---
ticker: "VSDM"
name: "Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF"
url: "https://etf.net/etf/VSDM"
grade: "A"
score: 75
graded_at: "2026-10-12"
category: "Short-Duration Municipal Bonds"
category_rank: "4 of 28"
methodology: "https://etf.net/methodology"
---

# VSDM: Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF

Grade **A**, Score 75 of 100. Rank 4 of 28 in Short-Duration Municipal Bonds.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 85 | 5 of 28 |
| Mission | 100 | 1 of 27 |
| Risk | 43 | 18 of 27 |
| Tradability | 59 | 11 of 28 |
| Holdings | 72 | 7 of 28 |
| Durability | 61 | 15 of 28 |

## Top holdings

The fund holds 3104 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Vanguard Municipal Low Duration Fund 12/31/2049 | 2.09% |
| 2 | — | US Dollar | 0.61% |
| 3 | — | California Community Choice Financing Authority 5.50% 05/01/2054 | 0.49% |
| 4 | — | California Community Choice Financing Authority 5.00% 07/01/2053 | 0.43% |
| 5 | — | Southeast Energy Authority A Cooperative District 5.00% 10/01/2055 | 0.43% |
| 6 | — | New Jersey Transportation Trust Fund Authority 5.00% 12/15/2034 | 0.36% |
| 7 | — | Rutherford County Health & Educational Facilities Board 5.00% 11/15/2048 | 0.33% |
| 8 | — | Florida Municipal Power Agency 4.00% 10/01/2030 | 0.33% |
| 9 | — | California Community Choice Financing Authority 4.00% 02/01/2052 | 0.33% |
| 10 | — | Black Belt Energy Gas District 5.00% 10/01/2055 | 0.33% |
| 11 | — | Lower Colorado River Authority 5.00% 05/15/2045 | 0.33% |
| 12 | — | Energy Southeast A Cooperative District 5.00% 11/01/2033 | 0.31% |
| 13 | — | Black Belt Energy Gas District 5.00% 10/01/2033 | 0.31% |
| 14 | — | Texas Municipal Gas Acquisition & Supply Corp IV 5.50% 01/01/2054 | 0.31% |
| 15 | — | Southern California Public Power Authority 5.00% 07/01/2053 | 0.30% |
| 16 | — | Main Street Natural Gas Inc 5.00% 06/01/2053 | 0.30% |
| 17 | — | Southern California Public Power Authority 5.00% 11/01/2033 | 0.29% |
| 18 | — | California Community Choice Financing Authority 5.00% 02/01/2054 | 0.28% |
| 19 | — | California Community Choice Financing Authority 5.00% 02/01/2031 | 0.28% |
| 20 | — | Lower Colorado River Authority 5.00% 05/15/2039 | 0.27% |
| 21 | — | Southern California Public Power Authority 5.00% 04/01/2055 | 0.26% |
| 22 | — | California Community Choice Financing Authority 4.00% 05/01/2053 | 0.26% |
| 23 | — | Southeast Energy Authority A Cooperative District 5.25% 03/01/2055 | 0.25% |
| 24 | — | California Community Choice Financing Authority 5.00% 01/01/2055 | 0.25% |
| 25 | — | Washington Health Care Facilities Authority 5.00% 08/15/2055 | 0.25% |
| 26 | — | Kentucky Public Energy Authority 5.00% 06/01/2034 | 0.25% |
| 27 | — | New York City Housing Development Corp 3.73% 05/01/2063 | 0.24% |
| 28 | — | Metropolitan Transportation Authority 5.00% 11/15/2045 | 0.24% |
| 29 | — | New York State Dormitory Authority 5.00% 02/15/2034 | 0.24% |
| 30 | — | School District of Broward County/FL 5.00% 07/01/2033 | 0.24% |

Source: etf.net, https://etf.net/etf/VSDM. Please cite the page URL.