Eaton Vance Short Duration Municipal Income ETF
EVSM
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- Two International Place Boston MA United States of America 2110
- IPO Date
- Mar 26, 2024
- Website
- morganstanley.com
- Similar Companies
- Business
- Eaton Vance Short Duration Municipal Income ETF (EVSM) is an actively managed exchange-traded fund that seeks current income exempt from regular federal income tax by investing primarily in a diversified portfolio of USD-denominated, investment-grade, tax-exempt municipal bonds with an effective duration of less than three years; the fund targets municipal sectors including hospitals, general obligations, transportation, industrial development revenue, education, housing, special tax revenue, electric utilities, water and sewer, and other revenue sources across various states, credit tiers, and maturities predominantly under five years. EVSM holds approximately 268 municipal bonds, supplemented by minimal allocations to cash and U.S. corporate bonds, with top holdings such as Metropolitan Transn Auth N Y 5% due 11/30, Denver Colo City 5% due 12/31, and New Hampshire 5% due 06/32; it features an expense ratio of 0.19%, monthly distributions, and is benchmarked against the ICE BofA 1-3 Year US Municipal Securities Index. The ETF operates within the national short-term municipal bond segment, serving tax-sensitive investors seeking low-duration, tax-advantaged income with reduced interest rate sensitivity. Launched on December 19, 2018, as a predecessor mutual fund and converted to ETF structure with NYSE Arca listing on March 25, 2024 under Morgan Stanley Investment Management Inc. as adviser and Foreside Fund Services, LLC as distributor, EVSM is headquartered in the United States with total net assets of approximately $481 million as of September 30, 2025. Managed by an experienced team including Julie Callahan (29 years industry experience), Paul Metheny (10 years), Carl Thompson (14 years), and Brandon Matsui (23 years), the fund maintains credit quality primarily in AAA (16%), AA (54%), and A (24%) ratings. Portfolio managers emphasize disciplined active management leveraging decades of municipal bond expertise for competitive tax-exempt yields, with a recent SEC 30-day yield of 2.76% and effective duration of 2.15 years. Recent developments include its integration into Morgan Stanley Investment Management's expanding ETF platform, which grew to over $9 billion in assets by October 31, 2025 through multiple conversions and launches such as the Eaton Vance Mortgage Opportunities ETF in August 2025 and Eaton Vance Income Opportunities ETF in November 2025; these expansions enhanced MSIM's active fixed income offerings, now comprising 18 ETFs including nine Eaton Vance-branded products like EVSM alongside EVIM, EVYM, and EVTR, reflecting strategic shifts toward ETF vehicles for institutional and retail demand in tax-efficient fixed income.