Which returned more over the last year, FMHI or HYD?

In the year to Oct 28, 2026, with distributions reinvested, FMHI returned −0.1% and HYD +1.0%.

Which is cheaper, FMHI or HYD?

HYD is cheaper, by 0.38 percentage points a year. That is about $38 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

FMHI vs HYD: Differences, Returns & Fees

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On Jul 31, 2026 FMHI's duration was 7.9 years and HYD's 6.6; HYD charges 0.32% to FMHI's 0.70%.

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Net assets on Oct 27, 2026: $1.0bn for First Trust Municipal High Income ETF and $4.5bn for VanEck High Yield Muni ETF.

FMHI on its own →HYD on its own →

At a glance

−0.1%

FMHI total return, 1 year

+1.0%

HYD total return, 1 year

0.70%

FMHI expense ratio

0.32%

HYD expense ratio

Pair scorecard

HYD costs 0.38 points a year less; their one-year returns differ by 1.1 points; HYD is 4.5 times larger.

FMHI vs HYD: Differences, Returns & Fees
Measure	FMHI	HYD
Return
Measure	FMHI	HYD
Total return, 1 year	−0.1%	+1.0%
Drawdown
Measure	FMHI	HYD
Below its high	4.0%, high on Jul 2, 2026	4.0%, high on Aug 3, 2021
Benchmark
Measure	FMHI	HYD
What it tracks	No index, actively managed	ICE Broad High Yield Crossover Municipal Index
Cost and size
Measure	FMHI	HYD
Expense ratio	0.70%	0.32%
Net assets, as of Oct 27, 2026	$1.0bn	$4.5bn
Holdings
Measure	FMHI	HYD
Holdings in common	9%

Holdings in common uses holdings dated Jul 31, 2026. Method

Risk and return

Nov 10, 2017 to Oct 23, 2026 · 467 weekly returns

FMHI HYD

Return

Total return edge FMHI +26.5% +14.1%

Annualized edge FMHI +2.6% +1.5%

Price return edge FMHI −8.7% −21.0%

Risk

Volatility edge FMHI 6.8% 11.5%

Max drawdown edge FMHI −18.4% −29.1%

Risk-adjusted

Sharpe edge FMHI 0.02 −0.05

Sortino edge FMHI 0.02 −0.07

Calmar edge FMHI 0.14 0.05

Reading

FMHI returned more: +26.5% to +14.1%. FMHI swung less: 6.8% to 11.5%. FMHI fell less at its worst: −18.4% to −29.1%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: FMHI vs HYD: Differences, Returns & Fees
Measure	FMHI	HYD	Edge	How it is measured
Return
Total return	+26.5%	+14.1%	FMHI	Price change plus distributions, reinvested.
Annualized	+2.6%	+1.5%	FMHI	Total return as a yearly rate.
Price return	−8.7%	−21.0%	FMHI	Price change alone, distributions left out.
Risk
Volatility	6.8%	11.5%	FMHI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	5.5%	8.6%	FMHI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−18.4%	−29.1%	FMHI	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.02	−0.05	FMHI	Return above Treasury bills per unit of volatility.
Sortino	0.02	−0.07	FMHI	Return above Treasury bills per unit of downside deviation.
Calmar	0.14	0.05	FMHI	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 467 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, FMHI and HYD hold 9% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026.

