PUSH vs VSDM: Grades, Fees and Holdings Compared

PGIM Ultra Short Municipal Bond ETF

PUSHANYSE Arca

Vanguard Short Duration Tax-Exempt Bond ETF

VSDMACboe

Overlap

No data

Expense ratio

VSDM −0.03pt a year

PUSH0.15%VSDM0.12%

Avg volume · 30D

VSDM 5.7×the volume

PUSH45.1KVSDM258K

PUSH vs VSDM Performance

Oct 31, 2025 – Nov 2, 2026

+2.9%PUSH+2.1%VSDM

Expense ratio: PUSH 0.15%; VSDM 0.12%, better
Fund size: PUSH $202M; VSDM $1.2B
1Y total return: PUSH +2.9%, better; VSDM +2.1%
Yield (12M): PUSH 3.40%, better; VSDM 3.38%
Holdings: PUSH 410; VSDM 3315
Avg volume (30D): PUSH 45.1K sh; VSDM 258K sh, better
NAV per share: PUSH $50.14; VSDM $75.79
52W range

ETF.net Grade

Pillar letters and Scores for PUSH, VSDM, with each pillar’s weight
Pillar	PUSH	VSDM
Cost30% weight	A80	A85Higher
Mission25% weight	A100	A100
Risk15% weight	B64Higher	C48
Tradability15% weight	D34	A79Higher
Holdings10% weight	B56	A75Higher
Durability5% weight	D36	B62Higher

Rank among Short-Duration Municipal Bonds funds

How we build Categories ›

Same Category. PUSH 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 PUSH 9th of 27 funds in the Short-Duration Municipal Bonds Category.

Rank 1AVTESVanguard Short-Term Tax-Exempt Bond ETFScore 81
Rank 2ASUBiShares Short-Term National Muni Bond ETFScore 80
Rank 2AVSDMVanguard Short Duration Tax-Exempt Bond ETFScore 80
Rank 4ATAXSNorthern Trust Short-Term Tax-Exempt Bond ETFScore 77
Rank 8ASHMState Street SPDR Nuveen ICE Short Term Municipal Bond ETFScore 72
Rank 9APUSHPGIM Ultra Short Municipal Bond ETFScore 71
Rank 10BEVSMEaton Vance Short Duration Municipal Income ETFScore 68

Our read on each fund

ETF.net Research

PUSHAPGIM Ultra Short Municipal Bond ETF

VSDMAVanguard Short Duration Tax-Exempt Bond ETF

In short

PUSH The muni cousin of PGIM's big ultra-short bond fund: an active, 0.15% portfolio of very short municipal bonds, run by PGIM's own muni desk and paying federally tax-exempt income monthly.

VSDM No data

Stated mandate

PUSH The fund seeks total return from current income exempt from federal income taxes and capital appreciation.

VSDM No data

Why people hold it

PUSH At 0.15%, it costs less than the typical short-muni ETF and undercuts the group's other active options, GUMI and JMST. Cheap active is unusual in munis.
Actively run by PGIM Fixed Income's muni team, with room for up to 10% in high-yield muni debt. An index tracker cannot make that call.pgim.com
Income is exempt from federal income tax and paid monthly, and the ultra-short benchmark (Bloomberg 1 Year Municipal Bond Index) keeps interest-rate sensitivity slim.
Has stayed tight to its stated ultra-short muni mandate since launch, and rates as one of the stronger implementations in its short-muni peer group.

VSDM No data

Worth knowing

PUSH Thinly traded with a modest asset base, so spreads can widen and a chunky order can move the price.
Launched in 2024, so the record is short. PGIM itself flags new/small fund risk given the limited operating history.pgim.com
Creations and redemptions may be done in cash, which PGIM notes can make it less tax-efficient than an in-kind ETF. The exemption is federal, not state.pgim.com

VSDM No data

Full PUSH profile⁠

Full VSDM profile⁠

PUSH vs VSDM Holdings

How PUSH and VSDM differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile99.8%

Sector

No Sector split for PUSH and VSDM.

Country, concentration and asset class

Country by domicile

Country weights in PUSH and VSDM, widest gap first
Country	More in PUSHMore in VSDM	PUSH	VSDM
United States	PUSH +0.2 points	99.3%	99.1%
Puerto Rico	VSDM +0.2 points	0.7%	0.9%

Concentration

Weight in the 10 largest Holdings

PUSH15.4%
VSDM5.4%

Securities held

PUSH265
VSDM2,951

Asset class

PUSH: Fixed Income
VSDM: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. PUSH holds 265 securities, VSDM 2,951.

All PUSH holdings⁠All 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.

PUSH vs VSDM Cost

Overpaying PUSH vs VSDM

$617

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

PUSH 0.15%
$3,137
VSDM 0.12%
$2,520

Amount$10,000

Years30 years

Cost over time

PUSH 0.15%
VSDM 0.12%
Overpaying

Year by year

Year	PUSH	VSDM	Overpaying
10	$274	$220	$54
20	$1,071	$859	$212
30	$3,137	$2,520	$617

Expense ratio

0.15%PUSH
0.12%VSDM, cheaper

VSDM0.12%PUSH0.15%

0.05%0.55%

Middle half of Short-Duration Municipal Bonds funds
Median 0.21%

VSDM 5th cheapest of 27 funds

PUSH 6th cheapest of 27 funds

PUSH vs VSDM Dividends

Last 12 months to Nov 2, 2026

Yield (12M): PUSH 3.40%, better; VSDM 3.38%
Payout (12M): PUSH $1.71; VSDM $2.56
Last payment: PUSH $0.13; VSDM $0.19
Ex-dividend: PUSH Oct 30, 2026; VSDM Nov 2, 2026
Paid on: PUSH Pays Nov 3, 2026; VSDM Pays Nov 4, 2026
Frequency: PUSH Monthly; VSDM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

PUSHMonthly · 28 paymentsAll PUSH payments⁠

VSDMMonthly · 23 paymentsAll VSDM payments⁠

PUSH vs VSDM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: PUSH 1.3%since Jul 2024VSDM 2.9%since Dec 2024
Return per unit of riskSharpe ratio, 3 years: PUSH −0.56since Jul 2024VSDM −0.26since Dec 2024
Worst fallMax drawdown, 5 years: PUSH −1.3%since Jun 2024VSDM −2.8%since Nov 2024
Market sensitivityBeta, 5 years: PUSH 0.04VSDM 0.09; Market = 1

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