AVMUvsVTEBETF Comparison
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Avantis Core Municipal Fixed Income ETF (AVMU) and Vanguard Tax-Exempt Bond Index ETF (VTEB) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. AVMU is more expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.03% for VTEB. AVMU is down -1.21% year-to-date (YTD) with +$25M in YTD flows. VTEB performs better with -0.43% YTD performance, and +$4.61B in YTD flows. Run a side-by-side ETF comparison of AVMU and VTEB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AVMU vs VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AVMU VTEB | -0.98%-0.82% | -2.54%-1.88% | -1.21%-0.43% | +3.88%+3.69% | +8.27%+9.33% | +1.46%+2.25% |
| Flows | AVMU VTEB | +$2M+$789M | +$14M+$2.39B | +$25M+$4.61B | +$23M+$7.53B | +$87M+$18.18B | +$149M+$34.09B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AVMU VTEB | +3.38%+2.64% | +2.87%+2.55% | +4.11%+3.71% | +3.85%+3.67% |
| Max drawdown | AVMU VTEB | -3.11%-2.57% | -3.23%-2.65% | -6.27%-5.41% | -12.02%-12.41% |
| Max drawdown duration | AVMU VTEB | 58d58d | 184d117d | 276d275d | 1168d1001d |
Trading data
AVMU | VTEB | |
Last sale 9/3/2026 at 1:30 PM | $44.38 | $48.86 |
| Previous close 09/02/2026 | $44.46 | $48.95 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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AVMU
is actively managed and doesn’t replicate an indexAVMU | VTEB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
AVMU | VTEB | |
|---|---|---|
| Last price | $44.38 | $48.86 |
| 1D performance | -0.17% | -0.18% |
| AuM | $169.92 M | $45.92 B |
| E/R | 0.15% | 0.03% |
Characteristics
AVMU | VTEB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | American Century Investments | Vanguard |
| Benchmark | - | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | 314 | 5288 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 12, 2020 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
AVMU
USA
55.91%
Other
44.09%
VTEB
USA
57.45%
Other
42.55%
Sectors
AVMU
Municipal
55.91%
Other
44.09%
VTEB
Municipal
57.45%
Other
42.55%
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Diversification
AVMU
Total weight of top 15 holdings out of 15
15.84%
VTEB
Total weight of top 15 holdings out of 15
1.34%
Top 15 holdings
Data as of July 31, 2026
AVMU
San Antonio, 4% 15sep2042, USD
2.16%
US47770VCC28
1.68%
US798025ML35
1.63%
Miami Beach, 5% 1sep2040, USD (2015)
1.50%
City of New York, 5% 1aug2032, USD (2025)
1.06%
Grand Parkway Transportation Corp., 4% 1oct2045, USD (2020C)
0.94%
Colorado, 4% 15dec2040, USD (2021A)
0.87%
State of Washington, 5% 1feb2045, USD (2026C)
0.82%
US64985TCL35
0.81%
District of Columbia, 4% 1mar2040, USD (2019A)
0.76%
New York Dormitory Authority, 5% 1jul2041, USD (2016A)
0.76%
US544532GP33
0.73%
University of Michigan, 4% 15feb2044, USD (2019C)
0.72%
Mississippi, 5% 1oct2029, USD (2017A)
0.72%
Delaware Valley Regional Finance Authority, 5.75% 1jul2032, USD
0.69%
VTEB
City of New York, 5% 1aug2034, USD (2026)
0.12%
University of California, 5% 15may2036, USD (2025)
0.11%
Idaho, 4% 30jun2027, USD (2026)
0.10%
California, 5.25% 1aug2032, USD
0.10%
US574193YA01
0.09%
US650028F737
0.09%
Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2026A)
0.09%
US650028F653
0.08%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.08%
US67766WV741
0.08%
Energy Northwest, 5% 1jul2034, USD (2026-A)
0.08%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.08%
US646140KX00
0.08%
New Jersey Turnpike Authority, 5% 1jan2032, USD (2025)
0.08%
Illinois, 5% 1nov2027, USD (2017D)
0.08%
Frequently asked questions about AVMU and VTEB
How have the AVMU and VTEB ETFs performed in 2026?
As of September 1, 2026, AVMU is down -1.21% year-to-date (YTD), while VTEB has lost -0.43%. That puts VTEB better performer ahead so far this year.
Which ETF is attracting more investor money: AVMU or VTEB?
Year-to-date, the AVMU ETF saw +$25M in flows, compared to +$4.61B for VTEB.
Which ETF is more volatile: AVMU or VTEB?
Over the past year, AVMU had a volatility of 2.87%, while VTEB experienced 2.55%.
Which ETF is bigger: AVMU or VTEB?
As of September 1, 2026, AVMU holds $169.92 M in assets under management (AUM), while VTEB manages $45.92 B.
What sectors do the AVMU and VTEB ETFs invest in?
AVMU leans toward sectors like Municipal. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the AVMU ETF and VTEB ETF?
AVMU top holdings include San Antonio, 4% 15sep2042, USD, US47770VCC28 and US798025ML35. VTEB holds in its top three: City of New York, 5% 1aug2034, USD (2026), University of California, 5% 15may2036, USD (2025) and Idaho, 4% 30jun2027, USD (2026).
Which ETF is more diversified: AVMU or VTEB?
AVMU holds 540 securities with 15.84% of its assets in the top 15. VTEB has 10658 securities and a top 15 weight of 1.34%.
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Latest news about AVMU & VTEB
A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF
April 21, 2023
VTEB
Vanguard plans to launch a new short-term municipal bond ETF in 2023
December 23, 2022
VTEB
Investing in Municipal Bond ETFs
October 24, 2022
VTEB
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