50%

0 half 100%

half

9% in common

Positions both hold · largest shared weight first FMHI HYD

AR ARSDEV 5.45 09/01/2052, due Sep 1, 2052 0.41% 0.45%

OH BUCGEN 5 06/01/2055, due Jun 1, 2055 0.32% 0.69%

IA IASGEN 4.75 08/01/2042, due Aug 1, 2042 0.30% 0.44%

PR PRC 4 07/01/2033, due Jul 1, 2033 0.29% 0.31%

WI PUBTRN 5.75 06/30/2060, due Jun 30, 2060 0.29% 0.42%

PR PRC 4 07/01/2035, due Jul 1, 2035 0.30% 0.28%

NY NYTTRN 4.38 10/01/2045, due Oct 1, 2045 0.24% 0.33%

LA LASFAC 5.75 09/01/2064, due Sep 1, 2064 0.21% 0.21%

AL MOBPOL 4.75 12/01/2054, due Dec 1, 2054 0.56% 0.18%

PR PRC 4 07/01/2041, due Jul 1, 2041 0.41% 0.18%

AZ MARDEV 4 10/15/2047, due Oct 15, 2047 0.35% 0.18%

AL BLWPOL 03/01/2056, due Mar 1, 2056 0.20% 0.17%

Only in one fund ↓

Only in FMHI

PR PRCGEN 4.33 07/01/2040, due Jul 1, 2040 0.58%

AL MOBPOL 06/01/2034, due Jun 1, 2034 0.50%

NY NYCUTL 06/15/2041, due Jun 15, 2041 0.47%

ID SPVGEN 6.25 09/01/2053, due Sep 1, 2053 0.41%

GA MAIUTL 09/01/2053, due Sep 1, 2053 0.39%

MD MDSMED 5.25 07/01/2050, due Jul 1, 2050 0.38%

NH NHSMED 5.5 08/01/2050, due Aug 1, 2050 0.37%

KY MEADEV 08/01/2061, due Aug 1, 2061 0.36%

Only in HYD

PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE, due Jul 1, 2046 0.98%

CHICAGO IL BRD OF EDU, due Dec 1, 2042 0.79%

TOBACCO SETTLEMENT FING CORP NJ, due Jun 1, 2046 0.71%

NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE, due Jul 1, 2046 0.61%

PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE, due Jul 1, 2053 0.58%

CHICAGO IL BRD OF EDU, due Dec 1, 2039 0.53%

FLORIDA ST DEV FIN CORP, due Jul 1, 2044 0.52%

NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE, due Jan 1, 2050 0.48%

Check overlap with more funds →

Side by side

FMHI First Trust Municipal High Income ETF HYD VanEck High Yield Muni ETF

Where it sits Bond ETF Bond ETF

Issuer First Trust VanEck

What it is Actively managed Tracks an index

Total return, 1 year −0.1% +1.0%

Expense ratio 0.70% 0.32%

Holdings 766 2147

Net assets, as of Oct 27, 2026 $1.0bn $4.5bn

FMHI and HYD on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-9B0268AA58

FMHI and HYD are built for the same job. How do they differ in cost, holdings and results?

What each follows. FMHI follows No index, actively managed and HYD follows ICE Broad High Yield Crossover Municipal Index.
Holdings in common. 9% of the weight is in the same securities (holdings dated Jul 31, 2026).
Cost. FMHI charges 0.70% of assets a year and HYD 0.32%, a gap of 0.38 points.

Data as of Oct 28, 2026.

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About each fund

FMHI

FMHI is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned −0.1% with distributions reinvested. The prospectus expense ratio is 0.70% a year. It sat 4.0% below its high of Jul 2, 2026 on Oct 28, 2026.

HYD

HYD tracks an index. Over the year to Oct 28, 2026 it returned +1.0% with distributions reinvested. The prospectus expense ratio is 0.32% a year. It sat 4.0% below its high of Aug 3, 2021 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, FMHI or HYD?: In the year to Oct 28, 2026, with distributions reinvested, FMHI returned −0.1% and HYD +1.0%.
Which is cheaper, FMHI or HYD?: HYD is cheaper, by 0.38 percentage points a year. That is about $38 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

FMHI vs HIMU FMHI vs HYMB CGHM vs FMHI HIMU vs HYD CGHM vs HYD HYD vs HYMB

Where to next

FMHI on its own →HYD on its own →Hold both: look the portfolio through →Rankings →FMHI dividend history →FMHI holdings →HYD dividend history →HYD holdings →Standards and sources →

Sources and dates

FMHI filings on SEC EDGAR ↗

FMHI prospectus with the expense ratio (SEC) ↗

First Trust page for FMHI ↗

HYD filings on SEC EDGAR ↗

HYD prospectus with the expense ratio (SEC) ↗

VanEck website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, FMHI against HYD, data as of Oct 28, 2026. https://etfiq.com/compare/any/fmhi-vs-hyd

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.