FMHIvsVTEBETF Comparison
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First Trust Municipal High Income ETF (FMHI) and Vanguard Tax-Exempt Bond Index ETF (VTEB) belong to the same industry segment: Municipal Bonds. In contrast, VTEB's top sector exposures are Municipal. FMHI is more expensive with a Total Expense Ratio (TER) of 0.49%, versus 0.03% for VTEB. FMHI is down -0.77% year-to-date (YTD) with +$196M in YTD flows. VTEB performs worse with -2.08% YTD performance, and +$10.89B in YTD flows. Run a side-by-side ETF comparison of FMHI 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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FMHI vs VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMHI VTEB | -1.13%-0.21% | -4.87%-3.46% | -0.77%-2.08% | -0.23%-1.57% | +11.04%+10.28% | -4.05%+1.27% |
| Flows | FMHI VTEB | +$6M+$5.04B | +$82M+$7.65B | +$196M+$10.89B | +$241M+$12.82B | +$597M+$24.62B | +$798M+$39.99B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMHI VTEB | +6.23%+5.28% | +3.82%+3.33% | +4.52%+3.84% | +4.56%+3.82% |
| Max drawdown | FMHI VTEB | -7.19%-5.92% | -7.47%-6.63% | -7.47%-6.63% | -18.93%-12.41% |
| Max drawdown duration | FMHI VTEB | 88d92d | 105d102d | 105d102d | 1746d1001d |
Trading data
FMHI | VTEB | |
Last sale 10/16/2026 at 1:30 PM | $45.49 | $48.00 |
| Previous close 10/15/2026 | $45.45 | $47.96 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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FMHI
is actively managed and doesn’t replicate an indexFMHI | 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 10/16/2026 at 1:30 PM
Live
Closed
FMHI | VTEB | |
|---|---|---|
| Last price | $45.49 | $48.00 |
| 1D performance | +0.08% | +0.08% |
| AuM | $1.02 B | $51.37 B |
| E/R | 0.49% | 0.03% |
Characteristics
FMHI | VTEB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Trust | Vanguard |
| Benchmark | - | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | - | 5200 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 1, 2017 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
FMHI
Data will be available soon
VTEB
USA
55.18%
Other
44.82%
Sectors
FMHI
Data will be available soon
VTEB
Municipal
55.18%
Other
44.82%
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Diversification
FMHI
Data will be available soon
VTEB
Total weight of top 15 holdings out of 15
1.57%
Top 15 holdings
Data as of January 1, 1970
FMHI
Data will be available soon
VTEB
US13063EUN48
0.16%
US13063EUP95
0.15%
City of New York, 5% 1aug2034, USD (2026)
0.12%
University of California, 5% 15may2036, USD (2025)
0.11%
US68608JXF38
0.10%
Idaho, 4% 30jun2027, USD (2026)
0.10%
US87638QBF54
0.10%
California, 5.25% 1aug2032, USD
0.10%
US646140KX00
0.10%
New Jersey Health Care Facilities Financing Authority, 1.9% 1jul2061, USD (2026B-1)
0.10%
City of New York, 5% 1aug2032, USD (2026)
0.09%
US574193YA01
0.09%
Wisconsin, 5% 1may2038, USD (2026)
0.09%
Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2026A)
0.08%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.08%
Frequently asked questions about FMHI and VTEB
How have the FMHI and VTEB ETFs performed in 2026?
As of October 15, 2026, FMHI is down -0.77% year-to-date (YTD), while VTEB has lost -2.08%. That puts FMHI better performer ahead so far this year.
Which ETF is attracting more investor money: FMHI or VTEB?
Year-to-date, the FMHI ETF saw +$196M in flows, compared to +$10.89B for VTEB.
Which ETF is more volatile: FMHI or VTEB?
Over the past year, FMHI had a volatility of 3.82%, while VTEB experienced 3.33%.
Which ETF is bigger: FMHI or VTEB?
As of October 15, 2026, FMHI holds $1.02 B in assets under management (AUM), while VTEB manages $51.37 B.
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Latest news about FMHI & VTEB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
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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