Market price change
Fixed Income
Quality
AgcyInv Grd
CorpBelow
Inv
Grade
Duration
Short
Medium
Long
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Asset class
Category
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NAV price
as of 06/13/2025
VSDM.IV | |
CUSIP | 922907696 |
Management style | Active |
Asset class | Short-Term Bond |
Category | Muni National Short |
Inception date | 11/19/2024 |
Fund Number | V039 |
Minimum Investment
as of 06/13/2025
Market price change
as of 06/13/2025
NAV Price
as of 06/13/2025
NAV Change
as of 06/13/2025
YTD returns (MP)
as of 06/13/2025
YTD returns (NAV)
as of 06/13/2025
The fund's investment objective seeks to provide current income that is exempt from federal personal income taxes, with limited price volatility. Under normal circumstances, the fund will invest at least 80% of its assets (plus any borrowings for investment purposes) in municipal bonds denominated in U.S. dollars from a variety of issuers that are primarily U.S. states or local governments or agencies whose interest is exempt from federal income taxes and the federal alternative minimum tax. The fund is expected to maintain, under normal market conditions, a dollar-weighted average maturity between 2 and 7 years. The majority of the fund’s exposure to fixed income securities is expected to have credit quality that is investment-grade. The fund is subject to certain risks including interest rate risk, which is the chance that the price of the bonds in the portfolio will decline because of rising interest rates. Investors who are looking for a fund that may provide federal tax-exempt income and can tolerate moderate price and income fluctuations may wish to consider this fund.
Vanguard Fixed Income Group
as of 05/31/2025
Recent returns
Average annual
Month-end | 3-Month total | YTD | 1-yr | 3-yr | 5-yr | 10-yr | Since inception 11/19/2024 | |
---|---|---|---|---|---|---|---|---|
VSDM (Market price) | 0.67% | 0.15% | 1.62% | — | — | — | — | 1.72% |
VSDM (NAV) | 0.65% | 0.27% | 1.60% | — | — | — | — | 1.66% |
0.60% | 0.13% | 1.22% | 4.02% | 2.39% | 1.14% | 1.60% | — |
as of 03/31/2025
Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Year-end | |
---|---|---|---|---|---|---|
2025 | 1.24% | — | — | — | — | — |
2024 | — | — | — | — | 0.10% | 2.09% |
as of 12/31/2024
Year | Capital return by NAV | Income return by NAV | Total return by NAV | Total return by Market Price | |
---|---|---|---|---|---|
2024 | -0.29% | 0.35% | 0.06% | — | — |
as of 05/31/2025
1-yr | 3-yr | 5-yr | 10-yr | Since inception 11/19/2024 | |
---|---|---|---|---|---|
VSDM (Market price) | — | — | — | — | 1.72% |
VSDM (NAV) | — | — | — | — | 1.66% |
4.02% | 7.34% | 5.83% | 17.24% | — |
VSDM
0.12%
Average expense ratio of similar funds3
0.56%
This fund does not have long enough history to provide historical volatility measures data.
The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate so that investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index.
Current price as of Sat Jun 14 00:00:06GMT+0 2025
Market price change
Open
High
Low
Bid/Ask spread
Volume
Size
Tick
Quotes delayed at least 15 minutes. Source: FactSet.
Closing price as of 06/13/2025
Market price change
NAV
NAV change
30-day Median Bid/Ask spread
52-week High
as of 02/28/2025
52-week Low
as of 04/09/2025
52-week Difference
Premium/Discount
25-day Avg Volume
50-day Avg Volume
Name | Date | NAV |
---|---|---|
VSDM | 06/13/2025 | $75.31 |
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as of 05/31/2025
Fundamental | VSDM | |
---|---|---|
Number of bonds | 835 | 22246 |
Yield to maturity | 3.9% | 3.1% |
Average coupon | 4.3% | 4.7% |
Average stated maturity | 4.3 years | 3.3 years |
Average duration | 2.7 years | — |
Alternative minimum tax (AMT) | — | — |
Short-term reserves | 0.9% | — |
Fund total net assets as of 05/31/2025 | $112.8 M | — |
Fixed Income
Quality
Duration
Short
Medium
Long
as of 05/31/2025
Weighted equity exposures exclude any temporary cash investments and equity index futures. Some short-term fixed income securities are classified as cash and are excluded from the weighted bond exposures.
