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SHM vs VSDM

State Street SPDR Nuveen ICE Short Term Municipal Bond ETF

SHMANYSE Arca

Vanguard Short Duration Tax-Exempt Bond ETF

VSDMACboe

Overlap

No data

Expense ratio

VSDM −0.08pt a year

SHM0.20%VSDM0.12%

Avg volume · 30D

SHM 1.6×the volume

SHM405KVSDM258K

SHM vs VSDM Performance

Oct 31, 2025 – Nov 2, 2026

+1.6%SHM+2.1%VSDM

Oct 31, 2025 to Nov 2, 2026. SHM +1.6%. VSDM +2.1%. Use the arrow keys to read each point.−1%−0.5%0%0.5%1%Oct 2025May 2026Nov 2026
Expense ratio
SHM 0.20%
VSDM 0.12%, better
Fund size
SHM $3.51B
VSDM $1.2B
1Y total return
SHM +1.6%
VSDM +2.1%, better
Yield (12M)
SHM 2.93%
VSDM 3.38%, better
Holdings
SHM 1108
VSDM 3315
Avg volume (30D)
SHM 405K sh, better
VSDM 258K sh
NAV per share
SHM $47.46
VSDM $75.79
52W range

ETF.net Grade

SHM: Cost 61, Risk 38, Mission 100, Tradability 76, Holdings 78, Durability 89. VSDM: Cost 85, Risk 48, Mission 100, Tradability 79, Holdings 75, Durability 62.
Pillar letters and Scores for SHM, VSDM, with each pillar’s weight
PillarSHMVSDM
Cost30% weightB61A85Higher
Mission25% weightA100A100
Risk15% weightD38C48Higher
Tradability15% weightA76A79Higher
Holdings10% weightA78HigherA75
Durability5% weightA89HigherB62

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. SHM 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 SHM 8th 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 6AJMSTJPMorgan Ultra-Short Municipal Income ETFScore 73
  6. Rank 8ASHMState Street SPDR Nuveen ICE Short Term Municipal Bond ETFScore 72
  7. Rank 9APUSHPGIM Ultra Short Municipal Bond ETFScore 71

Our read on each fund

ETF.net Research

SHMAState Street SPDR Nuveen ICE Short Term Municipal Bond ETF

VSDMAVanguard Short Duration Tax-Exempt Bond ETF

In short

SHM A 2007-vintage muni fund that deliberately stays short: roughly a thousand AMT-free municipal bonds, none of them maturing past five years. Federally tax-exempt income, paid monthly, with far less rate whiplash than the full muni market.

VSDM No data

Stated mandate

SHM The fund seeks to generally match, before fees and expenses, the price and yield performance of the ICE 1-5 Year AMT-Free Broad Municipal Index.

VSDM No data

Why people hold it

  • SHM Runs 0.20% a year, below the 0.30% median for muni bond ETFs in its peer group.
  • Spreads across roughly a thousand individual municipal bonds, so no single issuer's problems dominate the portfolio.
  • Trading since 2007, one of the elder statesmen of muni ETFs, now a multi-billion-dollar fund that distributes monthly.
  • Sits in the upper tier of a crowded muni ETF field on our review, helped by steady day-to-day trading and a deep bond bench.

VSDM No data

Worth knowing

  • SHM Cheap for a muni fund, but not the cheapest shelf: broad muni index trackers like VTEB and SCMB charge 0.03%.
  • The index stops at five years, so long-maturity muni exposure has to come from somewhere else in the portfolio.ssga.com
  • Short bonds cut both ways: smaller price moves when rates climb, and smaller ones when rates drop.

VSDM No data

Full SHM profile⁠

Full VSDM profile⁠

SHM 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.

SHM vs VSDM Cost

Overpaying SHM vs VSDM

$1,635

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

  • SHM 0.20%

    $4,155

  • VSDM 0.12%

    $2,520

$10,000
30 years

Cost over time

  • SHM 0.20%
  • 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$5K051015202530SHM $4,155VSDM $2,520

Year by year

YearSHMVSDMOverpaying
10$365$220$145
20$1,421$859$562
30$4,155$2,520$1,635

Expense ratio

  • 0.20%SHM
  • 0.12%VSDM, cheaper
  • Middle half of Short-Duration Municipal Bonds funds
  • Median 0.21%

VSDM 5th cheapest of 27 funds

SHM 12th cheapest of 27 funds

SHM vs VSDM Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
SHM 2.93%
VSDM 3.38%, better
Payout (12M)
SHM $1.39
VSDM $2.56
Last payment
SHM $0.11
VSDM $0.19
Ex-dividend
SHM Nov 2, 2026
VSDM Nov 2, 2026
Paid on
SHM Pays Nov 5, 2026
VSDM Pays Nov 4, 2026
Frequency
SHM Monthly
VSDM Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

SHMMonthly · 46 paymentsAll SHM payments⁠
One bar per payment. 46 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.03; Mar 1, 2023 $0.05; Apr 3, 2023 $0.04; May 1, 2023 $0.04; Jun 1, 2023 $0.04; Jul 3, 2023 $0.04; Aug 1, 2023 $0.04; Sep 1, 2023 $0.05; Oct 2, 2023 $0.05; Nov 1, 2023 $0.05; Dec 1, 2023 $0.06; Dec 18, 2023 $0.06; Feb 1, 2024 $0.06; Mar 1, 2024 $0.07; Apr 1, 2024 $0.06; May 1, 2024 $0.07; Jun 3, 2024 $0.08; Jul 1, 2024 $0.08; Aug 1, 2024 $0.08; Sep 3, 2024 $0.09; Oct 1, 2024 $0.09; Nov 1, 2024 $0.09; Dec 2, 2024 $0.10; Dec 19, 2024 $0.10; Feb 3, 2025 $0.10; Mar 3, 2025 $0.11; Apr 1, 2025 $0.10; May 1, 2025 $0.10; Jun 2, 2025 $0.10; Jul 1, 2025 $0.11; Aug 1, 2025 $0.10; Sep 2, 2025 $0.11; Oct 1, 2025 $0.11; Nov 3, 2025 $0.11; Dec 1, 2025 $0.11; Dec 18, 2025 $0.11; Feb 2, 2026 $0.10; Mar 2, 2026 $0.11; Apr 1, 2026 $0.10; May 1, 2026 $0.11; Jun 1, 2026 $0.10; Jul 1, 2026 $0.11; Aug 3, 2026 $0.11; Sep 1, 2026 $0.11; Oct 1, 2026 $0.11; Nov 2, 2026 $0.11. Use the arrow keys to read each point.$0$0.2520232026YTD
VSDMMonthly · 23 paymentsAll VSDM payments⁠
One bar per payment. 23 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; Nov 2, 2026 $0.19. Use the arrow keys to read each point.$0$0.2520232026YTD

SHM vs VSDM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SHM 2.9%VSDM 2.9%since Dec 2024Same figure. Both funds show the same value, so neither comes out ahead.
Return per unit of riskSharpe ratio, 3 years
SHM −0.40VSDM −0.26since Dec 2024
Worst fallMax drawdown, 5 years
SHM −6.2%VSDM −2.8%since Nov 2024
Market sensitivityBeta, 5 years
SHM 0.38VSDM 0.09

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