VTEBvsNMBETF Comparison
VS
Vanguard Tax-Exempt Bond Index ETF (VTEB) belongs to the Municipal Bonds segment. Simplify National Muni Bond ETF (NMB) is part of the Options Strategies segment. Both ETFs have the same top 1 sector exposures: Municipal. VTEB is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.52% for NMB. VTEB is down -0.45% year-to-date (YTD) with +$4.91B in YTD flows. NMB performs worse with -0.54% YTD performance, and +$4M in YTD flows. Run a side-by-side ETF comparison of VTEB and NMB 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 NMB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEB NMB | -1.48%-1.87% | -1.94%-1.80% | -0.45%-0.54% | +2.10%+2.22% | +9.62%n/a | +2.22%n/a |
| Flows | VTEB NMB | +$501M+$615K | +$2.47B+$2M | +$4.91B+$4M | +$7.76B+$2M | +$18.74B- | +$34.34B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEB NMB | +2.64%+3.54% | +2.42%+4.51% | +3.71%n/a | +3.67%n/a |
| Max drawdown | VTEB NMB | -2.59%-3.09% | -2.65%-5.33% | -5.41%n/a | -12.41%n/a |
| Max drawdown duration | VTEB NMB | 64d64d | 117d315d | 275dn/a | 1001dn/a |
Trading data
VTEB | NMB | |
Last sale 9/9/2026 at 1:30 PM | $48.61 | $23.80 |
| Previous close 09/08/2026 | $48.87 | $24.04 |
| Consolidated volume 09/08/2026 | ||
| 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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NMB
is actively managed and doesn’t replicate an indexVTEB | NMB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/9/2026 at 1:30 PM
Live
Closed
VTEB | NMB | |
|---|---|---|
| Last price | $48.61 | $23.80 |
| 1D performance | -0.53% | -1.00% |
| AuM | $46.21 B | $48.10 M |
| E/R | 0.03% | 0.52% |
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Exposure
Countries
VTEB
USA
57.45%
Other
42.55%
NMB
USA
54.36%
Other
45.64%
Sectors
VTEB
Municipal
57.45%
Other
42.55%
NMB
Municipal
54.36%
Other
45.64%
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Diversification
VTEB
Total weight of top 15 holdings out of 15
1.34%
NMB
Total weight of top 15 holdings out of 15
53.67%
Top 15 holdings
Data as of July 31, 2026
VTEB
City of New York, 5% 1aug2034, USD (2026)
0.12%
University of California, 5% 15may2036, USD (2025)
0.11%
Idaho, 4% 30jun2027, USD (2026)
0.10%
California, 5.25% 1aug2032, USD
0.10%
US574193YA01
0.09%
US650028F737
0.09%
Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2026A)
0.09%
US650028F653
0.08%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.08%
US67766WV741
0.08%
Energy Northwest, 5% 1jul2034, USD (2026-A)
0.08%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.08%
US646140KX00
0.08%
New Jersey Turnpike Authority, 5% 1jan2032, USD (2025)
0.08%
Illinois, 5% 1nov2027, USD (2017D)
0.08%
NMB
US43233KAW45
4.39%
Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025)
4.37%
US93974FJY07
4.32%
Jacksonville Aviation Authority, 5.25% 1oct2055, USD (2026)
4.22%
Aldine Independent School District, 4.375% 15feb2051, USD (2026)
3.99%
Midlothian Independent School District, 4.375% 15feb2056, USD (2026)
3.40%
US60637AA360
3.27%
Lee, 5.5% 1oct2051, USD (2026A-1)
3.27%
San Francisco Airport Commission, 5.5% 1may2055, USD (2025D)
3.27%
US46613SUP37
3.23%
Austin, 5.25% 15nov2051, USD (2026B)
3.20%
New Jersey Transportation Trust Fund Authority, 5% 15jun2050, USD (2025)
3.19%
US6500093S07
3.19%
Omaha Public Power District, 5% 1feb2056, USD (2026)
3.18%
US3730643H50
3.17%
Frequently asked questions about VTEB and NMB
How have the VTEB and NMB ETFs performed in 2026?
As of September 8, 2026, VTEB is down -0.45% year-to-date (YTD), while NMB has lost -0.54%. That puts VTEB better performer ahead so far this year.
Which ETF is attracting more investor money: VTEB or NMB?
Year-to-date, the VTEB ETF saw +$4.91B in flows, compared to +$4M for NMB.
Which ETF is more volatile: VTEB or NMB?
Over the past year, VTEB had a volatility of 2.42%, while NMB experienced 4.51%.
Which ETF is bigger: VTEB or NMB?
As of September 8, 2026, VTEB holds $46.21 B in assets under management (AUM), while NMB manages $48.10 M.
What sectors do the VTEB and NMB ETFs invest in?
VTEB leans toward sectors like Municipal. Meanwhile, NMB focuses on Municipal.
What are the top holdings of the VTEB ETF and NMB ETF?
VTEB top holdings include City of New York, 5% 1aug2034, USD (2026), University of California, 5% 15may2036, USD (2025) and Idaho, 4% 30jun2027, USD (2026). NMB holds in its top three: US43233KAW45, Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025) and US93974FJY07.
Which ETF is more diversified: VTEB or NMB?
VTEB holds 10658 securities with 1.34% of its assets in the top 15. NMB has 36 securities and a top 15 weight of 53.67%.
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Latest news about VTEB & NMB
Notable ETF Filings and Launches Recap: September 2024
September 26, 2024
NMB
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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