Which returned more over the last year, SMMU or VTES?

In the year to Oct 9, 2026, with distributions reinvested, SMMU returned +1.1% and VTES 0.0%.

Which is cheaper, SMMU or VTES?

VTES is cheaper, by 0.30 percentage points a year. That is about $30 on $10,000 held for a year. Fees come from each fund's prospectus.

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SMMU vs VTES: Differences, Returns & Fees

SMMU's duration was 1.7 years on Jun 30, 2026 and VTES's 2.8 on May 31, 2026; VTES charges 0.05% to SMMU's 0.35%. Net assets: $1.1bn on Jun 30, 2026 for PIMCO Short Term Municipal Bond Active Exchange-Traded Fund, and $3.6bn on Sep 30, 2026 for Vanguard Short-Term Tax-Exempt Bond ETF.

VTES costs 0.30 points a year less; their one-year returns differ by 1.1 points.

	SMMU	VTES
Expense ratio	0.35%	0.05%
Net assets, SMMU as of Jun 30, 2026 and VTES as of Sep 30, 2026	$1.1bn	$3.6bn
Total return, 1 year	+1.1%	0.0%
What it tracks	No index, actively managed	S&P 0-7 Year National AMT-Free Municipal Bond Index
Holdings in common	2%

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

+1.1%

SMMU total return, 1 year

0.0%

VTES total return, 1 year

0.35%

SMMU expense ratio

0.05%

VTES expense ratio

What they hold in common

By the books each fund has filed, SMMU and VTES hold 2% 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.

50%

half

2% in common

Positions both hold, largest shared weight first

Holding SMMU VTES

State of New Jersey, due Jun 1, 2028 0.18% 0.22%

California Municipal Finance Authority, due Jun 30, 2032 0.26% 0.16%

Long Island Power Authority, due Sep 1, 2055 0.34% 0.11%

City of San Antonio Electric & Gas Systems Revenue, due Feb 1, 2055 0.39% 0.10%

State of California, due Aug 1, 2032 0.10% 0.15%

State of California, due Aug 1, 2029 0.61% 0.09%

North Texas Tollway Authority, due Jan 1, 2027 0.24% 0.09%

New Jersey Economic Development Authority, due Mar 1, 2028 0.20% 0.09%

State of Washington, due Jul 1, 2026 0.09% 0.13%

Nebraska Public Power District, due Jul 1, 2028 0.16% 0.08%

Massachusetts Development Finance Agency, due Oct 1, 2065 0.30% 0.08%

Fort Bend Independent School District, due Aug 1, 2055 1.25% 0.07%

Only in SMMU

U.S. Treasury Notes, due Feb 29, 2028 2.24%

U.S. Treasury Notes, due Feb 28, 2031 1.81%

Connecticut State Health & Educational Facilities Authority, due Jul 1, 2057 1.75%

Federal Home Loan Bank Discount Notes, due Sep 4, 2026 1.68%

New York City Municipal Water Finance Authority, due Jun 15, 2050 1.34%

Tarrant County Cultural Education Facilities Finance Corp., due Nov 15, 2063 1.22%

U.S. Treasury Notes, due Apr 30, 2031 1.19%

Miami-Dade County Housing Finance Authority, due Feb 1, 2044 1.10%

Only in VTES

NYC TRANSITIONAL-G-1, due Nov 1, 2029 0.27%

CALIFORNIA ST-REF, due Aug 1, 2030 0.25%

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 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

SMMU

PIMCO Short Term Municipal Bond Active Exchange-Traded Fund

VTES

Vanguard Short-Term Tax-Exempt Bond ETF

Where it sits Bond ETF Bond ETF

Issuer PIMCO Vanguard

What it is Actively managed Tracks an index

Total return, 1 year +1.1% 0.0%

S&P 500 over the same days +17.3% +17.3%

Gap to the S&P 500 −16.1 pts −17.2 pts

Expense ratio 0.35% 0.05%

Holdings 348 3443

Net assets, SMMU as of Jun 30, 2026 and VTES as of Sep 30, 2026 $1.1bn $3.6bn

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

SMMU in plain words

SMMU is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +1.1% with distributions reinvested. The prospectus expense ratio is 0.35% 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, SMMU or VTES?: In the year to Oct 9, 2026, with distributions reinvested, SMMU returned +1.1% and VTES 0.0%.
Which is cheaper, SMMU or VTES?: VTES is cheaper, by 0.30 percentage points a year. That is about $30 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

SMMU vs TAFI SMMU vs SUB JMST vs SMMU SHM vs SMMU CGSM vs VTES JMST vs VTES TAFI vs VTES MEAR vs VTES

SMMU on its own →VTES on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

SMMU filings on SEC EDGAR ↗SMMU prospectus with the expense ratio (SEC) ↗PIMCO website ↗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, SMMU against VTES, data as of Oct 9, 2026. https://etfiq.com/compare/any/smmu-vs-vtes

Open data

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