MUBvsVTEBETF Comparison
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iShares National Muni Bond ETF (MUB) and Vanguard Tax-Exempt Bond Index ETF (VTEB) belong to the same industry segment: Municipal Bonds. MUB's top 2 sector exposures are Municipal and Non-Corporate. In contrast, VTEB's top sector exposures are Municipal. MUB is more expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.03% for VTEB. MUB is down -0.65% year-to-date (YTD) with +$13.78B in YTD flows. VTEB performs worse with -0.67% YTD performance, and +$11.29B in YTD flows. Run a side-by-side ETF comparison of MUB 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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MUB vs VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUB VTEB | +3.83%+3.90% | -1.07%-1.18% | -0.65%-0.67% | -0.30%-0.37% | +8.97%+13.22% | -0.35%+3.02% |
| Flows | MUB VTEB | +$7.18B+$4.74B | +$9.92B+$8.06B | +$13.78B+$11.29B | +$14.97B+$12.81B | +$18.91B+$24.37B | +$33.33B+$40.47B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUB VTEB | +5.22%+5.44% | +3.31%+3.45% | +3.68%+3.85% | +3.60%+3.84% |
| Max drawdown | MUB VTEB | -5.55%-5.74% | -6.40%-6.63% | -6.40%-6.63% | -11.55%-12.41% |
| Max drawdown duration | MUB VTEB | 74d74d | 112d112d | 112d112d | 1488d1001d |
Trading data
MUB | VTEB | |
Last sale 10/27/2026 at 1:30 PM | $103.87 | $48.69 |
| Previous close 10/26/2026 | $103.82 | $48.68 |
| Consolidated volume 10/26/2026 | ||
| 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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MUB | 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 10/27/2026 at 1:30 PM
Live
Closed
MUB | VTEB | |
|---|---|---|
| Last price | $103.87 | $48.69 |
| 1D performance | +0.05% | +0.02% |
| AuM | $54.09 B | $52.51 B |
| E/R | 0.05% | 0.03% |
Characteristics
MUB | VTEB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Vanguard |
| Benchmark | ICE AMT-Free US National Municipal Index | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | 3823 | 5200 |
| Asset class | Fixed Income | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 7, 2007 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
MUB
USA
56.95%
Other
43.05%
VTEB
USA
55.18%
Other
44.82%
Sectors
MUB
Municipal
56.94%
Other
43.06%
VTEB
Municipal
55.18%
Other
44.82%
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Diversification
MUB
Total weight of top 15 holdings out of 15
1.93%
VTEB
Total weight of top 15 holdings out of 15
1.57%
Top 15 holdings
Data as of August 31, 2026
MUB
University of Texas, 5% 15aug2036, USD (2025B)
0.19%
US79642GTU66
0.15%
US650028ZA41
0.15%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.13%
Houston Higher Education Finance Corp., 5% 15may2034, USD (2024)
0.13%
New Jersey, 5% 1jun2028, USD
0.13%
Northwest Independent School District, 5.25% 15feb2055, USD (2025)
0.13%
Ohio State University, 5% 1jun2035, USD (2026)
0.12%
California, 5% 1sep2031, USD
0.12%
US93974EVY93
0.12%
Illinois, 5% 1nov2027, USD (2017D)
0.11%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.11%
Chicago Transit Authority, 5% 1dec2049, USD (2024A)
0.11%
US812643ZK32
0.11%
US44244CN944
0.11%
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 MUB and VTEB
How have the MUB and VTEB ETFs performed in 2026?
As of October 26, 2026, MUB is down -0.65% year-to-date (YTD), while VTEB has lost -0.67%. That puts MUB better performer ahead so far this year.
Which ETF is attracting more investor money: MUB or VTEB?
Year-to-date, the MUB ETF saw +$13.78B in flows, compared to +$11.29B for VTEB.
Which ETF is more volatile: MUB or VTEB?
Over the past year, MUB had a volatility of 3.31%, while VTEB experienced 3.45%.
Which ETF is bigger: MUB or VTEB?
As of October 26, 2026, MUB holds $54.09 B in assets under management (AUM), while VTEB manages $52.51 B.
What sectors do the MUB and VTEB ETFs invest in?
MUB leans toward sectors like Municipal. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the MUB ETF and VTEB ETF?
MUB top holdings include University of Texas, 5% 15aug2036, USD (2025B), US79642GTU66 and US650028ZA41. VTEB holds in its top three: US13063EUN48, US13063EUP95 and City of New York, 5% 1aug2034, USD (2026).
Which ETF is more diversified: MUB or VTEB?
MUB holds 6873 securities with 1.93% of its assets in the top 15. VTEB has 10722 securities and a top 15 weight of 1.57%.
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Latest news about MUB & VTEB
The Weekly ETF Market Monitor (October 19-23, 2026)
October 26, 2026
MUB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
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VTEB
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September 2, 2025
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January 22, 2025
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A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF
April 21, 2023
MUB
VTEB
A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF
April 21, 2023
MUB
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
MUB
VTEB
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