HYD vs FMB: Holdings Overlap
VanEck · 1911 holdings · $4.4B · as of 2026-04-30
FMBFirst Trust Managed Municipal ETF
First Trust · 1256 holdings · $2.0B · as of 2026-04-30
How similar are HYD and FMB?
VanEck High Yield Muni ETF (HYD, by VanEck) holds 1911 positions; First Trust Managed Municipal ETF (FMB, by First Trust) holds 1256. They have 79 holdings in common, and by portfolio weight the two funds are 4.1% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 4.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 79HYD holds 1911 · FMB holds 1256
- Weight in Shared Holdings
- HYD 7%·FMB 8%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in HYD
1832 of 1911 positions (88.2% of the fund) are not held by FMB. Showing the top 30 by weight.
- Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-10.99%
- Tobacco Settlement Financing Corp., Series 2018B0.71%
- CHICAGO IL BRD OF EDU0.67%
- NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE0.66%
- PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE0.63%
- CHICAGO IL BRD OF EDU0.57%
Only in FMB
1177 of 1256 positions (91.0% of the fund) are not held by HYD. Showing the top 30 by weight.
- KY MEADEV 08/01/20610.81%
- GA MAIUTL 09/01/20520.73%
- Black Belt Energy Gas District, Gas Project No. 6, Series 2021B0.50%
- NY NYCGEN 4 11/01/20370.50%
- Texas Municipal Gas Acquisition and Supply Corp. IV, Gas Supply, Series 2023B0.46%
- City of Atlanta, Airport Passenger Facility Charge, Subordinate Lien, Series 2019D0.45%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| HYD | -1.5% | +1.3% | +7.1% | +4.5% | -0.5% | +2.8% | 4.38% |
| FMB | -1.0% | +1.1% | +5.4% | +3.7% | +0.4% | +2.1% | 3.60% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in HYD vs FMB →
Shared Holdings(79)
The top 10 shared positions account for 35% of the overlap, led by PR PRC 4 07/01/2033, Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-2 and California Community Choice Financing Authority, Clean Energy Project, Series 2023B-1.
| PR PRC 4 07/01/2033 | 0.33% | 0.25% | 0.25% |
|---|---|---|---|
| Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-2 | 0.29% | 0.17% | 0.17% |
| California Community Choice Financing Authority, Clean Energy Project, Series 2023B-1 | 0.27% | 0.16% | 0.16% |
| Energy Southeast A Cooperative District, Series 2023A-1 | 0.15% | 0.46% | 0.15% |
| New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia Airport Terminals C&D Redevelopment Project, Series 2020 | 0.22% | 0.14% | 0.14% |
| CALIFORNIA ST MUNI FIN AUTH SPL FAC REVENUE | 0.46% | 0.14% | 0.14% |
| Colorado (State of) Health Facilities Authority (CommonSpirit Health), Series 2019 A-2, Ref. RB | 0.17% | 0.12% | 0.12% |
| California Community Choice Financing Authority, Clean Energy Project, Series 2025E | 0.23% | 0.11% | 0.11% |
| KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE | 0.14% | 0.11% | 0.11% |
| SOUTHEAST ENERGY AUTHORITY A COOPERATIVE | 0.10% | 0.21% | 0.10% |
| State of Illinois, Series 2017C | 0.10% | 0.23% | 0.10% |
| ARKANSAS DEV FIN AUTH ENVIRONMENTAL REVENUE | 0.10% | 0.10% | 0.10% |
| PRAIRIE CENTER CO MET DIST #3 LTD PROPERTY TAX SUPPORTED PRI | 0.10% | 0.12% | 0.10% |
| HOUSTON TX ARPT SYS REVENUE | 0.49% | 0.09% | 0.09% |
| SOUTHEAST ENERGY AUTH AL COOPERATIVE DIST GAS SPLY REVENUE | 0.09% | 0.11% | 0.09% |
| Southeast Energy Authority A Cooperative District, Series 2025D | 0.08% | 0.27% | 0.08% |
| NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE | 0.10% | 0.08% | 0.08% |
| WASHINGTON ST HSG FIN COMMISSION | 0.07% | 0.11% | 0.07% |
| Buckeye Tobacco Settlement Financing Authority, Series 2020B-2, Class 2 | 0.87% | 0.07% | 0.07% |
| LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS & CMNTY DEV AUTH REVE | 0.08% | 0.07% | 0.07% |
| CALIFORNIA ST POLL CONTROL FING AUTH WTR FURNISHING REVENUE | 0.07% | 0.30% | 0.07% |
| Mississippi (State of) Hospital Equipment & Facilities Authority (Baptist Memorial Health Care), Series 2016, RB | 0.07% | 0.25% | 0.07% |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE | 0.07% | 0.41% | 0.07% |
| GTR ORLANDO AVIATION AUTH FL SPL PURPOSE ARPT FACS REVENUE | 0.27% | 0.06% | 0.06% |
| MAIN STREET ENERGY INC ENERGY PROJ REVENUE | 0.06% | 0.20% | 0.06% |
Frequently Asked Questions
How much do HYD and FMB overlap?
HYD and FMB overlap by 4.1% of portfolio weight. They share 79 holdings (HYD holds 1911 positions and FMB holds 1256), based on each fund's latest SEC-reported holdings.
Is it redundant to own both HYD and FMB?
The two portfolios are 4.1% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of HYD and FMB?
The largest positions held by both funds are PR PRC 4 07/01/2033, Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-2, California Community Choice Financing Authority, Clean Energy Project, Series 2023B-1, Energy Southeast A Cooperative District, Series 2023A-1 and New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia Airport Terminals C&D Redevelopment Project, Series 2020. Together the top 10 shared positions account for 35% of the total overlap.
What does HYD own that FMB doesn't?
1832 positions (88.2% of HYD) are unique to HYD, led by Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-1, Tobacco Settlement Financing Corp., Series 2018B and CHICAGO IL BRD OF EDU. In the other direction, 1177 positions (91.0% of FMB) are unique to FMB.