VTEBvsSHYDETF Comparison
VS
Vanguard Tax-Exempt Bond Index ETF (VTEB) and VanEck Short High Yield Muni ETF (SHYD) 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 0.32% for SHYD. VTEB is down -0.9% year-to-date (YTD) with +$4.85B in YTD flows. SHYD performs better with 0.65% YTD performance, and +$74M in YTD flows. Run a side-by-side ETF comparison of VTEB and SHYD 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 SHYD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/09/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEB SHYD | -1.92%-0.80% | -2.42%-0.51% | -0.90%+0.65% | +1.47%+1.62% | +9.11%+12.14% | +1.77%+3.09% |
| Flows | VTEB SHYD | +$438M+$9M | +$2.49B+$29M | +$4.85B+$74M | +$7.56B+$114M | +$18.69B+$73M | +$34.29B+$97M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEB SHYD | +2.76%+1.59% | +2.46%+1.54% | +3.72%+2.28% | +3.67%+2.40% |
| Max drawdown | VTEB SHYD | -3.03%-1.02% | -3.03%-2.14% | -5.41%-2.95% | -12.41%-12.22% |
| Max drawdown duration | VTEB SHYD | 65d65d | 65d123d | 275d114d | 1001d1421d |
Trading data
VTEB | SHYD | |
Last sale 9/10/2026 at 1:30 PM | $48.26 | $22.31 |
| Previous close 09/09/2026 | $48.61 | $22.39 |
| Consolidated volume 09/09/2026 | ||
| 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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VTEB | SHYD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/10/2026 at 1:30 PM
Live
Closed
VTEB | SHYD | |
|---|---|---|
| Last price | $48.26 | $22.31 |
| 1D performance | -0.72% | -0.36% |
| AuM | $45.94 B | $457.72 M |
| E/R | 0.03% | 0.32% |
Characteristics
VTEB | SHYD | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | VanEck |
| Benchmark | S&P National AMT-Free Municipal Bond Index | ICE 1-12 Year Broad High Yield Crossover Municipal Index |
| N° of holdings | 5288 | 270 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 21, 2015 | January 13, 2014 |
| ESG | No | No |
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Exposure
Countries
VTEB
USA
57.45%
Other
42.55%
SHYD
USA
57.85%
Other
42.15%
Sectors
VTEB
Municipal
57.45%
Other
42.55%
SHYD
Municipal
57.85%
Other
42.15%
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Diversification
VTEB
Total weight of top 15 holdings out of 15
1.34%
SHYD
Total weight of top 15 holdings out of 15
13.22%
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%
SHYD
California Municipal Finance Authority, 4% 15jul2029, USD (2019)
1.58%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
1.20%
Puerto Rico, 5.75% 1jul2031, USD
0.94%
Puerto Rico, 4% 1jul2033, USD
0.87%
Denver, 5% 1oct2032, USD (2017)
0.87%
US13034A7E44
0.84%
Greater Orlando Aviation Authority, 5.5% 1nov2037, USD (2025)
0.84%
US09182TGC53
0.81%
US05786PAA12
0.81%
Mission Economic Development Corp., 4.625% 1oct2031, USD (2018)
0.79%
New York Transportation Development Corp., 4% 1jul2035, USD (2016A)
0.77%
Puerto Rico, 5.625% 1jul2029, USD
0.74%
US74440DFN93
0.73%
US650116FD37
0.73%
Baldwin Industrial Development Authority, 4.3% 1mar2056, USD (2026A)
0.69%
Frequently asked questions about VTEB and SHYD
How have the VTEB and SHYD ETFs performed in 2026?
As of September 9, 2026, VTEB is down -0.9% year-to-date (YTD), while SHYD has returned 0.65%. That puts SHYD better performer ahead so far this year.
Which ETF is attracting more investor money: VTEB or SHYD?
Year-to-date, the VTEB ETF saw +$4.85B in flows, compared to +$74M for SHYD.
Which ETF is more volatile: VTEB or SHYD?
Over the past year, VTEB had a volatility of 2.46%, while SHYD experienced 1.54%.
Which ETF is bigger: VTEB or SHYD?
As of September 9, 2026, VTEB holds $45.94 B in assets under management (AUM), while SHYD manages $457.72 M.
What sectors do the VTEB and SHYD ETFs invest in?
VTEB leans toward sectors like Municipal. Meanwhile, SHYD focuses on Municipal.
What are the top holdings of the VTEB ETF and SHYD 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). SHYD holds in its top three: California Municipal Finance Authority, 4% 15jul2029, USD (2019), Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1) and Puerto Rico, 5.75% 1jul2031, USD.
Which ETF is more diversified: VTEB or SHYD?
VTEB holds 10658 securities with 1.34% of its assets in the top 15. SHYD has 514 securities and a top 15 weight of 13.22%.
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Latest news about VTEB & SHYD
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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