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VCRM vs YYYM

Vanguard Core Tax-Exempt Bond E

VCRMACboe

Amplify Municipal CEF High Income ETF

YYYMFNYSE Arca

Overlap

No data

Expense ratio

VCRM −2.66pt a year

VCRM0.12%YYYM2.78%

Avg volume · 30D

VCRM 307.9×the volume

VCRM679KYYYM2.2K

VCRM vs YYYM Performance

Jul 31, 2026 – Oct 30, 2026

−0.4%VCRM−5.3%YYYM

Jul 31, 2026 to Oct 30, 2026. VCRM −0.4%. YYYM −5.3%. Use the arrow keys to read each point.−10%−7.5%−2.5%2.5%Jul 2026Sep 2026Oct 2026
Expense ratio
VCRM 0.12%, better
YYYM 2.78%
Fund size
VCRM $2.2B
YYYM $2M
1Y total return
VCRM +1.1%
YYYM No data
Yield (12M)
VCRM 3.81%
YYYM No data
Holdings
VCRM 2588
YYYM 32
Avg volume (30D)
VCRM 679K sh, better
YYYM 2.2K sh
NAV per share
VCRM $73.95
YYYM $18.13
52W range

ETF.net Grade

VCRM: Cost 89, Risk 68, Mission 100, Tradability 80, Holdings 81, Durability 74. YYYM: Cost 3, Risk 17, Mission not scored, Tradability 41, Holdings 32, Durability 25.
Pillar letters and Scores for VCRM, YYYM, with each pillar’s weight
PillarVCRMYYYM
Cost30% weightA89HigherF3
Mission25% weightA100Not scored
Risk15% weightB68HigherF17
Tradability15% weightA80HigherC41
Holdings10% weightA81HigherD32
Durability5% weightA74HigherD25

Rank among Other Municipal Bond funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. VCRM and YYYM are both graded against the same 63 Other Municipal Bond funds, so their Grades compare head to head.

Other Municipal Bond⁠

Category · 63 funds
See all 63 ›

VCRM ranks 4th and YYYM 63rd of 63 funds in the Other Municipal Bond Category.

  1. Rank 1AVTEBVanguard Tax-Exempt Bond ETFScore 88
  2. Rank 2AMUBiShares National Muni Bond ETFScore 86
  3. Rank 2ASCMBSchwab Municipal Bond ETFScore 86
  4. Rank 4AVCRMVanguard Core Tax-Exempt Bond EScore 85
  5. Rank 5ATFIState Street SPDR Nuveen ICE Municipal Bond ETFScore 82
  6. Rank 62FRTAIRareview Tax Advantaged Income ETFScore 23
  7. Rank 63FYYYMAmplify Municipal CEF High Income ETFScore 18

Our read on each fund

ETF.net Research

VCRMAVanguard Core Tax-Exempt Bond E

YYYMFAmplify Municipal CEF High Income ETF

In short

VCRM Vanguard's active answer in a mostly-index category: managers working the whole muni curve for 0.12% a year, under half the muni ETF median fee. Monthly income, exempt from federal personal income taxes.

YYYM Amplify's closed-end-fund playbook, pointed at munis: one ticker holding roughly 30 tax-exempt muni CEFs, screened for yield, discount to NAV, and liquidity. You get other managers' bond books, and their fee stack, in a single trade.

Stated mandate

VCRM The fund seeks total return through current income exempt from federal personal income taxes and capital appreciation.

YYYM The fund seeks results generally corresponding to the price and yield performance of the Nasdaq Municipal Bond CEF High Income Index. That index selects tax-exempt municipal bond closed-end funds while prioritizing yield, discount to NAV, and liquidity.

Why people hold it

  • VCRM Active management priced at 0.12% a year, less than half the 0.30% median for muni ETFs.
  • Run by Vanguard's Fixed Income Group, with all-curve exposure to primarily high-quality investment-grade munis spread across sectors, states and credit tiers.prnewswire.com
  • Pays monthly, with income the fund seeks to keep exempt from federal personal income taxes.vanguard.com
  • Sticks tightly to its stated mandate and grades among the strongest implementations in its muni peer group.
  • YYYM Does the screening most investors never attempt: a rules-based index ranks municipal closed-end funds on yield, discount to net asset value, and liquidity, then holds about 30 of them.amplifyetfs.com
  • Federally tax-advantaged income is the stated design goal, since everything inside is a tax-exempt municipal bond CEF run by an outside manager.amplifyetfs.comamplifyetfs.com 2
  • Discounts are a feature, not an accident: the methodology leans toward CEFs trading below NAV, so a dollar buys more of the underlying bond portfolio than sticker price suggests.amplifyetfs.com
  • Not a first attempt. Amplify has run the same discounted-CEF screen in a multi-asset income ETF since 2013; this one narrows the machinery to municipals.amplifyetfs.cometfstrategy.com

