SHYM vs. VSDM
SHYM (iShares Short Duration High Yield Muni Active ETF) and VSDM (Vanguard Short Duration Tax-Exempt Bond ETF) are both exchange-traded funds - SHYM is a High Yield Muni fund actively managed by iShares, while VSDM is a Municipal Bonds fund actively managed by Vanguard. Both are actively managed. Over the past year, SHYM returned 4.27% vs 3.09% for VSDM. Their 0.54 correlation means they have sometimes moved together and sometimes differently. SHYM charges 0.35%/yr vs 0.12%/yr for VSDM.
Performance
SHYM vs. VSDM - Performance Comparison
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Returns By Period
In the year-to-date period, SHYM achieves a 1.68% return, which is significantly higher than VSDM's 1.10% return.
SHYM
- 1D
- 0.01%
- 1M
- -1.13%
- 6M
- 0.65%
- YTD
- 1.68%
- 1Y
- 4.27%
- 3Y*
- 5.72%
- 5Y*
- 0.39%
- 10Y*
- —
- ALL TIME*
- 1.75%
VSDM
- 1D
- 0.11%
- 1M
- -0.45%
- 6M
- 0.32%
- YTD
- 1.10%
- 1Y
- 3.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.26M | $4.13M | $7.94M | |
| $9.87M | $9.16M | $8.72M |
SHYM vs. VSDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 1.68% | 2.58% | -0.77% |
VSDM Vanguard Short Duration Tax-Exempt Bond ETF | 1.10% | 5.39% | -0.10% |
Correlation
The correlation between SHYM and VSDM is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024 | 0.54 |
The correlation between SHYM and VSDM has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
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Return for Risk
SHYM vs. VSDM — Risk / Return Rank
SHYM
VSDM
SHYM vs. VSDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration High Yield Muni Active ETF (SHYM) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHYM | VSDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.51 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.12 | -0.20 |
| Martin ratioReturn relative to average drawdown | 7.18 | 7.12 | +0.05 |
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Drawdowns
SHYM vs. VSDM - Drawdown Comparison
The maximum SHYM drawdown since its inception was -22.55%, which is greater than VSDM's maximum drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for SHYM and VSDM.
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Drawdown Indicators
| SHYM | VSDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.55% | -1.81% | -20.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -1.46% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.28% | — | — |
Current DrawdownCurrent decline from peak | -1.22% | -0.49% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -0.31% | -6.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 0.43% | +0.17% |
Volatility
SHYM vs. VSDM - Volatility Comparison
iShares Short Duration High Yield Muni Active ETF (SHYM) has a higher volatility of 0.89% compared to Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) at 0.43%. This indicates that SHYM's price experiences larger fluctuations and is considered to be riskier than VSDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYM | VSDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.43% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 1.11% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.76% | 1.37% | +1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.06% | 1.89% | +5.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.85% | 1.89% | +4.96% |
SHYM vs. VSDM - Expense Ratio Comparison
SHYM has a 0.35% expense ratio, which is higher than VSDM's 0.12% expense ratio.
Dividends
SHYM vs. VSDM - Dividend Comparison
SHYM's dividend yield for the trailing twelve months is around 4.35%, more than VSDM's 3.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 4.35% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% |
VSDM Vanguard Short Duration Tax-Exempt Bond ETF | 3.14% | 3.06% | 0.35% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SHYM and VSDM have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYM has higher volatility (0.89%) compared to VSDM (0.43%). In terms of maximum drawdown, SHYM dropped -22.55% vs VSDM's -1.81%.
On 1-year performance, SHYM leads with 4.27% vs 3.09% for VSDM. On fees, VSDM is cheaper at 0.12% per year. On volatility, VSDM has been the lower-risk option at 0.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SHYM has performed better with a 4.27% return vs 3.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VSDM is cheaper with a 0.12% expense ratio, compared with 0.35% for SHYM.
SHYM has the higher dividend yield at 4.35%, compared with 3.14% for VSDM.
SHYM is categorized as High Yield Muni, while VSDM is Municipal Bonds. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.35% for SHYM and 0.12% for VSDM.
VSDM currently has the higher Sharpe Ratio (2.27 vs 1.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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