TAXTvsVSDMETF Comparison
VS
Northern Trust Tax-Exempt Bond ETF (TAXT) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TAXT is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.12% for VSDM. TAXT is up 0.01% year-to-date (YTD) with +$41M in YTD flows. VSDM performs better with 1.21% YTD performance, and +$637M in YTD flows. Run a side-by-side ETF comparison of TAXT and VSDM 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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TAXT vs VSDM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXT VSDM | -1.16%-0.27% | -1.53%-0.05% | +0.01%+1.21% | +2.63%+2.18% | n/an/a | n/an/a |
| Flows | TAXT VSDM | +$5M+$129M | +$6M+$300M | +$41M+$637M | +$51M+$775M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXT VSDM | +2.13%+1.16% | +2.01%+1.12% | n/an/a | n/an/a |
| Max drawdown | TAXT VSDM | -2.07%-0.77% | -2.28%-1.40% | n/an/a | n/an/a |
| Max drawdown duration | TAXT VSDM | 64d64d | 117d123d | n/an/a | n/an/a |
Trading data
TAXT | VSDM | |
Last sale 9/8/2026 at 1:30 PM | $50.23 | $75.80 |
| Previous close 09/08/2026 | $50.28 | $75.84 |
| Consolidated volume 09/08/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 9, 2026
1-year trailing difference
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VSDM
is actively managed and doesn’t replicate an indexTAXT | VSDM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/8/2026 at 1:30 PM
Live
Closed
TAXT | VSDM | |
|---|---|---|
| Last price | $50.23 | $75.80 |
| 1D performance | -0.11% | -0.05% |
| AuM | $64.36 M | $977.43 M |
| E/R | 0.05% | 0.12% |
Characteristics
TAXT | VSDM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Northern Trust | Vanguard |
| Benchmark | ICE All Maturity Focused Municipal Bond Index | - |
| N° of holdings | 534 | 943 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | November 19, 2024 |
| ESG | No | No |
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Exposure
Countries
TAXT
USA
45.85%
Other
54.15%
VSDM
USA
46.15%
Other
53.85%
Sectors
TAXT
Municipal
45.85%
Other
54.15%
VSDM
Municipal
46.15%
Other
53.85%
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Diversification
TAXT
Total weight of top 15 holdings out of 15
4.8%
VSDM
Total weight of top 15 holdings out of 15
5.32%
Top 15 holdings
Data as of July 31, 2026
TAXT
University of California, 5% 15may2052, USD (2022)
0.49%
New York Urban Development Corp., 5% 15mar2042, USD (2017C)
0.47%
New York Thruway Authority, 5% 15mar2049, USD
0.46%
US79771FLJ48
0.35%
US13077DUQ32
0.34%
US181000TQ31
0.30%
US84136HCT86
0.30%
Monroe Industrial Development Corp., 4% 1jul2050, USD (2020A)
0.28%
Triborough Bridge and Tunnel Authority, 5% 15may2052, USD
0.27%
Indianapolis Local Public Improvement Bond Bank, 5% 1feb2033, USD
0.26%
South Dakota Conservancy District, 5% 1aug2056, USD (2026B)
0.26%
City of New York, 5.25% 1feb2053, USD (2026)
0.26%
Metropolitan Atlanta Rapid Transit Authority, 3.25% 1jul2039, USD (2017C)
0.26%
US250375NB42
0.26%
Virginia Public Building Authority, 5% 1aug2033, USD (2020A)
0.25%
VSDM
US84136HAH66
0.50%
New Jersey Transportation Trust Fund Authority, 5% 15dec2034, USD
0.41%
Florida Municipal Power Agency, 4% 1oct2030, USD (2018A)
0.38%
US13013JAP12
0.38%
US13013JCS33
0.37%
Energy Southeast, 5% 1nov2033, USD (2026)
0.36%
US09182TEC71
0.35%
Texas Municipal Gas Acquisition and Supply Corp., 5.5% 1jan2054, USD (2023A)
0.35%
US842469DL92
0.34%
Southern California Public Power Authority, 5% 1nov2033, USD (2026A)
0.33%
California Community Choice Financing Authority, 5% 1feb2031, USD (2026D)
0.32%
US54811GS350
0.32%
US54811GM494
0.31%
US13013JBJ43
0.30%
Kentucky Public Energy Authority, 5% 1jun2034, USD (2026)
0.29%
Frequently asked questions about TAXT and VSDM
How have the TAXT and VSDM ETFs performed in 2026?
As of September 8, 2026, TAXT is up 0.01% year-to-date (YTD), while VSDM has returned 1.21%. That puts VSDM better performer ahead so far this year.
Which ETF is attracting more investor money: TAXT or VSDM?
Year-to-date, the TAXT ETF saw +$41M in flows, compared to +$637M for VSDM.
Which ETF is more volatile: TAXT or VSDM?
Over the past year, TAXT had a volatility of 2.01%, while VSDM experienced 1.12%.
Which ETF is bigger: TAXT or VSDM?
As of September 8, 2026, TAXT holds $64.36 M in assets under management (AUM), while VSDM manages $977.43 M.
What sectors do the TAXT and VSDM ETFs invest in?
TAXT leans toward sectors like Municipal. Meanwhile, VSDM focuses on Municipal.
What are the top holdings of the TAXT ETF and VSDM ETF?
TAXT top holdings include University of California, 5% 15may2052, USD (2022), New York Urban Development Corp., 5% 15mar2042, USD (2017C) and New York Thruway Authority, 5% 15mar2049, USD. VSDM holds in its top three: US84136HAH66, New Jersey Transportation Trust Fund Authority, 5% 15dec2034, USD and Florida Municipal Power Agency, 4% 1oct2030, USD (2018A).
Which ETF is more diversified: TAXT or VSDM?
TAXT holds 1297 securities with 4.8% of its assets in the top 15. VSDM has 2913 securities and a top 15 weight of 5.32%.
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Latest news about TAXT & VSDM
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February 10, 2026
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