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MFLXvsVTESETF Comparison

ETF 1

MFLX

First Trust Flexible Municipal High Income ETF

This fund is part of

Municipal Bonds

+0.67%

Full MFLX fund page

VS

ETF 2

VTES

Vanguard Short-Term Tax-Exempt Bond ETF

This fund is part of

Municipal Bonds

+0.67%

Full VTES fund page

First Trust Flexible Municipal High Income ETF (MFLX) and Vanguard Short-Term Tax-Exempt Bond ETF (VTES) belong to the same industry segment: Municipal Bonds. In contrast, VTES's top sector exposures are Municipal. MFLX is more expensive with a Total Expense Ratio (TER) of 0.49%, versus 0.05% for VTES. MFLX is down -1.8% year-to-date (YTD) with +$3M in YTD flows. VTES performs better with 0.03% YTD performance, and +$2.51B in YTD flows. Run a side-by-side ETF comparison of MFLX and VTES 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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MFLX vs VTES performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/14/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	MFLX VTES	-2.33%+0.09%	-6.07%-0.84%	-1.80%+0.03%	-0.98%+0.56%	+14.90%+9.68%	-5.99%n/a
Flows	MFLX VTES	-+$1.23B	-+$1.96B	+$3M+$2.51B	+$3M+$2.69B	+$8M+$3.86B	+$4M-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	MFLX VTES	+6.17%+2.61%	+4.10%+1.59%	+4.81%+1.60%	+5.52%n/a
Max drawdown	MFLX VTES	-7.53%-2.66%	-7.87%-2.95%	-7.87%-2.95%	-24.25%n/a
Max drawdown duration	MFLX VTES	87d63d	100d231d	100d231d	1746dn/a

Trading data

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	MFLX	VTES
Last sale 10/15/2026 at 1:30 PM	$16.14	$99.57
Previous close 10/15/2026	$15.97	$99.50
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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MFLX

is actively managed and doesn’t replicate an index

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	MFLX	VTES
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/15/2026 at 1:30 PM

Live

Closed

	MFLX	VTES
Last price	$16.14	$99.57
1D performance	+1.03%	+0.07%
AuM	$20.06 M	$4.08 B
E/R	0.49%	0.05%

Characteristics

	MFLX	VTES
Management strategy	Active	Passive
Provider	First Trust	Vanguard
Benchmark	-	S&P 0-7 Year National AMT-Free Municipal Bond Index
N° of holdings	-	1671
Asset class	-	Fixed Income
Trailing 12m distribution yield	Join	Join
Inception date	September 27, 2016	March 9, 2023
ESG	No	No

More MFLX data on Trackinsight

More VTES data on Trackinsight

Exposure

Countries

MFLX

Data will be available soon

VTES

USA

52.32%

Other

47.68%

Sectors

MFLX

Data will be available soon

VTES

Municipal

52.32%

Other

47.68%

Diversification

MFLX

Data will be available soon

VTES

Total weight of top 15 holdings out of 15

5.61%

Top 15 holdings

Data as of January 1, 1970

MFLX

Data will be available soon

VTES

US13063EUN48

0.91%

US13063EUM64

0.86%

US13063EUP95

0.78%

US13063EUU80

0.42%

North Colonie Central School District, 3.75% 25jun2027, USD (2026)

0.40%

US13063EUQ78

0.38%

US13063EUS35

0.30%

Illinois, 5% 1nov2028, USD (2017D)

0.22%

US64972JQM35

0.21%

US13063ENN21

0.19%

Illinois, 5% 1nov2027, USD (2017D)

0.19%

Los Angeles Unified School District, 5% 1jul2032, USD (2024)

0.19%

New Jersey, 5% 1jun2029, USD

0.19%

Pennsylvania Public School Building Authority, 5% 1jun2033, USD (2016A)

0.18%

New Jersey Economic Development Authority, 5% 15jun2042, USD

0.18%

Frequently asked questions about MFLX and VTES

How have the MFLX and VTES ETFs performed in 2026?

As of October 14, 2026, MFLX is down -1.8% year-to-date (YTD), while VTES has returned 0.03%. That puts VTES better performer ahead so far this year.

Which ETF is attracting more investor money: MFLX or VTES?

Year-to-date, the MFLX ETF saw +$3M in flows, compared to +$2.51B for VTES.

Which ETF is more volatile: MFLX or VTES?

Over the past year, MFLX had a volatility of 4.1%, while VTES experienced 1.59%.

Which ETF is bigger: MFLX or VTES?

As of October 14, 2026, MFLX holds $20.06 M in assets under management (AUM), while VTES manages $4.08 B.

A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF

April 21, 2023

VTES

MFLXvsVTESETF Comparison

First Trust Flexible Municipal High Income ETF

Vanguard Short-Term Tax-Exempt Bond ETF

MFLX vs VTES performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the MFLX and VTES ETFs performed in 2026?

As of October 14, 2026, MFLX is down -1.8% year-to-date (YTD), while VTES has returned 0.03%. That puts VTES better performer ahead so far this year.

Which ETF is attracting more investor money: MFLX or VTES?

Year-to-date, the MFLX ETF saw +$3M in flows, compared to +$2.51B for VTES.

Which ETF is more volatile: MFLX or VTES?

Over the past year, MFLX had a volatility of 4.1%, while VTES experienced 1.59%.

Which ETF is bigger: MFLX or VTES?

As of October 14, 2026, MFLX holds $20.06 M in assets under management (AUM), while VTES manages $4.08 B.

A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF

Build and Analyze Your ETF Portfolio Like a Pro