VTECvsHYDETF Comparison
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Vanguard California Tax-Exempt Bond ETF (VTEC) 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. VTEC is less expensive with a Total Expense Ratio (TER) of 0.06%, versus 0.32% for HYD. VTEC is down -0.96% year-to-date (YTD) with +$2.67B in YTD flows. HYD performs better with -0.23% YTD performance, and +$686M in YTD flows. Run a side-by-side ETF comparison of VTEC 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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VTEC vs HYD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEC HYD | +3.94%+3.76% | -1.30%-2.09% | -0.96%-0.23% | -0.56%+0.01% | n/a+16.98% | n/a-2.63% |
| Flows | VTEC HYD | +$801M+$565M | +$1.30B+$213M | +$2.67B+$686M | +$3.00B+$1.12B | -+$2.03B | -+$1.78B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEC HYD | +5.02%+5.90% | +3.24%+3.74% | n/a+4.49% | n/a+4.68% |
| Max drawdown | VTEC HYD | -5.64%-6.09% | -6.50%-6.77% | n/a-6.77% | n/a-19.44% |
| Max drawdown duration | VTEC HYD | 77d77d | 242d115d | n/a115d | n/a1760d |
Trading data
VTEC | HYD | |
Last sale 10/30/2026 at 5:01 PM | $97.06 | $49.52 |
| Previous close 10/29/2026 | $96.82 | $49.47 |
| Consolidated volume 10/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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VTEC | 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 10/30/2026 at 5:01 PM
Live
Closed
VTEC | HYD | |
|---|---|---|
| Last price | $97.06 | $49.52 |
| 1D performance | +0.25% | +0.09% |
| AuM | $4.34 B | $4.56 B |
| E/R | 0.06% | 0.32% |
Characteristics
VTEC | HYD | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | VanEck |
| Benchmark | S&P California AMT-Free Municipal Bond Index | ICE Broad High Yield Crossover Municipal Index |
| N° of holdings | 1732 | 670 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 30, 2024 | February 4, 2009 |
| ESG | No | No |
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Exposure
Countries
VTEC
USA
60.19%
Other
39.81%
HYD
USA
59.89%
Other
40.11%
Sectors
VTEC
Municipal
60.19%
Other
39.81%
HYD
Municipal
59.89%
Other
40.11%
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Diversification
VTEC
Total weight of top 15 holdings out of 15
3.77%
HYD
Total weight of top 15 holdings out of 15
9.27%
Top 15 holdings
Data as of September 30, 2026
VTEC
University of California, 5% 15may2036, USD (2025)
0.50%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.37%
Bay Area Toll Authority, 5% 1apr2061, USD (2026)
0.28%
US91412HWB58
0.25%
San Diego Public Facilities Financing Authority, 5.25% 15oct2055, USD (2025A)
0.24%
US544525Y931
0.23%
California, 5.25% 1oct2051, USD
0.23%
US88035JSP83
0.23%
US13048TGT43
0.22%
University of California, 5% 15may2032, USD (2022)
0.22%
US672325R587
0.21%
US544647HQ66
0.21%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.20%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.20%
US13063EUR51
0.20%
HYD
Puerto Rico Sales Tax Financing Corp., 0% 1jul2046, USD (10001D)
1.06%
Chicago Board of Education, 5% 1dec2042, USD (2012A)
0.86%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2046, USD (2018B)
0.81%
New York Transportation Development Corp., 5% 1jul2046, USD (2016A)
0.71%
Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD
0.66%
Chicago Board of Education, 5.25% 1dec2039, USD (2015C)
0.60%
Florida Development Finance Corp., 5% 1jul2044, USD (2024)
0.55%
New York Transportation Development Corp., 5.25% 1jan2050, USD (2016A)
0.55%
Iowa Finance Authority, 4.75% 1aug2042, USD (2012)
0.53%
California Municipal Finance Authority, 4% 15jul2029, USD (2019)
0.51%
California Statewide Communities Development Authority, 5.25% 1dec2056, USD (2016A)
0.51%
Arkansas Development Finance Authority, 5.45% 1sep2052, USD (2022)
0.50%
Florida Development Finance Corp., 5.25% 1jul2053, USD (2024)
0.48%
US442349GA89
0.48%
California Statewide Communities Development Authority, 5% 1dec2041, USD (2016A)
0.47%
Frequently asked questions about VTEC and HYD
How have the VTEC and HYD ETFs performed in 2026?
As of October 29, 2026, VTEC is down -0.96% year-to-date (YTD), while HYD has lost -0.23%. That puts HYD better performer ahead so far this year.
Which ETF is attracting more investor money: VTEC or HYD?
Year-to-date, the VTEC ETF saw +$2.67B in flows, compared to +$686M for HYD.
Which ETF is more volatile: VTEC or HYD?
Over the past year, VTEC had a volatility of 3.24%, while HYD experienced 3.74%.
Which ETF is bigger: VTEC or HYD?
As of October 29, 2026, VTEC holds $4.34 B in assets under management (AUM), while HYD manages $4.56 B.
What sectors do the VTEC and HYD ETFs invest in?
VTEC leans toward sectors like Municipal. Meanwhile, HYD focuses on Municipal.
What are the top holdings of the VTEC ETF and HYD ETF?
VTEC top holdings include University of California, 5% 15may2036, USD (2025), Los Angeles Unified School District, 5% 1jul2034, USD (2024A) and Bay Area Toll Authority, 5% 1apr2061, USD (2026). 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: VTEC or HYD?
VTEC holds 3944 securities with 3.77% of its assets in the top 15. HYD has 1372 securities and a top 15 weight of 9.27%.
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