SHYDvsCMFETF Comparison
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VanEck Short High Yield Muni ETF (SHYD) and iShares California Muni Bond ETF (CMF) belong to the same industry segment: Municipal Bonds. SHYD's top 1 sector exposures are Municipal. In contrast, CMF's top sector exposures are Municipal and Non-Corporate. SHYD is more expensive with a Total Expense Ratio (TER) of 0.32%, versus 0.08% for CMF. SHYD is down -0.1% year-to-date (YTD) with +$114M in YTD flows. CMF performs worse with -2.36% YTD performance, and +$1.60B in YTD flows. Run a side-by-side ETF comparison of SHYD and CMF 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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SHYD vs CMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SHYD CMF | -0.09%-0.25% | -1.41%-3.34% | -0.10%-2.36% | +0.62%-1.71% | +12.92%+9.17% | +3.35%+0.25% |
| Flows | SHYD CMF | +$37M+$660M | +$55M+$801M | +$114M+$1.60B | +$134M+$1.96B | +$135M+$3.16B | +$124M+$3.62B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SHYD CMF | +3.46%+4.84% | +2.17%+3.08% | +2.40%+3.57% | +2.49%+3.58% |
| Max drawdown | SHYD CMF | -3.65%-5.69% | -3.75%-6.52% | -3.75%-6.52% | -12.01%-12.25% |
| Max drawdown duration | SHYD CMF | 64d92d | 102d229d | 102d229d | 1310d1346d |
Trading data
SHYD | CMF | |
Last sale 10/19/2026 at 1:30 PM | $22.25 | $54.79 |
| Previous close 10/16/2026 | $22.31 | $54.82 |
| 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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SHYD | CMF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
SHYD | CMF | |
|---|---|---|
| Last price | $22.25 | $54.79 |
| 1D performance | -0.27% | -0.05% |
| AuM | $492.88 M | $5.19 B |
| E/R | 0.32% | 0.08% |
Characteristics
SHYD | CMF | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | VanEck | iShares |
| Benchmark | ICE 1-12 Year Broad High Yield Crossover Municipal Index | ICE AMT-Free California Municipal Index |
| N° of holdings | 266 | 903 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 13, 2014 | October 4, 2007 |
| ESG | No | No |
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Exposure
Countries
SHYD
USA
57.59%
Other
42.41%
CMF
USA
59.23%
Other
40.77%
Sectors
SHYD
Municipal
57.59%
Other
42.41%
CMF
Municipal
59.23%
Other
40.77%
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Diversification
SHYD
Total weight of top 15 holdings out of 15
14.21%
CMF
Total weight of top 15 holdings out of 15
6.39%
Top 15 holdings
Data as of August 31, 2026
SHYD
California Municipal Finance Authority, 4% 15jul2029, USD (2019)
1.70%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
1.19%
Puerto Rico, 5.75% 1jul2031, USD
1.01%
Puerto Rico, 4% 1jul2033, USD
0.94%
Denver, 5% 1oct2032, USD (2017)
0.94%
Chicago Board of Education, 5% 1dec2036, USD (2017H)
0.93%
Greater Orlando Aviation Authority, 5.5% 1nov2037, USD (2025)
0.90%
US13034A7E44
0.89%
US09182TGC53
0.88%
US05786PAA12
0.87%
Houston Airport System, 5% 15jul2028, USD (2018)
0.86%
Mission Economic Development Corp., 4.625% 1oct2031, USD (2018)
0.84%
New York Transportation Development Corp., 4% 1jul2035, USD (2016A)
0.83%
Baldwin Industrial Development Authority, 4.3% 1mar2056, USD (2026A)
0.74%
Puerto Rico, 5.625% 1jul2029, USD
0.69%
CMF
Orange Water District, FRN 1aug2042, USD (2003A)
0.60%
US79766DLC10
0.52%
US032556NJ70
0.49%
Los Angeles Unified School District, 5% 1jul2031, USD (2024)
0.47%
University of California, 5.5% 15may2040, USD
0.46%
California Educational Facilities Authority, 5% 1may2045, USD
0.44%
US4636324Q95
0.44%
US79905CAB90
0.42%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.41%
US13077DUT70
0.40%
University of California, 5% 15may2036, USD (2025)
0.39%
California, 5% 1mar2055, USD
0.37%
California, 5.25% 1aug2032, USD
0.34%
US91412GSH91
0.32%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.32%
Frequently asked questions about SHYD and CMF
How have the SHYD and CMF ETFs performed in 2026?
As of October 16, 2026, SHYD is down -0.1% year-to-date (YTD), while CMF has lost -2.36%. That puts SHYD better performer ahead so far this year.
Which ETF is attracting more investor money: SHYD or CMF?
Year-to-date, the SHYD ETF saw +$114M in flows, compared to +$1.60B for CMF.
Which ETF is more volatile: SHYD or CMF?
Over the past year, SHYD had a volatility of 2.17%, while CMF experienced 3.08%.
Which ETF is bigger: SHYD or CMF?
As of October 16, 2026, SHYD holds $492.88 M in assets under management (AUM), while CMF manages $5.19 B.
What sectors do the SHYD and CMF ETFs invest in?
SHYD leans toward sectors like Municipal. Meanwhile, CMF focuses on Municipal.
What are the top holdings of the SHYD ETF and CMF ETF?
SHYD top holdings include California Municipal Finance Authority, 4% 15jul2029, USD (2019), Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1) and Puerto Rico, 5.75% 1jul2031, USD. CMF holds in its top three: Orange Water District, FRN 1aug2042, USD (2003A), US79766DLC10 and US032556NJ70.
Which ETF is more diversified: SHYD or CMF?
SHYD holds 520 securities with 14.21% of its assets in the top 15. CMF has 1670 securities and a top 15 weight of 6.39%.
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Latest news about SHYD & CMF
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