IBMM vs. VSDM

Last updated Jun 5, 2026

IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) and VSDM (Vanguard Short Duration Tax-Exempt Bond ETF) are both Municipal Bonds funds. IBMM is passively managed, while VSDM is actively managed. IBMM charges 0.18%/yr vs 0.12%/yr for VSDM.

Performance

IBMM vs. VSDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VSDM

• 1D: 0.07%
• 1M: 0.49%
• YTD: 1.29%
• 6M: 1.67%
• 1Y: 4.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBMM vs. VSDM - Yearly Performance Comparison

	2026 (YTD)
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%
VSDM Vanguard Short Duration Tax-Exempt Bond ETF	0.19%

Return for Risk

IBMM vs. VSDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VSDM

VSDM Risk / Return Rank: 84
VSDM Sharpe Ratio Rank: 94
VSDM Sortino Ratio Rank: 95
VSDM Omega Ratio Rank: 97
VSDM Calmar Ratio Rank: 68
VSDM Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBMM vs. VSDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IBMM	VSDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	2.21	—

Drawdowns

IBMM vs. VSDM - Drawdown Comparison

The maximum IBMM drawdown since its inception was 0.00%, smaller than the maximum VSDM drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for IBMM and VSDM.

Drawdown Indicators

	IBMM	VSDM	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-1.81%	+1.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.46%	—
Current Drawdown Current decline from peak	0.00%	-0.27%	+0.27%
Average Drawdown Average peak-to-trough decline	0.00%	-0.32%	+0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.41%	—

Volatility

Volatility by Period

	IBMM	VSDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	1.36%	-1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	1.95%	-1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	1.95%	-1.95%

IBMM vs. VSDM - Expense Ratio Comparison

IBMM has a 0.18% expense ratio, which is higher than VSDM's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IBMM vs. VSDM - Dividend Comparison

IBMM has not paid dividends to shareholders, while VSDM's dividend yield for the trailing twelve months is around 3.10%.

Position	TTM	2025	2024
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%	0.00%
VSDM Vanguard Short Duration Tax-Exempt Bond ETF	3.10%	3.06%	0.35%

Frequently Asked Questions

Which ETF is better, IBMM or VSDM?

On fees, VSDM is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMM or VSDM?

VSDM is cheaper with a 0.12% expense ratio, compared with 0.18% for IBMM.

Which ETF pays a higher dividend yield, IBMM or VSDM?

VSDM has the higher dividend yield at 3.10%, compared with 0.00% for IBMM.

What is the main difference between IBMM and VSDM?

They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.18% for IBMM and 0.12% for VSDM.