HYD Fees and Costs — VanEck High Yield Muni ETF
Data updated: 2026-09-25
The net expense ratio is 0.32%. There are no sales loads or redemption fees. Portfolio turnover was 28%.
HYD Fees and Expenses
Annual operating expenses and sales charges of HYD. Prospectus, as of September 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.32% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.32% |
| Fee waiver | — |
| Net expense ratio | 0.32% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
HYD Costs Over Time
On $10,000 invested in HYD, assuming 5% a year before costs, total costs come to $203 over 5 years, cutting the return by 0.34% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.32%) | $34 | $106 | $184 |
| Lost growth on money paid in costs | $0 | $5 | $18 |
| Total costs | $34 | $111 | $203 |
| Value after costs | $10,466 | $11,465 | $12,560 |
| Impact on return, per year | 0.34% | 0.34% | 0.34% |
HYD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.5B
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
HYD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $553.0M | 25.18% |
| BNY Capital Markets, LLC | $328.7M | 14.96% |
| BofA Securities, Inc. | $282.4M | 12.86% |
| Jefferies LLC | $261.5M | 11.90% |
| Morgan Stanley & Co. LLC | $203.7M | 9.27% |
| J.P. Morgan Securities LLC | $185.3M | 8.44% |
| RBC Capital Markets, LLC | $160.2M | 7.29% |
| Goldman Sachs & Co. LLC | $87.1M | 3.97% |
| Barclays Capital Inc. | $73.5M | 3.35% |
| Deutsche Bank Securities Inc. | $61.2M | 2.78% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.