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MMSD vs VSDM

NYLI MacKay Muni Short Duration ETF

MMSDCNYSE Arca

Vanguard Short Duration Tax-Exempt Bond ETF

VSDMACboe

Overlap

No data

Expense ratio

VSDM −0.13pt a year

MMSD0.25%VSDM0.12%

Avg volume · 30D

VSDM 17.6×the volume

MMSD14.7KVSDM258K

MMSD vs VSDM Performance

Oct 31, 2025 – Oct 30, 2026

+2.3%MMSD+2.0%VSDM

Oct 31, 2025 to Oct 30, 2026. MMSD +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
MMSD 0.25%
VSDM 0.12%, better
Fund size
MMSD $82M
VSDM $1.2B
1Y total return
MMSD +2.3%, better
VSDM +2.0%
Yield (12M)
MMSD 3.87%, better
VSDM 3.12%
Holdings
MMSD 159
VSDM 3315
Avg volume (30D)
MMSD 14.7K sh
VSDM 258K sh, better
NAV per share
MMSD $25.05
VSDM $75.79
52W range

ETF.net Grade

MMSD: Cost 39, Risk 48, Mission 100, Tradability 33, Holdings 44, Durability 21. VSDM: Cost 85, Risk 48, Mission 100, Tradability 78, Holdings 75, Durability 62.
Pillar letters and Scores for MMSD, VSDM, with each pillar’s weight
PillarMMSDVSDM
Cost30% weightD39A85Higher
Mission25% weightA100A100
Risk15% weightC48C48
Tradability15% weightD33A78Higher
Holdings10% weightC44A75Higher
Durability5% weightF21B62Higher

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. MMSD 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 MMSD 20th 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 20BFUMBFirst Trust Ultra Short Duration Municipal ETFScore 54
  6. Rank 20CMMSDNYLI MacKay Muni Short Duration ETFScore 54
  7. Rank 22CPVIInvesco Floating Rate Municipal Income ETFScore 53

Our read on each fund

ETF.net Research

MMSDCNYLI MacKay Muni Short Duration ETF

VSDMAVanguard Short Duration Tax-Exempt Bond ETF

In short

MMSD New York Life's muni desk in ETF form, aimed at the short end of the tax-exempt bond market. It undercuts the typical muni ETF on fee, but it opened in 2025 and is still building its record.

VSDM No data

Stated mandate

MMSD The Fund seeks current income that is exempt from regular federal income tax.

VSDM No data

Why people hold it

  • MMSD Costs 0.25% a year against a 0.30% median for muni bond ETFs. On tax-free income, the fee you skip is income you keep.
  • The mandate targets current income exempt from regular federal income tax, and the fund distributes monthly.
  • Short duration by design. Shorter bonds move less when rates jump, which is the whole point of the sleeve.
  • Holds roughly 150 municipal bonds, so no single issuer carries the portfolio.

VSDM No data

Worth knowing

  • MMSD Thinly traded. Spreads can be wider than the muni heavyweights, so limit orders earn their keep here.
  • Launched in 2025 with a modest asset base, so there is little history to judge it by.
  • Broad index rivals VTEB and MUB charge 0.03% and 0.05%. This is a pricier, narrower slice of the muni market, and it sits in the lower half of its peer group.

VSDM No data

Full MMSD profile⁠

Full VSDM profile⁠

MMSD 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.

MMSD vs VSDM Cost

Overpaying MMSD vs VSDM

$2,639

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

  • MMSD 0.25%

    $5,159

  • VSDM 0.12%

    $2,520

$10,000
30 years

Cost over time

  • MMSD 0.25%
  • VSDM 0.12%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530MMSD $5,159VSDM $2,520

Year by year

YearMMSDVSDMOverpaying
10$455$220$235
20$1,769$859$910
30$5,159$2,520$2,639

Expense ratio

  • 0.25%MMSD
  • 0.12%VSDM, cheaper
  • Middle half of Short-Duration Municipal Bonds funds
  • Median 0.21%

VSDM 5th cheapest of 27 funds

MMSD 15th cheapest of 27 funds

MMSD vs VSDM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MMSD 3.87%, better
VSDM 3.12%
Payout (12M)
MMSD $0.97
VSDM $2.37
Last payment
MMSD $0.08
VSDM $0.19
Ex-dividend
MMSD Oct 30, 2026
VSDM Oct 1, 2026
Paid on
MMSD Pays Nov 3, 2026
VSDM Oct 5, 2026
Frequency
MMSD Monthly
VSDM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

MMSDMonthly · 18 paymentsAll MMSD payments⁠
One bar per payment. 18 payments from 2024 to 2026 YTD. Jun 2, 2025 $0.05; Jul 1, 2025 $0.08; Aug 1, 2025 $0.08; Sep 2, 2025 $0.08; Oct 1, 2025 $0.07; Nov 3, 2025 $0.06; Dec 1, 2025 $0.07; Dec 30, 2025 $0.10; Jan 30, 2026 $0.08; Feb 27, 2026 $0.07; Mar 31, 2026 $0.08; Apr 30, 2026 $0.07; May 29, 2026 $0.08; Jun 30, 2026 $0.07; Jul 31, 2026 $0.07; Aug 31, 2026 $0.07; Sep 30, 2026 $0.07; Oct 30, 2026 $0.08. 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

MMSD vs VSDM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MMSD 2.6%since Jun 2025VSDM 2.9%since Dec 2024
Return per unit of riskSharpe ratio, 3 years
MMSD −0.13since Jun 2025VSDM −0.26since Dec 2024
Worst fallMax drawdown, 5 years
MMSD −2.4%since May 2025VSDM −2.8%since Nov 2024
Market sensitivityBeta, 5 years
MMSD 0.07VSDM 0.09

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