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SMB vs VSDM

VanEck Short Muni ETF

SMBACboe

Vanguard Short Duration Tax-Exempt Bond ETF

VSDMACboe

Overlap

Expense ratio

SMB −0.05pt a year

SMB0.07%VSDM0.12%

Avg volume · 30D

VSDM 1.4×the volume

SMB179KVSDM258K

SMB vs VSDM Performance

Oct 31, 2025 – Oct 30, 2026

+2.0%SMB+2.0%VSDM

Oct 31, 2025 to Oct 30, 2026. SMB +2.0%. VSDM +2.0%. Use the arrow keys to read each point.−0.5%0%0.5%1%Oct 2025Apr 2026Oct 2026
Expense ratio
SMB 0.07%, better
VSDM 0.12%
Fund size
SMB $394M
VSDM $1.2B
1Y total return
SMB +2.0%
VSDM +2.0%
Yield (12M)
SMB 2.82%
VSDM 3.12%, better
Holdings
SMB 362
VSDM 3315
Avg volume (30D)
SMB 179K sh
VSDM 258K sh, better
NAV per share
SMB $17.18
VSDM $75.79
52W range

ETF.net Grade

SMB: Cost 91, Risk 50, Mission 100, Tradability 40, Holdings 57, Durability 65. VSDM: Cost 85, Risk 48, Mission 100, Tradability 78, Holdings 75, Durability 62.
Pillar letters and Scores for SMB, VSDM, with each pillar’s weight
PillarSMBVSDM
Cost30% weightA91HigherA85
Mission25% weightA100A100
Risk15% weightC50HigherC48
Tradability15% weightC40A78Higher
Holdings10% weightB57A75Higher
Durability5% weightB65HigherB62

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. SMB 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 SMB 5th 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 5ASMBVanEck Short Muni ETFScore 74
  6. Rank 6AGUMIGoldman Sachs Ultra Short Municipal Income ETFScore 73

Our read on each fund

ETF.net Research

SMBAVanEck Short Muni ETF

VSDMAVanguard Short Duration Tax-Exempt Bond ETF

In short

SMB A muni fund built for the short end: VanEck has run this AMT-free, short-maturity national portfolio since 2008, and it charges 0.07%, a fraction of what the typical muni bond ETF costs.

VSDM No data

Stated mandate

SMB The fund seeks to track the price and yield performance of the ICE Short AMT-Free Broad National Municipal Index before fees and expenses.

VSDM No data

Why people hold it

  • SMB Charges 0.07% a year, well under the typical muni bond ETF fee. When the whole point is tax-free income, the fee line matters.
  • The index is AMT-free by design, so the interest it targets is federally tax-exempt without the alternative minimum tax wrinkle.vaneck.com
  • Short maturities mean rate swings move prices less than in long-dated muni funds. Roughly 300 bonds, with income paid monthly.
  • Running since 2008, so it has an audited record through a full round trip in interest rates rather than a two-year backtest.

VSDM No data

Worth knowing

  • SMB The short end of the muni curve is the low-income end. This portfolio is about damping rate moves, not maximizing the payout.
  • It is a national fund, aimed at federal tax exemption only. State-level exemption is the job of single-state funds like NYF.vaneck.com
  • Broad-maturity rivals VTEB and SCMB charge less and cover the whole curve. The short-maturity focus is the reason to look here.

VSDM No data

Full SMB profile⁠

Full VSDM profile⁠

SMB 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.

SMB vs VSDM Cost

Overpaying VSDM vs SMB

$1,040

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

  • SMB 0.07%

    $1,480

  • VSDM 0.12%

    $2,520

$10,000
30 years

Cost over time

  • SMB 0.07%
  • 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$3K051015202530VSDM $2,520SMB $1,480

Year by year

YearSMBVSDMOverpaying
10$128$220$92
20$503$859$356
30$1,480$2,520$1,040

Expense ratio

  • 0.07%SMB, cheaper
  • 0.12%VSDM
  • Middle half of Short-Duration Municipal Bonds funds
  • Median 0.21%

SMB 3rd cheapest of 27 funds

VSDM 5th cheapest of 27 funds

SMB vs VSDM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SMB 2.82%
VSDM 3.12%, better
Payout (12M)
SMB $0.48
VSDM $2.37
Last payment
SMB $0.04
VSDM $0.19
Ex-dividend
SMB Oct 1, 2026
VSDM Oct 1, 2026
Paid on
SMB Oct 6, 2026
VSDM Oct 5, 2026
Frequency
SMB Monthly
VSDM Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

SMBMonthly · 45 paymentsAll SMB payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.02; Mar 1, 2023 $0.02; Apr 3, 2023 $0.03; May 1, 2023 $0.02; Jun 1, 2023 $0.02; Jul 3, 2023 $0.02; Aug 1, 2023 $0.03; Sep 1, 2023 $0.02; Oct 2, 2023 $0.03; Nov 1, 2023 $0.03; Dec 1, 2023 $0.03; Dec 27, 2023 $0.03; Feb 1, 2024 $0.03; Mar 1, 2024 $0.03; Apr 1, 2024 $0.04; May 1, 2024 $0.03; Jun 3, 2024 $0.03; Jul 1, 2024 $0.03; Aug 1, 2024 $0.04; Sep 3, 2024 $0.03; Oct 1, 2024 $0.03; Nov 1, 2024 $0.04; Dec 2, 2024 $0.03; Dec 27, 2024 $0.04; Feb 3, 2025 $0.04; Mar 3, 2025 $0.03; Apr 1, 2025 $0.04; May 1, 2025 $0.04; Jun 2, 2025 $0.04; Jul 1, 2025 $0.04; Aug 1, 2025 $0.04; Sep 2, 2025 $0.04; Oct 1, 2025 $0.04; Nov 3, 2025 $0.04; Nov 28, 2025 $0.04; Dec 29, 2025 $0.04; Feb 2, 2026 $0.04; Mar 2, 2026 $0.04; Apr 1, 2026 $0.05; May 1, 2026 $0.04; Jun 1, 2026 $0.04; Jul 1, 2026 $0.05; Aug 3, 2026 $0.04; Sep 1, 2026 $0.04; Oct 1, 2026 $0.04. 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

SMB vs VSDM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SMB 2.5%VSDM 2.9%since Dec 2024
Return per unit of riskSharpe ratio, 3 years
SMB −0.33VSDM −0.26since Dec 2024
Worst fallMax drawdown, 5 years
SMB −7.1%VSDM −2.8%since Nov 2024
Market sensitivityBeta, 5 years
SMB 0.33VSDM 0.09

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