VanEck Vectors AMT-Free Long Municipal Index (MLN): Historical Returns

Data Source: from January 1978 to January 2024 (~46 years)
Consolidated Returns as of 31 January 2024
Category: Fixed Income
VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF
ETF • LIVE PERFORMANCE (USD currency)
0.82%
January 2024

In the last 30 Years, the VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF obtained a 4.58% compound annual return, with a 7.22% standard deviation.

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The ETF is related to the following investment themes:

  • Asset Class: Bond
  • Region: North America
  • Country: U.S.
  • Bond - Duration: Long-Term

Investment Returns as of Jan 31, 2024

The VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF guaranteed the following returns.

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
VANECK VECTORS AMT-FREE LONG MUNICIPAL INDEX (MLN) ETF
Consolidated returns as of 31 January 2024
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Jan 31, 2024
  1 Day Time ET(*) Feb 2024 1M 6M 1Y 5Y 10Y 30Y MAX
(~46Y)
VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF n.a. n.a. -0.82 2.68 2.69 1.15 2.95 4.58 5.55
US Inflation Adjusted return -1.12 1.00 -0.40 -2.89 0.16 2.00 1.94
Returns over 1 year are annualized | Available data source: since Jan 1978
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Jan 2024. Current inflation (annualized) is 1Y: 3.11% , 5Y: 4.16% , 10Y: 2.79% , 30Y: 2.53%

In 2023, the VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF granted a 3.39% dividend yield. If you are interested in getting periodic income, please refer to the VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF: Dividend Yield page.

Capital Growth as of Jan 31, 2024

An investment of 1$, since February 1994, now would be worth 3.83$, with a total return of 283.45% (4.58% annualized).

The Inflation Adjusted Capital now would be 1.81$, with a net total return of 81.15% (2.00% annualized).
An investment of 1$, since January 1978, now would be worth 12.06$, with a total return of 1105.82% (5.55% annualized).

The Inflation Adjusted Capital now would be 2.43$, with a net total return of 142.58% (1.94% annualized).

