VictoryShares Short-Duration Municipal ETFVMSD

$25.39−0.1%

−$0.02 · Nov 9 close

AUM: $24M
Fee: 0.62%
Yield: 0.3%

Risk: 2/5
Volume: 1K
NAV: $25.38

LAS VARAS VRN 11/01/44 4.6%CASH AND CASH EQUIVALENTS 4.5%CHICAGO-C 5.% 01/01/34 4.5%NEW YORK 5% 07/01/31 4.4%

52-week rangeAt the 52-week high

$24.89$25.48

Returns	Today	1W	1M	3M	YTD	1Y	3Y	5Y	Max
Total return	−0.1%	+0.3%	+1.6%	—	—	—	—	—	+1.8%
Peer average	+0.1%	+0.9%	+3.9%	−0.1%	+1.2%	+1.5%	+14.6%	+3.2%	—
S&P 500 · VOO	+2.3%	+0.1%	−3.3%	−2.1%	+11.3%	+13.6%	+81.6%	+75.4%	—

VMSD in One Breath

VMSD Among Municipal ETFs

YTD

#1MMMANY Life Investments+3.5%$60.0M

#2TAXTFlexShares+2.8%$198M

#3MYMGSPDR+2.6%$8.6M

#4SMMUPIMCO+2.5%$1.3B

#5OVMOverlay Shares+2.4%$45.7M

#6INMUiShares+2.4%$814M

#7SHYMiShares+2.4%$931M

#8TMNLT. Rowe Price+2.3%$24.7M

#9PMIOPGIM+2.2%$65.4M

End-of-day Nov 9, 2026 · 141 Municipal ETFs by YTD

$10,000 in VMSD

$10,000 in VMSD became

$10,185

In the S&P 500 (VOO)

$9,803

Total return, dividends in · Sep 23, 2026 – Nov 9, 2026 · S&P 500 uses VOO

VMSD’s Top Holdings

Today

LAS VARAS VRN Las Varas Vrn 11/01/444.6%CASH AND CAS4.5%CHICAGO-C 5.4.5%NEW YORK 5% 4.4%CHICAGO-C 5.4.4%SAN FRANC 5.4.4%NC HSG 4.554.4%ILLINOIS 5.%4.3%MN MUNI G 5.4.3%CA CMNTY VR4.3%MO ST HLT 5.4.2%OK HSG FI VR4.2%ENERGY 5% 04.2%POUGHKEEP 5.4.2%MANATEE C VR4.2%FRANKLIN VRN4.2%PORT PORT VR4.2%CO HLTH F VR4.2%APPLING C VR4.2%BLACK BEL VR4.1%MEMPHIS H VR3.2%WEST VI 5.5%2.1%6 more

LAS VARAS VR4.6%CASH AND CAS4.5%CHICAGO-C 5.4.5%NEW YORK 5% 4.4%CHICAGO-C 5.4.4%SAN FRANC 5.4.4%NC HSG 4.554.4%ILLINOIS 5.%4.3%MN MUNI G 5.4.3%CA CMNTY VR4.3%MO ST HLT 5.4.2%OK HSG FI VR4.2%16 more

VictoryShares VMSD · 28 holdings · tile size = share of the fund · as of Nov 9, 2026

What VMSD Holds

Today

All holdings100.0%

LAS VARAS 4.6 · CASH AND C 4.5 · CHICAGO-C 4.5 · NEW YORK 5 4.4 · CHICAGO-C 4.4 · SAN FRANC 4.4 · NC HSG 4. 4.4

VictoryShares VMSD · share of the fund · as of Nov 9, 2026

Las’ Share of VMSD

Today

4.6%

$46 of every $1,000 in VMSD is Las

Las held by VMSD

$1.1M

VictoryShares VMSD · each square = $10 of $1,000 · as of Nov 9, 2026

VMSD’s Share of Municipal ETFs

Today

0.0%

of the $247B in 166 Municipal ETFs

VMSD$24.1M0.0%

MUB$55.0B22.3%

VTEB$49.6B20.1%

163 others$142B57.6%

Municipal ETF AUM · Nov 9, 2026

VMSD Fee per $100 vs Peers

Today

$0.62a year
per $100

$62 a year on $10,000

VTEB$0.03

MUB$0.05

SUB$0.07

JMUB$0.18

CGMU$0.27

VMSD$0.62

Expense ratio · Municipal peers · Nov 9, 2026

Inside VMSD

28 holdings · as of Nov 9, 2026

VMSD

VictoryShares Short-Duration Municipal ETF

Today

All holdings100.0%LAS Varas 4.6%Cash AND C4.5%Chicago-c 4.5%NEW York 54.4%Chicago-c 4.4%SAN Franc 4.4%NC HSG 4.54.4%Illinois 54.3%MN Muni G 4.3%CA Cmnty V4.3%MO ST HLT 4.2%OK HSG FI 4.2%Energy 5% 4.2%Poughkeep 4.2%14 more holdings39.1% of the fund

All holdings100.0%LAS Varas 4.6%Cash AND C4.5%Chicago-c 4.5%NEW York 54.4%Chicago-c 4.4%22 more holdings73.2% of the fund