Worth knowing

  • VCRM You pay up for the manager: index peers VTEB and SCMB run at 0.03%, a quarter of VCRM's 0.12%.
  • Launched in November 2024, so there is only a short record to judge the active mandate on.
  • All-curve exposure puts longer maturities in the mix, so prices move with rates. And the exemption is federal: state treatment of a national muni fund depends on where you live.prnewswire.com
  • YYYM All-in cost is 2.78% a year against roughly 0.30% for the typical muni fund. In a fund of funds, the underlying CEFs' fees stack on top of the manager's.amplifyetfs.com
  • Closed-end funds trade on sentiment as well as bonds, so the discounts this index hunts can widen as easily as they close, adding a layer of price swing over the muni market itself.amplifyetfs.com
  • Launched in 2026, small and thinly traded, so there is no long record and execution costs weigh more than in giants like VTEB or MUB.

Full VCRM profile⁠

Full YYYM profile⁠

VCRM vs YYYM 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.

VCRM vs YYYM Cost

Overpaying YYYM vs VCRM

$39,046

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

  • VCRM 0.12%

    $2,520

  • YYYM 2.78%

    $41,566

$10,000
30 years

Cost over time

  • VCRM 0.12%
  • YYYM 2.78%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K$50K051015202530YYYM $41,566VCRM $2,520

Year by year

YearVCRMYYYMOverpaying
10$220$4,553$4,333
20$859$15,840$14,981
30$2,520$41,566$39,046

Expense ratio

  • 0.12%VCRM, cheaper
  • 2.78%YYYM
  • Middle half of Other Municipal Bond funds
  • Median 0.30%

VCRM 8th cheapest of 63 funds

YYYM 61st cheapest of 63 funds

VCRM vs YYYM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
VCRM 3.81%
YYYM No data
Payout (12M)
VCRM $2.82
YYYM No data
Last payment
VCRM $0.21
YYYM $0.11
Ex-dividend
VCRM Oct 1, 2026
YYYM Oct 29, 2026
Paid on
VCRM Oct 5, 2026
YYYM Oct 30, 2026
Frequency
VCRM Monthly
YYYM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

VCRMMonthly · 22 paymentsAll VCRM payments⁠
One bar per payment. 22 payments from 2024 to 2026 YTD. Dec 24, 2024 $0.30; Feb 3, 2025 $0.18; Mar 3, 2025 $0.19; Apr 1, 2025 $0.22; May 1, 2025 $0.18; Jun 2, 2025 $0.22; Jul 1, 2025 $0.23; Aug 1, 2025 $0.22; Sep 2, 2025 $0.22; Oct 1, 2025 $0.22; Nov 3, 2025 $0.23; Dec 1, 2025 $0.24; Dec 18, 2025 $0.24; Feb 2, 2026 $0.23; Mar 2, 2026 $0.23; Apr 1, 2026 $0.24; May 1, 2026 $0.24; Jun 1, 2026 $0.22; Jul 1, 2026 $0.24; Aug 3, 2026 $0.24; Sep 1, 2026 $0.25; Oct 1, 2026 $0.21. Use the arrow keys to read each point.$0$0.252026YTD
YYYMMonthly · 7 paymentsAll YYYM payments⁠
One bar per payment. 7 payments from 2024 to 2026 YTD. Apr 29, 2026 $0.12; May 28, 2026 $0.12; Jun 29, 2026 $0.12; Jul 30, 2026 $0.11; Aug 28, 2026 $0.11; Sep 29, 2026 $0.10; Oct 29, 2026 $0.11. Use the arrow keys to read each point.$0$0.252026YTD

VCRM vs YYYM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
VCRM 5.6%since Dec 2024YYYM No data
Return per unit of riskSharpe ratio, 3 years
VCRM −0.32since Dec 2024YYYM No data
Worst fallMax drawdown, 5 years
VCRM −6.3%since Nov 2024YYYM No data
Market sensitivityBeta, 5 years
VCRM 0.17YYYM 0.24

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