Investment Metrics as of Jan 31, 2024

Metrics of VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF, updated as of 31 January 2024.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
VANECK VECTORS AMT-FREE LONG MUNICIPAL INDEX (MLN) ETF
Advanced Metrics
Data Source: 1 January 1978 - 31 January 2024 (~46 years)
Swipe left to see all data
Metrics as of Jan 31, 2024
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~46Y)
Investment Return (%) -0.82 12.87 2.68 2.69 -3.50 1.15 2.95 3.90 4.58 5.55
Infl. Adjusted Return (%) details -1.12 12.09 1.00 -0.40 -8.68 -2.89 0.16 1.29 2.00 1.94
US Inflation (%) 0.31 0.70 1.66 3.11 5.66 4.16 2.79 2.57 2.53 3.54
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -9.03 -23.67 -23.67 -23.67 -23.67 -23.67 -33.61
Start to Recovery (# months) details 5 30* 30* 30* 30* 30* 45
Start (yyyy mm) 2023 08 2021 08 2021 08 2021 08 2021 08 2021 08 1979 08
Start to Bottom (# months) 3 15 15 15 15 15 26
Bottom (yyyy mm) 2023 10 2022 10 2022 10 2022 10 2022 10 2022 10 1981 09
Bottom to End (# months) 2 15 15 15 15 15 19
End (yyyy mm) 2023 12 - - - - - 1983 04
Longest Drawdown Depth (%) -3.43
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
Start to Recovery (# months) details 6
Start (yyyy mm) 2023 02 2021 08 2021 08 2021 08 2021 08 2021 08 1979 08
Start to Bottom (# months) 1 15 15 15 15 15 26
Bottom (yyyy mm) 2023 02 2022 10 2022 10 2022 10 2022 10 2022 10 1981 09
Bottom to End (# months) 5 15 15 15 15 15 19
End (yyyy mm) 2023 07 - - - - - 1983 04
Longest negative period (# months) details 10 36* 57 92 92 92 92
Period Start (yyyy mm) 2023 02 2021 02 2019 02 2016 03 2016 03 2016 03 2016 03
Period End (yyyy mm) 2023 11 2024 01 2023 10 2023 10 2023 10 2023 10 2023 10
Annualized Return (%) -0.24 -3.50 -1.34 -0.01 -0.01 -0.01 -0.01
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -11.14 -32.05 -32.05 -32.05 -32.05 -32.05 -50.38
Start to Recovery (# months) details 11 36* 36* 36* 36* 36* 98
Start (yyyy mm) 2023 02 2021 02 2021 02 2021 02 2021 02 2021 02 1978 10
Start to Bottom (# months) 9 33 33 33 33 33 36
Bottom (yyyy mm) 2023 10 2023 10 2023 10 2023 10 2023 10 2023 10 1981 09
Bottom to End (# months) 2 3 3 3 3 3 62
End (yyyy mm) 2023 12 - - - - - 1986 11
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
Start to Recovery (# months) details
Start (yyyy mm) 2023 02 2021 02 2021 02 2021 02 2021 02 2021 02 1978 10
Start to Bottom (# months) 9 33 33 33 33 33 36
Bottom (yyyy mm) 2023 10 2023 10 2023 10 2023 10 2023 10 2023 10 1981 09
Bottom to End (# months) 2 3 3 3 3 3 62
End (yyyy mm) 2023 12 - - - - - 1986 11
Longest negative period (# months) details 12* 36* 60* 119* 169 169 169
Period Start (yyyy mm) 2023 02 2021 02 2019 02 2014 03 2009 10 2009 10 2009 10
Period End (yyyy mm) 2024 01 2024 01 2024 01 2024 01 2023 10 2023 10 2023 10
Annualized Return (%) -0.40 -8.68 -2.89 -0.02 -0.18 -0.18 -0.18
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 12.64 12.53 10.93 8.64 8.00 7.22 8.13
Sharpe Ratio -0.19 -0.46 -0.06 0.21 0.32 0.32 0.19
Sortino Ratio -0.33 -0.71 -0.08 0.29 0.44 0.44 0.26
Ulcer Index 3.31 12.88 10.14 7.44 6.00 5.09 7.19
Ratio: Return / Standard Deviation 0.21 -0.28 0.11 0.34 0.49 0.63 0.68
Ratio: Return / Deepest Drawdown 0.30 -0.15 0.05 0.12 0.16 0.19 0.17
% Positive Months details 50% 47% 60% 62% 63% 63% 64%
Positive Months 6 17 36 75 152 229 358
Negative Months 6 19 24 45 88 131 195
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 2.95 6.53 7.25 12.61
Worst 10 Years Return (%) - Annualized 0.93 0.93 0.93
Best 10 Years Return (%) - Annualized 0.16 4.69 4.69 8.37
Worst 10 Years Return (%) - Annualized -1.57 -1.57 -1.57
ROLLING PERIODS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Over the latest 30Y
Best Rolling Return (%) - Annualized 23.64 11.86 9.12 7.25 6.47 4.58
Worst Rolling Return (%) - Annualized -22.10 -6.11 -1.44 0.93 3.40
% Positive Periods 80% 93% 98% 100% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 83.14 27.17 19.57 10.38 6.11 4.95
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 0.93 2.22
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 25.36 10.01 7.15 4.69 4.05 2.00
Worst Rolling Return (%) - Annualized -27.70 -11.19 -5.09 -1.57 0.80
% Positive Periods 66% 88% 90% 94% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 83.14 27.17 19.57 10.38 6.11 4.95
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 0.93 2.22
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Over all the available data source (Jan 1978 - Jan 2024)
Best Rolling Return (%) - Annualized 38.56 19.33 19.01 12.61 9.82 8.45
Worst Rolling Return (%) - Annualized -22.25 -11.43 -1.44 0.93 3.40 4.24
% Positive Periods 79% 91% 98% 100% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 82.83 22.18 13.63 7.55 4.65 3.67
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 0.93 1.57
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 33.45 14.91 15.13 8.37 6.30 5.31
Worst Rolling Return (%) - Annualized -32.15 -20.83 -7.48 -1.57 0.80 1.67
% Positive Periods 64% 86% 88% 94% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 82.83 22.18 13.63 7.55 4.65 3.67
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 0.93 1.57
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Correlations as of Jan 31, 2024

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.

