VCRMvsHYDETF Comparison
VS
Vanguard Core Tax-Exempt Bond ETF (VCRM) and VanEck High Yield Muni ETF (HYD) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. VCRM is less expensive with a Total Expense Ratio (TER) of 0.12%, versus 0.32% for HYD. VCRM is down -0.95% year-to-date (YTD) with +$1.18B in YTD flows. HYD performs better with -0.58% YTD performance, and +$167M in YTD flows. Run a side-by-side ETF comparison of VCRM 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.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
VCRM vs HYD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VCRM HYD | -2.07%-2.10% | -3.14%-3.09% | -0.95%-0.58% | +0.50%+0.62% | n/a+10.83% | n/a-4.43% |
| Flows | VCRM HYD | +$134M-$228M | +$300M-$283M | +$1.18B+$167M | +$1.49B+$689M | -+$1.42B | -+$973M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VCRM HYD | +3.20%+3.60% | +2.57%+2.78% | n/a+4.44% | n/a+4.55% |
| Max drawdown | VCRM HYD | -3.57%-3.74% | -3.57%-3.74% | n/a-6.23% | n/a-19.51% |
| Max drawdown duration | VCRM HYD | 74d74d | 74d74d | n/a225d | n/a1824d |
Trading data
VCRM | HYD | |
Last sale 9/21/2026 at 1:30 PM | $73.06 | $48.90 |
| Previous close 09/18/2026 | $73.07 | $48.98 |
| Consolidated volume 09/18/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 21, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
VCRM
is actively managed and doesn’t replicate an indexVCRM | HYD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 9/21/2026 at 1:30 PM
Live
Closed
VCRM | HYD | |
|---|---|---|
| Last price | $73.06 | $48.90 |
| 1D performance | -0.01% | -0.16% |
| AuM | $1.93 B | $4.03 B |
| E/R | 0.12% | 0.32% |
Advertisement
Exposure
Countries
VCRM
USA
58.45%
Other
41.55%
HYD
USA
60.29%
Other
39.71%
Sectors
VCRM
Municipal
58.45%
Other
41.55%
HYD
Municipal
60.29%
Other
39.71%
Diversification
VCRM
Total weight of top 15 holdings out of 15
7.97%
HYD
Total weight of top 15 holdings out of 15
8.67%
Top 15 holdings
Data as of July 31, 2026
VCRM
University of Cincinnati, 5% 1jun2045, USD (2017)
0.83%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.74%
Massachusetts, 5% 1jun2047, USD
0.66%
US09182TEC71
0.63%
Kentucky Public Energy Authority, 4% 1aug2052, USD (2022)
0.55%
Chicago O'Hare International Airport, 5% 1jan2047, USD (2016D)
0.55%
Jefferson Sales Tax District, 5% 1dec2042, USD (2017B)
0.54%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.47%
PEFA Inc., 5% 1apr2035, USD (2026A)
0.46%
Texas Department of Housing and Community Affairs, 6% 1jan2057, USD (2026B)
0.45%
Wisconsin Public Finance Authority, 5.75% 1jul2062, USD (2023-1, A)
0.43%
Energy Southeast, 5% 1sep2033, USD (2025B)
0.43%
Las Vegas Convention and Visitors Authority, 5% 1jul2043, USD
0.42%
US57563WAC29
0.42%
Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A)
0.40%
HYD
Puerto Rico Sales Tax Financing Corp., 0% 1jul2046, USD (10001D)
1.00%
Chicago Board of Education, 5% 1dec2042, USD (2012A)
0.81%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2046, USD (2018B)
0.74%
Buckeye Tobacco Settlement Financing Authority, 5% 1jun2055, USD (2020B-2)
0.70%
New York Transportation Development Corp., 5% 1jul2046, USD (2016A)
0.63%
Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD
0.57%
Chicago Board of Education, 5.25% 1dec2039, USD (2015C)
0.55%
Florida Development Finance Corp., 5% 1jul2044, USD (2024)
0.50%
New York Transportation Development Corp., 5.25% 1jan2050, USD (2016A)
0.48%
Puerto Rico Sales Tax Financing Corp., 5% 1jul2058, USD
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%
US442349GA89
0.44%
Frequently asked questions about VCRM and HYD
How have the VCRM and HYD ETFs performed in 2026?
As of September 18, 2026, VCRM is down -0.95% year-to-date (YTD), while HYD has lost -0.58%. That puts HYD better performer ahead so far this year.
Which ETF is attracting more investor money: VCRM or HYD?
Year-to-date, the VCRM ETF saw +$1.18B in flows, compared to +$167M for HYD.
Which ETF is more volatile: VCRM or HYD?
Over the past year, VCRM had a volatility of 2.57%, while HYD experienced 2.78%.
Which ETF is bigger: VCRM or HYD?
As of September 18, 2026, VCRM holds $1.93 B in assets under management (AUM), while HYD manages $4.03 B.
What sectors do the VCRM and HYD ETFs invest in?
VCRM leans toward sectors like Municipal. Meanwhile, HYD focuses on Municipal.
What are the top holdings of the VCRM ETF and HYD ETF?
VCRM top holdings include University of Cincinnati, 5% 1jun2045, USD (2017), Black Belt Energy Gas District, 5% 1oct2035, USD (2025) and Massachusetts, 5% 1jun2047, USD. HYD holds in its top three: Puerto Rico Sales Tax Financing Corp., 0% 1jul2046, USD (10001D), Chicago Board of Education, 5% 1dec2042, USD (2012A) and Tobacco Settlement Financing Corp. (NJ), 5% 1jun2046, USD (2018B).
Which ETF is more diversified: VCRM or HYD?
VCRM holds 2396 securities with 7.97% of its assets in the top 15. HYD has 1439 securities and a top 15 weight of 8.67%.
Advertisement
Latest news about VCRM & HYD
How Investors can Maximize Tax Efficiency with Income ETFs
July 22, 2026
HYD
Which Types of Bond ETFs Are the Most Tax Efficient?
September 2, 2025
HYD
Advertisement
Advertisement
