TMBvsVTEBETF Comparison
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Thornburg Multi Sector Bond ETF (TMB) belongs to the Intl Aggregate Bonds segment. Vanguard Tax-Exempt Bond Index ETF (VTEB) is part of the Municipal Bonds segment. TMB's top 3 sector exposures are Finance, Sovereign and Industrials. In contrast, VTEB's top sector exposures are Municipal. TMB is more expensive with a Total Expense Ratio (TER) of 0.55%, versus 0.03% for VTEB. TMB is down -0.2% year-to-date (YTD) with +$198M in YTD flows. VTEB performs worse with -2.08% YTD performance, and +$10.89B in YTD flows. Run a side-by-side ETF comparison of TMB 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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TMB vs VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMB VTEB | -0.09%-0.21% | -1.10%-3.46% | -0.20%-2.08% | +0.28%-1.57% | n/a+10.28% | n/a+1.27% |
| Flows | TMB VTEB | +$7M+$5.04B | +$37M+$7.65B | +$198M+$10.89B | +$194M+$12.82B | -+$24.62B | -+$39.99B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMB VTEB | +2.92%+5.28% | +2.60%+3.33% | n/a+3.84% | n/a+3.82% |
| Max drawdown | TMB VTEB | -2.30%-5.92% | -2.53%-6.63% | n/a-6.63% | n/a-12.41% |
| Max drawdown duration | TMB VTEB | 52d92d | 229d102d | n/a102d | n/a1001d |
Trading data
TMB | VTEB | |
Last sale 10/16/2026 at 1:30 PM | $24.82 | $48.00 |
| Previous close 10/15/2026 | $24.81 | $47.96 |
| 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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TMB
is actively managed and doesn’t replicate an indexTMB | 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 10/16/2026 at 1:30 PM
Live
Closed
TMB | VTEB | |
|---|---|---|
| Last price | $24.82 | $48.00 |
| 1D performance | +0.04% | +0.08% |
| AuM | $266.36 M | $51.37 B |
| E/R | 0.55% | 0.03% |
Exposure
Countries
TMB
USA
49.95%
Other
50.05%
VTEB
USA
55.18%
Other
44.82%
Sectors
TMB
Finance
12.66%
Sovereign
8.69%
Industrials
7.9%
Other
70.75%
VTEB
Municipal
55.18%
Other
44.82%
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Diversification
TMB
Total weight of top 15 holdings out of 15
25.83%
VTEB
Total weight of top 15 holdings out of 15
1.57%
Top 15 holdings
Data as of August 31, 2026
TMB
US91282CRF04
9.33%
USA, Notes 4.25% 30jun2033, USD (M-2033)
3.42%
Thornburg Capital Management Fund
2.90%
USA, Bonds 2.875% 15aug2045, USD
1.66%
USA, Notes 3.75% 31aug2031, USD (P-2031)
1.31%
FR RQ0146, 5.5% 1aug2056, USD (ABS)
1.14%
US3140W5WV28
1.02%
FN MA5497, 5.5% 1oct2054, USD (ABS)
0.92%
US31418D3H34
0.89%
US912803HV84
0.72%
FR SD8178, 2.5% 1nov2051, USD (ABS)
0.64%
US31418F2K27
0.57%
USA, STRIPS 0% 15may2042, USD (10957D)
0.51%
US3140XRWW19
0.40%
US142921AG08
0.38%
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 TMB and VTEB
How have the TMB and VTEB ETFs performed in 2026?
As of October 16, 2026, TMB is down -0.2% year-to-date (YTD), while VTEB has lost -2.08%. That puts TMB better performer ahead so far this year.
Which ETF is attracting more investor money: TMB or VTEB?
Year-to-date, the TMB ETF saw +$198M in flows, compared to +$10.89B for VTEB.
Which ETF is more volatile: TMB or VTEB?
Over the past year, TMB had a volatility of 2.6%, while VTEB experienced 3.33%.
Which ETF is bigger: TMB or VTEB?
As of October 16, 2026, TMB holds $266.36 M in assets under management (AUM), while VTEB manages $51.37 B.
What sectors do the TMB and VTEB ETFs invest in?
TMB leans toward sectors like Finance, Sovereign and Industrials. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the TMB ETF and VTEB ETF?
TMB top holdings include US91282CRF04, USA, Notes 4.25% 30jun2033, USD (M-2033) and Thornburg Capital Management Fund. VTEB holds in its top three: US13063EUN48, US13063EUP95 and City of New York, 5% 1aug2034, USD (2026).
Which ETF is more diversified: TMB or VTEB?
TMB holds 631 securities with 25.83% 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 TMB & 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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