VSDM's largest holdings are Vanguard Cmt Funds-Vanguard Municipal Cash Management Fund, Texas Municipal Gas Acquisition & Supply Corp IV, California Community Choice Financing Authority, CALIFORNIA CMNTY CHOICE FING A, California Community Choice Financing Authority. The full top list is on this page.

How concentrated is VSDM?

The top 10 holdings are 4.6% of the fund, across 2,462 positions.

The total expense ratio on record is 0.12%. That is cheaper than 78% of the 864 US-listed bond funds we track.

US-listed

VSDM

seeks to provide current income that is exempt from federal personal income taxes, with limited price volatility

Vanguard Short Duration Tax-Exempt Bond ETF

Vanguard

2,462 holdings as of 2026-04-30 · top 10 = 4.6% · TER 0.12%

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Concentration

Well diversifiedtop 10 = 4.6%

diversifiedconcentrated

GROWTH · PRICE DEVELOPMENTrebased to 0%

Holdings

2,462

as of 2026-04-30

Top 10

4.6%

TER

0.12%

cheaper than 78% of peers

Net assets

US$603M

Largest

1.1%

P / E

–

Sections

Holdings as of 2026-04-30.

01Overview

the fund's regulatory facts

Fund currency

USD

First listed

2024-11-19

Volatility 1Y

1.7%

Tracked index

S&P Broad AMT-Free Municipal Bond 0-7 Year Index

How it tracks

Actively managed

02Performance

market price return · as of 2026-09-02

-0.1%

-0.8%

-1.5%

YTD

-0.8%

-0.4%

03Holdings

50 largest · as of 2026-04-30

#	Company	Identifier	Weight
1	Vanguard Cmt Funds-Vanguard Municipal Cash Management Fund US	–	1.1
2	Texas Municipal Gas Acquisition & Supply Corp IV US	TMGUTL	0.5
3	California Community Choice Financing Authority US	US13013JCS33	0.5
4	CALIFORNIA CMNTY CHOICE FING A US	US13013JAP12	0.4
5	California Community Choice Financing Authority US	US13013JEA07	0.4
6	City of Minneapolis MN US	US60374VEX73	0.3
7	Energy Southeast A Cooperative District US	ESDPWR	0.3
8	MAIN STREET NATURAL GAS INC GA US	MAIUTL	0.3
9	KENTUCKY ST PUBLIC ENERGY AUTH US	KYSPWR	0.3
10	CALIFORNIA CMNTY CHOICE FING A US	US13013JFR23	0.3
11	MAIN STR NAT GAS INC GA US	MAIUTL	0.3
12	CALIFORNIA CMNTY CHOICE FING A US	US13013JAX46	0.3
13	NEW YORK CITY NY HSG DEV CORP US	US64972E4L07	0.3
14	TENNERGY CORP TN GAS REVENUE US	TGYPWR	0.3
15	New Mexico Municipal Energy Acquisition Authority US	US647207BL29	0.3
16	BLACK BELT ENERGY GAS DIST AL US	US09182TAW71	0.3
17	BLACK BELT ENERGY GAS DIST AL US	US09182NBR08	0.3
18	University of Wisconsin Hospitals & Clinics US	US915260FU29	0.3
19	LOWER COLORADO RIVER TX AUTH R US	LWCGEN	0.3
20	ILLINOIS ST US	US452153EZ86	0.3
21	Souderton Area School District US	US836030SX51	0.3
22	Kentucky Public Energy Authority US	US74440DCM48	0.3
23	TENNERGY CORP TENN US	US880397CF98	0.3
24	BLACK BELT ENERGY GAS DIST AL US	US09182TAN72	0.2
25	CALIFORNIA CMNTY CHOICE FING A US	CCEDEV	0.2
26	Central Plains Energy Project US	CENPWR	0.2
27	City of Fort Smith AR Water & Sewer Revenue US	US348815PH85	0.2
28	Northside Independent School District US	US66702RK922	0.2
29	Metropolitan Transportation Authority US	US59261AG682	0.2
30	TEXAS ST TRANSPRTN COMMISSION US	TXSTRN	0.2
31	Hidalgo County Drain District No 1 US	US429335HL96	0.2
32	KENTUCKY ST PUBLIC ENERGY AUTH US	US74440DDS09	0.2
33	New York City Housing Development Corp US	US64972KNM35	0.2
34	PATRIOTS ENERGY GROUP FING AGY S C US	PEGUTL	0.2
35	STHRN CA PUBLIC PWR AUTH REVEN US	US84247PND95	0.2
36	Main Street Natural Gas Inc US	MAIUTL	0.2
37	Black Belt Energy Gas District US	US09182THS96	0.2
38	MINNEAPOLIS MINN HEALTH CARE S US	US60374VEW90	0.2
39	CALIFORNIA CMNTY CHOICE FING A US	US13013JCB08	0.2
40	SOUTHEAST ENERGY AUTHORITY A C US	US84136HCF82	0.2
41	BUCKEYE OH TOBACCO SETTLEMENT US	US118217CQ98	0.2
42	Black Belt Energy Gas District US	BLACKB	0.2
43	Southeast Energy Authority A Cooperative District US	US84136FAH01	0.2
44	BLACK BELT ENERGY GAS DIST ALAGAS PROJ REV US	BBEUTL	0.2
45	South Carolina State Housing Finance & Development Authority US	US83712GCG29	0.2
46	TARRANT CNTY TX CULTURAL EDU F US	US87638QSG54	0.2
47	MAIN STREET NATURAL GAS INC GA US	MAIUTL	0.2
48	Tarrant County Cultural Education Facilities Finance Corp US	US87638TJW45	0.2
49	IDAHO HEALTH FACS AUTH REV US	US451295H515	0.2
50	Southeast Energy Authority A Cooperative District US	SEEPWR	0.2

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04Exposure

Bonds 98.6%Cash 1.4%

By country

USUnited States100.4%

PRPR0.1%

GUGU0.0%

VIVI0.0%

CurrencyUSD 100.4%

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