as of 06/13/2025
Ticker | Holdings | CUSIP | SEDOL | Coupon Rate | Maturity Date | Effective Date | Face Amount | % of fund* | Market value* |
---|---|---|---|---|---|---|---|---|---|
BAYTRN | BAY AREA TOLL-VAR A | 072024ST0 | — | 2.930 % | 04/01/2036 | 05/24/2001 | $800,000 | 0.65 % | $794,080 |
TGYPWR | TENNERGY CORP -A | 880397CJ1 | — | 5.000 % | 10/01/2054 | 07/03/2024 | $655,000 | 0.56 % | $684,987 |
NWCSCD | NEW CANEY ISD-REMK | 643154LB1 | — | 4.000 % | 02/15/2050 | 07/01/2018 | $650,000 | 0.54 % | $661,561 |
CENPWR | CENTRL PLAINS-A | 154871CW5 | — | 5.000 % | 05/01/2054 | 09/29/2023 | $635,000 | 0.54 % | $659,858 |
DISMFH | DC HSG FIN AGY -REV | 25477PPY5 | — | 5.000 % | 06/01/2027 | 11/30/2023 | $585,000 | 0.48 % | $588,212 |
KYSPWR | KY PUB ENERGY AUTH-A | 74440DCZ5 | — | 4.000 % | 12/01/2050 | 03/04/2020 | $580,000 | 0.47 % | $581,436 |
SEEPWR | S E ENERGY AUTH-A-1 | 84136FBL0 | — | 5.500 % | 01/01/2053 | 11/01/2022 | $520,000 | 0.45 % | $552,467 |
SANUTL | SAN ANTONIO -REV | 79625GHJ5 | — | 3.650 % | 02/01/2053 | 06/01/2023 | $535,000 | 0.43 % | $533,514 |
ORSFAC | OR FACS AUTH-A-REF | 68608JVE8 | — | 5.000 % | 06/01/2028 | 11/10/2016 | $525,000 | 0.43 % | $533,123 |
CCEDEV | CA CMNTY CHOICE-D | 13013JCS3 | — | 5.500 % | 05/01/2054 | 06/15/2023 | $500,000 | 0.43 % | $525,467 |
Ticker | Holdings | CUSIP | SEDOL | Coupon Rate | Maturity Date | Effective Date | Face Amount | % of fund* | Market value* |
---|---|---|---|---|---|---|---|---|---|
BAYTRN | BAY AREA TOLL-VAR A | 072024ST0 | — | 2.930 % | 04/01/2036 | 05/24/2001 | $800,000 | 0.65 % | $794,080 |
TGYPWR | TENNERGY CORP -A | 880397CJ1 | — | 5.000 % | 10/01/2054 | 07/03/2024 | $655,000 | 0.56 % | $684,987 |
NWCSCD | NEW CANEY ISD-REMK | 643154LB1 | — | 4.000 % | 02/15/2050 | 07/01/2018 | $650,000 | 0.54 % | $661,561 |
CENPWR | CENTRL PLAINS-A | 154871CW5 | — | 5.000 % | 05/01/2054 | 09/29/2023 | $635,000 | 0.54 % | $659,858 |
DISMFH | DC HSG FIN AGY -REV | 25477PPY5 | — | 5.000 % | 06/01/2027 | 11/30/2023 | $585,000 | 0.48 % | $588,212 |
KYSPWR | KY PUB ENERGY AUTH-A | 74440DCZ5 | — | 4.000 % | 12/01/2050 | 03/04/2020 | $580,000 | 0.47 % | $581,436 |
SEEPWR | S E ENERGY AUTH-A-1 | 84136FBL0 | — | 5.500 % | 01/01/2053 | 11/01/2022 | $520,000 | 0.45 % | $552,467 |
SANUTL | SAN ANTONIO -REV | 79625GHJ5 | — | 3.650 % | 02/01/2053 | 06/01/2023 | $535,000 | 0.43 % | $533,514 |
ORSFAC | OR FACS AUTH-A-REF | 68608JVE8 | — | 5.000 % | 06/01/2028 | 11/10/2016 | $525,000 | 0.43 % | $533,123 |
CCEDEV | CA CMNTY CHOICE-D | 13013JCS3 | — | 5.500 % | 05/01/2054 | 06/15/2023 | $500,000 | 0.43 % | $525,467 |
Ticker | Holdings | CUSIP | SEDOL | Coupon Rate | Maturity Date | Effective Date | Face Amount | % of fund* | Market value* |
---|---|---|---|---|---|---|---|---|---|
BAYTRN | BAY AREA TOLL-VAR A | 072024ST0 | — | 2.930 % | 04/01/2036 | 05/24/2001 | $800,000 | 0.65 % | $794,080 |
TGYPWR | TENNERGY CORP -A | 880397CJ1 | — | 5.000 % | 10/01/2054 | 07/03/2024 | $655,000 | 0.56 % | $684,987 |
NWCSCD | NEW CANEY ISD-REMK | 643154LB1 | — | 4.000 % | 02/15/2050 | 07/01/2018 | $650,000 | 0.54 % | $661,561 |
CENPWR | CENTRL PLAINS-A | 154871CW5 | — | 5.000 % | 05/01/2054 | 09/29/2023 | $635,000 | 0.54 % | $659,858 |
DISMFH | DC HSG FIN AGY -REV | 25477PPY5 | — | 5.000 % | 06/01/2027 | 11/30/2023 | $585,000 | 0.48 % | $588,212 |
KYSPWR | KY PUB ENERGY AUTH-A | 74440DCZ5 | — | 4.000 % | 12/01/2050 | 03/04/2020 | $580,000 | 0.47 % | $581,436 |
