companies, offering a way to invest in gold through the equity market. The fund tracks the performance of gold miners, which tend to be correlated with gold prices, but can also be influenced by company-specific factors. By investing in gold miners, investors can potentially benefit from dividend payments and earnings reports, which can make valuation more straightforward. The fund's market capitalization-weighted approach provides a broad exposure to the gold mining sector.
| HYD | GDX | |
|---|---|---|
| Fund Name | VanEck High Yield Muni ETF | VanEck Gold Miners ETF |
| Fund Provider | VanEck | VanEck |
| Index | ICE Broad High Yield Crossover Municipal | NYSE Arca Gold Miners |
| Asset Class | Bonds | Equity |
| Listing | US-listed | US-listed |
| Expense Ratio | 0.32% | 0.51% |
| Inception Date | 2009-02-04 | 2006-05-16 |
| Number Of Holdings | 1456 | 55 |
| Region | United States | Developed Markets |
| Leveraged | Non-leveraged | Non-leveraged |
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Key Metrics
Performance Metrics
Risk Metrics
Detailed Returns
Benchmark Comparison
Key Metrics
Performance Metrics
Risk Metrics
Detailed Returns
Benchmark Comparison
Performance Analysis
The performance analysis examines historical data to assess the returns of the investment strategy, including key metrics such as Cumulative returns, End of Year (EoY) returns, and risk-adjusted returns like the Sharpe ratio or the Sortino ratio.
Cumulative Returns
End of Year Returns Table
End of Year Returns
Risk Analysis
The risk analysis refers to an assessment of potential negative events that could lead to a loss of capital. Conducting a risk analysis can help in deciding whether an investment should be made. This is done using risk metrics such as drawdowns, volatility and beta which reflect stakeholders' confidence in the consistency of an investment strategy.
Drawdowns
Drawdowns Table
Monte Carlo Simulation
The Monte Carlo simulation is a statistical method used to forecast portfolio returns by generating a wide range of potential outcomes through random sampling from historical asset price data. It helps investors assess the potential risk and return of a portfolio under various market conditions. The simulation takes into account the initial investment and optionally simulates cash flow scenarios like fixed contributions, fixed withdrawals, or percentage withdrawals.
IMPORTANT: The forecast generated through Monte Carlo simulations is purely hypothetical and does not guarantee future returns. Investment decisions should be made with consideration of various factors, and past performance is not indicative of future results.