Which returned more over the last year, ITM or VSDM?

In the year to Oct 28, 2026, with distributions reinvested, ITM returned −0.5% and VSDM +1.9%.

Which is cheaper, ITM or VSDM?

VSDM is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

ITM vs VSDM: Differences, Returns & Fees

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On Jul 31, 2026 ITM's duration was 5.6 years and VSDM's 4.5; VSDM charges 0.12% to ITM's 0.18%.

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Net assets: $2.3bn on Oct 27, 2026 for VanEck Intermediate Muni ETF, and $1.2bn on Sep 30, 2026 for Vanguard Short Duration Tax-Exempt Bond ETF.

ITM on its own →VSDM on its own →

At a glance

−0.5%

ITM total return, 1 year

+1.9%

VSDM total return, 1 year

0.18%

ITM expense ratio

0.12%

VSDM expense ratio

Pair scorecard

VSDM costs 0.06 points a year less; their one-year returns differ by 2.4 points.

ITM vs VSDM: Differences, Returns & Fees
Measure	ITM	VSDM
Return
Measure	ITM	VSDM
Total return, 1 year	−0.5%	+1.9%
Drawdown
Measure	ITM	VSDM
Below its high	3.0%, high on Feb 27, 2026
Benchmark
Measure	ITM	VSDM
What it tracks	ICE Intermediate AMT-Free Broad National Municipal Index	No index, actively managed
Cost and size
Measure	ITM	VSDM
Expense ratio	0.18%	0.12%
Net assets, ITM as of Oct 27, 2026 and VSDM as of Sep 30, 2026	$2.3bn	$1.2bn
Holdings
Measure	ITM	VSDM
Holdings in common	4%

Holdings in common uses holdings dated Jul 31, 2026. Method

Risk and return

Nov 29, 2024 to Oct 23, 2026 · 99 weekly returns

ITM VSDM

Return

Total return edge VSDM +3.1% +6.0%

Annualized edge VSDM +1.6% +3.1%

Price return edge VSDM −2.6% +0.1%

Risk

Volatility edge VSDM 4.8% 2.5%

Max drawdown edge VSDM −6.6% −2.2%

Risk-adjusted

Sharpe edge VSDM −0.48 −0.37

Sortino edge VSDM −0.59 −0.43

Calmar edge VSDM 0.24 1.40

Reading

VSDM returned more: +6.0% to +3.1%. VSDM swung less: 2.5% to 4.8%. VSDM fell less at its worst: −2.2% to −6.6%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: ITM vs VSDM: Differences, Returns & Fees
Measure	ITM	VSDM	Edge	How it is measured
Return
Total return	+3.1%	+6.0%	VSDM	Price change plus distributions, reinvested.
Annualized	+1.6%	+3.1%	VSDM	Total return as a yearly rate.
Price return	−2.6%	+0.1%	VSDM	Price change alone, distributions left out.
Risk
Volatility	4.8%	2.5%	VSDM	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	3.9%	2.1%	VSDM	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−6.6%	−2.2%	VSDM	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.48	−0.37	VSDM	Return above Treasury bills per unit of volatility.
Sortino	−0.59	−0.43	VSDM	Return above Treasury bills per unit of downside deviation.
Calmar	0.24	1.40	VSDM	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 99 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, ITM and VSDM hold 4% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026.

50%

0 half 100%

half

4% in common

Positions both hold · largest shared weight first ITM VSDM

BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE, due Jun 1, 2051 0.24% 0.25%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, due Aug 1, 2055 0.50% 0.23%

STHRN CA PUBLIC PWR AUTH REVENUE, due Nov 1, 2033 0.20% 0.33%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, due Feb 1, 2055 0.15% 0.18%

BUCKEYE OH TOBACCO SETTLEMENT FING AUTH, due Jun 1, 2034 0.15% 0.16%

NEW YORK ENERGY FIN DEV CORP, due Jul 1, 2056 0.24% 0.13%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, due Jan 1, 2056 0.37% 0.11%

ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE, due Nov 1, 2033 0.10% 0.36%

