VanEck Intermediate Muni ETF (ITM)


Market Price (9/23/2026): $44.52

VanEck Intermediate Muni ETF (ITM)


Market Price (9/23/2026): $44.52

Key Takeaways

  • ITM has returned -3.3% YTD vs +14.0% for SPY, -1.4% for AGG; -1.4% over the past 12 months (SPY +16.9%, AGG -0.4%). details →
  • Priced in gold, ITM has returned -52.4% over the past 3 years, vs +8.8% in dollars — its dollar gains have lagged gold. details →
  • Over the past month, ITM has seen net outflows of −$17M (−0.8% of assets). details →
  • ITM yields 2.87% based on its trailing 12-month distributions.
  • Risk-adjusted returns trail AGG: 3-year Sharpe ratio of -0.3 vs 0.0. details →
Last updated: 9/22/2026.

Price Chart

Asset Allocation with ITM

Risk Tolerance:
ConservativeModerateAggressive
Moderate — 55% equity / 25% bonds / 20% alternatives
10Y Return (ann.)
+12.0%
Volatility
11.0%
Sharpe
0.84
YTD
+9.1%
Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

Learn More →
Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance
Learn More →
Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Top 20 Holdings for ITM

Total Weights
Top 5: 2.6% | Top 10: 4.1% | Top 20: 6.7%

HoldingETF Weight
-USD CASH-0.70%
646067KE7New Jersey Educational Facilities Autho0.54%
13013JEB8California Community Choice Financing A0.53%
13063EKM7State Of California0.46%
13013JFW1California Community Choice Financing A0.39%
13013JFR2California Community Choice Financing A0.31%
64972GE26New York City Municipal Water Finance A0.29%
84136JAL3Southeast Energy Authority A Cooperativ0.29%
74440DFC3Kentucky Public Energy Authority0.28%
13033DAG0California Housing Finance Agency0.28%
63607WBD5New Hampshire Business Finance Authorit0.27%
837032BM2South Carolina Jobs-Economic Developmen0.27%
569203NS7Salem-Keizer School District No 24j0.27%
45506EMW0Indiana Finance Authority0.27%
574193XK9State Of Maryland0.26%
64972JSW9New York City Transitional Finance Auth0.26%
20282EAS5Commonwealth Financing Authority0.26%
59465HXF8Michigan State Hospital Finance Authori0.26%
13013JHG4California Community Choice Financing A0.26%
64966SLW4City Of New York Ny0.26%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ITM Return0%-9%6%1%5%-3%-1%
Peers Return1%-9%6%1%4%-2%-1%
S&P 500 Return27%-19%24%23%16%13%107%

Monthly Win Rates [3]
ITM Win Rate67%33%50%50%67%56% 
Peers Win Rate64%25%50%50%61%56% 
S&P 500 Win Rate75%42%67%75%67%56% 

Max Drawdowns [4]
ITM Max Drawdown-3%-14%-6%-3%-5%-5% 
Peers Max Drawdown-2%-13%-6%-3%-5%-5% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MUB, VTEB, TFI, LMUB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/22/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker1Y3Y5Y
ITM-0.38-0.26-0.84
Bond Top Results (3Y)   
USHY0.210.840.08
SHYG0.220.790.22
JNK0.230.750.01
HYG0.090.750.02
SPSB-0.810.54-0.46

Results as of 8312026.

How Low Can It Go

EventITMS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-14.1%-24.5%
  % Gain to Breakeven16.5%32.4%
  Time to Breakeven1082 days427 days
2020 COVID-19 Crash
  % Loss-23.3%-33.7%
  % Gain to Breakeven30.4%50.9%
  Time to Breakeven84 days140 days
2013 Taper Tantrum
  % Loss-10.6%-0.2%
  % Gain to Breakeven11.9%0.2%
  Time to Breakeven324 days1 days
2008-2009 Global Financial Crisis
  % Loss-12.8%-53.4%
  % Gain to Breakeven14.7%114.4%
  Time to Breakeven83 days1085 days