Monthly correlations of VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

VANECK VECTORS AMT-FREE LONG MUNICIPAL INDEX (MLN) ETF
Monthly correlations as of 31 January 2024
Swipe left to see all data
Correlation vs MLN
Asset Class 1 Year 5 Years 10 Years 30 Years Since
Jan 1992
VTI
US Total Stock Market
0.91
0.54
0.39
0.18
0.18
SPY
US Large Cap
0.91
0.54
0.39
0.18
0.18
IJR
US Small Cap
0.66
0.46
0.30
0.12
0.13
VNQ
US REITs
0.87
0.61
0.56
0.32
0.32
QQQ
US Technology
0.83
0.56
0.41
0.13
0.13
PFF
Preferred Stocks
0.73
0.65
0.61
0.33
0.33
EFA
EAFE Stocks
0.89
0.64
0.50
0.21
0.20
VT
World All Countries
0.92
0.60
0.45
0.19
0.19
EEM
Emerging Markets
0.81
0.59
0.45
0.17
0.17
VGK
Europe
0.88
0.62
0.49
0.22
0.22
VPL
Pacific
0.89
0.65
0.48
0.17
0.16
FLLA
Latin America
0.82
0.41
0.30
0.14
0.14
BND
US Total Bond Market
0.94
0.85
0.84
0.71
0.71
TLT
Long Term Treasuries
0.94
0.67
0.69
0.57
0.57
BIL
US Cash
0.33
0.09
0.05
0.04
0.04
TIP
TIPS
0.86
0.73
0.70
0.59
0.60
LQD
Invest. Grade Bonds
0.97
0.87
0.84
0.68
0.67
HYG
High Yield Bonds
0.94
0.70
0.57
0.36
0.36
CWB
US Convertible Bonds
0.79
0.49
0.39
0.22
0.23
BNDX
International Bonds
0.89
0.79
0.77
0.55
0.55
EMB
Emerg. Market Bonds
0.94
0.80
0.75
0.38
0.38
GLD
Gold
0.40
0.33
0.32
0.16
0.15
DBC
Commodities
-0.06
0.08
0.01
0.02
0.02

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

VANECK VECTORS AMT-FREE LONG MUNICIPAL INDEX (MLN) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 February 1994 - 31 January 2024 (30 Years)
Data Source: 1 January 1978 - 31 January 2024 (~46 years)
Inflation Adjusted:
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-23.67% Aug 2021 Oct 2022 15 in progress 15 30 14.05
-16.02% Dec 2012 Aug 2013 9 Aug 2014 12 21 7.48
-10.73% Oct 2010 Jan 2011 4 Sep 2011 8 12 5.92
-9.39% Jul 2016 Nov 2016 5 Dec 2017 13 18 3.87
-9.37% Feb 1994 Nov 1994 10 Mar 1995 4 14 5.14
-8.93% Mar 2020 Apr 2020 2 Nov 2020 7 9 3.74
-7.21% Feb 2008 Nov 2008 10 Feb 2009 3 13 3.75
-5.55% Feb 1999 Jan 2000 12 Jun 2000 5 17 3.00
-5.37% Jun 2003 Jul 2003 2 Dec 2003 5 7 2.58
-4.28% Feb 2015 Jun 2015 5 Nov 2015 5 10 2.43
-3.84% Mar 2004 May 2004 3 Aug 2004 3 6 2.54
-3.82% Jan 2018 Oct 2018 10 Feb 2019 4 14 2.09
-3.35% Oct 2009 Nov 2009 2 Apr 2010 5 7 1.99
-3.18% Oct 2002 Nov 2002 2 Feb 2003 3 5 1.81
-3.13% Jun 2009 Jun 2009 1 Aug 2009 2 3 1.57
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 130 2.8 Months 36.01%
 
