VTEBvsMUBETF 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

MUB

iShares National Muni Bond ETF

This fund is part of

Municipal Bonds

+0.2%

Full MUB fund page

Vanguard Tax-Exempt Bond Index ETF (VTEB) and iShares National Muni Bond ETF (MUB) belong to the same industry segment: Municipal Bonds. VTEB's top 1 sector exposures are Municipal. In contrast, MUB's top sector exposures are Municipal and Non-Corporate. VTEB is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.05% for MUB. VTEB is down -1% year-to-date (YTD) with +$11.20B in YTD flows. MUB performs better with -0.97% YTD performance, and +$13.78B in YTD flows. Run a side-by-side ETF comparison of VTEB and MUB 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 MUB 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 MUB	+1.65%+1.69%	-1.15%-1.03%	-1.00%-0.97%	-0.66%-0.59%	+12.92%+8.67%	+2.65%-0.71%
Flows	VTEB MUB	+$4.90B+$7.69B	+$8.02B+$9.66B	+$11.20B+$13.78B	+$12.73B+$15.09B	+$24.55B+$19.00B	+$40.40B+$33.33B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	VTEB MUB	+5.39%+5.17%	+3.43%+3.29%	+3.84%+3.67%	+3.83%+3.59%
Max drawdown	VTEB MUB	-5.74%-5.55%	-6.63%-6.40%	-6.63%-6.40%	-12.41%-11.55%
Max drawdown duration	VTEB MUB	71d71d	109d109d	109d109d	1001d1488d

Trading data

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	VTEB	MUB
Last sale 10/23/2026 at 1:30 PM	$48.51	$103.43
Previous close 10/22/2026	$48.41	$103.24
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	MUB
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	MUB
Last price	$48.51	$103.43
1D performance	+0.21%	+0.18%
AuM	$52.25 B	$53.92 B
E/R	0.03%	0.05%

Characteristics

	VTEB	MUB
Management strategy	Passive	Passive
Provider	Vanguard	iShares
Benchmark	S&P National AMT-Free Municipal Bond Index	ICE AMT-Free US National Municipal Index
N° of holdings	5200	3823
Asset class	Bonds	Fixed Income
Trailing 12m distribution yield	Join	Join
Inception date	August 21, 2015	September 7, 2007
ESG	No	No

More VTEB data on Trackinsight

More MUB data on Trackinsight

Exposure

Countries

VTEB

USA

55.18%

Other

44.82%

MUB

USA

56.95%

Other

43.05%

Sectors

VTEB

Municipal

55.18%

Other

44.82%

MUB

Municipal

56.94%

Other

43.06%

Diversification

VTEB

Total weight of top 15 holdings out of 15

1.57%

MUB

Total weight of top 15 holdings out of 15

1.93%

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%

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%

US89602RPH20

0.11%

Frequently asked questions about VTEB and MUB

How have the VTEB and MUB ETFs performed in 2026?

As of October 23, 2026, VTEB is down -1% year-to-date (YTD), while MUB has lost -0.97%. That puts MUB better performer ahead so far this year.

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

Year-to-date, the VTEB ETF saw +$11.20B in flows, compared to +$13.78B for MUB.

Which ETF is more volatile: VTEB or MUB?

Over the past year, VTEB had a volatility of 3.43%, while MUB experienced 3.29%.

Which ETF is bigger: VTEB or MUB?

As of October 23, 2026, VTEB holds $52.25 B in assets under management (AUM), while MUB manages $53.92 B.

What sectors do the VTEB and MUB ETFs invest in?

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

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

VTEB top holdings include US13063EUN48, US13063EUP95 and City of New York, 5% 1aug2034, USD (2026). MUB holds in its top three: University of Texas, 5% 15aug2036, USD (2025B), US79642GTU66 and US650028ZA41.

Which ETF is more diversified: VTEB or MUB?

VTEB holds 10722 securities with 1.57% of its assets in the top 15. MUB has 6873 securities and a top 15 weight of 1.93%.

The Weekly ETF Market Monitor (September 28-October 2, 2026)

October 2, 2026

VTEB

MUB

VTEBvsMUBETF Comparison

Vanguard Tax-Exempt Bond Index ETF

iShares National Muni Bond ETF

VTEB vs MUB 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 MUB ETFs performed in 2026?

As of October 23, 2026, VTEB is down -1% year-to-date (YTD), while MUB has lost -0.97%. That puts MUB better performer ahead so far this year.

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

Year-to-date, the VTEB ETF saw +$11.20B in flows, compared to +$13.78B for MUB.

Which ETF is more volatile: VTEB or MUB?

Over the past year, VTEB had a volatility of 3.43%, while MUB experienced 3.29%.

Which ETF is bigger: VTEB or MUB?

As of October 23, 2026, VTEB holds $52.25 B in assets under management (AUM), while MUB manages $53.92 B.

What sectors do the VTEB and MUB ETFs invest in?

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

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

VTEB top holdings include US13063EUN48, US13063EUP95 and City of New York, 5% 1aug2034, USD (2026). MUB holds in its top three: University of Texas, 5% 15aug2036, USD (2025B), US79642GTU66 and US650028ZA41.

Which ETF is more diversified: VTEB or MUB?

VTEB holds 10722 securities with 1.57% of its assets in the top 15. MUB has 6873 securities and a top 15 weight of 1.93%.

The Weekly ETF Market Monitor (September 28-October 2, 2026)

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