VanEck Intermediate Muni ETF
$44.45−0.35 (−0.79%)
- Expense ratio
- 0.18%
- Fund size
- $2.0B
- 1Y return
- −1.1%
- Yield · Last 12 months
- 3.14%
- Holdings
- 1365
- Volume · 30D
- 0.3M sh
- NAV per share
- $44.75
- 52W range
The ETF.net ITM Grade
Score 78 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 84Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 99Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 38Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 78Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 65Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 90Category rank
Our read on ITM
AMost big muni ETFs buy the whole curve. ITM, running since 2007, sticks to the middle: a passive, AMT-free national index of roughly 1,400 bonds, paid out monthly, for 0.18% a year.
The fund seeks to track the price and yield performance of the ICE Intermediate AMT-Free Broad National Municipal Index before fees and expenses.
Why people hold it
- 0.18% a year against a 0.30% median for muni ETFs in its group. Modest for a fund that screens the maturity range instead of buying the entire market.
- A straight index tracker of the ICE Intermediate AMT-Free Broad National Municipal Index, and it stays unusually close to that benchmark for its cohort.vaneck.com
- Mid-curve by design: shorter maturities than long muni funds mean less price movement per shift in rates, with more coupon than the ultra-short end.vaneck.com
- Roughly 1,400 bonds, income paid monthly, and a 2007 launch that puts several full rate cycles behind it.
Worth knowing
- Broad national trackers like VTEB, SCMB and MUB run at a few basis points. ITM's fee buys the intermediate screen, not the lowest sticker in the aisle.
- Intermediate maturities soften rate moves rather than cancel them, and municipal issuers carry credit risk.
- National in scope and AMT-free, so there is no single-state tax focus of the kind state-targeted peers like NYF are built around.
ITM Holdings
- Other
- 1,365
- 5%
- -USD CASH-
Geography
- United States100.00%
ITM Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | ITM |
|---|---|
| Year to date | −3.0% |
| 1 month | −2.2% |
| 3 months | −3.8% |
| 1 year | −1.1% |
| 3 years | +2.9% |
| 5 years | −0.4% |
| 10 years | +1.4% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | ITM |
|---|---|---|
| 2026 YTD | −3.0% | |
| 2025 | +5.3% | |
| 2024 | +0.7% | |
| 2023 | +5.7% | |
| 2022 | −9.3% | |
| 2021 | +0.2% | |
| 2020 | +5.9% |
ITM in the news
ETF.net Research hasn’t filed on ITM yet — coverage lands here as it’s written.
ITM Dividends
- 3.14%
- $1.40
- $0.12 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.12 |
| Aug 3, 2026 | Aug 6, 2026 | $0.13 |
| Jul 1, 2026 | Jul 7, 2026 | $0.13 |
| Jun 1, 2026 | Jun 4, 2026 | $0.11 |
| May 1, 2026 | May 6, 2026 | $0.11 |
| Apr 1, 2026 | Apr 7, 2026 | $0.13 |
| Mar 2, 2026 | Mar 5, 2026 | $0.10 |
| Feb 2, 2026 | Feb 5, 2026 | $0.12 |
| Dec 29, 2025 | Dec 31, 2025 | $0.12 |
| Nov 28, 2025 | Dec 3, 2025 | $0.11 |
| Nov 3, 2025 | Nov 6, 2025 | $0.12 |
| Oct 1, 2025 | Oct 6, 2025 | $0.11 |
ITM Risk
- 5.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.23
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −14.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.97
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ITM Cost
- The middle half of Intermediate Municipal Bonds funds
- Median 0.35%
2 of the 19 Intermediate Municipal Bonds funds charge less.