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TAXS vs VSDM

Northern Trust Short-Term Tax-Exempt Bond ETF

TAXSANasdaq

Vanguard Short Duration Tax-Exempt Bond ETF

VSDMACboe

Overlap

No data

Expense ratio

TAXS −0.07pt a year

TAXS0.05%VSDM0.12%

Avg volume · 30D

VSDM 8.9×the volume

TAXS28.9KVSDM258K

TAXS vs VSDM Performance

Oct 31, 2025 – Oct 30, 2026

+2.6%TAXS+2.0%VSDM

Oct 31, 2025 to Oct 30, 2026. TAXS +2.6%. 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
TAXS 0.05%, better
VSDM 0.12%
Fund size
TAXS $194M
VSDM $1.2B
1Y total return
TAXS +2.6%, better
VSDM +2.0%
Yield (12M)
TAXS 2.38%
VSDM 3.12%, better
Holdings
TAXS 2424
VSDM 3315
Avg volume (30D)
TAXS 28.9K sh
VSDM 258K sh, better
NAV per share
TAXS $50.11
VSDM $75.79
52W range

ETF.net Grade

TAXS: Cost 98, Risk 62, Mission 100, Tradability 24, Holdings 81, Durability 42. VSDM: Cost 85, Risk 48, Mission 100, Tradability 78, Holdings 75, Durability 62.
Pillar letters and Scores for TAXS, VSDM, with each pillar’s weight
PillarTAXSVSDM
Cost30% weightA98HigherA85
Mission25% weightA100A100
Risk15% weightB62HigherC48
Tradability15% weightF24A78Higher
Holdings10% weightA81HigherA75
Durability5% weightC42B62Higher

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. TAXS 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 TAXS 4th 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

Our read on each fund

ETF.net Research

TAXSANorthern Trust Short-Term Tax-Exempt Bond ETF

VSDMAVanguard Short Duration Tax-Exempt Bond ETF

In short

TAXS Northern Trust's muni index fund keeps every bond under five years to maturity and charges 0.05%, a fraction of the typical muni ETF fee. Roughly 1,700 federally tax-exempt bonds, none of them AMT bonds, with interest paid monthly.

VSDM No data

Stated mandate

TAXS The fund seeks to track, before fees and expenses, the price and yield performance of the ICE Short-term Focused Municipal Bond Index. It is designed for tax-exempt income through passively managed, investment-grade municipal bonds with short-term maturities.

VSDM No data

Why people hold it

  • TAXS 0.05% a year sits at the low end of the muni aisle, where the typical fund charges several times that, and matches the fee on MUB, the category's iShares heavyweight.
  • Index rules admit only investment-grade bonds with under five years left to final maturity, so the portfolio skips the long-end price swings that define all-maturity muni funds.flexshares.com
  • About 1,700 bonds, all exempt from federal tax and screened to exclude alternative minimum tax paper, with income distributed monthly rather than accrued.flexshares.com
  • Passive, sampled, and run by Northern Trust's municipal desk, which has managed muni portfolios for more than 30 years. The index does the picking, not a manager's hunch.flexshares.comnortherntrust.com

VSDM No data

Worth knowing

  • TAXS It launched in 2025 and trades lightly next to muni mainstays like VTEB and MUB, so spreads can run wider and the track record is short.
  • Federally tax-exempt is not tax-free. That interest can still be taxed by your state and city.flexshares.com
  • Sub-five-year munis generally carry lower yields than longer maturity portfolios. That is the other side of the milder rate sensitivity.flexshares.com

VSDM No data

Full TAXS profile⁠

Full VSDM profile⁠

TAXS 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.

TAXS vs VSDM Cost

Overpaying VSDM vs TAXS

$1,460

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

  • TAXS 0.05%

    $1,060

  • VSDM 0.12%

    $2,520

$10,000
30 years

Cost over time

  • TAXS 0.05%
  • 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 $2,520TAXS $1,060

Year by year

YearTAXSVSDMOverpaying
10$92$220$128
20$360$859$499
30$1,060$2,520$1,460

Expense ratio

  • 0.05%TAXS, cheaper
  • 0.12%VSDM
  • Middle half of Short-Duration Municipal Bonds funds
  • Median 0.21%

TAXS cheapest of 27 funds

VSDM 5th cheapest of 27 funds

TAXS vs VSDM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
TAXS 2.38%
VSDM 3.12%, better
Payout (12M)
TAXS $1.20
VSDM $2.37
Last payment
TAXS $0.11
VSDM $0.19
Ex-dividend
TAXS Oct 1, 2026
VSDM Oct 1, 2026
Paid on
TAXS Oct 7, 2026
VSDM Oct 5, 2026
Frequency
TAXS Monthly
VSDM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

TAXSMonthly · 14 paymentsAll TAXS payments⁠
One bar per payment. 14 payments from 2024 to 2026 YTD. Sep 2, 2025 $0.04; Oct 1, 2025 $0.10; Nov 3, 2025 $0.10; Dec 1, 2025 $0.02; Dec 19, 2025 $0.11; Feb 2, 2026 $0.13; Mar 2, 2026 $0.10; Apr 1, 2026 $0.10; May 1, 2026 $0.11; Jun 1, 2026 $0.11; Jul 1, 2026 $0.10; Aug 3, 2026 $0.11; Sep 1, 2026 $0.10; Oct 1, 2026 $0.11. 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

TAXS vs VSDM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TAXS 2.8%since Sep 2025VSDM 2.9%since Dec 2024
Return per unit of riskSharpe ratio, 3 years
TAXS −0.51since Sep 2025VSDM −0.26since Dec 2024
Worst fallMax drawdown, 5 years
TAXS −1.9%since Aug 2025VSDM −2.8%since Nov 2024
Market sensitivityBeta, 5 years
TAXS 0.03VSDM 0.09

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