FSMBvsHYDETF Comparison
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First Trust Short Duration Managed Municipal ETF (FSMB) and VanEck High Yield Muni ETF (HYD) belong to the same industry segment: Municipal Bonds. In contrast, HYD's top sector exposures are Municipal. FSMB is more expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.32% for HYD. FSMB is up 1.23% year-to-date (YTD) with +$150M in YTD flows. HYD performs worse with -1.57% YTD performance, and +$535M in YTD flows. Run a side-by-side ETF comparison of FSMB and HYD below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FSMB vs HYD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FSMB HYD | -0.11%-0.86% | -0.86%-3.95% | +1.23%-1.57% | +1.37%-0.91% | +8.09%+13.01% | +4.26%-4.06% |
| Flows | FSMB HYD | +$31M+$368M | +$37M+$62M | +$150M+$535M | +$175M+$981M | +$250M+$1.81B | +$492M+$1.62B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FSMB HYD | +2.49%+5.81% | +1.58%+3.64% | +1.68%+4.51% | +1.64%+4.67% |
| Max drawdown | FSMB HYD | -2.71%-6.17% | -2.71%-6.77% | -2.71%-6.77% | -5.98%-19.44% |
| Max drawdown duration | FSMB HYD | 64d92d | 64d102d | 64d102d | 1149d1747d |
Trading data
FSMB | HYD | |
Last sale 10/16/2026 at 7:49 PM | $19.64 | $48.58 |
| Previous close 10/16/2026 | $19.62 | $48.74 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 19, 2026
1-year trailing difference
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FSMB
is actively managed and doesn’t replicate an indexFSMB | HYD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 7:49 PM
Live
Closed
FSMB | HYD | |
|---|---|---|
| Last price | $19.64 | $48.58 |
| 1D performance | +0.08% | -0.33% |
| AuM | $649.27 M | $4.35 B |
| E/R | 0.34% | 0.32% |
Characteristics
FSMB | HYD | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Trust | VanEck |
| Benchmark | - | ICE Broad High Yield Crossover Municipal Index |
| N° of holdings | - | 714 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 1, 2018 | February 4, 2009 |
| ESG | No | No |
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Exposure
Countries
FSMB
Data will be available soon
HYD
USA
60.08%
Other
39.92%
Sectors
FSMB
Data will be available soon
HYD
Municipal
60.08%
Other
39.92%
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Diversification
FSMB
Data will be available soon
HYD
Total weight of top 15 holdings out of 15
8.65%
Top 15 holdings
Data as of January 1, 1970
FSMB
Data will be available soon
HYD
Puerto Rico Sales Tax Financing Corp., 0% 1jul2046, USD (10001D)
1.01%
Chicago Board of Education, 5% 1dec2042, USD (2012A)
0.79%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2046, USD (2018B)
0.74%
New York Transportation Development Corp., 5% 1jul2046, USD (2016A)
0.63%
Buckeye Tobacco Settlement Financing Authority, 5% 1jun2055, USD (2020B-2)
0.62%
Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD
0.61%
Chicago Board of Education, 5.25% 1dec2039, USD (2015C)
0.55%
Florida Development Finance Corp., 5% 1jul2044, USD (2024)
0.52%
New York Transportation Development Corp., 5.25% 1jan2050, USD (2016A)
0.48%
Puerto Rico Sales Tax Financing Corp., 5% 1jul2058, USD
0.47%
US442349GA89
0.47%
Arkansas Development Finance Authority, 5.45% 1sep2052, USD (2022)
0.45%
California Municipal Finance Authority, 4% 15jul2029, USD (2019)
0.44%
Iowa Finance Authority, 4.75% 1aug2042, USD (2012)
0.44%
California Statewide Communities Development Authority, 5.25% 1dec2056, USD (2016A)
0.44%
Frequently asked questions about FSMB and HYD
How have the FSMB and HYD ETFs performed in 2026?
As of October 16, 2026, FSMB is up 1.23% year-to-date (YTD), while HYD has lost -1.57%. That puts FSMB better performer ahead so far this year.
Which ETF is attracting more investor money: FSMB or HYD?
Year-to-date, the FSMB ETF saw +$150M in flows, compared to +$535M for HYD.
Which ETF is more volatile: FSMB or HYD?
Over the past year, FSMB had a volatility of 1.58%, while HYD experienced 3.64%.
Which ETF is bigger: FSMB or HYD?
As of October 16, 2026, FSMB holds $649.27 M in assets under management (AUM), while HYD manages $4.35 B.
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Latest news about FSMB & HYD
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