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FTMS vs VSDM

Franklin Short-Term Municipal Income ETF

FTMSBNYSE Arca

Vanguard Short Duration Tax-Exempt Bond ETF

VSDMACboe

Overlap

No data

Expense ratio

VSDM −0.09pt a year

FTMS0.21%VSDM0.12%

Avg volume · 30D

VSDM 1.1×the volume

FTMS246KVSDM258K

FTMS vs VSDM Performance

Oct 31, 2025 – Oct 30, 2026

+2.3%FTMS+2.0%VSDM

Oct 31, 2025 to Oct 30, 2026. FTMS +2.3%. VSDM +2.0%. Use the arrow keys to read each point.−0.5%0%0.5%1%1.5%Oct 2025Apr 2026Oct 2026
Expense ratio
FTMS 0.21%
VSDM 0.12%, better
Fund size
FTMS $263M
VSDM $1.2B
1Y total return
FTMS +2.3%, better
VSDM +2.0%
Yield (12M)
FTMS No data
VSDM 3.12%
Holdings
FTMS 288
VSDM 3315
Avg volume (30D)
FTMS 246K sh
VSDM 258K sh, better
NAV per share
FTMS $9.85
VSDM $75.79
52W range

ETF.net Grade

FTMS: Cost 52, Risk 48, Mission 100, Tradability 41, Holdings 34, Durability 67. VSDM: Cost 85, Risk 48, Mission 100, Tradability 78, Holdings 75, Durability 62.
Pillar letters and Scores for FTMS, VSDM, with each pillar’s weight
PillarFTMSVSDM
Cost30% weightC52A85Higher
Mission25% weightA100A100
Risk15% weightC48C48
Tradability15% weightC41A78Higher
Holdings10% weightD34A75Higher
Durability5% weightB67HigherB62

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. FTMS 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 FTMS 15th 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 14BTMNST. Rowe Price Short Municipal Income ETFScore 61
  6. Rank 15BFTMSFranklin Short-Term Municipal Income ETFScore 60
  7. Rank 15BTAFIAB Tax-Aware Short Duration Municipal ETFScore 60

Our read on each fund

ETF.net Research

FTMSBFranklin Short-Term Municipal Income ETF

VSDMAVanguard Short Duration Tax-Exempt Bond ETF

In short

FTMS The ETF rebuild of a short-muni strategy that has been running since 2013, managers intact. Active bond picking in an aisle where most rivals track an index: investment grade, three years or less, monthly income exempt from federal tax.

VSDM No data

Stated mandate

FTMS The fund seeks a high level of current income exempt from federal income tax, consistent with preserving capital.

VSDM No data

Why people hold it

  • FTMS Actively managed rather than index-tracking: Franklin's muni team picks bonds across many states and sectors, mainly investment grade with maturities of three years or less.sec.govfranklintempleton.com
  • Fee is 0.21% net of a waiver through March 31, 2027 (0.22% gross), near the category median for short-term muni funds.
  • Pays monthly, with roughly 300 positions spread across issuers and sectors instead of a concentrated handful.
  • Continuity through the wrapper change: the portfolio managers carried over from the predecessor fund, one of them on the strategy since 2016.sec.gov

VSDM No data

Worth knowing

  • FTMS Index rivals undercut it on price: VTES charges 0.05% and SUB 0.07%. Active security selection is what you are paying the difference for.
  • Moderately traded rather than one of the category's heavyweights, so the spread at the moment you trade deserves a look.
  • Interest is exempt from federal income tax, but some holdings can pay interest subject to the AMT, and state and local taxes may still apply.sec.govfranklintempleton.com

VSDM No data

Full FTMS profile⁠

Full VSDM profile⁠

FTMS 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.

FTMS vs VSDM Cost

Overpaying FTMS vs VSDM

$1,837

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

  • FTMS 0.21%

    $4,357

  • VSDM 0.12%

    $2,520

$10,000
30 years

Cost over time

  • FTMS 0.21%
  • VSDM 0.12%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K$5K051015202530FTMS $4,357VSDM $2,520

Year by year

YearFTMSVSDMOverpaying
10$383$220$163
20$1,491$859$632
30$4,357$2,520$1,837

Expense ratio

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

VSDM 5th cheapest of 27 funds

FTMS 14th cheapest of 27 funds

FTMS vs VSDM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FTMS No data
VSDM 3.12%
Payout (12M)
FTMS No data
VSDM $2.37
Last payment
FTMS $0.03
VSDM $0.19
Ex-dividend
FTMS Oct 1, 2026
VSDM Oct 1, 2026
Paid on
FTMS Oct 6, 2026
VSDM Oct 5, 2026
Frequency
FTMS Monthly
VSDM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

FTMSMonthly · 11 paymentsAll FTMS payments⁠
One bar per payment. 11 payments from 2024 to 2026 YTD. Dec 1, 2025 $0.03; Dec 19, 2025 $0.03; Feb 2, 2026 $0.03; Mar 2, 2026 $0.03; Apr 1, 2026 $0.03; May 1, 2026 $0.03; Jun 1, 2026 $0.03; Jul 1, 2026 $0.03; Aug 3, 2026 $0.03; Sep 1, 2026 $0.03; Oct 1, 2026 $0.03. Use the arrow keys to read each point.$0$0.252026YTD
VSDMMonthly · 22 paymentsAll VSDM payments⁠
One bar per payment. 22 payments from 2024 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$0.252026YTD

FTMS vs VSDM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FTMS 2.8%since Nov 2025VSDM 2.9%since Dec 2024
Return per unit of riskSharpe ratio, 3 years
FTMS −0.50since Nov 2025VSDM −0.26since Dec 2024
Worst fallMax drawdown, 5 years
FTMS −2.0%since Oct 2025VSDM −2.8%since Nov 2024
Market sensitivityBeta, 5 years
FTMS 0.07VSDM 0.09

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