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Launched · SEC filings

Eaton Vance Short Duration Municipal Income ETF

EVSMNYSE ArcaEaton VanceB

$49.85+0.01 (+0.01%)

As of Nov 2, 2026, 3:59 PM ET

B68/ 100

Rank 10 of 28 in Short-Duration Municipal Bonds

B68/100Rank 10 of 28inShort-Duration Municipal Bonds
Intraday session: up, 79 prints from 49.85 to 49.85. Range 49.80 to 49.95. Use the arrow keys to read each point.49.8049.8849.9049.9249.9510 AM12 PM2 PM4 PM
Expense ratio
0.19%
Fund size
$1.11B
1Y total return
+2.1%
Yield · Last 12 months
3.25%
Holdings
452
Avg volume · 30D
222K sh
52W range
low $49.03high $50.88
Launched
Filings
SEC EDGAR

The ETF.net EVSM Grade

B

Score 68 out of 100

Category
Short-Duration Municipal Bonds⁠
Rank
10 of 28
Six-pillar profile for EVSM. Scores out of 100: Cost 61, Risk 42, Mission 100, Tradability 59, Holdings 72, Durability 64. Strongest: Mission (100). Weakest: Risk (42). Leans toward Mission.

Score 68 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B61 out of 100
    Rank 10 of 28

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 27

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C42 out of 100
    Rank 22 of 27

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B59 out of 100
    Rank 12 of 28

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A72 out of 100
    Rank 8 of 28

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B64 out of 100
    Rank 13 of 28

Our read on EVSM

ETF.net Research

In short

BTax-free monthly income with the interest-rate dial turned down. EVSM's own mandate keeps average duration under three years, and it charges well under the typical muni bond ETF, an unusual combination in a fee-sensitive category.

Stated mandate

The Fund seeks current income exempt from regular federal income tax. It invests as a short-duration municipal strategy, normally maintaining a dollar-weighted average portfolio duration below three years.

Why people hold it

  • 0.19% a year, versus a roughly 0.30% median for muni bond ETFs. When most of the return is coupon, the fee gap is real money.
  • The short leash is contractual, not a style drift: the fund normally keeps dollar-weighted average duration below three years, measured against a 1-3 year municipal index.
  • Income is the stated job, and it arrives monthly. The objective is current income exempt from regular federal income tax.
  • Trading since 2018 under the Eaton Vance banner, with a solid asset base and a standing in the upper half of a crowded muni bond ETF field.

Worth knowing

  • Short is the whole point, which means skipping the longer end of the muni curve where more yield typically sits.
  • Broad muni index funds undercut it on price: VTEB and MUB run at 0.03% and 0.05%. They also span the full maturity curve rather than the short end.
  • Volume is moderate rather than heavy, which is typical for a short-duration muni fund of this size.

EVSM Performance

Launched Dec 19, 2018

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
EVSM$10,206
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. EVSM $10,206. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for EVSM. Periods over one year show the average yearly return.
PeriodEVSM
Year to date+1.4%
1 month+1.6%
3 months+0.4%
1 year+2.1%
3 yearsHistory unavailableper yearNo data
5 yearsHistory unavailableper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for EVSM
YearReturn barEVSM
2026 YTD+1.4%
2025+4.2%
2024+2.6%

History from Mar 26, 2024

EVSM in the news

EVSM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.25%Last 12 months
Payout per share
$1.62Last 12 months
Upcoming payment
$0.12 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2024–2026

One bar per payment. 32 payments from 2024 to 2026 YTD. Mar 28, 2024 $0.15; Apr 30, 2024 $0.15; May 31, 2024 $0.16; Jun 28, 2024 $0.15; Jul 31, 2024 $0.16; Aug 30, 2024 $0.16; Sep 30, 2024 $0.14; Oct 31, 2024 $0.15; Nov 29, 2024 $0.13; Dec 23, 2024 $0.14; Jan 31, 2025 $0.14; Feb 28, 2025 $0.13; Mar 31, 2025 $0.14; Apr 30, 2025 $0.13; May 30, 2025 $0.14; Jun 30, 2025 $0.13; Jul 31, 2025 $0.13; Aug 29, 2025 $0.13; Sep 30, 2025 $0.12; Oct 31, 2025 $0.13; Nov 28, 2025 $0.12; Dec 23, 2025 $0.13; Jan 30, 2026 $0.11; Feb 27, 2026 $0.12; Mar 31, 2026 $0.13; Apr 30, 2026 $0.13; May 29, 2026 $0.13; Jun 30, 2026 $0.13; Jul 31, 2026 $0.13; Aug 31, 2026 $0.12; Sep 30, 2026 $0.12; Oct 30, 2026 $0.12. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Oct 30, 2026Pays Nov 5, 2026$0.12
Sep 30, 2026Oct 6, 2026$0.12
Aug 31, 2026Sep 4, 2026$0.12
Jul 31, 2026Aug 6, 2026$0.13
Jun 30, 2026Jul 7, 2026$0.13
May 29, 2026Jun 4, 2026$0.13
Apr 30, 2026May 6, 2026$0.13
Mar 31, 2026Apr 7, 2026$0.13
Feb 27, 2026Mar 5, 2026$0.12
Jan 30, 2026Feb 5, 2026$0.11
Dec 23, 2025Dec 30, 2025$0.13
Nov 28, 2025Dec 4, 2025$0.12

See all 32 payments⁠

$10,000 in EVSM 1 year ago paid $322 in dividends.⁠

EVSM Risk

Risk pillarC42 out of 100Rank 22 of 27 in Short-Duration Municipal Bonds
How much the fund’s monthly returns vary, scaled to a year.
2.0%
Annualised · 31 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−0.56
vs 3-month T-bills · 31 months to Oct 2026
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.

The largest fall from a peak to the low that followed.
−2.0%
31 months · trough Sep 2026
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.

How strongly the fund’s returns move with its asset-class index.
0.24
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

EVSM Cost

Compare EVSM and VTES

Overpaying vs VTES, tied cheapest in Short-Duration Municipal Bonds

$2,892

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • EVSM 0.19%

    $3,952

  • VTES 0.05% Tied cheapest

    $1,060

$10,000
30 years

Cost over time

  • EVSM 0.19%
  • VTES 0.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530EVSM $3,952VTES $1,060

Year by year

YearEVSMVTESOverpaying
10$347$92$255
20$1,351$360$991
30$3,952$1,060$2,892

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