DD = 0% 36.01%
 
0% < DD <= -5% 169 2.1 Months 46.81%
 
DD <= -5% 82.83%
 
-5% < DD <= -10% 31 11.6 Months 8.59%
 
DD <= -10% 91.41%
 
-10% < DD <= -15% 19 19.0 Months 5.26%
 
DD <= -15% 96.68%
 
-15% < DD <= -20% 9 40.1 Months 2.49%
 
DD <= -20% 99.17%
 
-20% < DD <= -25% 3 120.3 Months 0.83%
 
DD <= -25% 100.00%
 
-25% < DD <= -30% 0 - 0.00%
 
DD <= -30% 100.00%
 
-30% < DD <= -35% 0 - 0.00%
 
DD <= -35% 100.00%
 
-35% < DD <= -40% 0 - 0.00%
 
DD <= -40% 100.00%
 
-40% < DD <= -45% 0 - 0.00%
 
DD <= -45% 100.00%
 
-45% < DD <= -50% 0 - 0.00%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-32.05% Feb 2021 Oct 2023 33 in progress 3 36 20.35
-16.81% Dec 2012 Aug 2013 9 Dec 2014 16 25 7.69
-11.91% Oct 2010 Jan 2011 4 Dec 2011 11 15 6.65
-11.49% Feb 1994 Nov 1994 10 May 1995 6 16 6.18
-10.12% Dec 2006 Oct 2008 23 Feb 2009 4 27 4.47
-10.06% Jul 2016 Nov 2016 5 May 2019 30 35 4.88
-8.11% Feb 1999 Jan 2000 12 Dec 2000 11 23 4.40
-7.82% Mar 2020 Apr 2020 2 Nov 2020 7 9 3.26
-5.78% Jun 2003 Jul 2003 2 Feb 2004 7 9 2.82
-5.45% Feb 2015 Jun 2015 5 Dec 2015 6 11 3.15
-4.61% Mar 2004 May 2004 3 Jan 2005 8 11 2.56
-3.96% Oct 2009 Nov 2009 2 May 2010 6 8 2.32
-3.93% Jun 2009 Jun 2009 1 Aug 2009 2 3 2.04
-3.72% Jul 2005 Oct 2005 4 Oct 2006 12 16 2.29
-3.55% Oct 2002 Nov 2002 2 Apr 2003 5 7 1.97
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 77 4.7 Months 21.33%
 
