VictoryShares Short-Duration Municipal ETF (VMSD)

VictoryShares Short-Duration Municipal ETF (VMSD) is an exchange-traded fund that invests in short-duration municipal bonds issued by U.S. states, cities and other public entities. Interest on these bonds is generally exempt from federal income tax.

By focusing on bonds with shorter maturities, the fund aims to provide tax-advantaged income with less sensitivity to changes in interest rates than longer-term municipal funds. It is designed for investors seeking a conservative municipal holding for short-term reserves. Holdings are diversified across issuers, sectors and states, and the fund generally emphasizes investment-grade credit. Because short-term bonds mature and are reinvested frequently, its income adjusts relatively quickly to changes in prevailing municipal yields.

The fund is sponsored by Victory Capital Management under its VictoryShares ETF brand.