Compare to MUB, VTEB, TFI, LMUB

In The Past

VanEck Intermediate Muni ETF's stock fell -3.7% during the 2025 US Tariff Shock. Such a loss loss requires a 3.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventITMS&P 500
2020 COVID-19 Crash
  % Loss-23.3%-33.7%
  % Gain to Breakeven30.4%50.9%
  Time to Breakeven84 days140 days

Compare to MUB, VTEB, TFI, LMUB

In The Past

VanEck Intermediate Muni ETF's stock fell -3.7% during the 2025 US Tariff Shock. Such a loss loss requires a 3.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

ITM Dip Buy History


Get Notified
Alerts when dip buy opportunities arise.
Notify Me →

Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

TickerNameDip %Mkt PricePrice DatePeak PricePeak Date# Days
IJHiShares Core S&P Mid-Cap ETF-6.6%73.47922202678.67816202637
MDYState Street SPDR S&P MIDCAP 400 ETF Trust-6.5%670.499222026716.91816202637
IVOOVanguard S&P Mid-Cap 400 ETF-6.6%124.349222026133.08816202637
IJRiShares Core S&P Small-Cap ETF-7.1%139.709222026150.44816202637
VBVanguard Small-Cap ETF-5.5%292.339222026309.29816202637
IWMiShares Russell 2000 ETF-5.9%287.219222026305.09816202637
SCHASchwab U.S. Small-Cap ETF-6.6%33.76922202636.13630202684
VTWOVanguard Russell 2000 ETF-5.9%116.009222026123.31816202637
DFASDimensional U.S. Small Cap ETF-6.0%79.40922202684.48816202637
ESMLiShares ESG Aware MSCI USA Small-Cap ETF-5.7%53.41922202656.64816202637
NUSCNuveen ESG Small-Cap ETF-6.4%49.87922202653.27816202637
AKREAkre Focus ETF-11.3%54.89922202661.85830202623
IWPiShares Russell Mid-Cap Growth ETF-5.3%139.909222026147.70817202636
IJKiShares S&P Mid-Cap 400 Growth ETF-6.5%111.339222026119.11817202636
MDYGState Street SPDR S&P 400 Mid Cap Growth ETF-6.6%106.239222026113.69817202636
IWOiShares Russell 2000 Growth ETF-7.0%367.929222026395.65816202637
VBKVanguard Small-Cap Growth ETF-6.1%344.069222026366.24817202636
IJTiShares S&P Small-Cap 600 Growth ETF-8.2%164.389222026179.07804202649
SLYGState Street SPDR S&P 600 Small Cap Growth ETF-8.2%109.709222026119.50804202649
IWSiShares Russell Mid-Cap Value ETF-5.0%164.729222026173.44816202637
IJJiShares S&P Mid-Cap 400 Value ETF-6.6%141.609222026151.67816202637
MDYVState Street SPDR S&P 400 Mid Cap Value ETF-6.6%90.95922202697.39816202637
VBRVanguard Small-Cap Value ETF-5.1%238.749222026251.66816202637
AVUVAvantis U.S. Small Cap Value ETF-5.5%121.619222026128.74804202649
IJSiShares S&P Small-Cap 600 Value ETF-6.4%131.749222026140.68816202637
SLYVState Street SPDR S&P 600 Small Cap Value ETF-6.4%105.069222026112.22816202637
VIOVVanguard S&P Small-Cap 600 Value ETF-6.3%113.159222026120.76816202637
ASHRXtrackers Harvest CSI 300 China A-Shares ETF-8.4%34.17922202637.30622202692
EWYiShares MSCI South Korea ETF-12.1%192.629222026219.20621202693
EWZiShares MSCI Brazil ETF-8.3%38.26922202641.734142026161
FXIiShares China Large-Cap ETF-8.5%35.00922202638.265132026132
ILFiShares Latin America 40 ETF-6.0%35.81922202638.104142026161
KWEBKraneShares CSI China Internet ETF-17.1%25.37922202630.595132026132
DVYiShares Select Dividend ETF-5.6%156.249222026165.50816202637
SDYState Street SPDR S&P Dividend ETF-5.8%149.929222026159.18824202629
NOBLProShares S&P 500 Dividend Aristocrats ETF-5.6%55.78922202659.07824202629
COWZPacer US Cash Cows 100 ETF-5.6%68.36922202672.40830202623
MTUMiShares MSCI USA Momentum Factor ETF-7.9%317.909222026345.22622202692
SPHQInvesco S&P 500 Quality ETF-5.7%84.98922202690.10630202684
FNDASchwab Fundamental U.S. Small Company ETF-6.5%36.03922202638.52816202637
SPMOInvesco S&P 500 Momentum ETF-5.2%153.309222026161.66622202692
