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FSMB vs VSDM

First Trust Short Duration Managed Municipal ETF

FSMBCNYSE Arca

Vanguard Short Duration Tax-Exempt Bond ETF

VSDMACboe

Overlap

No data

Expense ratio

VSDM −0.43pt a year

FSMB0.55%VSDM0.12%

Avg volume · 30D

VSDM 1.3×the volume

FSMB198KVSDM258K

FSMB vs VSDM Performance

Oct 31, 2025 – Oct 30, 2026

+1.8%FSMB+2.0%VSDM

Oct 31, 2025 to Oct 30, 2026. FSMB +1.8%. VSDM +2.0%. Use the arrow keys to read each point.−0.5%0%0.5%1%Oct 2025Apr 2026Oct 2026
Expense ratio
FSMB 0.55%
VSDM 0.12%, better
Fund size
FSMB $660M
VSDM $1.2B
1Y total return
FSMB +1.8%
VSDM +2.0%, better
Yield (12M)
FSMB 3.22%, better
VSDM 3.12%
Holdings
FSMB 581
VSDM 3315
Avg volume (30D)
FSMB 198K sh
VSDM 258K sh, better
NAV per share
FSMB $19.77
VSDM $75.79
52W range

ETF.net Grade

FSMB: Cost 0, Risk 46, Mission 100, Tradability 64, Holdings 79, Durability 70. VSDM: Cost 85, Risk 48, Mission 100, Tradability 78, Holdings 75, Durability 62.
Pillar letters and Scores for FSMB, VSDM, with each pillar’s weight
PillarFSMBVSDM
Cost30% weightF0A85Higher
Mission25% weightA100A100
Risk15% weightC46C48Higher
Tradability15% weightB64A78Higher
Holdings10% weightA79HigherA75
Durability5% weightA70HigherB62

Rank among Short-Duration Municipal Bonds funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FSMB and VSDM are both graded against the same 27 Short-Duration Municipal Bonds funds, so their Grades compare head to head.

Short-Duration Municipal Bonds⁠

Category · 27 funds
See all 27 ›

VSDM ranks 2nd and FSMB 24th of 27 funds in the Short-Duration Municipal Bonds Category.

  1. Rank 1AVTESVanguard Short-Term Tax-Exempt Bond ETFScore 81
  2. Rank 2ASUBiShares Short-Term National Muni Bond ETFScore 80
  3. Rank 2AVSDMVanguard Short Duration Tax-Exempt Bond ETFScore 80
  4. Rank 4ATAXSNorthern Trust Short-Term Tax-Exempt Bond ETFScore 77
  5. Rank 22CTAXXBondBloxx IR+M Tax-Aware Short Duration ETFScore 53
  6. Rank 24CFSMBFirst Trust Short Duration Managed Municipal ETFScore 52
  7. Rank 24CZMUNF/m Ultrashort Tax-Free Municipal ETFScore 52

Our read on each fund

ETF.net Research

FSMBCFirst Trust Short Duration Managed Municipal ETF

VSDMAVanguard Short Duration Tax-Exempt Bond ETF

In short

FSMB Most short-duration muni ETFs are plain index trackers. FSMB is run by hand, and its prospectus lets up to 35% of net assets sit in below-investment-grade munis. Federally tax-exempt income, paid monthly, at a 0.55% fee.

VSDM No data

Stated mandate

FSMB The fund seeks federally tax-exempt income while emphasizing capital preservation.

VSDM No data

Why people hold it

  • FSMB An active manager picking short-dated munis instead of copying an index, with prospectus room for up to 35% of net assets in below-investment-grade paper.ftportfolios.com
  • Spreads its bets across roughly 600 bonds and pays federally tax-exempt income monthly.
  • Listed in 2018 and has stuck closely to its stated short-duration municipal mandate ever since.

VSDM No data

Worth knowing

  • FSMB The fee is 0.55%, above the category norm, while index peers VTES (0.05%) and SUB (0.07%) charge a fraction of that.
  • That credit latitude cuts both ways: capital preservation is the stated aim, not a floor, and lower-rated munis can move the price.ftportfolios.com
  • Moderately traded rather than heavily traded, so spreads and trade timing matter more than in the category's biggest index funds.

VSDM No data

Full FSMB profile⁠

Full VSDM profile⁠

FSMB vs VSDM 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.

