FOPCvsVTEBETF Comparison
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Frontier Asset Opportunistic Credit ETF (FOPC) belongs to the Intl Aggregate Bonds segment. Vanguard Tax-Exempt Bond Index ETF (VTEB) is part of the Municipal Bonds segment. FOPC's top 3 sector exposures are Sovereign, Finance and Industrials. In contrast, VTEB's top sector exposures are Municipal. FOPC is more expensive with a Total Expense Ratio (TER) of 0.87%, versus 0.03% for VTEB. FOPC is down -0.04% year-to-date (YTD) with -$2M in YTD flows. VTEB performs worse with -0.43% YTD performance, and +$4.61B in YTD flows. Run a side-by-side ETF comparison of FOPC 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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FOPC 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. | FOPC VTEB | -0.12%-0.82% | -0.65%-1.88% | -0.04%-0.43% | +1.77%+3.69% | n/a+9.33% | n/a+2.25% |
| Flows | FOPC VTEB | -$2K+$789M | +$3K+$2.39B | -$2M+$4.61B | +$29K+$7.53B | -+$18.18B | -+$34.09B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FOPC VTEB | +3.28%+2.64% | +2.94%+2.55% | n/a+3.71% | n/a+3.67% |
| Max drawdown | FOPC VTEB | -1.26%-2.57% | -2.16%-2.65% | n/a-5.41% | n/a-12.41% |
| Max drawdown duration | FOPC VTEB | 64d58d | 184d117d | n/a275d | n/a1001d |
Trading data
FOPC | VTEB | |
Last sale 9/3/2026 at 1:46 PM | $25.15 | $48.99 |
| Previous close 09/02/2026 | $25.15 | $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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FOPC
is actively managed and doesn’t replicate an indexFOPC | 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 1:46 PM
Live
Closed
FOPC | VTEB | |
|---|---|---|
| Last price | $25.15 | $48.99 |
| 1D performance | -0.00% | +0.07% |
| AuM | $32.93 M | $45.92 B |
| E/R | 0.87% | 0.03% |
Characteristics
FOPC | VTEB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Frontier Asset Management | Vanguard |
| Benchmark | - | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | 3381 | 5288 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 19, 2024 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
FOPC
USA
53.82%
Other
46.18%
VTEB
USA
57.45%
Other
42.55%
Sectors
FOPC
Sovereign
33.24%
Other
66.76%
VTEB
Municipal
57.45%
Other
42.55%
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Diversification
FOPC
Total weight of top 15 holdings out of 15
37.43%
VTEB
Total weight of top 15 holdings out of 15
1.34%
Top 15 holdings
Data as of July 31, 2026
FOPC
US29287L7001
25.34%
US72201R5853
4.79%
USA, Notes 3.625% 31aug2029, USD (AC-2029)
0.63%
USA, TIPS 1.125% 15oct2030, USD (AE-2030)
0.61%
USA, TIPS 1.25% 15apr2031, USD (X-2031)
0.60%
USA, TIPS 1.625% 15apr2030, USD (X-2030)
0.60%
USA, TIPS 1.625% 15oct2029, USD (AE-2029)
0.59%
USA, TIPS 2.125% 15apr2029, USD (X-2029)
0.56%
USA, TIPS 2.375% 15oct2028, USD (AE-2028)
0.56%
BlackRock Cash Funds - Institutional
0.55%
USA, TIPS 1.625% 15oct2027, USD (AE-2027)
0.55%
USA, TIPS 1.25% 15apr2028, USD (X-2028)
0.53%
USA, TIPS 0.125% 15jan2031, USD (A-2031)
0.52%
USA, TIPS 0.125% 15jul2031, USD (D-2031)
0.51%
USA, TIPS 0.125% 15jul2030, USD (D-2030)
0.50%
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 FOPC and VTEB
How have the FOPC and VTEB ETFs performed in 2026?
As of September 1, 2026, FOPC is down -0.04% year-to-date (YTD), while VTEB has lost -0.43%. That puts FOPC better performer ahead so far this year.
Which ETF is attracting more investor money: FOPC or VTEB?
Year-to-date, the FOPC ETF saw -$2M in flows, compared to +$4.61B for VTEB.
Which ETF is more volatile: FOPC or VTEB?
Over the past year, FOPC had a volatility of 2.94%, while VTEB experienced 2.55%.
Which ETF is bigger: FOPC or VTEB?
As of September 1, 2026, FOPC holds $32.93 M in assets under management (AUM), while VTEB manages $45.92 B.
What sectors do the FOPC and VTEB ETFs invest in?
FOPC leans toward sectors like Sovereign. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the FOPC ETF and VTEB ETF?
FOPC top holdings include US29287L7001, US72201R5853 and USA, Notes 3.625% 31aug2029, USD (AC-2029). 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: FOPC or VTEB?
FOPC holds 12604 securities with 37.43% 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 FOPC & VTEB
Frontier Asset Management Unveils a Suite of Actively Managed "Fund-of-Funds" ETFs
December 27, 2024
FOPC
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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