#	Ticker	Company	Weight ▼
1	—	LAS Varas VRN 11/01/44	4.60%
2	—	Cash AND Cash Equivalents	4.50%
3	—	Chicago-c 5.% 01/01/34	4.48%
4	—	NEW York 5% 07/01/31	4.43%
5	—	Chicago-c 5.% 01/01/33	4.42%
6	—	SAN Franc 5.% 05/01/30	4.40%
7	—	NC HSG 4.55% 01/01/33	4.37%
8	—	Illinois 5.% 10/01/28	4.31%
9	—	MN Muni G 5.% 09/01/35	4.28%
10	—	CA Cmnty VRN 12/01/55	4.27%

See all 28 holdings ↓

VictoryShares VMSD · current holdings by weight · as of Nov 9, 2026 · each tile is one holding · top 20 = 85.9%

All VMSD Holdings

28 holdings · as of Nov 9, 2026

VMSD

VMSD’s Holdings

Today

#
1	—LAS Varas VRN 11/01/44	4.60%	$460.32	1.1M	$1.1M
2	—Cash AND Cash Equivalents	4.50%	$450.17	1.1M	$1.1M
3	—Chicago-c 5.% 01/01/34	4.48%	$447.97	1.0M	$1.1M
4	—NEW York 5% 07/01/31	4.43%	$442.80	1.0M	$1.1M
5	—Chicago-c 5.% 01/01/33	4.42%	$442.02	1.0M	$1.1M
6	—SAN Franc 5.% 05/01/30	4.40%	$440.14	1.0M	$1.1M
7	—NC HSG 4.55% 01/01/33	4.37%	$436.98	1.0M	$1.0M
8	—Illinois 5.% 10/01/28	4.31%	$431.29	1.0M	$1.0M
9	—MN Muni G 5.% 09/01/35	4.28%	$428.38	1.0M	$1.0M
10	—CA Cmnty VRN 12/01/55	4.27%	$427.45	1.0M	$1.0M
11	—MO ST HLT 5.% 02/15/28	4.25%	$424.87	1.0M	$1.0M
12	—OK HSG FI VRN 11/01/44	4.23%	$422.80	1.0M	$1.0M
13	—Energy 5% 09/01/33	4.20%	$420.16	1.0M	$1.0M
14	—Poughkeep 5.% 04/23/27	4.19%	$418.73	1.0M	$1.0M
15	—Manatee C VRN 05/01/29	4.18%	$417.84	1.0M	$1.0M

VictoryShares VMSD · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 9, 2026

How It Compares

VMSD

VictoryShares Short-Duration Municipal ETF’s Peers

Today

		Trend
MUB	iSharesRead Desk		0.05%	+0.1%	+1.1%	$55.0B
VTEB	VanguardRead Desk		0.03%	+0.1%	+1.2%	$49.6B
SUB	iSharesRead Desk		0.07%	0.0%	+2.4%	$13.4B
JMUB	J.P. MorganRead Desk		0.18%	+0.2%	+1.4%	$9.2B
CGMU	Capital GroupRead Desk		0.27%	+0.1%	+2.0%	$7.7B
VMSD	VictorySharesThis fundRead Desk	New fund	0.62%	−0.1%	new	$24M

Municipal peers · Today’s and past-year returns · as of Nov 10, 2026 · sorted by AUM

Head to Head

Put VMSD head to head with MUB →

MUB vs VMSD

YTD

MUBiShares · MunicipalVMSDVictoryShares · Municipal

Year to date

+0.7%

[…]

Level

Past year

+1.1%

[…]

Level

Fee

0.05%

0.62%

MUB winslower fee

Yield

3.3%

0.3%

MUB wins+2.9 pts

AUM

$55.0B

$24.1M

MUB2282.7× more

2–0MUB wins

iShares MUB and VictoryShares VMSD · year-to-date · as of Nov 10, 2026 · AUM not scored

VMSD vs Its Peer Average

YTD

VMSDAvsBPeer average

1D−0.1%+0.1%

1M+1.6%+3.9%

3M[…]−0.1%

YTD[…]+1.2%

1Y[…]+1.5%

3Y[…]+14.6%

5Y[…]+3.2%

0–2Peer average wins

165 Municipal peers · each row scaled to its leader

How Bumpy Is VMSD?

VMSD

How Bumpy

Not enough history yet: VMSD needs a year of prices.

VictoryShares VMSD · daily prices vs the S&P 500

The Details

VMSD

Fund Facts

Today

2026launched Sep 22

Tracks[…]

Exchange · CUSIPNASDAQ · 92647N360

StructureETF

Leverage1x

Cost on $10,000$62 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

VictoryShares VMSD · fund facts · as of Nov 10, 2026

VMSD

Payouts by Year

$0.0846per share, Nov 2026

Distribution yield0.3%

Paid[…]

Latest ex-date · paidNov 6 · Nov 9, 2026

1 payouts added up$0.0846 a share

VictoryShares VMSD · distributions by ex-date · 2026–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

summary prospectus · SEC 497K ↗summary prospectus · SEC 497K ↗

Trading & Liquidity

Net asset value$25.38

Premium / discount[…]

Median spread · 30D[…]

Volume today1K

Average volume · 30D2K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.62%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$62.00

Our risk indicator2/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Nov 6, 2026	Nov 9, 2026	$0.0846

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