DD = 0% 21.33%
 
0% < DD <= -5% 195 1.9 Months 54.02%
 
DD <= -5% 75.35%
 
-5% < DD <= -10% 51 7.1 Months 14.13%
 
DD <= -10% 89.47%
 
-10% < DD <= -15% 14 25.8 Months 3.88%
 
DD <= -15% 93.35%
 
-15% < DD <= -20% 2 180.5 Months 0.55%
 
DD <= -20% 93.91%
 
-20% < DD <= -25% 10 36.1 Months 2.77%
 
DD <= -25% 96.68%
 
-25% < DD <= -30% 10 36.1 Months 2.77%
 
DD <= -30% 99.45%
 
-30% < DD <= -35% 2 180.5 Months 0.55%
 
DD <= -35% 100.00%
 
-35% < DD <= -40% 0 - 0.00%
 
DD <= -40% 100.00%
 
-40% < DD <= -45% 0 - 0.00%
 
DD <= -45% 100.00%
 
-45% < DD <= -50% 0 - 0.00%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-33.61% Aug 1979 Sep 1981 26 Apr 1983 19 45 19.98
-23.67% Aug 2021 Oct 2022 15 in progress 15 30 14.05
-16.02% Dec 2012 Aug 2013 9 Aug 2014 12 21 7.48
-10.73% Oct 2010 Jan 2011 4 Sep 2011 8 12 5.92
-9.83% Mar 1987 Sep 1987 7 Sep 1988 12 19 5.68
-9.39% Jul 2016 Nov 2016 5 Dec 2017 13 18 3.87
-9.37% Feb 1994 Nov 1994 10 Mar 1995 4 14 5.14
-8.93% Mar 2020 Apr 2020 2 Nov 2020 7 9 3.74
-8.68% Feb 1984 May 1984 4 Aug 1984 3 7 3.62
-7.21% Feb 2008 Nov 2008 10 Feb 2009 3 13 3.75
-5.55% Feb 1999 Jan 2000 12 Jun 2000 5 17 3.00
-5.37% Jun 2003 Jul 2003 2 Dec 2003 5 7 2.58
-4.28% Feb 2015 Jun 2015 5 Nov 2015 5 10 2.43
-4.11% Aug 1992 Oct 1992 3 Dec 1992 2 5 2.10
-3.94% May 1983 May 1983 1 Sep 1983 4 5 2.69
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 208 2.7 Months 37.55%
 
DD = 0% 37.55%
 
0% < DD <= -5% 233 2.4 Months 42.06%
 
DD <= -5% 79.60%
 
-5% < DD <= -10% 48 11.5 Months 8.66%
 
DD <= -10% 88.27%
 
-10% < DD <= -15% 26 21.3 Months 4.69%
 
DD <= -15% 92.96%
 
-15% < DD <= -20% 12 46.2 Months 2.17%
 
DD <= -20% 95.13%
 
-20% < DD <= -25% 17 32.6 Months 3.07%
 
DD <= -25% 98.19%
 
-25% < DD <= -30% 5 110.8 Months 0.90%
 
DD <= -30% 99.10%
 
-30% < DD <= -35% 5 110.8 Months 0.90%
 
DD <= -35% 100.00%
 
-35% < DD <= -40% 0 - 0.00%
 
DD <= -40% 100.00%
 
-40% < DD <= -45% 0 - 0.00%
 
DD <= -45% 100.00%
 
-45% < DD <= -50% 0 - 0.00%
 
DD <= -50% 100.00%
 
-50% < DD <= -55% 0 - 0.00%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-50.38% Oct 1978 Sep 1981 36 Nov 1986 62 98 29.10
-32.05% Feb 2021 Oct 2023 33 in progress 3 36 20.35
-16.81% Dec 2012 Aug 2013 9 Dec 2014 16 25 7.69
-12.11% Mar 1987 Sep 1987 7 Jun 1989 21 28 7.16
-11.91% Oct 2010 Jan 2011 4 Dec 2011 11 15 6.65
-11.49% Feb 1994 Nov 1994 10 May 1995 6 16 6.18
-10.12% Dec 2006 Oct 2008 23 Feb 2009 4 27 4.47
-10.06% Jul 2016 Nov 2016 5 May 2019 30 35 4.88
-8.11% Feb 1999 Jan 2000 12 Dec 2000 11 23 4.40
-7.82% Mar 2020 Apr 2020 2 Nov 2020 7 9 3.26
-5.78% Jun 2003 Jul 2003 2 Feb 2004 7 9 2.82
-5.45% Feb 2015 Jun 2015 5 Dec 2015 6 11 3.15
-4.93% Aug 1989 Apr 1990 9 Jul 1990 3 12 2.16
-4.92% Aug 1992 Oct 1992 3 Feb 1993 4 7 2.26
-4.61% Mar 2004 May 2004 3 Jan 2005 8 11 2.56
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 104 5.3 Months 18.77%
 
