
Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF (VSDM)
ETF overview
VSDM is an actively managed ETF that seeks tax-exempt income with limited price volatility. It primarily invests in US dollar-denominated municipal bonds issued by US states or local agencies. Interest is exempt from federal income taxes and alternative minimum tax (AMT). The fund does not have maturity limitations on individual securities, but it typically maintains a dollar-weighted average maturity of 2 to 7 years and an average portfolio duration of 1.5 to 5 years. The majority of assets are invested in investment-grade bonds, rated A3 or better by Moody's or equivalent. Investments in junk bonds are limited to 20% of assets. The fund follows a portfolio manager-driven process, incorporating top-down and bottom-up insights. As a fundamental policy, at least 80% of assets are invested in tax-exempt securities under normal market conditions.
Fund facts
- Expense ratio
- 0.12%
- Fund assets
- 1.2B USD (all share classes)
- Issuer
- Vanguard
- Inception date
- Nov 19, 2024
- Number of holdings
- 3,315
Breakdown
Holdings (3,315)
| Name | Ticker | Weight |
|---|---|---|
| Vanguard Municipal Low Duration Fund 12/31/2049 | 1.31% | |
| Alabama Toll Road Bridge and Tunnel Authority 5.00% 10/01/2032 | 0.64% | |
| Dallas Area Rapid Transit 5.00% 12/01/2032 | 0.55% | |
| California Community Choice Financing Authority 5.00% 07/01/2053 | 0.45% | |
| California Community Choice Financing Authority 5.50% 05/01/2054 | 0.44% | |
| School District of Broward County/FL 5.00% 07/01/2033 | 0.44% | |
| New York State Dormitory Authority 5.00% 01/15/2031 | 0.44% | |
| Southeast Energy Authority A Cooperative District 5.00% 10/01/2030 | 0.42% | |
| New Jersey Transportation Trust Fund Authority 5.00% 12/15/2034 | 0.38% | |
| Southeast Energy Authority A Cooperative District 5.00% 10/01/2055 | 0.35% | |
| and 3,302 more | ||
Historical returns do not guarantee future returns. This is not investment advice.

Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF (VSDM)
- Expense ratio
- 0.12%
- Fund assets
- 1.2B USD (all share classes)
- Issuer
- Vanguard
- Inception date
- Nov 19, 2024
- Number of holdings
- 3,315
| Name | Ticker | Weight |
|---|---|---|
| Vanguard Municipal Low Duration Fund 12/31/2049 | 1.31% | |
| Alabama Toll Road Bridge and Tunnel Authority 5.00% 10/01/2032 | 0.64% | |
| Dallas Area Rapid Transit 5.00% 12/01/2032 | 0.55% | |
| California Community Choice Financing Authority 5.00% 07/01/2053 | 0.45% | |
| California Community Choice Financing Authority 5.50% 05/01/2054 | 0.44% | |
| School District of Broward County/FL 5.00% 07/01/2033 | 0.44% | |
| New York State Dormitory Authority 5.00% 01/15/2031 | 0.44% | |
| Southeast Energy Authority A Cooperative District 5.00% 10/01/2030 | 0.42% | |
| New Jersey Transportation Trust Fund Authority 5.00% 12/15/2034 | 0.38% | |
| Southeast Energy Authority A Cooperative District 5.00% 10/01/2055 | 0.35% | |
| and 3,302 more | ||
VSDM is an actively managed ETF that seeks tax-exempt income with limited price volatility. It primarily invests in US dollar-denominated municipal bonds issued by US states or local agencies. Interest is exempt from federal income taxes and alternative minimum tax (AMT). The fund does not have maturity limitations on individual securities, but it typically maintains a dollar-weighted average maturity of 2 to 7 years and an average portfolio duration of 1.5 to 5 years. The majority of assets are invested in investment-grade bonds, rated A3 or better by Moody's or equivalent. Investments in junk bonds are limited to 20% of assets. The fund follows a portfolio manager-driven process, incorporating top-down and bottom-up insights. As a fundamental policy, at least 80% of assets are invested in tax-exempt securities under normal market conditions.
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