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FSMBvsVTECETF Comparison

ETF 1

FSMB

First Trust Short Duration Managed Municipal ETF

This fund is part of

Municipal Bonds

-0%

Full FSMB fund page

VS

ETF 2

VTEC

Vanguard California Tax-Exempt Bond ETF

This fund is part of

Municipal Bonds

-0%

Full VTEC fund page

First Trust Short Duration Managed Municipal ETF (FSMB) and Vanguard California Tax-Exempt Bond ETF (VTEC) belong to the same industry segment: Municipal Bonds. In contrast, VTEC's top sector exposures are Municipal. FSMB is more expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.06% for VTEC. FSMB is up 1.23% year-to-date (YTD) with +$150M in YTD flows. VTEC performs worse with -2.37% YTD performance, and +$2.54B in YTD flows. Run a side-by-side ETF comparison of FSMB and VTEC 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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FSMB vs VTEC performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/16/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FSMB VTEC	-0.11%-0.33%	-0.86%-3.44%	+1.23%-2.37%	+1.37%-1.74%	+8.09%n/a	+4.26%n/a
Flows	FSMB VTEC	+$31M+$796M	+$37M+$1.28B	+$150M+$2.54B	+$175M+$2.89B	+$250M-	+$492M-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FSMB VTEC	+2.49%+4.94%	+1.58%+3.13%	+1.68%n/a	+1.64%n/a
Max drawdown	FSMB VTEC	-2.71%-5.76%	-2.71%-6.50%	-2.71%n/a	-5.98%n/a
Max drawdown duration	FSMB VTEC	64d92d	64d229d	64dn/a	1149dn/a

Trading data

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	FSMB	VTEC
Last sale 10/16/2026 at 7:49 PM	$19.64	$95.44
Previous close 10/16/2026	$19.62	$95.41
Consolidated volume 10/16/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of September 30, 2026

1-year trailing difference

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FSMB

is actively managed and doesn’t replicate an index

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	FSMB	VTEC
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/16/2026 at 7:49 PM

Live

Closed

	FSMB	VTEC
Last price	$19.64	$95.44
1D performance	+0.08%	+0.03%
AuM	$649.27 M	$4.15 B
E/R	0.34%	0.06%

Characteristics

	FSMB	VTEC
Management strategy	Active	Passive
Provider	First Trust	Vanguard
Benchmark	-	S&P California AMT-Free Municipal Bond Index
N° of holdings	-	1739
Asset class	-	Bonds
Trailing 12m distribution yield	Join	Join
Inception date	November 1, 2018	January 30, 2024
ESG	No	No

More FSMB data on Trackinsight

More VTEC data on Trackinsight

Exposure

Countries

FSMB

Data will be available soon

VTEC

USA

60.82%

Other

39.18%

Sectors

FSMB

Data will be available soon

VTEC

Municipal

60.82%

Other

39.18%

Diversification

FSMB

Data will be available soon

VTEC

Total weight of top 15 holdings out of 15

4.13%

Top 15 holdings

Data as of January 1, 1970

FSMB

Data will be available soon

VTEC

University of California, FRN 15may2048, USD (2013)

0.52%

University of California, 5% 15may2036, USD (2025)

0.44%

Los Angeles Unified School District, 5% 1jul2034, USD (2024A)

0.33%

Bay Area Toll Authority, 5% 1apr2061, USD (2026)

0.31%

US072024YF30

0.29%

US91412HWB58

0.27%

US544647HQ66

0.23%

Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)

0.23%

California Educational Facilities Authority, 5% 1oct2055, USD (2025A)

0.23%

University of California, 5% 15may2032, USD (2022)

0.23%

US13063EUR51

0.22%

US13063EUX20

0.22%

Irvine Ranch Water District, FRN 1oct2041, USD (2009A)

0.21%

Los Angeles Department of Water and Power, 5% 1jul2028, USD (2025)

0.21%

California, 5.25% 1aug2032, USD

0.20%

Frequently asked questions about FSMB and VTEC

FSMBvsVTECETF Comparison

First Trust Short Duration Managed Municipal ETF

Vanguard California Tax-Exempt Bond ETF

FSMB vs VTEC performance and flow charts

Performance

Cumulative Flows

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Countries

Sectors

Diversification

Top 15 holdings

How have the FSMB and VTEC ETFs performed in 2026?

As of October 16, 2026, FSMB is up 1.23% year-to-date (YTD), while VTEC has lost -2.37%. That puts FSMB better performer ahead so far this year.

Which ETF is attracting more investor money: FSMB or VTEC?

Year-to-date, the FSMB ETF saw +$150M in flows, compared to +$2.54B for VTEC.

Which ETF is more volatile: FSMB or VTEC?

Over the past year, FSMB had a volatility of 1.58%, while VTEC experienced 3.13%.

Which ETF is bigger: FSMB or VTEC?

As of October 16, 2026, FSMB holds $649.27 M in assets under management (AUM), while VTEC manages $4.15 B.

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