DD = 0% 18.77%
 
0% < DD <= -5% 258 2.1 Months 46.57%
 
DD <= -5% 65.34%
 
-5% < DD <= -10% 74 7.5 Months 13.36%
 
DD <= -10% 78.70%
 
-10% < DD <= -15% 20 27.7 Months 3.61%
 
DD <= -15% 82.31%
 
-15% < DD <= -20% 12 46.2 Months 2.17%
 
DD <= -20% 84.48%
 
-20% < DD <= -25% 15 36.9 Months 2.71%
 
DD <= -25% 87.18%
 
-25% < DD <= -30% 28 19.8 Months 5.05%
 
DD <= -30% 92.24%
 
-30% < DD <= -35% 17 32.6 Months 3.07%
 
DD <= -35% 95.31%
 
-35% < DD <= -40% 10 55.4 Months 1.81%
 
DD <= -40% 97.11%
 
-40% < DD <= -45% 7 79.1 Months 1.26%
 
DD <= -45% 98.38%
 
-45% < DD <= -50% 8 69.3 Months 1.44%
 
DD <= -50% 99.82%
 
-50% < DD <= -55% 1 554.0 Months 0.18%
 
DD <= -55% 100.00%
 
-55% < DD <= -60% 0 - 0.00%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 

Rolling Returns

( more details)

