USFIvsSMBETF Comparison
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BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) belongs to the US Aggregate Bonds segment. VanEck Short Muni ETF (SMB) is part of the Municipal Bonds segment. USFI's top 3 sector exposures are Sovereign, Industrials and Finance. In contrast, SMB's top sector exposures are Municipal. USFI is more expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.07% for SMB. USFI is down -1.58% year-to-date (YTD) with -$4M in YTD flows. SMB performs better with 0.74% YTD performance, and +$24M in YTD flows. Run a side-by-side ETF comparison of USFI and SMB 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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USFI vs SMB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | USFI SMB | -0.37%+0.17% | -1.55%+0.04% | -1.58%+0.74% | +0.13%+1.66% | +9.59%+9.77% | n/a+5.63% |
| Flows | USFI SMB | -+$6M | -+$15M | -$4M+$24M | -$2M+$35M | -$2M+$58M | -+$21M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | USFI SMB | +2.74%+0.98% | +3.05%+0.99% | +6.62%+1.33% | n/a+1.46% |
| Max drawdown | USFI SMB | -2.12%-0.65% | -2.81%-1.33% | -6.90%-1.62% | n/a-6.68% |
| Max drawdown duration | USFI SMB | 65d58d | 315d185d | 76d58d | n/a1045d |
Trading data
USFI | SMB | |
Last sale 9/3/2026 at 1:30 PM | $17.13 | |
| Previous close 09/02/2026 | $17.12 | |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 4, 2026
1-year trailing difference
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USFI
is actively managed and doesn’t replicate an indexUSFI | SMB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
USFI | SMB | |
|---|---|---|
| Last price | – | $17.13 |
| 1D performance | – | +0.06% |
| AuM | $9.65 M | $316.70 M |
| E/R | 0.39% | 0.07% |
Characteristics
USFI | SMB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Franklin Templeton | VanEck |
| Benchmark | - | ICE Short AMT-Free Broad National Municipal Index |
| N° of holdings | 36 | 233 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 25, 2023 | February 22, 2008 |
| ESG | No | No |
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Exposure
Countries
USFI
USA
74.21%
Other
25.79%
SMB
USA
71.89%
Other
28.11%
Sectors
USFI
Sovereign
50.76%
Industrials
17.72%
Other
31.52%
SMB
Municipal
71.89%
Other
28.11%
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Diversification
USFI
Total weight of top 15 holdings out of 15
74.43%
SMB
Total weight of top 15 holdings out of 15
13.26%
Top 15 holdings
Data as of July 31, 2026
USFI
USA, TIPS 1.25% 15apr2031, USD (X-2031)
22.74%
USA, Notes FRN 30apr2028, USD (BB-2028)
10.24%
USA, Notes 4.25% 15aug2035, USD (E-2035)
5.55%
USA, Notes FRN 31jan2028, USD (AX-2028)
5.23%
USA, TIPS 2.375% 15feb2056, USD
4.88%
US36180AAG85
3.50%
G2 MB0873, 6% 20jan2056, USD (ABS)
3.46%
US3618N5VR78
2.89%
US3618N5RF86
2.82%
G2 MA9780, 6% 20jul2054, USD (ABS)
2.80%
G2 MA9669, 6% 20may2054, USD (ABS)
2.36%
US36179YKT00
2.12%
US102104AA49
2.11%
USA, Bonds 4.75% 15may2055, USD
2.11%
G2 MB0093, 6% 20dec2054, USD (ABS)
1.60%
SMB
US64972LAF04
1.05%
US45506EMV29
1.03%
California, 5% 1apr2030, USD
1.03%
US160853VD67
1.03%
Southeast Energy Authority, 4% 1dec2051, USD
0.95%
Massachusetts, 5% 1may2031, USD
0.91%
US48542AFE64
0.90%
New Jersey, 2% 1jun2030, USD (2021)
0.89%
US64972KKJ33
0.84%
Massachusetts, 5% 1oct2031, USD (2022)
0.79%
US13078HAY80
0.79%
Massachusetts Water Resources Authority, 5.25% 1aug2030, USD
0.78%
US56035DGT37
0.76%
Main Street Natural Gas Inc., 5% 1apr2054, USD (2024D)
0.75%
Tennessee Energy Acquisition Corp., 5% 1may2052, USD (2020A)
0.75%
Frequently asked questions about USFI and SMB
How have the USFI and SMB ETFs performed in 2026?
As of September 2, 2026, USFI is down -1.58% year-to-date (YTD), while SMB has returned 0.74%. That puts SMB better performer ahead so far this year.
Which ETF is attracting more investor money: USFI or SMB?
Year-to-date, the USFI ETF saw -$4M in flows, compared to +$24M for SMB.
Which ETF is more volatile: USFI or SMB?
Over the past year, USFI had a volatility of 3.05%, while SMB experienced 0.99%.
Which ETF is bigger: USFI or SMB?
As of September 2, 2026, USFI holds $9.65 M in assets under management (AUM), while SMB manages $316.70 M.
What sectors do the USFI and SMB ETFs invest in?
USFI leans toward sectors like Sovereign and Industrials. Meanwhile, SMB focuses on Municipal.
What are the top holdings of the USFI ETF and SMB ETF?
USFI top holdings include USA, TIPS 1.25% 15apr2031, USD (X-2031), USA, Notes FRN 30apr2028, USD (BB-2028) and USA, Notes 4.25% 15aug2035, USD (E-2035). SMB holds in its top three: US64972LAF04, US45506EMV29 and California, 5% 1apr2030, USD.
Which ETF is more diversified: USFI or SMB?
USFI holds 58 securities with 74.43% of its assets in the top 15. SMB has 329 securities and a top 15 weight of 13.26%.
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