VSDM's largest holdings are SOUTHEAST ENERGY AUTHORITY A C, Vanguard Cmt Funds-Vanguard Municipal Cash Management Fund, New Jersey (State of) Transportation Trust Fund Authority, Florida (State of) Municipal Power Agency, CALIFORNIA CMNTY CHOICE FING A. The full top list is on this page.

How concentrated is VSDM?

The top 10 holdings are 3.9% of the fund, across 2,913 positions.

The total expense ratio on record is 0.12%. That is cheaper than 78% of the 865 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

2,913 holdings as of 2026-07-31 · top 10 = 3.9% · TER 0.12%

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Concentration

Well diversifiedtop 10 = 3.9%

diversifiedconcentrated

GROWTH · PRICE DEVELOPMENTrebased to 0%

Holdings

2,913

as of 2026-07-31

Top 10

3.9%

TER

0.12%

cheaper than 78% of peers

Net assets

US$831M

Largest

0.5%

P / E

–

Sections

Holdings as of 2026-07-31.

01Overview

the fund's regulatory facts

Fund currency

USD

First listed

2024-11-19

Volatility 1Y

1.9%

Tracked index

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

How it tracks

Actively managed

02Performance

market price return · as of 2026-10-16

-0.3%

-1.6%

-2.0%

YTD

-1.8%

-2.1%

03Holdings

50 largest · as of 2026-07-31

#	Company	Identifier	Weight
1	SOUTHEAST ENERGY AUTHORITY A C US	US84136HAH66	0.5
2	Vanguard Cmt Funds-Vanguard Municipal Cash Management Fund US	–	0.4
3	New Jersey (State of) Transportation Trust Fund Authority US	US6461364F58	0.4
4	Florida (State of) Municipal Power Agency US	US342816Q405	0.4
5	CALIFORNIA CMNTY CHOICE FING A US	US13013JAP12	0.4
6	California Community Choice Financing Authority US	US13013JCS33	0.4
7	ENERGY SOUTHEAST ALA COOP DIST ENE US	ESDPWR	0.4
8	BLACK BELT ENERGY GAS DIST AL US	US09182TEC71	0.4
9	Texas Municipal Gas Acquisition & Supply Corp IV US	TMGUTL	0.4
10	Southern California Public Power Authority US	US842469DL92	0.3
11	Southern California Public Power Authority US	US84247PPF26	0.3
12	CALIFORNIA COMMUNITY CHOICE FI CCEDEV 02/31 FIXED 5 US	CCEDEV	0.3
13	LOWER COLORADO RIVER TX AUTH R US	LWCGEN	0.3
14	Lower Colorado River Authority US	US54811GM494	0.3
15	CALIFORNIA CMNTY CHOICE FING A US	US13013JBJ43	0.3
16	Kentucky Public Energy Authority US	US74440DGM02	0.3
17	California Community Choice Financing Authority US	US13013JEA07	0.3
18	CALIFORNIA CMNTY CHOICE FING A US	US13013JCB08	0.3
19	Metropolitan Transportation Authority US	US59261AG682	0.3
20	Southeast Energy Authority A Cooperative District US	SEEPWR	0.3
21	MAIN STREET NATURAL GAS INC GA US	MAIUTL	0.3
22	City of Minneapolis MN US	US60374VEX73	0.3
23	BLACK BELT ENERGY GAS DIST AL US	US09182NBR08	0.2
24	STHRN CA PUBLIC PWR AUTH REVEN US	US84247PND95	0.2
25	TARRANT CNTY TX CULTURAL EDU F US	US87638QSG54	0.2
26	Energy Southeast A Cooperative District US	ESDPWR	0.2
27	KENTUCKY ST PUBLIC ENERGY AUTH US	KYSPWR	0.2
28	California Community Choice Financing Authority US	US13013JFS06	0.2
29	California Community Choice Financing Authority US	CCEDEV	0.2
30	Lower Alabama Gas District/The US	US547804AQ73	0.2
31	BLACK BELT ENERGY GAS DIST AL US	US09182TAW71	0.2
32	Tennergy Corp/TN US	US880397BW31	0.2
33	Health & Educational Facilities Authority of the State of Missouri US	US60637AXM97	0.2
34	MAIN STR NAT GAS INC GA US	MAIUTL	0.2
35	CALIFORNIA CMNTY CHOICE FING A US	US13013JAX46	0.2
36	Rutherford County Health & Educational Facilities Board US	US78324PAK57	0.2
37	BLACK BELT ENERGY GAS DIST US	BLACKB	0.2
38	MAIN STREET NATURAL GAS INC GA US	US560354AF99	0.2
39	TENNERGY CORP TN GAS REVENUE US	TGYPWR	0.2
40	California Community Choice Financing Authority US	CCEDEV	0.2
41	NEW YORK CITY NY HSG DEV CORP US	US64972E4L07	0.2
42	Illinois (State of) US	US4521523F67	0.2
43	New Mexico Municipal Energy Acquisition Authority US	US647207BL29	0.2
44	Black Belt Energy Gas District US	US09182THS96	0.2
45	University of Wisconsin Hospitals & Clinics US	US915260FU29	0.2
46	CALIFORNIA CMNTY CHOICE FING A US	US13013JGR14	0.2
47	Texas Municipal Gas Acquisition and Supply Corp. I US	US88256CAT62	0.2
48	Black Belt Energy Gas District US	BLACKB	0.2
49	Kentucky Public Energy Authority US	US74440DCM48	0.2
50	BLACK BELT ENERGY GAS DIST AL US	US09182TDL89	0.2

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04Exposure

Bonds 99.3%Cash 0.7%

By country

USUnited States99.3%

PRPR0.1%

GUGU0.0%

VIVI0.0%

CurrencyUSD 99.3%

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