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

VANECK VECTORS AMT-FREE LONG MUNICIPAL INDEX (MLN) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 February 1994 - 31 January 2024 (30 Years)
Data Source: 1 January 1978 - 31 January 2024 (~46 years)
Inflation Adjusted:
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -22.10 11/2021
10/2022
0.77$ -1.12 0.98$ 5.34 1.05$ 11.29 1.11$ 23.64 10/2008
09/2009
1.23$ 2.69 19.20%
2Y -10.60 11/2021
10/2023
0.79$ 1.63 1.03$ 5.20 1.10$ 8.55 1.17$ 14.97 02/2011
01/2013
1.32$ -3.65 9.79%
3Y -6.11 11/2020
10/2023
0.82$ 2.81 1.08$ 5.15 1.16$ 7.95 1.25$ 11.86 01/2009
12/2011
1.39$ -3.50 6.77%
5Y -1.44 11/2017
10/2022
0.93$ 3.59 1.19$ 5.40 1.30$ 6.88 1.39$ 9.12 03/2008
02/2013
1.54$ 1.15 1.66%
7Y -0.43 11/2016
10/2023
0.97$ 4.06 1.32$ 5.43 1.44$ 6.62 1.56$ 7.99 12/1994
11/2001
1.71$ 1.91 0.72%
10Y 0.93 11/2012
10/2022
1.09$ 4.53 1.55$ 5.59 1.72$ 6.19 1.82$ 7.25 12/1994
11/2004
2.01$ 2.95 0.00%
15Y 3.27 11/2007
10/2022
1.62$ 4.76 2.00$ 5.37 2.19$ 6.04 2.40$ 6.60 12/1994
11/2009
2.60$ 4.21 0.00%
20Y 3.40 11/2003
10/2023
1.95$ 4.08 2.22$ 5.43 2.87$ 5.95 3.17$ 6.47 12/1994
11/2014
3.50$ 3.90 0.00%
30Y 4.58 02/1994
01/2024
3.83$ 4.58 3.83$ 4.58 3.83$ 4.58 3.83$ 4.58 02/1994
01/2024
3.83$ 4.58 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
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Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -27.70 11/2021
10/2022
0.72$ -3.75 0.96$ 3.18 1.03$ 9.13 1.09$ 25.36 10/2008
09/2009
1.25$ -0.40 33.24%
2Y -16.04 11/2020
10/2022
0.70$ -0.43 0.99$ 2.83 1.05$ 6.47 1.13$ 14.50 10/2008
09/2010
1.31$ -8.00 20.18%
3Y -11.19 11/2020
10/2023
0.70$ 0.35 1.01$ 3.03 1.09$ 5.70 1.18$ 10.01 09/2013
08/2016
1.33$ -8.68 11.08%
5Y -5.09 11/2017
10/2022
0.77$ 1.20 1.06$ 3.18 1.16$ 4.56 1.24$ 7.15 03/2008
02/2013
1.41$ -2.89 9.97%
7Y -3.80 11/2016
10/2023
0.76$ 1.73 1.12$ 3.10 1.23$ 4.51 1.36$ 6.32 11/2008
10/2015
1.53$ -1.53 8.30%
10Y -1.57 11/2012
10/2022
0.85$ 1.96 1.21$ 3.35 1.38$ 3.98 1.47$ 4.69 07/2006
06/2016
1.58$ 0.16 5.81%
15Y 0.87 11/2007
10/2022
1.13$ 2.48 1.44$ 3.19 1.60$ 3.62 1.70$ 4.21 02/2000
01/2015
1.85$ 1.61 0.00%
20Y 0.80 11/2003
10/2023
1.17$ 1.50 1.34$ 3.24 1.89$ 3.60 2.02$ 4.05 12/1994
11/2014
2.21$ 1.29 0.00%
30Y 2.00 02/1994
01/2024
1.81$ 2.00 1.81$ 2.00 1.81$ 2.00 1.81$ 2.00 02/1994
01/2024
1.81$ 2.00 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -22.25 04/1979
03/1980
0.77$ -2.06 0.97$ 5.93 1.05$ 13.45 1.13$ 38.56 01/1982
12/1982
1.38$ 2.69 20.30%
2Y -17.99 09/1979
08/1981
0.67$ 1.38 1.02$ 6.07 1.12$ 10.82 1.22$ 24.30 10/1981
09/1983
1.54$ -3.65 11.89%
3Y -11.43 10/1978
09/1981
0.69$ 2.90 1.08$ 6.06 1.19$ 9.88 1.32$ 19.33 02/1982
01/1985
1.69$ -3.50 8.69%
5Y -1.44 11/2017
10/2022
0.93$ 3.69 1.19$ 6.18 1.34$ 9.11 1.54$ 19.01 02/1982
01/1987
2.38$ 1.15 1.21%
7Y -0.43 11/2016
10/2023
0.97$ 4.42 1.35$ 6.28 1.53$ 8.78 1.80$ 14.32 01/1982
12/1988
2.55$ 1.91 0.43%
10Y 0.93 11/2012
10/2022
1.09$ 4.97 1.62$ 6.16 1.81$ 8.61 2.28$ 12.61 01/1982
12/1991
3.27$ 2.95 0.00%
15Y 3.27 11/2007
10/2022
1.62$ 5.12 2.11$ 6.17 2.45$ 8.30 3.30$ 10.95 01/1982
12/1996
4.75$ 4.21 0.00%
20Y 3.40 11/2003
10/2023
1.95$ 5.26 2.78$ 6.35 3.42$ 8.03 4.68$ 9.82 09/1981
08/2001
6.51$ 3.90 0.00%
30Y 4.24 11/1993
10/2023
3.47$ 5.89 5.56$ 6.31 6.26$ 7.43 8.58$ 8.45 02/1982
01/2012
11.41$ 4.58 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -32.15 04/1979
03/1980
0.67$ -5.36 0.94$ 3.14 1.03$ 10.59 1.10$ 33.45 01/1982
12/1982
1.33$ -0.40 35.24%
2Y -26.68 09/1979
08/1981
0.53$ -1.06 0.97$ 3.20 1.06$ 7.88 1.16$ 19.70 10/1981
09/1983
1.43$ -8.00 20.94%
3Y -20.83 10/1978
09/1981
0.49$ 0.25 1.00$ 3.45 1.10$ 6.72 1.21$ 14.91 02/1982
01/1985
1.51$ -8.68 13.32%
5Y -7.48 01/1978
12/1982
0.67$ 1.27 1.06$ 3.50 1.18$ 5.75 1.32$ 15.13 02/1982
01/1987
2.02$ -2.89 11.34%
7Y -4.10 01/1978
12/1984
0.74$ 2.06 1.15$ 3.72 1.29$ 5.40 1.44$ 10.33 01/1982
12/1988
1.98$ -1.53 9.15%
10Y -1.57 11/2012
10/2022
0.85$ 2.14 1.23$ 3.70 1.43$ 4.91 1.61$ 8.37 01/1982
12/1991
2.23$ 0.16 5.53%
15Y 0.87 11/2007
10/2022
1.13$ 2.42 1.43$ 3.55 1.68$ 4.60 1.96$ 7.13 01/1982
12/1996
2.81$ 1.61 0.00%
20Y 0.80 11/2003
10/2023
1.17$ 2.58 1.66$ 3.47 1.97$ 4.76 2.53$ 6.30 10/1981
09/2001
3.39$ 1.29 0.00%
30Y 1.67 11/1993
10/2023
1.64$ 2.25 1.94$ 3.64 2.92$ 4.33 3.56$ 5.31 02/1982
01/2012
4.72$ 2.00 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF: Rolling Returns page.

