BROUGHT TO YOU BY:

ETF Portfolio Builder

New

ETF Portfolio Builder

New

FSMBvsVTESETF 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

VTES

Vanguard Short-Term Tax-Exempt Bond ETF

This fund is part of

Municipal Bonds

-0%

Full VTES fund page

First Trust Short Duration Managed Municipal ETF (FSMB) and Vanguard Short-Term Tax-Exempt Bond ETF (VTES) belong to the same industry segment: Municipal Bonds. In contrast, VTES's top sector exposures are Municipal. FSMB is more expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.05% for VTES. FSMB is up 1.23% year-to-date (YTD) with +$150M in YTD flows. VTES performs worse with 0.05% YTD performance, and +$2.52B in YTD flows. Run a side-by-side ETF comparison of FSMB 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.

Find out how industry players manage ETF portfolios. Discover our library of Model portfolios

FSMB vs VTES performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

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 VTES	-0.11%+0.15%	-0.86%-0.72%	+1.23%+0.05%	+1.37%+0.53%	+8.09%+9.70%	+4.26%n/a
Flows	FSMB VTES	+$31M+$1.06B	+$37M+$1.95B	+$150M+$2.52B	+$175M+$2.69B	+$250M+$3.87B	+$492M-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FSMB VTES	+2.49%+2.60%	+1.58%+1.59%	+1.68%+1.59%	+1.64%n/a
Max drawdown	FSMB VTES	-2.71%-2.66%	-2.71%-2.95%	-2.71%-2.95%	-5.98%n/a
Max drawdown duration	FSMB VTES	64d64d	64d232d	64d232d	1149dn/a

Trading data

Create an account to view trading data

Join for free

	FSMB	VTES
Last sale 10/16/2026 at 7:49 PM	$19.64	$99.56
Previous close 10/16/2026	$19.62	$99.59
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

Create an account to view replication metrics

Join for free

FSMB

is actively managed and doesn’t replicate an index

Create an account to view replication quality

Join for free

	FSMB	VTES
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	VTES
Last price	$19.64	$99.56
1D performance	+0.08%	-0.03%
AuM	$649.27 M	$4.08 B
E/R	0.34%	0.05%

Characteristics

	FSMB	VTES
Management strategy	Active	Passive
Provider	First Trust	Vanguard
Benchmark	-	S&P 0-7 Year National AMT-Free Municipal Bond Index
N° of holdings	-	1671
Asset class	-	Fixed Income
Trailing 12m distribution yield	Join	Join
Inception date	November 1, 2018	March 9, 2023
ESG	No	No

More FSMB data on Trackinsight

More VTES data on Trackinsight

Exposure

Countries

FSMB

Data will be available soon

VTES

USA

52.32%

Other

47.68%

Sectors

FSMB

Data will be available soon

VTES

Municipal

52.32%

Other

47.68%

Diversification

FSMB

Data will be available soon

VTES

Total weight of top 15 holdings out of 15

5.61%

Top 15 holdings

Data as of January 1, 1970

FSMB

Data will be available soon

VTES

US13063EUN48

0.91%

US13063EUM64

0.86%

US13063EUP95

0.78%

US13063EUU80

0.42%

North Colonie Central School District, 3.75% 25jun2027, USD (2026)

0.40%

US13063EUQ78

0.38%

US13063EUS35

0.30%

Illinois, 5% 1nov2028, USD (2017D)

0.22%

US64972JQM35

0.21%

US13063ENN21

0.19%

Illinois, 5% 1nov2027, USD (2017D)

0.19%

Los Angeles Unified School District, 5% 1jul2032, USD (2024)

0.19%

New Jersey, 5% 1jun2029, USD

0.19%

Pennsylvania Public School Building Authority, 5% 1jun2033, USD (2016A)

0.18%

New Jersey Economic Development Authority, 5% 15jun2042, USD

0.18%

Frequently asked questions about FSMB and VTES

How have the FSMB and VTES ETFs performed in 2026?

As of October 16, 2026, FSMB is up 1.23% year-to-date (YTD), while VTES has returned 0.05%. That puts FSMB better performer ahead so far this year.

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

Year-to-date, the FSMB ETF saw +$150M in flows, compared to +$2.52B for VTES.

Which ETF is more volatile: FSMB or VTES?

Over the past year, FSMB had a volatility of 1.58%, while VTES experienced 1.59%.

Which ETF is bigger: FSMB or VTES?

As of October 16, 2026, FSMB holds $649.27 M in assets under management (AUM), while VTES manages $4.08 B.

A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF

April 21, 2023

VTES

FSMBvsVTESETF Comparison

First Trust Short Duration Managed Municipal ETF

Vanguard Short-Term Tax-Exempt Bond ETF

FSMB vs VTES performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FSMB and VTES ETFs performed in 2026?

As of October 16, 2026, FSMB is up 1.23% year-to-date (YTD), while VTES has returned 0.05%. That puts FSMB better performer ahead so far this year.

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

Year-to-date, the FSMB ETF saw +$150M in flows, compared to +$2.52B for VTES.

Which ETF is more volatile: FSMB or VTES?

Over the past year, FSMB had a volatility of 1.58%, while VTES experienced 1.59%.

Which ETF is bigger: FSMB or VTES?

As of October 16, 2026, FSMB holds $649.27 M in assets under management (AUM), while VTES manages $4.08 B.

A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF

ETFs’ Next Act: From Access to Selection