Key Takeaways:
- YTD realized volatility for broad investment grade munis is roughly 4–6%, versus 13–20%+ for major equity indices.
- Muni Sharpe ratios have held up well, supported by low volatility and solid underlying credit quality.
- Tax-equivalent yields (TEY) remain comparatively attractive on both investment grade and high yield munis.
vaneck.com
by James Colby
Senior Municipal Strategist
June 17, 2026