SEEPWR | S E ENERGY AUTH-A-1 | 84136FBL0 | — | 5.500 % | 01/01/2053 | 11/01/2022 | $520,000 | 0.45 % | $552,467 |
SANUTL | SAN ANTONIO -REV | 79625GHJ5 | — | 3.650 % | 02/01/2053 | 06/01/2023 | $535,000 | 0.43 % | $533,514 |
ORSFAC | OR FACS AUTH-A-REF | 68608JVE8 | — | 5.000 % | 06/01/2028 | 11/10/2016 | $525,000 | 0.43 % | $533,123 |
CCEDEV | CA CMNTY CHOICE-D | 13013JCS3 | — | 5.500 % | 05/01/2054 | 06/15/2023 | $500,000 | 0.43 % | $525,467 |
Ticker | Holdings | CUSIP | SEDOL | Coupon Rate | Maturity Date | Effective Date | Face Amount | % of fund* | Market value* |
---|---|---|---|---|---|---|---|---|---|
BAYTRN | BAY AREA TOLL-VAR A | 072024ST0 | — | 2.930 % | 04/01/2036 | 05/24/2001 | $800,000 | 0.65 % | $794,080 |
TGYPWR | TENNERGY CORP -A | 880397CJ1 | — | 5.000 % | 10/01/2054 | 07/03/2024 | $655,000 | 0.56 % | $684,987 |
NWCSCD | NEW CANEY ISD-REMK | 643154LB1 | — | 4.000 % | 02/15/2050 | 07/01/2018 | $650,000 | 0.54 % | $661,561 |
CENPWR | CENTRL PLAINS-A | 154871CW5 | — | 5.000 % | 05/01/2054 | 09/29/2023 | $635,000 | 0.54 % | $659,858 |
DISMFH | DC HSG FIN AGY -REV | 25477PPY5 | — | 5.000 % | 06/01/2027 | 11/30/2023 | $585,000 | 0.48 % | $588,212 |
KYSPWR | KY PUB ENERGY AUTH-A | 74440DCZ5 | — | 4.000 % | 12/01/2050 | 03/04/2020 | $580,000 | 0.47 % | $581,436 |
SEEPWR | S E ENERGY AUTH-A-1 | 84136FBL0 | — | 5.500 % | 01/01/2053 | 11/01/2022 | $520,000 | 0.45 % | $552,467 |
SANUTL | SAN ANTONIO -REV | 79625GHJ5 | — | 3.650 % | 02/01/2053 | 06/01/2023 | $535,000 | 0.43 % | $533,514 |
ORSFAC | OR FACS AUTH-A-REF | 68608JVE8 | — | 5.000 % | 06/01/2028 | 11/10/2016 | $525,000 | 0.43 % | $533,123 |
CCEDEV | CA CMNTY CHOICE-D | 13013JCS3 | — | 5.500 % | 05/01/2054 | 06/15/2023 | $500,000 | 0.43 % | $525,467 |
Ticker | Holdings | CUSIP | SEDOL | Coupon Rate | Maturity Date | Effective Date | Face Amount | % of fund* | Market value* |
---|---|---|---|---|---|---|---|---|---|
BAYTRN | BAY AREA TOLL-VAR A | 072024ST0 | — | 2.930 % | 04/01/2036 | 05/24/2001 | $800,000 | 0.65 % | $794,080 |
TGYPWR | TENNERGY CORP -A | 880397CJ1 | — | 5.000 % | 10/01/2054 | 07/03/2024 | $655,000 | 0.56 % | $684,987 |
NWCSCD | NEW CANEY ISD-REMK | 643154LB1 | — | 4.000 % | 02/15/2050 | 07/01/2018 | $650,000 | 0.54 % | $661,561 |
CENPWR | CENTRL PLAINS-A | 154871CW5 | — | 5.000 % | 05/01/2054 | 09/29/2023 | $635,000 | 0.54 % | $659,858 |
DISMFH | DC HSG FIN AGY -REV | 25477PPY5 | — | 5.000 % | 06/01/2027 | 11/30/2023 | $585,000 | 0.48 % | $588,212 |
KYSPWR | KY PUB ENERGY AUTH-A | 74440DCZ5 | — | 4.000 % | 12/01/2050 | 03/04/2020 | $580,000 | 0.47 % | $581,436 |
SEEPWR | S E ENERGY AUTH-A-1 | 84136FBL0 | — | 5.500 % | 01/01/2053 | 11/01/2022 | $520,000 | 0.45 % | $552,467 |
SANUTL | SAN ANTONIO -REV | 79625GHJ5 | — | 3.650 % | 02/01/2053 | 06/01/2023 | $535,000 | 0.43 % | $533,514 |
ORSFAC | OR FACS AUTH-A-REF | 68608JVE8 | — | 5.000 % | 06/01/2028 | 11/10/2016 | $525,000 | 0.43 % | $533,123 |
CCEDEV | CA CMNTY CHOICE-D | 13013JCS3 | — | 5.500 % | 05/01/2054 | 06/15/2023 | $500,000 | 0.43 % | $525,467 |
*There may be deviations when applying fair value and other considerations.
as of 05/31/2025
Realized gain
% of NAV
Unrealized gains of NAV
% of NAV
Fiscal year end
Distribution schedule
A fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses.
Learn about realized and unrealized gains and lossesA fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses.
