ITM — VanEck Intermediate Muni ETF

ITM Price Performance — Growth of $10,000

Value of a $10,000 investment in ITM over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

ITM Drawdown

The "underwater" chart: ITM's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The VanEck Intermediate Muni ETF is a municipal bond fund issued by VanEck with $2.10 billion in assets under management. It holds a C grade with a score of 50.4 out of 100, ranking 6th out of 10 peers in its category and 380th of 458 tracked ETFs overall. The fund’s 0.18% expense ratio sits slightly below the category median of 0.19%, while its 3.05% dividend yield trails the peer median of 3.35%. Top holdings represent only 3.8% of assets, with the largest position being a 0.5% stake in New Jersey Educational Facilities Authority.

The fund’s price of $45.33 sits at the very bottom of its 52-week range, reflecting a recent decline that contrasts with its longer-term gains. While the 1-year return of +2.15% lags the category median of +2.47%, the 3-year annualized return of +9.29% demonstrates stronger historical performance. Short-term momentum has been negative, with losses recorded over the last day, week, month, and quarter. The rating has remained unchanged at grade C for the last 35 tracked days, and price history is available for only 3.0 years.

With a volatility of 3.03% labeled as Very Low and a beta of 0.98, the fund has exhibited minimal deviation from market movements. However, a Sharpe ratio of -0.94 indicates that risk-adjusted returns have been negative during the measured period. The maximum drawdown of -4.68% suggests limited downside severity, though liquidity is constrained by a bid/ask spread of 11.22% and an average daily volume of 285,915 shares.

AI-generated summary based on the data on this page.

ITM Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 3.8% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how ITM's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With ITM

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with ITM's top 10 — TFI overlaps most, holding 2 of the same companies as ITM's top 10 (1.0% of ITM's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.77% (as of 2026-09-03) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 14.32 (as of 2026-09-03) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

ITM Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 11.22% and average daily volume is 286K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $2.10B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: ITM is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

ITM Performance History

How ITM Compares to Other Municipal Bonds ETFs