URAGlobal X Uranium ETF-24.9%43.74922202658.265062026139
BOTZGlobal X Funds Global X Robotics & Artificial Intelligence ETF-13.5%36.01922202641.635132026132
ROBOROBO Global Robotics & Automation Index ETF-9.9%81.44922202690.346022026112
LITGlobal X Lithium & Battery Tech ETF-22.1%71.33922202691.625112026134
ICLNiShares Global Clean Energy ETF-24.9%17.83922202623.756022026112
ARKQARK Autonomous Technology & Robotics ETF-12.1%126.479222026143.825282026117
ARKXARK Space & Defense Innovation ETF-12.5%33.04922202637.745282026117
NASATema Space Innovators ETF-40.5%24.93922202641.895272026118
DRSKAptus Defined Risk ETF-5.7%27.99922202629.676012026113
YYYAmplify CEF High Income ETF-6.5%10.81922202611.56712202672
GDEWisdomTree Efficient Gold Plus Equity Strategy Fund-5.3%67.50922202671.30825202628
XLFState Street Financial Select Sector SPDR ETF-6.4%54.80922202658.56903202619
XLEState Street Energy Select Sector SPDR ETF-6.3%61.78922202665.9391520267
XLIState Street Industrial Select Sector SPDR ETF-8.7%170.279222026186.51816202637
XLYState Street Consumer Discretionary Select Sector SPDR ETF-7.8%112.339222026121.825282026117
XLPState Street Consumer Staples Select Sector SPDR ETF-5.4%82.73922202687.45824202629
XLUState Street Utilities Select Sector SPDR ETF-13.5%40.53922202646.854092026166
XLBState Street Materials Select Sector SPDR ETF-5.9%50.53922202653.67826202627
IYJiShares U.S. Industrials ETF-7.9%156.379222026169.86804202649
IYMiShares U.S. Basic Materials ETF-5.7%185.359222026196.45825202628
FXNFirst Trust Energy AlphaDEX Fund-7.5%22.53922202624.3591520267
SMHVanEck Semiconductor ETF-9.2%607.469222026668.91622202692
SOXXiShares Semiconductor ETF-12.6%572.789222026655.01622202692
ITAiShares U.S. Aerospace & Defense ETF-15.5%214.009222026253.22816202637
XOPState Street SPDR S&P Oil & Gas Exploration & Production ETF-9.1%181.619222026199.7091520267
IYTiShares U.S. Transportation ETF-11.0%80.15922202690.01716202668
IAIiShares U.S. Broker-Dealers & Securities Exchanges ETF-7.4%183.449222026198.06903202619
KREState Street SPDR S&P Regional Banking ETF-8.6%71.19922202677.93816202637
MISLFirst Trust Indxx Aerospace & Defense ETF-13.2%42.71922202649.195282026117
RINGiShares MSCI Global Gold Miners ETF-7.9%85.84922202693.17825202628
SOXQInvesco PHLX Semiconductor ETF-13.3%99.839222026115.11622202692
TLTiShares 20+ Year Treasury Bond ETF-5.8%81.75922202686.78629202685
SPTLState Street SPDR Portfolio Long Term Treasury ETF-5.3%24.94922202626.33629202685
EDVVanguard World Funds Extended Duration ETF-7.9%60.23922202665.43624202690
LMUBiShares Long-Term National Muni Bond ETF-6.7%47.59922202651.00705202679
GLDSPDR Gold Trust-10.3%400.079222026445.934192026156
IAUiShares Gold Trust-10.6%81.67922202691.344192026156
GLDMSPDR Gold MiniShares Trust-10.1%86.33922202696.044192026156
SLViShares Silver Trust-24.9%59.63922202679.355132026132
PPLTETFS Physical Platinum Shares-15.0%16.62922202619.555132026132
PALLETFS Physical Palladium Shares-17.8%23.75922202628.894142026161
USOUnited States Oil Fund LP-11.0%144.089222026161.8691520267
UNGUnited States Natural Gas Fund LP-11.6%10.86922202612.283292026177
BNOUnited States Brent Oil Fund LP ETV-7.1%55.85922202660.135042026141
VNQVanguard Real Estate ETF-8.1%92.829222026100.95728202656
XLREState Street Real Estate Select Sector SPDR ETF-7.6%42.50922202646.01728202656
SCHHSchwab U.S. REIT ETF-7.8%22.91922202624.86726202658
IYRiShares U.S. Real Estate ETF-8.0%98.689222026107.26728202656
REETiShares Global REIT ETF-8.5%26.44922202628.89726202658
USRTiShares Core U.S. REIT ETF-9.4%63.26922202669.82726202658

