VTEBvsMLNETF Comparison

ETF 1

VTEB

Vanguard Tax-Exempt Bond Index ETF

This fund is part of

Municipal Bonds

+0.2%

Full VTEB fund page

ETF 2

MLN

VanEck Long Muni ETF

This fund is part of

Municipal Bonds

+0.2%

Full MLN fund page

Vanguard Tax-Exempt Bond Index ETF (VTEB) and VanEck Long Muni ETF (MLN) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. VTEB is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.24% for MLN. VTEB is down -1% year-to-date (YTD) with +$11.20B in YTD flows. MLN performs worse with -2.11% YTD performance, and +$126M in YTD flows. Run a side-by-side ETF comparison of VTEB and MLN 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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VTEB vs MLN performance and flow charts

Performance

Cumulative Flows

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Data Services

Historic performance and flows

Data as of 10/23/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	VTEB MLN	+1.65%+1.06%	-1.15%-2.75%	-1.00%-2.11%	-0.66%-2.19%	+12.92%+14.54%	+2.65%-7.72%
Flows	VTEB MLN	+$4.90B+$82M	+$8.02B+$87M	+$11.20B+$126M	+$12.73B+$135M	+$24.55B+$340M	+$40.40B+$580M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	VTEB MLN	+5.39%+7.40%	+3.43%+4.71%	+3.84%+5.73%	+3.83%+6.08%
Max drawdown	VTEB MLN	-5.74%-7.80%	-6.63%-9.02%	-6.63%-9.02%	-12.41%-23.40%
Max drawdown duration	VTEB MLN	71d71d	109d109d	109d109d	1001d1754d

Trading data

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	VTEB	MLN
Last sale 10/23/2026 at 1:30 PM	$48.51	$16.71
Previous close 10/22/2026	$48.41	$16.70
Consolidated volume 10/22/2026
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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	VTEB	MLN
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/23/2026 at 1:30 PM

Live

Closed

	VTEB	MLN
Last price	$48.51	$16.71
1D performance	+0.21%	+0.06%
AuM	$52.25 B	$739.54 M
E/R	0.03%	0.24%

Characteristics

	VTEB	MLN
Management strategy	Passive	Passive
Provider	Vanguard	VanEck
Benchmark	S&P National AMT-Free Municipal Bond Index	ICE Long AMT-Free Broad National Municipal Index
N° of holdings	5200	346
Asset class	Bonds	-
Trailing 12m distribution yield	Join	Join
Inception date	August 21, 2015	January 2, 2008
ESG	No	No

More VTEB data on Trackinsight

More MLN data on Trackinsight

Exposure

Countries

VTEB

USA

55.18%

Other

44.82%

MLN

USA

56.14%

Other

43.86%

Sectors

VTEB

Municipal

55.18%

Other

44.82%

MLN

Municipal

56.14%

Other

43.86%

Diversification

VTEB

Total weight of top 15 holdings out of 15

1.57%

MLN

Total weight of top 15 holdings out of 15

7.99%

Top 15 holdings

Data as of August 31, 2026

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%

MLN

Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C)

0.76%

City of New York, 5% 1sep2048, USD (2025)

0.74%

Onondaga Civic Development Corp., 5.5% 1dec2056, USD (2025)

0.52%

Texas Transportation Finance Corp., 5.5% 1oct2055, USD (2025A)

0.52%

US677523JU73

0.51%

Los Angeles Department of Airports, 5.25% 15may2051, USD (2025)

0.51%

US64990KHZ93

0.51%

Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025)

0.50%

New York Municipal Water Finance Authority, 5.25% 15jun2055, USD (2026)

0.50%

Colorado Bridge and Tunnel Enterprise, 5.25% 1dec2054, USD (2025A)

0.50%

City of New York, 5% 1oct2045, USD (2026)

0.50%

Massachusetts, 5% 1aug2054, USD (2024)

0.49%

North Carolina Turnpike Authority, 5% 1jan2058, USD (2024A)

0.49%

US93978LJN73

0.49%

US677632N648

0.47%

Frequently asked questions about VTEB and MLN

How have the VTEB and MLN ETFs performed in 2026?

As of October 23, 2026, VTEB is down -1% year-to-date (YTD), while MLN has lost -2.11%. That puts VTEB better performer ahead so far this year.

Which ETF is attracting more investor money: VTEB or MLN?

Year-to-date, the VTEB ETF saw +$11.20B in flows, compared to +$126M for MLN.

Which ETF is more volatile: VTEB or MLN?

Over the past year, VTEB had a volatility of 3.43%, while MLN experienced 4.71%.

Which ETF is bigger: VTEB or MLN?

As of October 23, 2026, VTEB holds $52.25 B in assets under management (AUM), while MLN manages $739.54 M.

What sectors do the VTEB and MLN ETFs invest in?

VTEB leans toward sectors like Municipal. Meanwhile, MLN focuses on Municipal.

What are the top holdings of the VTEB ETF and MLN ETF?

VTEB top holdings include US13063EUN48, US13063EUP95 and City of New York, 5% 1aug2034, USD (2026). MLN holds in its top three: Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C), City of New York, 5% 1sep2048, USD (2025) and Onondaga Civic Development Corp., 5.5% 1dec2056, USD (2025).

VTEBvsMLNETF Comparison

Vanguard Tax-Exempt Bond Index ETF

VanEck Long Muni ETF

VTEB vs MLN 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 VTEB and MLN ETFs performed in 2026?

As of October 23, 2026, VTEB is down -1% year-to-date (YTD), while MLN has lost -2.11%. That puts VTEB better performer ahead so far this year.

Which ETF is attracting more investor money: VTEB or MLN?

Year-to-date, the VTEB ETF saw +$11.20B in flows, compared to +$126M for MLN.

Which ETF is more volatile: VTEB or MLN?

Over the past year, VTEB had a volatility of 3.43%, while MLN experienced 4.71%.

Which ETF is bigger: VTEB or MLN?

As of October 23, 2026, VTEB holds $52.25 B in assets under management (AUM), while MLN manages $739.54 M.

What sectors do the VTEB and MLN ETFs invest in?

VTEB leans toward sectors like Municipal. Meanwhile, MLN focuses on Municipal.

What are the top holdings of the VTEB ETF and MLN ETF?

Which ETF is more diversified: VTEB or MLN?

VTEB holds 10722 securities with 1.57% of its assets in the top 15. MLN has 633 securities and a top 15 weight of 7.99%.

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