VSDMvsTAXTETF Comparison
VS
Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) and Northern Trust Tax-Exempt Bond ETF (TAXT) 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 TAXT. VSDM is up 1.24% year-to-date (YTD) with +$618M in YTD flows. TAXT performs worse with 0.05% YTD performance, and +$41M in YTD flows. Run a side-by-side ETF comparison of VSDM and TAXT 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 TAXT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VSDM TAXT | +0.17%-0.59% | +0.00%-1.47% | +1.24%+0.05% | +2.70%+3.86% | n/an/a | n/an/a |
| Flows | VSDM TAXT | +$129M+$5M | +$287M+$6M | +$618M+$41M | +$763M+$51M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VSDM TAXT | +1.16%+2.14% | +1.15%+2.13% | n/an/a | n/an/a |
| Max drawdown | VSDM TAXT | -0.77%-2.05% | -1.40%-2.28% | n/an/a | n/an/a |
| Max drawdown duration | VSDM TAXT | 59d59d | 123d117d | n/an/a | n/an/a |
Trading data
VSDM | TAXT | |
Last sale 9/4/2026 at 1:30 PM | $75.84 | $50.28 |
| Previous close 09/03/2026 | $75.82 | $50.29 |
| Consolidated volume 09/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 5, 2026
1-year trailing difference
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VSDM
is actively managed and doesn’t replicate an indexVSDM | TAXT | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/4/2026 at 1:30 PM
Live
Closed
VSDM | TAXT | |
|---|---|---|
| Last price | $75.84 | $50.28 |
| 1D performance | +0.02% | -0.02% |
| AuM | $957.99 M | $64.39 M |
| E/R | 0.12% | 0.05% |
Characteristics
VSDM | TAXT | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Vanguard | Northern Trust |
| Benchmark | - | ICE All Maturity Focused Municipal Bond Index |
| N° of holdings | 943 | 534 |
| 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
46.15%
Other
53.85%
TAXT
USA
45.85%
Other
54.15%
Sectors
VSDM
Municipal
46.15%
Other
53.85%
TAXT
Municipal
45.85%
Other
54.15%
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Diversification
VSDM
Total weight of top 15 holdings out of 15
5.32%
TAXT
Total weight of top 15 holdings out of 15
4.8%
Top 15 holdings
Data as of July 31, 2026
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%
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%
Frequently asked questions about VSDM and TAXT
How have the VSDM and TAXT ETFs performed in 2026?
As of September 3, 2026, VSDM is up 1.24% year-to-date (YTD), while TAXT has returned 0.05%. That puts VSDM better performer ahead so far this year.
Which ETF is attracting more investor money: VSDM or TAXT?
Year-to-date, the VSDM ETF saw +$618M in flows, compared to +$41M for TAXT.
Which ETF is more volatile: VSDM or TAXT?
Over the past year, VSDM had a volatility of 1.15%, while TAXT experienced 2.13%.
Which ETF is bigger: VSDM or TAXT?
As of September 3, 2026, VSDM holds $957.99 M in assets under management (AUM), while TAXT manages $64.39 M.
What sectors do the VSDM and TAXT ETFs invest in?
VSDM leans toward sectors like Municipal. Meanwhile, TAXT focuses on Municipal.
What are the top holdings of the VSDM ETF and TAXT ETF?
VSDM top holdings include US84136HAH66, New Jersey Transportation Trust Fund Authority, 5% 15dec2034, USD and Florida Municipal Power Agency, 4% 1oct2030, USD (2018A). TAXT holds in its top three: University of California, 5% 15may2052, USD (2022), New York Urban Development Corp., 5% 15mar2042, USD (2017C) and New York Thruway Authority, 5% 15mar2049, USD.
Which ETF is more diversified: VSDM or TAXT?
VSDM holds 2913 securities with 5.32% of its assets in the top 15. TAXT has 1297 securities and a top 15 weight of 4.8%.
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Latest news about VSDM & TAXT
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXT
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