VTES vs ZMUN
Vanguard Short-Term Tax-Exempt Bond ETF Shares compared with F/m Ultrashort Tax Free Municipal ETF on yield, payout growth, payment schedule, cost and risk.
VTES
Vanguard Short-Term Tax-Exempt Bond ETF Shares
TTM yield · Monthly
ZMUN
F/m Ultrashort Tax Free Municipal ETF
TTM yield · Monthly
Quick take
- ZMUN yields more today: 3.55% vs 2.72% (forward).
- Both pay every month.
- VTES is cheaper to own: 0.05% vs 0.30% expense ratio.
- VTES has the steadier distribution: consistency 97/100 vs 82/100.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | VTES | ZMUN |
|---|---|---|
| Share price | $100.35 | $49.94 |
| TTM yield | 2.72% | 3.25% |
| Forward yield | 2.72% | 3.55% |
| Annual payout per share | $2.732 | $1.7727 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Oct 1, 2026 (est.) | Sep 26, 2026 (est.) |
| Expense ratio | 0.05% | 0.30% |
| 1-year payout growth | — | — |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | — | 0 years |
| Payout consistency (last 12) | 97/100 | 82/100 |
| 1-year total return | +1.4% | — |
| 1-year price return | -1.3% | — |
| Size (market cap / AUM) | 2.4B | 34.5M |
| Years paying | 3.4 | 0.9 |
| Sector / category | Muni National Short | Muni National Short |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| VTES | ZMUN | |
|---|---|---|
| Shares | 99.7 | 200.3 |
| Income per year | $272 | $355 |
| Income per month (avg) | $23 | $30 |
At forward yields, before taxes. Model VTES · Model ZMUN
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| VTES Oct 1, 2026 | Oct 15, 2026 | $0.2277 | Est. |
| VTES Oct 31, 2026 | Nov 14, 2026 | $0.2277 | Est. |
| VTES Nov 30, 2026 | Dec 14, 2026 | $0.2277 | Est. |
| ZMUN Sep 26, 2026 | Sep 27, 2026 | $0.1477 | Est. |
| ZMUN Oct 26, 2026 | Oct 27, 2026 | $0.1477 | Est. |
| ZMUN Nov 25, 2026 | Nov 26, 2026 | $0.1477 | Est. |
Annual payouts per share
VTESZMUN
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, VTES or ZMUN?
ZMUN currently has the higher trailing yield: VTES yields 2.72% and ZMUN yields 3.25%. Yield changes daily with price, so check the live figures above.
How often do VTES and ZMUN pay?
VTES pays every month and ZMUN pays every month. VTES's next ex-date is Oct 1, 2026 and ZMUN's is Sep 26, 2026.
Is VTES or ZMUN better for income?
It depends on what you are optimising for. VTES and ZMUN differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.