EVSMvsVTESETF Comparison
VS
Eaton Vance Short Duration Municipal Income ETF (EVSM) and Vanguard Short-Term Tax-Exempt Bond ETF (VTES) belong to the same industry segment: Municipal Bonds. EVSM's top 3 sector exposures are Municipal, Sovereign and Non-Corporate. In contrast, VTES's top sector exposures are Municipal. EVSM is more expensive with a Total Expense Ratio (TER) of 0.19%, versus 0.05% for VTES. EVSM is up 1.2% year-to-date (YTD) with +$263M in YTD flows. VTES performs worse with 0.61% YTD performance, and +$878M in YTD flows. Run a side-by-side ETF comparison of EVSM and VTES below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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EVSM vs VTES performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | EVSM VTES | +0.15%+0.12% | +0.09%-0.12% | +1.20%+0.61% | +2.37%+1.55% | n/a+9.46% | n/an/a |
| Flows | EVSM VTES | +$51M+$247M | +$118M+$479M | +$263M+$878M | +$402M+$1.16B | -+$2.27B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | EVSM VTES | +0.94%+1.12% | +0.93%+1.11% | n/a+1.47% | n/an/a |
| Max drawdown | EVSM VTES | -0.62%-0.77% | -1.01%-1.38% | n/a-1.81% | n/an/a |
| Max drawdown duration | EVSM VTES | 37d59d | 103d189d | n/a59d | n/an/a |
Trading data
EVSM | VTES | |
Last sale 9/4/2026 at 1:30 PM | $49.95 | $100.35 |
| Previous close 09/03/2026 | $49.97 | $100.29 |
| Consolidated volume 09/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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EVSM
is actively managed and doesn’t replicate an indexEVSM | VTES | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/4/2026 at 1:30 PM
Live
Closed
EVSM | VTES | |
|---|---|---|
| Last price | $49.95 | $100.35 |
| 1D performance | -0.04% | +0.06% |
| AuM | $831.48 M | $2.45 B |
| E/R | 0.19% | 0.05% |
Characteristics
EVSM | VTES | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Morgan Stanley | Vanguard |
| Benchmark | - | S&P 0-7 Year National AMT-Free Municipal Bond Index |
| N° of holdings | 211 | 1686 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 25, 2024 | March 9, 2023 |
| ESG | No | No |
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Exposure
Countries
EVSM
USA
60.04%
Other
39.96%
VTES
USA
59.38%
Other
40.62%
Sectors
EVSM
Municipal
56.06%
Other
43.94%
VTES
Municipal
59.38%
Other
40.62%
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Diversification
EVSM
Total weight of top 15 holdings out of 15
14.48%
VTES
Total weight of top 15 holdings out of 15
3.27%
Top 15 holdings
Data as of July 31, 2026
EVSM
BlackRock Liquidity MuniCash
1.65%
Gainesville (FL), FRN 1oct2042, USD (2012)
1.11%
City of Los Angeles, 5% 24jun2027, USD (2026)
1.11%
US083773EE76
1.10%
Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A)
1.02%
Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3)
1.02%
US454898XD44
1.01%
University of Connecticut, 3.83% 23mar2027, USD (2026)
0.96%
Aquarion Water Authority, 5.25% 1feb2031, USD (2026)
0.90%
Ohio Water Development Authority, FRN 1dec2054, USD (2024C)
0.87%
US607167DW00
0.86%
US254845VW74
0.82%
Nashville and Davidson Metropolitan Government, 5% 1jul2032, USD (2026)
0.69%
US84136HCT86
0.68%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.68%
VTES
North Colonie Central School District, 3.75% 25jun2027, USD (2026)
0.46%
US64972JQM35
0.25%
US13063ENN21
0.22%
Illinois, 5% 1nov2027, USD (2017D)
0.22%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.21%
New Jersey Economic Development Authority, 5% 15jun2042, USD
0.21%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.21%
New Jersey, 5% 1jun2029, USD
0.20%
New Jersey, 5% 1jun2028, USD
0.20%
New Jersey Transportation Trust Fund Authority, 5% 15jun2028, USD
0.20%
California, 5.25% 1aug2032, USD
0.18%
Wyandotte Unified School District №500, 5.25% 1sep2042, USD (2016-A)
0.18%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.18%
New Jersey, 4% 1jun2030, USD
0.17%
US544647HQ66
0.17%
Frequently asked questions about EVSM and VTES
How have the EVSM and VTES ETFs performed in 2026?
As of September 3, 2026, EVSM is up 1.2% year-to-date (YTD), while VTES has returned 0.61%. That puts EVSM better performer ahead so far this year.
Which ETF is attracting more investor money: EVSM or VTES?
Year-to-date, the EVSM ETF saw +$263M in flows, compared to +$878M for VTES.
Which ETF is more volatile: EVSM or VTES?
Over the past year, EVSM had a volatility of 0.93%, while VTES experienced 1.11%.
Which ETF is bigger: EVSM or VTES?
As of September 3, 2026, EVSM holds $831.48 M in assets under management (AUM), while VTES manages $2.45 B.
What sectors do the EVSM and VTES ETFs invest in?
EVSM leans toward sectors like Municipal. Meanwhile, VTES focuses on Municipal.
What are the top holdings of the EVSM ETF and VTES ETF?
EVSM top holdings include BlackRock Liquidity MuniCash, Gainesville (FL), FRN 1oct2042, USD (2012) and City of Los Angeles, 5% 24jun2027, USD (2026). VTES holds in its top three: North Colonie Central School District, 3.75% 25jun2027, USD (2026), US64972JQM35 and US13063ENN21.
Which ETF is more diversified: EVSM or VTES?
EVSM holds 379 securities with 14.48% of its assets in the top 15. VTES has 3414 securities and a top 15 weight of 3.27%.
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Latest news about EVSM & VTES
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