Seasonality

In which months is it better to invest in VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.47
60%
-0.85
40%
-1.00
60%
-1.34
60%
2.18
80%
-0.35
80%
1.60
100%
-0.77
40%
-2.42
20%
-1.06
20%
4.46
80%
0.83
80%
Best 4.4
2023
1.8
2020
2.9
2019
1.4
2021
5.9
2020
1.3
2020
4.9
2022
2.9
2019
0.1
2020
0.2
2019
9.7
2023
3.8
2023
Worst -4.4
2022
-3.4
2023
-6.3
2020
-6.3
2022
-0.8
2023
-4.9
2022
0.2
2023
-4.0
2022
-5.9
2022
-2.9
2023
-0.1
2019
-0.7
2022
Monthly Seasonality over the period Feb 1978 - Jan 2024
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.47
70%
-0.40
50%
-0.14
80%
-0.58
60%
1.71
80%
0.03
70%
1.04
70%
-0.11
40%
-1.35
30%
-0.56
40%
1.81
70%
1.35
90%
Best 4.4
2023
1.9
2014
2.9
2019
1.7
2014
5.9
2020
2.7
2016
4.9
2022
2.9
2019
1.2
2015
0.9
2014
9.7
2023
3.8
2023
Worst -4.4
2022
-3.4
2023
-6.3
2020
-6.3
2022
-1.0
2015
-4.9
2022
-0.2
2018
-4.0
2022
-5.9
2022
-2.9
2023
-7.1
2016
-0.7
2022
Monthly Seasonality over the period Feb 1978 - Jan 2024
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.24
77%
0.32
65%
-0.38
50%
0.54
67%
0.98
74%
0.26
65%
0.88
78%
0.29
59%
0.19
52%
-0.05
52%
0.74
61%
0.72
76%
Best 5.6
2009
4.9
1993
3.0
2008
9.1
1980
6.2
1980
3.9
1984
5.2
1984
7.6
1982
6.4
2013
3.7
1981
9.7
2023
4.8
1982
Worst -4.4
2022
-8.6
1980
-8.3
1980
-7.2
1987
-7.9
1984
-6.3
2013
-4.3
2003
-10.5
1981
-5.9
2022
-6.9
1979
-7.1
2016
-8.2
1981
Monthly Seasonality over the period Feb 1978 - Jan 2024

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the VanEck Vectors AMT-Free Long Municipal Index (MLN) ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

VANECK VECTORS AMT-FREE LONG MUNICIPAL INDEX (MLN) ETF
Monthly Returns Distribution
Data Source: 1 February 1994 - 31 January 2024 (30 Years)
Data Source: 1 January 1978 - 31 January 2024 (~46 years)
229 Positive Months (64%) - 131 Negative Months (36%)
358 Positive Months (65%) - 195 Negative Months (35%)
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(Scroll down to see all data)
Investment Returns, up to December 2008, have been derived using the historical series of equivalent ETFs / Assets.
You can find additional information on extended Data Sources here.

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