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 $2.06 billion in assets under management. It holds a D grade with a score of 51.2 out of 100, ranking 7th out of 10 peers in its category and 363rd of 458 tracked ETFs overall. The fund charges an expense ratio of 0.18%, which is slightly below the category median of 0.19%. Its dividend yield stands at 3.10%, trailing the category median of 3.40%. With top 10 holdings comprising only 3.8% of assets, the fund maintains a highly diversified portfolio rather than concentrating in a few large positions.

The fund’s price of $45.43 sits at 41.7% of its 52-week range, indicating it is closer to its low than its high over the past year. Short-term momentum shows a 1-month gain of 2.95%, contrasting with negative returns over the 3-month, 6-month, and 1-year horizons. The 1-year return of -0.69% underperforms the category median of -0.34%. Long-term performance remains positive, with a 3-year return of +13.80%. The rating was upgraded from C to D on 2026-09-25, though price history is available for only 3.0 years.

Annualized volatility of 3.78% is labeled Very Low, suggesting stable price movements relative to broader market fluctuations. A beta of 0.96 indicates the fund moves in close proportion to the market. The Sharpe ratio of -1.51 reflects poor risk-adjusted returns during the measured period. Maximum drawdown reached -7.43%, highlighting the depth of recent losses. Liquidity is supported by an average daily volume of 775,260 shares, facilitating easy entry and exit for investors.

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

ITM Top Holdings

Holdings as of 2026-07-31 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: 4.96% (as of 2026-10-22) — 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): 19.03 (as of 2026-10-22) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

ITM Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 775K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $2.06B 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