FSMB vs VSDM Cost

Overpaying FSMB vs VSDM

$8,384

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

  • FSMB 0.55%

    $10,904

  • VSDM 0.12%

    $2,520

$10,000
30 years

Cost over time

  • FSMB 0.55%
  • VSDM 0.12%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530FSMB $10,904VSDM $2,520

Year by year

YearFSMBVSDMOverpaying
10$988$220$768
20$3,790$859$2,931
30$10,904$2,520$8,384

Expense ratio

  • 0.55%FSMB
  • 0.12%VSDM, cheaper
  • Middle half of Short-Duration Municipal Bonds funds
  • Median 0.21%

VSDM 5th cheapest of 27 funds

FSMB 27th cheapest of 27 funds

FSMB vs VSDM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FSMB 3.22%, better
VSDM 3.12%
Payout (12M)
FSMB $0.64
VSDM $2.37
Last payment
FSMB $0.05
VSDM $0.19
Ex-dividend
FSMB Oct 21, 2026
VSDM Oct 1, 2026
Paid on
FSMB Oct 30, 2026
VSDM Oct 5, 2026
Frequency
FSMB Monthly
VSDM Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FSMBMonthly · 46 paymentsAll FSMB payments⁠
One bar per payment. 46 payments from 2023 to 2026 YTD. Jan 24, 2023 $0.04; Feb 22, 2023 $0.04; Mar 24, 2023 $0.04; Apr 21, 2023 $0.04; May 23, 2023 $0.04; Jun 27, 2023 $0.04; Jul 21, 2023 $0.04; Aug 22, 2023 $0.04; Sep 22, 2023 $0.04; Oct 24, 2023 $0.04; Nov 21, 2023 $0.04; Dec 22, 2023 $0.04; Jan 23, 2024 $0.04; Feb 21, 2024 $0.04; Mar 21, 2024 $0.05; Apr 23, 2024 $0.05; May 21, 2024 $0.05; Jun 27, 2024 $0.05; Jul 23, 2024 $0.05; Aug 21, 2024 $0.05; Sep 26, 2024 $0.05; Oct 22, 2024 $0.05; Nov 21, 2024 $0.05; Dec 13, 2024 $0.05; Jan 22, 2025 $0.05; Feb 21, 2025 $0.05; Mar 27, 2025 $0.05; Apr 22, 2025 $0.05; May 21, 2025 $0.05; Jun 26, 2025 $0.05; Jul 22, 2025 $0.05; Aug 21, 2025 $0.05; Sep 25, 2025 $0.05; Oct 21, 2025 $0.05; Nov 21, 2025 $0.05; Dec 12, 2025 $0.05; Jan 21, 2026 $0.05; Feb 20, 2026 $0.05; Mar 26, 2026 $0.05; Apr 21, 2026 $0.05; May 21, 2026 $0.05; Jun 25, 2026 $0.05; Jul 21, 2026 $0.05; Aug 21, 2026 $0.05; Sep 24, 2026 $0.05; Oct 21, 2026 $0.05. Use the arrow keys to read each point.$0$0.2520232026YTD
VSDMMonthly · 22 paymentsAll VSDM payments⁠
One bar per payment. 22 payments from 2023 to 2026 YTD. Dec 24, 2024 $0.26; Feb 3, 2025 $0.20; Mar 3, 2025 $0.20; Apr 1, 2025 $0.16; May 1, 2025 $0.19; Jun 2, 2025 $0.20; Jul 1, 2025 $0.19; Aug 1, 2025 $0.19; Sep 2, 2025 $0.20; Oct 1, 2025 $0.20; Nov 3, 2025 $0.20; Dec 1, 2025 $0.20; Dec 18, 2025 $0.20; Feb 2, 2026 $0.19; Mar 2, 2026 $0.20; Apr 1, 2026 $0.20; May 1, 2026 $0.20; Jun 1, 2026 $0.20; Jul 1, 2026 $0.20; Aug 3, 2026 $0.20; Sep 1, 2026 $0.20; Oct 1, 2026 $0.19. Use the arrow keys to read each point.$0$0.2520232026YTD

FSMB vs VSDM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FSMB 2.5%VSDM 2.9%since Dec 2024
Return per unit of riskSharpe ratio, 3 years
FSMB −0.27VSDM −0.26since Dec 2024
Worst fallMax drawdown, 5 years
FSMB −5.9%VSDM −2.8%since Nov 2024
Market sensitivityBeta, 5 years
FSMB 0.34VSDM 0.09

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