AVMU vs SCMB: Grades, Fees and Holdings Compared

Avantis Core Municipal Fixed Income ETF

AVMUBNYSE Arca

Schwab Municipal Bond ETF

SCMBANYSE Arca

Overlap

No data

Expense ratio

SCMB −0.12pt a year

AVMU0.15%SCMB0.03%

Avg volume · 30D

SCMB 121.9×the volume

AVMU26.9KSCMB3.28M

3Y return · a year

AVMU +0.1pt

AVMU+4.2%SCMB+4.1%

AVMU vs SCMB Performance

Oct 31, 2025 – Oct 30, 2026

0.0%AVMU−0.6%SCMB

Expense ratio: AVMU 0.15%; SCMB 0.03%, better
Fund size: AVMU $172M; SCMB $4.07B
1Y total return: AVMU 0.0%, better; SCMB −0.6%
Yield (12M): AVMU 3.59%; SCMB 3.70%, better
Holdings: AVMU 575; SCMB 8203
Avg volume (30D): AVMU 26.9K sh; SCMB 3.28M sh, better
NAV per share: AVMU $44.60; SCMB $24.87
52W range

ETF.net Grade

Pillar letters and Scores for AVMU, SCMB, with each pillar’s weight
Pillar	AVMU	SCMB
Cost30% weight	A86	A99Higher
Mission25% weight	A89	A96Higher
Risk15% weight	C44	B57Higher
Tradability15% weight	D27	A82Higher
Holdings10% weight	B66	A81Higher
Durability5% weight	B59	A72Higher

Rank among Other Municipal Bond funds

How we build Categories ›

Same Category. AVMU and SCMB are both graded against the same 63 Other Municipal Bond funds, so their Grades compare head to head.

Other Municipal Bond⁠

Category · 63 funds

See all 63 ›

SCMB ranks 2nd and AVMU 19th of 63 funds in the Other Municipal Bond Category.

Rank 1AVTEBVanguard Tax-Exempt Bond ETFScore 88
Rank 2AMUBiShares National Muni Bond ETFScore 86
Rank 2ASCMBSchwab Municipal Bond ETFScore 86
Rank 4AVCRMVanguard Core Tax-Exempt Bond EScore 85
Rank 17BPZAInvesco National AMT-Free Municipal Bond ETFScore 69
Rank 19BAVMUAvantis Core Municipal Fixed Income ETFScore 68
Rank 20BCATFAmerican Century California Municipal Bond ETFScore 66

Our read on each fund

ETF.net Research

AVMUBAvantis Core Municipal Fixed Income ETF

SCMBASchwab Municipal Bond ETF

In short

AVMU Active muni management at index-fund pricing. Avantis runs a broad investment-grade portfolio of roughly 500 municipal bonds for 0.15%, half the typical fee in its category, aimed at income exempt from federal tax.

SCMB Schwab's take on the core muni sleeve: three basis points, thousands of AMT-free bonds from across the country, and a monthly distribution. Bottom-of-the-table pricing, no frills attached.

Stated mandate

AVMU The fund seeks income exempt from federal income tax by investing broadly in investment-grade municipal debt. It uses active portfolio oversight and current-yield information while pursuing diversification and controlled turnover.

SCMB The fund seeks to track, before fees and expenses, the total return of an index representing the U.S. AMT-free municipal bond market.

Why people hold it

AVMU 0.15% a year for an actively run muni portfolio, against a category median near 0.30%. A manager for close to what many funds charge to follow an index.
Broad by design: roughly 500 investment-grade munis, with diversification and controlled turnover written into the stated mandate rather than left to a manager's mood.avantisinvestors.com
The portfolio does what the prospectus says: US investment-grade municipal debt, federal tax-exempt income, and one of the stronger showings in a crowded muni peer group.

SCMB Three basis points a year, against a 0.30% median for muni bond funds. Among the top-graded names in the category, only Vanguard's VTEB matches that fee.
Follows the ICE AMT-Free Core U.S. National Municipal Index across thousands of bonds and issuers, so no single borrower or state drives the portfolio.
Plain passive plumbing done well: it stays close to its index, trades actively, and pays monthly. One of the stronger implementations in the muni aisle.

Worth knowing

AVMU Thinly traded with a modest asset base, so bid-ask spreads can run wider than at index heavyweights like VTEB and MUB.
Cheap for active, not cheap outright: index rivals VTEB and SCMB charge 0.03%. You are paying up for the oversight.
The exemption is federal only, and municipal bonds still carry interest-rate and credit risk. A 2020 launch means a shorter track record than the muni mainstays.avantisinvestors.com

SCMB Launched in 2022, so its live record is shorter than muni staples like MUB and VTEB, even though the strategy is the same broad-market idea.
Bond math still applies. This is a portfolio of municipal bonds, so share prices move opposite to interest rates.
National in scope, not single-state like NYF, so it is not built around any one state's tax rules.

Full AVMU profile⁠

Full SCMB profile⁠

AVMU vs SCMB Holdings

How AVMU and SCMB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile100%

Sector

No Sector split for AVMU and SCMB.

Country, concentration and asset class

Country by domicile

Country weights in AVMU and SCMB, widest gap first
Country	More in AVMUMore in SCMB	AVMU	SCMB
United States	Same weight	100.0%	100.0%
Sweden	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

AVMU11.1%
SCMB1.6%

Securities held

AVMU554
SCMB8,203

Asset class

AVMU: Fixed Income
SCMB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. AVMU holds 554 securities, SCMB 8,203.

All 549 AVMU holdings⁠All 8,203 SCMB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AVMU vs SCMB Cost

Overpaying AVMU vs SCMB

$2,499

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

AVMU 0.15%
$3,137
SCMB 0.03%
$638

Amount$10,000

Years30 years

Cost over time

AVMU 0.15%
SCMB 0.03%
Overpaying

Year by year

Year	AVMU	SCMB	Overpaying
10	$274	$55	$219
20	$1,071	$216	$855
30	$3,137	$638	$2,499

Expense ratio

0.15%AVMU
0.03%SCMB, cheaper

SCMB0.03%AVMU0.15%

0.03%4.59%

Middle half of Other Municipal Bond funds
Median 0.30%

SCMB cheapest of 63 funds

AVMU 9th cheapest of 63 funds

AVMU vs SCMB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AVMU 3.59%; SCMB 3.70%, better
Payout (12M): AVMU $1.60; SCMB $0.92
Last payment: AVMU $0.14; SCMB $0.09
Ex-dividend: AVMU Oct 6, 2026; SCMB Oct 1, 2026
Paid on: AVMU Oct 8, 2026; SCMB Oct 7, 2026
Frequency: AVMU Monthly; SCMB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

AVMUMonthly · 45 paymentsAll AVMU payments⁠

SCMBMonthly · 45 paymentsAll SCMB payments⁠

AVMU vs SCMB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AVMU 6.6%SCMB 5.9%, better
Return per unit of riskSharpe ratio, 3 years: AVMU −0.03, betterSCMB −0.04
Worst fallMax drawdown, 5 years: AVMU −11.8%SCMB −6.7%since Oct 2022
Market sensitivityBeta, 5 years: AVMU 0.93SCMB 0.96; Market = 1

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