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

In the year to Oct 28, 2026, with distributions reinvested, MUNI returned +0.1% and VSDM +1.9%.

Which is cheaper, MUNI or VSDM?

VSDM is cheaper, by 0.23 percentage points a year. That is about $23 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

MUNI vs VSDM: Differences, Returns & Fees

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MUNI's duration was 4.5 years on Jun 30, 2026 and VSDM's 4.5 on Jul 31, 2026; VSDM charges 0.12% to MUNI's 0.35%.

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Net assets: $3.1bn on Jun 30, 2026 for PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund, and $1.2bn on Sep 30, 2026 for Vanguard Short Duration Tax-Exempt Bond ETF.

MUNI on its own →VSDM on its own →

At a glance

+0.1%

MUNI total return, 1 year

+1.9%

VSDM total return, 1 year

0.35%

MUNI expense ratio

0.12%

VSDM expense ratio

Pair scorecard

VSDM costs 0.23 points a year less; their one-year returns differ by 1.8 points.

MUNI vs VSDM: Differences, Returns & Fees
Measure	MUNI	VSDM
Return
Measure	MUNI	VSDM
Total return, 1 year	+0.1%	+1.9%
Benchmark
Measure	MUNI	VSDM
What it tracks	No index, actively managed	No index, actively managed
Cost and size
Measure	MUNI	VSDM
Expense ratio	0.35%	0.12%
Net assets, MUNI as of Jun 30, 2026 and VSDM as of Sep 30, 2026	$3.1bn	$1.2bn
Holdings
Measure	MUNI	VSDM
Holdings in common	5%

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

Risk and return

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

MUNI VSDM

Return

Total return edge VSDM +3.0% +6.0%

Annualized edge VSDM +1.6% +3.1%

Price return edge VSDM −3.3% +0.1%

Risk

Volatility edge VSDM 4.1% 2.5%

Max drawdown edge VSDM −4.8% −2.2%

Risk-adjusted

Sharpe edge VSDM −0.58 −0.37

Sortino edge VSDM −0.69 −0.43

Calmar edge VSDM 0.33 1.40

Reading

VSDM returned more: +6.0% to +3.0%. VSDM swung less: 2.5% to 4.1%. VSDM fell less at its worst: −2.2% to −4.8%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: MUNI vs VSDM: Differences, Returns & Fees
Measure	MUNI	VSDM	Edge	How it is measured
Return
Total return	+3.0%	+6.0%	VSDM	Price change plus distributions, reinvested.
Annualized	+1.6%	+3.1%	VSDM	Total return as a yearly rate.
Price return	−3.3%	+0.1%	VSDM	Price change alone, distributions left out.
Risk
Volatility	4.1%	2.5%	VSDM	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	3.4%	2.1%	VSDM	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−4.8%	−2.2%	VSDM	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.58	−0.37	VSDM	Return above Treasury bills per unit of volatility.
Sortino	−0.69	−0.43	VSDM	Return above Treasury bills per unit of downside deviation.
Calmar	0.33	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, MUNI and VSDM hold 5% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

50%

0 half 100%

half

5% in common

Positions both hold · largest shared weight first MUNI VSDM

Rutherford County Health & Educational Facilities Board, due Nov 15, 2048 0.19% 0.21%

California Community Choice Financing Authority, due Oct 1, 2055 0.53% 0.19%

Tennergy Corp., due Oct 1, 2053 0.21% 0.18%

Black Belt Energy Gas District, due Oct 1, 2055 0.16% 0.35%

Lee County Industrial Development Authority, due Apr 1, 2065 0.14% 0.15%

California Community Choice Financing Authority, due May 1, 2054 0.21% 0.14%

Lower Colorado River Authority, due May 15, 2045 0.14% 0.32%

California Community Choice Financing Authority, due Nov 1, 2055 0.14% 0.23%

California Community Choice Financing Authority, due Feb 1, 2054 0.16% 0.14%

California Community Choice Financing Authority, due Jan 1, 2055 0.13% 0.29%

New York Energy Finance Development Corp., due Jul 1, 2056 0.25% 0.13%

Central Texas Turnpike System, due Aug 15, 2042 0.12% 0.17%

Only in one fund ↓

Only in MUNI

U.S. Treasury Notes, due Feb 29, 2028 2.20%

U.S. Treasury Notes, due Feb 28, 2031 1.78%

U.S. Treasury Notes, due Apr 30, 2031 1.16%

U.S. Treasury Notes, due Feb 28, 2031 0.86%

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, due Jul 1, 2046 0.81%

Connecticut State Health & Educational Facilities Authority, due Jul 1, 2057 0.81%

Texas Municipal Gas Acquisition & Supply Corp. V, due Apr 1, 2036 0.80%

FHLMC Multifamily VRD Certificates, due Jan 25, 2043 0.71%

Only in VSDM

SE ENERGY AUTH-C, due Oct 1, 2055 0.50%

NJ TRANSPRTN TRUST-A, due Dec 15, 2034 0.41%

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%

S E ENERGY-B-REV, due Nov 1, 2033 0.36%

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

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

Check overlap with more funds →

Side by side

MUNI PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund VSDM Vanguard Short Duration Tax-Exempt Bond ETF

Where it sits Bond ETF Bond ETF

Issuer PIMCO Vanguard

What it is Actively managed Actively managed

Total return, 1 year +0.1% +1.9%

Expense ratio 0.35% 0.12%

Holdings 647 3315

Net assets, MUNI as of Jun 30, 2026 and VSDM as of Sep 30, 2026 $3.1bn $1.2bn

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

Client brief · page 1 of 2 Report BR-AF3BD5C58F

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

Holdings in common. 5% of the weight is in the same securities (holdings dated Jun 30, 2026 and Jul 31, 2026).
Number of holdings. MUNI holds 647 positions and VSDM holds 3315.
Cost. MUNI charges 0.35% of assets a year and VSDM 0.12%, a gap of 0.23 points.

Data as of Oct 28, 2026.

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About each fund

MUNI

MUNI is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +0.1% with distributions reinvested. The prospectus expense ratio is 0.35% a year.

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, MUNI or VSDM?: In the year to Oct 28, 2026, with distributions reinvested, MUNI returned +0.1% and VSDM +1.9%.
Which is cheaper, MUNI or VSDM?: VSDM is cheaper, by 0.23 percentage points a year. That is about $23 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

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

Where to next

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

Sources and dates

MUNI filings on SEC EDGAR ↗

MUNI prospectus with the expense ratio (SEC) ↗

PIMCO 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, MUNI against VSDM, data as of Oct 28, 2026. https://etfiq.com/compare/any/muni-vs-vsdm

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