LMUBvsVTECETF Comparison
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iShares Long-Term National Muni Bond ETF (LMUB) and Vanguard California Tax-Exempt Bond ETF (VTEC) belong to the same industry segment: Municipal Bonds. LMUB's top 2 sector exposures are Municipal and Non-Corporate. In contrast, VTEC's top sector exposures are Municipal. LMUB is more expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.06% for VTEC. LMUB is down -3.54% year-to-date (YTD) with +$1.75B in YTD flows. VTEC performs better with -2.37% YTD performance, and +$2.54B in YTD flows. Run a side-by-side ETF comparison of LMUB and VTEC 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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LMUB vs VTEC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | LMUB VTEC | -0.62%-0.33% | -5.55%-3.44% | -3.54%-2.37% | -3.10%-1.74% | n/an/a | n/an/a |
| Flows | LMUB VTEC | -$139M+$796M | +$76M+$1.28B | +$1.75B+$2.54B | +$1.75B+$2.89B | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | LMUB VTEC | +7.05%+4.94% | +4.52%+3.13% | n/an/a | n/an/a |
| Max drawdown | LMUB VTEC | -8.31%-5.76% | -9.29%-6.50% | n/an/a | n/an/a |
| Max drawdown duration | LMUB VTEC | 92d92d | 102d229d | n/an/a | n/an/a |
Trading data
LMUB | VTEC | |
Last sale 10/16/2026 at 1:30 PM | $47.31 | $95.41 |
| Previous close 10/15/2026 | $47.28 | $95.36 |
| 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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LMUB | VTEC | |
|---|---|---|
| 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
LMUB | VTEC | |
|---|---|---|
| Last price | $47.31 | $95.41 |
| 1D performance | +0.06% | +0.05% |
| AuM | $1.67 B | $4.15 B |
| E/R | 0.09% | 0.06% |
Characteristics
LMUB | VTEC | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Vanguard |
| Benchmark | ICE Long AMT-Free US National Municipal Index | S&P California AMT-Free Municipal Bond Index |
| N° of holdings | 408 | 1739 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 17, 2025 | January 30, 2024 |
| ESG | No | No |
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Exposure
Countries
LMUB
USA
56.44%
Other
43.56%
VTEC
USA
60.82%
Other
39.18%
Sectors
LMUB
Municipal
53.58%
Other
46.42%
VTEC
Municipal
60.82%
Other
39.18%
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Diversification
LMUB
Total weight of top 15 holdings out of 15
10.72%
VTEC
Total weight of top 15 holdings out of 15
4.13%
Top 15 holdings
Data as of August 31, 2026
LMUB
BlackRock Liquidity MuniCash
2.86%
Massachusetts, 5% 1oct2052, USD (2023)
0.86%
US64972JPQ57
0.63%
Oklahoma Capitol Improvement Authority, 5.25% 1jul2050, USD (2025A)
0.63%
US646039ZM26
0.61%
US70914P5R91
0.60%
US882725DA91
0.56%
US452153HP77
0.55%
US64985TGH86
0.53%
US452153PC72
0.52%
US812643C289
0.50%
Triborough Bridge and Tunnel Authority, 5% 15nov2041, USD (2026A-1)
0.48%
City of New York, 5.25% 1feb2050, USD (2025)
0.47%
US882270XW66
0.46%
Clark School District, 5% 15jun2040, USD (2026A)
0.46%
VTEC
University of California, FRN 15may2048, USD (2013)
0.52%
University of California, 5% 15may2036, USD (2025)
0.44%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.33%
Bay Area Toll Authority, 5% 1apr2061, USD (2026)
0.31%
US072024YF30
0.29%
US91412HWB58
0.27%
US544647HQ66
0.23%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.23%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.23%
University of California, 5% 15may2032, USD (2022)
0.23%
US13063EUR51
0.22%
US13063EUX20
0.22%
Irvine Ranch Water District, FRN 1oct2041, USD (2009A)
0.21%
Los Angeles Department of Water and Power, 5% 1jul2028, USD (2025)
0.21%
California, 5.25% 1aug2032, USD
0.20%
Frequently asked questions about LMUB and VTEC
How have the LMUB and VTEC ETFs performed in 2026?
As of October 16, 2026, LMUB is down -3.54% year-to-date (YTD), while VTEC has lost -2.37%. That puts VTEC better performer ahead so far this year.
Which ETF is attracting more investor money: LMUB or VTEC?
Year-to-date, the LMUB ETF saw +$1.75B in flows, compared to +$2.54B for VTEC.
Which ETF is more volatile: LMUB or VTEC?
Over the past year, LMUB had a volatility of 4.52%, while VTEC experienced 3.13%.
Which ETF is bigger: LMUB or VTEC?
As of October 16, 2026, LMUB holds $1.67 B in assets under management (AUM), while VTEC manages $4.15 B.
What sectors do the LMUB and VTEC ETFs invest in?
LMUB leans toward sectors like Municipal. Meanwhile, VTEC focuses on Municipal.
What are the top holdings of the LMUB ETF and VTEC ETF?
LMUB top holdings include BlackRock Liquidity MuniCash, Massachusetts, 5% 1oct2052, USD (2023) and US64972JPQ57. VTEC holds in its top three: University of California, FRN 15may2048, USD (2013), University of California, 5% 15may2036, USD (2025) and Los Angeles Unified School District, 5% 1jul2034, USD (2024A).
Which ETF is more diversified: LMUB or VTEC?
LMUB holds 804 securities with 10.72% of its assets in the top 15. VTEC has 3916 securities and a top 15 weight of 4.13%.
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