SOUTHEAST ENERGY AUTHORITY A COOPERATIVE, due Oct 1, 2055 0.10% 0.50%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, due Feb 1, 2055 0.15% 0.10%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, due Oct 1, 2055 0.10% 0.19%

KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE, due Jan 1, 2055 0.29% 0.09%

Only in one fund ↓

Only in ITM

NEW JERSEY ST EDUCTNL FACS AUTH REVENUE, due Jul 1, 2064 0.53%

CALIFORNIA ST, due Mar 1, 2036 0.45%

CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE, due Jul 1, 2064 0.39%

NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE, due Jun 15, 2034 0.28%

CALIFORNIA HSG FIN AGY MUNI CTFS, due Mar 25, 2035 0.28%

SOUTHEAST ENERGY AUTH AL COOPERATIVE DIST GAS SPLY REVENUE, due Nov 1, 2055 0.27%

NATIONAL FIN AUTH NH MUNI CTFS, due Jan 20, 2041 0.27%

MARION & POLK CNTYS OR SCH DIST #24J SALEM, due Jun 15, 2039 0.26%

Only in VSDM

FLORIDA ST MUNI PWR A, due Oct 1, 2030 0.38%

CALIFORNIA CMNTY CHOI, due Feb 1, 2052 0.38%

CA CMNTY CHOICE-D, due May 1, 2054 0.37%

TEXAS ST MUNI GAS ACQ, due Jan 1, 2054 0.35%

S CALIFORNIA PUB-2, due Jul 1, 2053 0.34%

CA CMNTY CHOICE-D, due Feb 1, 2031 0.32%

LOWER CO RIVER AUTH-B, due May 15, 2045 0.32%

LOWER COLORADO RIVER, due May 15, 2039 0.31%

Check overlap with more funds →

Side by side

ITM VanEck Intermediate Muni ETF VSDM Vanguard Short Duration Tax-Exempt Bond ETF

Where it sits Bond ETF Bond ETF

Issuer VanEck Vanguard

What it is Tracks an index Actively managed

Total return, 1 year −0.5% +1.9%

Expense ratio 0.18% 0.12%

Holdings 1410 3315

Net assets, ITM as of Oct 27, 2026 and VSDM as of Sep 30, 2026 $2.3bn $1.2bn

ITM and VSDM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-38C9D50CC3

ITM and VSDM are built for the same job. How do they differ in cost, holdings and results?

What each follows. ITM follows ICE Intermediate AMT-Free Broad National Municipal Index and VSDM follows No index, actively managed.
Holdings in common. 4% of the weight is in the same securities (holdings dated Jul 31, 2026).
One-year total return. Over 1 year to Oct 28, 2026 ITM returned −0.5% and VSDM +1.9% with distributions reinvested, a gap of 2.4 points.

Data as of Oct 28, 2026.

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About each fund

ITM

ITM tracks an index. Over the year to Oct 28, 2026 it returned −0.5% with distributions reinvested. The prospectus expense ratio is 0.18% a year. It sat 3.0% below its high of Feb 27, 2026 on Oct 28, 2026.

VSDM

VSDM is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +1.9% with distributions reinvested. The prospectus expense ratio is 0.12% a year.

Questions people ask

Which returned more over the last year, ITM or VSDM?: In the year to Oct 28, 2026, with distributions reinvested, ITM returned −0.5% and VSDM +1.9%.
Which is cheaper, ITM or VSDM?: VSDM is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

ITM vs MMIT ITM vs MUNI ITM vs VTEI DFNM vs ITM VSDM vs VTEI MMIT vs VSDM CGMU vs VSDM DFNM vs VSDM

Where to next

ITM on its own →VSDM on its own →Hold both: look the portfolio through →Rankings →ITM dividend history →ITM holdings →VSDM dividend history →VSDM holdings →Standards and sources →

Sources and dates

ITM filings on SEC EDGAR ↗

ITM prospectus with the expense ratio (SEC) ↗

VanEck website ↗

VSDM filings on SEC EDGAR ↗

VSDM prospectus with the expense ratio (SEC) ↗

Vanguard page for VSDM ↗

Links are sources, not endorsements. 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, ITM against VSDM, data as of Oct 28, 2026. https://etfiq.com/compare/any/itm-vs-vsdm

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