VSDMvsTAXSETF Comparison
VS
Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) and Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. VSDM is more expensive with a Total Expense Ratio (TER) of 0.12%, versus 0.05% for TAXS. VSDM is up 0.45% year-to-date (YTD) with +$1.01B in YTD flows. TAXS performs better with 0.77% YTD performance, and +$95M in YTD flows. Run a side-by-side ETF comparison of VSDM and TAXS 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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VSDM vs TAXS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VSDM TAXS | -0.08%+0.09% | -0.90%-0.40% | +0.45%+0.77% | +0.97%+1.66% | n/an/a | n/an/a |
| Flows | VSDM TAXS | +$326M+$19M | +$563M+$6M | +$1.01B+$95M | +$1.11B+$158M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VSDM TAXS | +2.68%+1.92% | +1.65%+1.20% | n/an/a | n/an/a |
| Max drawdown | VSDM TAXS | -2.74%-1.97% | -2.75%-1.97% | n/an/a | n/an/a |
| Max drawdown duration | VSDM TAXS | 64d52d | 102d52d | n/an/a | n/an/a |
Trading data
VSDM | TAXS | |
Last sale 10/19/2026 at 4:06 PM | $75.02 | $49.79 |
| Previous close 10/16/2026 | $75.07 | $49.68 |
| 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 October 19, 2026
1-year trailing difference
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VSDM
is actively managed and doesn’t replicate an indexVSDM | TAXS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 4:06 PM
Live
Closed
VSDM | TAXS | |
|---|---|---|
| Last price | $75.02 | $49.79 |
| 1D performance | -0.07% | +0.22% |
| AuM | $1.34 B | $164.91 M |
| E/R | 0.12% | 0.05% |
Characteristics
VSDM | TAXS | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Vanguard | Northern Trust |
| Benchmark | - | ICE Short Term Focused Municipal Bond Index |
| N° of holdings | 965 | 782 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2024 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
VSDM
USA
42.8%
Other
57.2%
TAXS
USA
42.95%
Other
57.05%
Sectors
VSDM
Municipal
42.8%
Other
57.2%
TAXS
Municipal
42.95%
Other
57.05%
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Diversification
VSDM
Total weight of top 15 holdings out of 15
5.2%
TAXS
Total weight of top 15 holdings out of 15
3.25%
Top 15 holdings
Data as of August 31, 2026
VSDM
US13013JCS33
0.49%
California Community Choice Financing Authority, 5% 1jul2053, USD (2023B)
0.44%
US84136HAH66
0.44%
New Jersey Transportation Trust Fund Authority, 5% 15dec2034, USD
0.36%
Rutherford Health and Educational Facilities Board, 5% 15nov2048, USD (2025B-1)
0.33%
Florida Municipal Power Agency, 4% 1oct2030, USD (2018A)
0.33%
US13013JAP12
0.33%
US09182TEC71
0.33%
US54811GS350
0.33%
Energy Southeast, 5% 1nov2033, USD (2026)
0.31%
US09182TLC98
0.31%
Texas Municipal Gas Acquisition and Supply Corp., 5.5% 1jan2054, USD (2023A)
0.31%
US842469DL92
0.30%
US56035DEN84
0.30%
Southern California Public Power Authority, 5% 1nov2033, USD (2026A)
0.29%
TAXS
US64972GU289
0.54%
US45505MJL19
0.23%
US267169HD59
0.21%
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
0.21%
US254845TN04
0.20%
US938782EQ84
0.20%
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
0.19%
State of Ohio, 5% 15dec2030, USD (2019-1)
0.19%
Energy Southeast, 5.5% 1nov2053, USD (2023A-1)
0.18%
US604146GB05
0.18%
Kentucky, 5% 1apr2030, USD
0.18%
US84136JAE91
0.18%
Ohio Water Development Authority, 5% 1dec2029, USD (2019)
0.18%
US39081JGT97
0.18%
US842039EX31
0.18%
Frequently asked questions about VSDM and TAXS
How have the VSDM and TAXS ETFs performed in 2026?
As of October 16, 2026, VSDM is up 0.45% year-to-date (YTD), while TAXS has returned 0.77%. That puts TAXS better performer ahead so far this year.
Which ETF is attracting more investor money: VSDM or TAXS?
Year-to-date, the VSDM ETF saw +$1.01B in flows, compared to +$95M for TAXS.
Which ETF is more volatile: VSDM or TAXS?
Over the past year, VSDM had a volatility of 1.65%, while TAXS experienced 1.2%.
Which ETF is bigger: VSDM or TAXS?
As of October 16, 2026, VSDM holds $1.34 B in assets under management (AUM), while TAXS manages $164.91 M.
What sectors do the VSDM and TAXS ETFs invest in?
VSDM leans toward sectors like Municipal. Meanwhile, TAXS focuses on Municipal.
What are the top holdings of the VSDM ETF and TAXS ETF?
VSDM top holdings include US13013JCS33, California Community Choice Financing Authority, 5% 1jul2053, USD (2023B) and US84136HAH66. TAXS holds in its top three: US64972GU289, US45505MJL19 and US267169HD59.
Which ETF is more diversified: VSDM or TAXS?
VSDM holds 3102 securities with 5.2% of its assets in the top 15. TAXS has 1947 securities and a top 15 weight of 3.25%.
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Latest news about VSDM & TAXS
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXS
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