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-09-22

Asset allocation rotation · Past month

  • Equity ETFs drew the largest net inflows (+$56.1B), followed by Bond (+$14.3B), with every major asset class in net inflows.
  • Within the mix, money rotated into US Large Cap Core (+$15.0B) and out of US Nasdaq Growth (−$5.9B).
  • Relative to fund size, CORO drew the largest inflow (+51.7% of AUM) and SNXX the largest outflow (−31.1%).
Largest inflows
#TickerNameTypeNet flow% of AUM
1VOOVanguard S&P 500 ETFEquity US Large Cap Core+$27.88B+2.6%
2VTIVanguard Morningstar Total Stock Market ETFEquity US Total Market+$6.89B+1.0%
3SGOViShares 0-3 Month Treasury Bond ETFCash+$6.3B+5.8%
4VGSHVanguard Short-Term Treasury ETFBond Short Treasury+$4.4B+12.7%
5COROiShares International Country Rotation Active ETFEquity International Broad+$4.34B+51.7%
6SOXXiShares Semiconductor ETFEquity Industry Subsector+$4.28B+10.0%
7IUSBiShares Core Universal USD Bond ETFBond Core Plus Multisector+$3.92B+8.9%
8SPYMState Street SPDR Portfolio S&P 500 ETFEquity US Large Cap Core+$3.7B+2.2%
9SCHDSchwab U.S. Dividend Equity ETFEquity Dividend Income+$3.38B+3.0%
10VXUSVanguard Total International Stock ETFEquity International Broad+$2.84B+1.7%
Largest outflows
#TickerNameTypeNet flow% of AUM
1SPYState Street SPDR S&P 500 ETFEquity US Large Cap Core-$8.96B-1.1%
2IVViShares Core S&P 500 ETFEquity US Large Cap Core-$7.98B-0.9%
3QQQInvesco QQQ Trust, Series 1Equity US Nasdaq Growth-$6.78B-1.4%
4MTUMiShares MSCI USA Momentum Factor ETFEquity Factor Smart Beta-$4.27B-17.5%
5LQDiShares iBoxx $ Investment Grade Corporate Bond ETFBond Intermediate Corporate-$4.18B-14.2%
6VGITVanguard Intermediate-Term Treasury ETFBond Intermediate Treasury-$2.66B-6.7%
7DRAMRoundhill Memory ETFOther-$2.33B-9.0%
8GOVTiShares U.S. Treasury Bond ETFBond Intermediate Treasury-$2.24B-5.4%
9EWYiShares MSCI South Korea ETFEquity Emerging Markets-$2.0B-7.3%
10GDXVanEck Gold Miners ETFOther-$1.37B-4.6%