Learn about realized and unrealized gains and lossesVanguard Short Duration Tax-Exempt Bond ETF seeks current income exempt from federal tax by investing in municipal bonds with a dollar-weighted average nominal maturity between 2 and 7 years. The fund emphasizes high credit quality, with a majority of the fund’s holdings rated investment-grade. The fund’s advisor, Vanguard Fixed Income Group, seeks to add value by making small adjustments to the fund’s maturity structure, based on factors such as interest-rate outlook and slope of the yield curve. Vanguard’s independent research capabilities assist in identifying specific issues and market sectors that represent good relative value.
Performance & fees
Most recent data available. © 2023 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; (3) does not constitute investment advice offered by Morningstar; and (4) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Portfolio composition
Credit-quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). "NR" is used to classify securities for which a rating is not available. NR securities may include a fund's investment in Vanguard Market Liquidity Fund or Vanguard Municipal Low Duration Fund, each of which invests in high-quality money market instruments and may serve as a cash management vehicle for the Vanguard funds, trusts, and accounts. U.S. Treasury, U.S. Agency, and U.S. Agency mortgage-backed securities appear under "U.S. Government." Credit-quality ratings for each issue are obtained from Moody's and S&P, and the higher rating for each issue is used.
Alternative minimum tax (AMT) percentage represents the fund's income subject to the AMT as of the date indicated.
© 2023 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Vanguard ETFs as a share class: Vanguard ETFs® (exchange-traded funds) are a class of shares listed for trading on an exchange. The shares are available only through a broker, including Vanguard Brokerage Services®.
Vanguard ETF® Shares are not redeemable with the issuing fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.
Total returns: Short-term total return information is provided only as a service. Historical performance—particularly short-term performance—is no guarantee of future returns. Price, yield, and return on an actual investment will fluctuate, and you may have a gain or loss when you sell. Average annual returns include changes in price and reinvestments of dividends and capital gains. Since-inception returns for less than 1 year and year-to-date returns aren't annualized. Index performance is provided as a benchmark but isn't illustrative of any particular investment. You can't invest in an index.
Standardized returns: To see quarterly fee-adjusted returns, refer to the Price & Performance details.
Expense ratios: Expense ratios are displayed on Overview. For investments that are less than 1 fiscal year old, expense ratios are estimated.
Risk: All investing is subject to risk, including the possible loss of the money you invest. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk.
Vanguard average ETF expense ratio: 0.05%. Industry average ETF expense ratio: 0.22%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2023.
The fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it. The fund is subject to the following risks, which could affect the fund's performance, and the level of risk may vary based on market conditions: