VanEck Short Muni ETF (SMB) IV/HV History
Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.
VanEck Short Muni ETF (SMB) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $304.0M, listed on CBOE, carrying a beta of 0.34 to the broader market. The VanEck Short Muni ETF (SMB) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Short AMT-Free Broad National Municipal Index (MBNS), which is intended to track the overall performance of the U. public since 2008-02-28.
Snapshot as of May 15, 2026.
- Spot Price
- $17.23
- ATM IV
- 28.9%
- HV 20-Day
- 1.3%
- HV 60-Day
- 2.0%
- IV Rank
- 8.1%
- IV Percentile
- 33.3%
As of May 15, 2026, VanEck Short Muni ETF (SMB) ATM implied volatility is 28.9%. 20-day realized volatility is 1.3%, producing an IV-HV spread of +27.6 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 8.1%.
How SMB iv/hv history Data Feeds Strategy Selection
Strategy selection on VanEck Short Muni ETF options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 28.9% and dealer gamma exposure is negative, so dealer hedging amplifies directional moves. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
Learn how implied vs realized volatility is reported and how to read the data →
Frequently asked SMB iv/hv history questions
- Is SMB options pricing rich or cheap right now?
- As of May 15, 2026, VanEck Short Muni ETF (SMB) ATM IV is 28.9% against 20-day realized volatility of 1.3%. IV rank is 8.1%. SMB options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 27.6 vol points.
- What is the SMB variance risk premium?
- The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. SMB is currently priced consistently with this premium, which is one input to whether short-vol or long-vol structures carry their typical edge.
- What does SMB IV rank mean for strategy selection?
- IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. SMB's current rank of 8.1% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.