Largest ETF fund flows across ~2644 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About ITM

0Holdings Count: 1365
Expense Ratio: 0.18%
Inception Date: 2007-12-04
VanEck Intermediate Muni ETF
The Fund seeks to replicate, before fees and expenses, the price and yield performance of the ICE Intermediate AMT-Free Broad National Municipal Transition Index. The Intermediate Index is comprised of publicly traded municipal bonds that cover the US dollar denominated intermediate term tax-exempt bond market.
Asset Class: Multi-Asset | ETF Website

Recent Active Movers

Peer Comparisons

Peers to compare with:

Profile

ITMMUBVTEBTFILMUBMedian
NameVanEck Int.iShares Na.Vanguard T.State Stre.iShares Lo. 
Asset ClassBondBondBondBondBond-
AUM ($ Bil)2.045.749.03.01.83.0
Expense Ratio0.18%0.05%0.03%0.23%0.09%0.09%
10-D Avg Volume (Mil)0.324.969.320.630.290.63
Latest Day Volume (Mil)-4.009.530.760.122.38
Holdings Count1,3657,09821,9689421,365
Inception Date12/4/20079/6/20078/21/20159/11/20073/16/2025-

Fundamentals

ITMMUBVTEBTFILMUBMedian
NameVanEck Int.iShares Na.Vanguard T.State Stre.iShares Lo. 
Net Asset Value44.76102.6348.2343.7147.82-
Premium/Discount0.1%0.1%-0.1%-0.4%-0.5%-0.1%
Distribution Yield0.0%3.3%3.5%3.7%4.0%3.5%
Sales Yield------
Earnings Yield------

Valuation

ITMMUBVTEBTFILMUBMedian
NameVanEck Int.iShares Na.Vanguard T.State Stre.iShares Lo. 
P/S (TTM)------
P/E (TTM)------
P/FCF (TTM)------
Forward P/E------
Forward P/S------

Risk

ITMMUBVTEBTFILMUBMedian
NameVanEck Int.iShares Na.Vanguard T.State Stre.iShares Lo. 
Volatility (1Y)3.1%3.1%2.9%3.0%4.4%3.1%
Volatility (3Y)4.2%4.1%4.0%4.2%5.8%4.2%
Volatility (5Y)4.4%4.1%4.0%4.4%5.8%4.4%
Beta (1Y)0.090.090.080.090.130.09
Beta (3Y)0.040.060.050.050.030.05
Beta (5Y)0.050.060.050.050.030.05
Sharpe Ratio (1Y)-0.45-0.20-0.20-0.52-0.34-0.34
Sharpe Ratio (3Y)0.630.590.680.510.010.59
Sharpe Ratio (5Y)-0.080.030.05-0.200.010.01
Max Drawdown (1Y)-5.1%-4.2%-4.1%-4.7%-6.7%-4.7%
Max Drawdown (3Y)-5.1%-4.8%-4.8%-5.5%-6.7%-5.1%
Max Drawdown (5Y)-14.6%-11.6%-12.3%-14.9%-6.7%-12.3%

Returns

ITMMUBVTEBTFILMUBMedian
NameVanEck Int.iShares Na.Vanguard T.State Stre.iShares Lo. 
1M Return-2.4%-2.5%-2.4%-2.9%-3.9%-2.5%
3M Return-4.0%-3.7%-3.6%-3.9%-6.0%-3.9%
6M Return-2.7%-2.1%-1.8%-2.5%-3.5%-2.5%
YTD Return-3.3%-2.3%-2.0%-2.7%-3.5%-2.7%
1Y Return-1.4%-0.6%-0.6%-1.6%-1.5%-1.4%
2Y Return1.1%0.5%0.8%-0.7%-0.7%
3Y Return8.0%7.4%8.3%6.5%-7.7%

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity0.0 Mil
Short Interest: % Change Since 8152026-66.8%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest1