TAFLvsVTEBETF Comparison
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AB Tax-Aware Long Municipal ETF (TAFL) and Vanguard Tax-Exempt Bond Index ETF (VTEB) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TAFL is more expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.03% for VTEB. TAFL is down -0.68% year-to-date (YTD) with +$14M in YTD flows. VTEB performs better with -0.33% YTD performance, and +$11.83B in YTD flows. Run a side-by-side ETF comparison of TAFL 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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TAFL vs VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAFL VTEB | +4.33%+3.60% | -2.33%-0.76% | -0.68%-0.33% | -0.85%+0.08% | n/a+13.76% | n/a+3.15% |
| Flows | TAFL VTEB | -$4M+$4.02B | +$276K+$7.94B | +$14M+$11.83B | +$28M+$13.16B | -+$24.73B | -+$40.97B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFL VTEB | +6.83%+5.41% | +4.25%+3.46% | n/a+3.84% | n/a+3.84% |
| Max drawdown | TAFL VTEB | -6.79%-5.74% | -7.70%-6.63% | n/a-6.63% | n/a-12.41% |
| Max drawdown duration | TAFL VTEB | 77d78d | 115d116d | n/a116d | n/a1001d |
Trading data
TAFL | VTEB | |
Last sale 10/30/2026 at 1:30 PM | $24.11 | $48.88 |
| Previous close 10/29/2026 | $24.04 | $48.70 |
| Consolidated volume 10/29/2026 | ||
| 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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TAFL
is actively managed and doesn’t replicate an indexTAFL | 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 10/30/2026 at 1:30 PM
Live
Closed
TAFL | VTEB | |
|---|---|---|
| Last price | $24.11 | $48.88 |
| 1D performance | +0.31% | +0.37% |
| AuM | $58.89 M | $53.24 B |
| E/R | 0.28% | 0.03% |
Characteristics
TAFL | VTEB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AllianceBernstein | Vanguard |
| Benchmark | - | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | 62 | 5265 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 13, 2023 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
TAFL
USA
56.23%
Other
43.77%
VTEB
USA
52.81%
Other
47.19%
Sectors
TAFL
Municipal
56.23%
Other
43.77%
VTEB
Municipal
52.81%
Other
47.19%
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Diversification
TAFL
Total weight of top 15 holdings out of 15
29.2%
VTEB
Total weight of top 15 holdings out of 15
1.61%
Top 15 holdings
Data as of September 30, 2026
TAFL
US896035DE92
2.94%
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
2.51%
Chicago, 5.25% 1nov2061, USD (2026A)
2.46%
West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B)
2.09%
New York Dormitory Authority, 5% 15mar2055, USD (2025C)
1.94%
South Carolina Public Service Authority, 5.25% 1dec2054, USD (2024)
1.91%
US13048V7N23
1.75%
US494791UA28
1.72%
US544446BT39
1.71%
US13013JCM62
1.71%
US59333P7M43
1.71%
Cuyahoga, 5.5% 1dec2061, USD (2026)
1.70%
US052470AW12
1.69%
US576000E334
1.68%
Chicago O'Hare International Airport, 5.25% 1jan2040, USD (2025A)
1.68%
VTEB
US13063EUN48
0.15%
US13063EUP95
0.14%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.13%
Illinois, 5% 1nov2028, USD (2017D)
0.12%
Ohio State University, 5% 1jun2035, USD (2026)
0.12%
City of New York, 5% 1aug2034, USD (2026)
0.10%
US97705M2B09
0.10%
Wisconsin, 5% 1may2038, USD (2026)
0.10%
University of California, 5% 15may2036, USD (2025)
0.10%
Illinois Toll Highway Authority, 5% 1jan2045, USD
0.10%
Idaho, 4% 30jun2027, USD (2026)
0.10%
US902562ES27
0.09%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.09%
California, 5.25% 1aug2032, USD
0.09%
US88283LLJ34
0.09%
Frequently asked questions about TAFL and VTEB
How have the TAFL and VTEB ETFs performed in 2026?
As of October 29, 2026, TAFL is down -0.68% year-to-date (YTD), while VTEB has lost -0.33%. That puts VTEB better performer ahead so far this year.
Which ETF is attracting more investor money: TAFL or VTEB?
Year-to-date, the TAFL ETF saw +$14M in flows, compared to +$11.83B for VTEB.
Which ETF is more volatile: TAFL or VTEB?
Over the past year, TAFL had a volatility of 4.25%, while VTEB experienced 3.46%.
Which ETF is bigger: TAFL or VTEB?
As of October 29, 2026, TAFL holds $58.89 M in assets under management (AUM), while VTEB manages $53.24 B.
What sectors do the TAFL and VTEB ETFs invest in?
TAFL leans toward sectors like Municipal. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the TAFL ETF and VTEB ETF?
TAFL top holdings include US896035DE92, Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025) and Chicago, 5.25% 1nov2061, USD (2026A). VTEB holds in its top three: US13063EUN48, US13063EUP95 and New York Dormitory Authority, 5.5% 1jul2054, USD (2024A).
Which ETF is more diversified: TAFL or VTEB?
TAFL holds 123 securities with 29.2% of its assets in the top 15. VTEB has 11154 securities and a top 15 weight of 1.61%.
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Latest news about TAFL & 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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