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CGSM vs VTES: Differences, Returns & Fees

CGSM's duration was 2.4 years on Jun 30, 2026 and VTES's 2.8 on May 31, 2026; VTES charges 0.05% to CGSM's 0.25%. Net assets: $1.6bn on Oct 8, 2026 for Capital Group Short Duration Municipal Income ETF, and $3.6bn on Sep 30, 2026 for Vanguard Short-Term Tax-Exempt Bond ETF.

VTES costs 0.20 points a year less; their one-year returns differ by 0.8 points; VTES is 2.3 times larger.

CGSMVTES
Expense ratio0.25%0.05%
Net assets, as of Sep 30, 2026$1.6bn$3.6bn
Total return, 1 year+0.8%0.0%
What it tracksNo index, actively managedS&P 0-7 Year National AMT-Free Municipal Bond Index
Holdings in common4%

Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026.

+0.8%
CGSM total return, 1 year
0.0%
VTES total return, 1 year
0.25%
CGSM expense ratio
0.05%
VTES expense ratio

What they hold in common

By the books each fund has filed, CGSM and VTES hold 4% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Jun 30, 2026.

half

4% in common

Positions both hold, largest shared weight first
Holding CGSM VTES
CALIFORNIA ST, due Aug 1, 2030 0.23% 0.25%
EAST CNTY ADVANCED WTR PURIFICATION JT PWRS AUTH, due Sep 1, 2026 0.20% 0.20%
LOS ANGELES CA DEPT OF WTR & PWR REVENUE, due Jul 1, 2028 0.46% 0.17%
UNIV OF CALIFORNIA CA REVENUES, due May 15, 2030 0.77% 0.15%
LOS ANGELES CA DEPT OF WTR & PWR REVENUE, due Jul 1, 2030 0.19% 0.15%
WASHINGTON ST, due Jul 1, 2026 0.13% 0.13%
CALIFORNIA ST, due Mar 1, 2033 0.11% 0.13%
MASSACHUSETTS ST DEV FIN AGY REVENUE, due Feb 15, 2031 0.26% 0.11%
MARYLAND ST, due Aug 1, 2029 0.24% 0.09%
CALIFORNIA ST, due Aug 1, 2031 0.15% 0.08%
SAN ANTONIO TX INDEP SCH DIST, due Aug 15, 2026 0.08% 0.10%
NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE, due Mar 15, 2031 0.07% 0.14%
Only in CGSM
MARYLAND ST, due Jun 1, 2030 1.08%
FLORIDA ST BRD OF EDU PUBLIC EDU, due Jun 1, 2029 1.06%
GEORGIA ST, due Dec 1, 2031 1.05%
SOUTH CAROLINA ST JOBS-ECON DEV AUTH HOSP REVENUE, due May 1, 2048 1.03%
ROCHESTER MN HLTH CARE FACS REVENUE, due Apr 1, 2066 1.02%
MISSISSIPPI BUSINESS FIN CORP MS PORT FAC REVENUE, due Jun 1, 2043 1.01%
PHOENIX AZ INDL DEV AUTH HLTHCARE FACS REVENUE, due Nov 15, 2052 1.00%
CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE, due Jul 1, 2042 0.97%
Only in VTES
NYC TRANSITIONAL-G-1, due Nov 1, 2029 0.27%
NEW JERSEY ST ECON DE, due Jun 15, 2042 0.23%
DALLAS ISD-B, due Feb 15, 2056 0.23%
ILLINOIS ST-D, due Nov 1, 2027 0.23%
NEW JERSEY ST-A, due Jun 1, 2028 0.22%
NEW JERSEY ST TRANSPR, due Jun 15, 2028 0.22%
LOS ANGELES UNIF SD-A, due Jul 1, 2032 0.21%
WYANDOTTE CO SD#500-A, due Sep 1, 2042 0.20%

Check overlap with more funds →

On the same fields

CGSM
Capital Group Short Duration Municipal Income ETF
VTES
Vanguard Short-Term Tax-Exempt Bond ETF
Where it sits Bond ETF Bond ETF
Issuer Capital Group Vanguard
What it is Actively managed Tracks an index
Total return, 1 year +0.8% 0.0%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −16.4 pts −17.2 pts
Expense ratio 0.25% 0.05%
Holdings 1007 3443
Net assets, CGSM as of Oct 8, 2026 and VTES as of Sep 30, 2026 $1.6bn $3.6bn

CGSM and VTES on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

CGSM in plain words

CGSM is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +0.8% with distributions reinvested. The prospectus expense ratio is 0.25% a year.

VTES in plain words

VTES tracks an index. Over the year to Oct 9, 2026 it returned 0.0% with distributions reinvested. The prospectus expense ratio is 0.05% a year.

Questions people ask

Which returned more over the last year, CGSM or VTES?
In the year to Oct 9, 2026, with distributions reinvested, CGSM returned +0.8% and VTES 0.0%.
Which is cheaper, CGSM or VTES?
VTES is cheaper, by 0.20 percentage points a year. That is about $20 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
CGSM vs JMSTCGSM vs TAFICGSM vs SMMUCGSM vs SUBJMST vs VTESMEAR vs VTESTAFI vs VTESSMMU vs VTES
CGSM on its own →VTES on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
CGSM filings on SEC EDGAR ↗CGSM prospectus with the expense ratio (SEC) ↗Capital Group page for CGSM ↗VTES filings on SEC EDGAR ↗VTES prospectus with the expense ratio (SEC) ↗Vanguard page for VTES ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, CGSM against VTES, data as of Oct 9, 2026. https://etfiq.com/compare/any/cgsm-vs-vtes

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.