VTESvsSHYDETF Comparison
VS
Vanguard Short-Term Tax-Exempt Bond ETF (VTES) and VanEck Short High Yield Muni ETF (SHYD) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. VTES is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.32% for SHYD. VTES is up 0.59% year-to-date (YTD) with +$845M in YTD flows. SHYD performs better with 0.96% YTD performance, and +$69M in YTD flows. Run a side-by-side ETF comparison of VTES and SHYD 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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VTES vs SHYD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTES SHYD | +0.10%-0.01% | -0.11%-0.07% | +0.59%+0.96% | +1.59%+2.86% | +9.43%+12.42% | n/a+3.37% |
| Flows | VTES SHYD | +$214M+$7M | +$446M+$35M | +$845M+$69M | +$1.13B+$113M | +$2.24B+$68M | -+$95M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTES SHYD | +1.12%+1.50% | +1.11%+1.57% | +1.48%+2.27% | n/a+2.39% |
| Max drawdown | VTES SHYD | -0.77%-0.98% | -1.38%-2.14% | -1.81%-2.95% | n/a-12.22% |
| Max drawdown duration | VTES SHYD | 58d58d | 188d123d | 59d114d | n/a1421d |
Trading data
VTES | SHYD | |
Last sale 9/2/2026 at 1:30 PM | $100.35 | $22.55 |
| Previous close 09/02/2026 | $100.36 | $22.54 |
| 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 August 31, 2026
1-year trailing difference
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VTES | SHYD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
VTES | SHYD | |
|---|---|---|
| Last price | $100.35 | $22.55 |
| 1D performance | -0.00% | +0.04% |
| AuM | $2.42 B | $454.66 M |
| E/R | 0.05% | 0.32% |
Characteristics
VTES | SHYD | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | VanEck |
| Benchmark | S&P 0-7 Year National AMT-Free Municipal Bond Index | ICE 1-12 Year Broad High Yield Crossover Municipal Index |
| N° of holdings | 1686 | 270 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 9, 2023 | January 13, 2014 |
| ESG | No | No |
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Exposure
Countries
VTES
USA
59.38%
Other
40.62%
SHYD
USA
57.85%
Other
42.15%
Sectors
VTES
Municipal
59.38%
Other
40.62%
SHYD
Municipal
57.85%
Other
42.15%
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Diversification
VTES
Total weight of top 15 holdings out of 15
3.27%
SHYD
Total weight of top 15 holdings out of 15
13.22%
Top 15 holdings
Data as of July 31, 2026
VTES
North Colonie Central School District, 3.75% 25jun2027, USD (2026)
0.46%
US64972JQM35
0.25%
US13063ENN21
0.22%
Illinois, 5% 1nov2027, USD (2017D)
0.22%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.21%
New Jersey Economic Development Authority, 5% 15jun2042, USD
0.21%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.21%
New Jersey, 5% 1jun2029, USD
0.20%
New Jersey, 5% 1jun2028, USD
0.20%
New Jersey Transportation Trust Fund Authority, 5% 15jun2028, USD
0.20%
California, 5.25% 1aug2032, USD
0.18%
Wyandotte Unified School District №500, 5.25% 1sep2042, USD (2016-A)
0.18%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.18%
New Jersey, 4% 1jun2030, USD
0.17%
US544647HQ66
0.17%
SHYD
California Municipal Finance Authority, 4% 15jul2029, USD (2019)
1.58%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
1.20%
Puerto Rico, 5.75% 1jul2031, USD
0.94%
Puerto Rico, 4% 1jul2033, USD
0.87%
Denver, 5% 1oct2032, USD (2017)
0.87%
US13034A7E44
0.84%
Greater Orlando Aviation Authority, 5.5% 1nov2037, USD (2025)
0.84%
US09182TGC53
0.81%
US05786PAA12
0.81%
Mission Economic Development Corp., 4.625% 1oct2031, USD (2018)
0.79%
New York Transportation Development Corp., 4% 1jul2035, USD (2016A)
0.77%
Puerto Rico, 5.625% 1jul2029, USD
0.74%
US74440DFN93
0.73%
US650116FD37
0.73%
Baldwin Industrial Development Authority, 4.3% 1mar2056, USD (2026A)
0.69%
Frequently asked questions about VTES and SHYD
How have the VTES and SHYD ETFs performed in 2026?
As of September 2, 2026, VTES is up 0.59% year-to-date (YTD), while SHYD has returned 0.96%. That puts SHYD better performer ahead so far this year.
Which ETF is attracting more investor money: VTES or SHYD?
Year-to-date, the VTES ETF saw +$845M in flows, compared to +$69M for SHYD.
Which ETF is more volatile: VTES or SHYD?
Over the past year, VTES had a volatility of 1.11%, while SHYD experienced 1.57%.
Which ETF is bigger: VTES or SHYD?
As of September 2, 2026, VTES holds $2.42 B in assets under management (AUM), while SHYD manages $454.66 M.
What sectors do the VTES and SHYD ETFs invest in?
VTES leans toward sectors like Municipal. Meanwhile, SHYD focuses on Municipal.
What are the top holdings of the VTES ETF and SHYD ETF?
VTES top holdings include North Colonie Central School District, 3.75% 25jun2027, USD (2026), US64972JQM35 and US13063ENN21. SHYD holds in its top three: California Municipal Finance Authority, 4% 15jul2029, USD (2019), Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1) and Puerto Rico, 5.75% 1jul2031, USD.
Which ETF is more diversified: VTES or SHYD?
VTES holds 3414 securities with 3.27% of its assets in the top 15. SHYD has 514 securities and a top 15 weight of 13.22%.
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