Key stats
About Vanguard Tax-Managed Funds Vanguard Short Duration Tax-Exempt Bond ETF
Expense ratio
0.12%
Home page
Inception date
Nov 5, 2024
VSDM is an actively managed ETF that seeks tax-exempt income with limited price volatility. It primarily invests in US dollar-denominated municipal bonds issued by US states or local agencies. Interest is exempt from federal income taxes and alternative minimum tax (AMT). The fund does not have maturity limitations on individual securities, but it typically maintains a dollar-weighted average maturity of 2 to 7 years and an average portfolio duration of 1.5 to 5 years. The majority of assets are invested in investment-grade bonds, rated A3 or better by Moody's or equivalent. Investments in junk bonds are limited to 20% of assets. The fund follows a portfolio manager-driven process, incorporating top-down and bottom-up insights. As a fundamental policy, at least 80% of assets are invested in tax-exempt securities under normal market conditions.
Classification
What's in the fund
Exposure type
Municipal
Bonds, Cash & Other100.00%
Municipal99.93%
Mutual fund0.73%
Cash−0.65%
Displays a symbol's price movements over previous years to identify recurring trends.