TAFLvsVTECETF Comparison
VS
AB Tax-Aware Long Municipal ETF (TAFL) and Vanguard California Tax-Exempt Bond ETF (VTEC) 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 0.06% for VTEC. TAFL is down -0.94% year-to-date (YTD) with +$21M in YTD flows. VTEC performs worse with -1.98% YTD performance, and +$1.74B in YTD flows. Run a side-by-side ETF comparison of TAFL 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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TAFL vs VTEC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAFL VTEC | -2.74%-2.51% | -3.13%-3.16% | -0.94%-1.98% | +0.53%-0.47% | n/an/a | n/an/a |
| Flows | TAFL VTEC | +$4M+$261M | +$10M+$782M | +$21M+$1.74B | +$39M+$2.17B | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFL VTEC | +3.66%+3.09% | +3.05%+2.46% | n/an/a | n/an/a |
| Max drawdown | TAFL VTEC | -4.16%-3.74% | -4.16%-3.81% | n/an/a | n/an/a |
| Max drawdown duration | TAFL VTEC | 70d71d | 70d198d | n/an/a | n/an/a |
Trading data
TAFL | VTEC | |
Last sale 9/15/2026 at 7:59 PM | $23.93 | $96.06 |
| Previous close 09/15/2026 | $24.01 | $96.05 |
| Consolidated volume 09/15/2026 | ||
| 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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TAFL
is actively managed and doesn’t replicate an indexTAFL | VTEC | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Main metrics
Last update 9/15/2026 at 7:59 PM
Live
Closed
TAFL | VTEC | |
|---|---|---|
| Last price | $23.93 | $96.06 |
| 1D performance | -0.33% | +0.01% |
| AuM | $66.19 M | $3.37 B |
| E/R | 0.28% | 0.06% |
Characteristics
TAFL | VTEC | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AllianceBernstein | Vanguard |
| Benchmark | - | S&P California AMT-Free Municipal Bond Index |
| N° of holdings | 64 | 1775 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 13, 2023 | January 30, 2024 |
| ESG | No | No |
Exposure
Countries
TAFL
USA
63.23%
Other
36.77%
VTEC
USA
64.08%
Other
35.92%
Sectors
TAFL
Municipal
63.23%
Other
36.77%
VTEC
Municipal
64.08%
Other
35.92%
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Diversification
TAFL
Total weight of top 15 holdings out of 15
29.64%
VTEC
Total weight of top 15 holdings out of 15
3.64%
Top 15 holdings
Data as of July 31, 2026
TAFL
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
2.68%
Chicago, 5.25% 1nov2061, USD (2026A)
2.60%
West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B)
2.23%
New York Dormitory Authority, 5% 15mar2055, USD (2025C)
2.07%
South Carolina Public Service Authority, 5.25% 1dec2054, USD (2024)
2.03%
US812643C776
1.97%
US494791UA28
1.84%
US59333P7M43
1.81%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.79%
Cuyahoga, 5.5% 1dec2061, USD (2026)
1.79%
Denver Airport System, 5% 15nov2036, USD (2022A)
1.78%
Massachusetts Development Finance Agency, 5.5% 1dec2056, USD
1.77%
US79766DTP41
1.76%
US576000E334
1.76%
Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C)
1.76%
VTEC
University of California, 5% 15may2036, USD (2025)
0.48%
Bay Area Toll Authority, 5% 1apr2061, USD (2026)
0.34%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.25%
US544647HQ66
0.25%
US91412HWB58
0.24%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.24%
University of California, 5% 15may2032, USD (2022)
0.22%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.22%
Los Angeles Department of Water and Power, 5% 1jul2028, USD (2025)
0.22%
San Diego Community College District, 5% 1aug2031, USD
0.21%
US544647HM52
0.20%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.19%
California Educational Facilities Authority, 5% 1may2049, USD
0.19%
California, 5.25% 1aug2032, USD
0.19%
RIR Floater Trust, FRN 1aug2042, USD (2022-045)
0.19%
Frequently asked questions about TAFL and VTEC
How have the TAFL and VTEC ETFs performed in 2026?
As of September 14, 2026, TAFL is down -0.94% year-to-date (YTD), while VTEC has lost -1.98%. That puts TAFL better performer ahead so far this year.
Which ETF is attracting more investor money: TAFL or VTEC?
Year-to-date, the TAFL ETF saw +$21M in flows, compared to +$1.74B for VTEC.
Which ETF is more volatile: TAFL or VTEC?
Over the past year, TAFL had a volatility of 3.05%, while VTEC experienced 2.46%.
Which ETF is bigger: TAFL or VTEC?
As of September 14, 2026, TAFL holds $66.19 M in assets under management (AUM), while VTEC manages $3.37 B.
What sectors do the TAFL and VTEC ETFs invest in?
TAFL leans toward sectors like Municipal. Meanwhile, VTEC focuses on Municipal.
What are the top holdings of the TAFL ETF and VTEC ETF?
TAFL top holdings include Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025), Chicago, 5.25% 1nov2061, USD (2026A) and West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B). VTEC holds in its top three: University of California, 5% 15may2036, USD (2025), Bay Area Toll Authority, 5% 1apr2061, USD (2026) and Los Angeles Unified School District, 5% 1jul2034, USD (2024A).
Which ETF is more diversified: TAFL or VTEC?
TAFL holds 119 securities with 29.64% of its assets in the top 15. VTEC has 3925 securities and a top 15 weight of 3.64%.
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