VTEBvsVTELETF Comparison
VS
Vanguard Tax-Exempt Bond Index ETF (VTEB) and Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) 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 0.09% for VTEL. VTEB is down -0.9% year-to-date (YTD) with +$4.85B in YTD flows. VTEL performs worse with -1.41% YTD performance, and +$211M in YTD flows. Run a side-by-side ETF comparison of VTEB and VTEL 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 VTEL 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 VTEL | -1.92%-2.63% | -2.42%-3.40% | -0.90%-1.41% | +1.47%+1.95% | +9.11%n/a | +1.77%n/a |
| Flows | VTEB VTEL | +$438M+$56M | +$2.49B+$107M | +$4.85B+$211M | +$7.56B+$309M | +$18.69B- | +$34.29B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEB VTEL | +2.76%+3.62% | +2.46%+3.19% | +3.72%n/a | +3.67%n/a |
| Max drawdown | VTEB VTEL | -3.03%-4.21% | -3.03%-4.21% | -5.41%n/a | -12.41%n/a |
| Max drawdown duration | VTEB VTEL | 65d65d | 65d65d | 275dn/a | 1001dn/a |
Trading data
VTEB | VTEL | |
Last sale 9/10/2026 at 4:19 PM | $48.30 | $98.21 |
| Previous close 09/09/2026 | $48.61 | $99.03 |
| 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 | VTEL | |
|---|---|---|
| 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 4:19 PM
Live
Closed
VTEB | VTEL | |
|---|---|---|
| Last price | $48.30 | $98.21 |
| 1D performance | -0.64% | -0.83% |
| AuM | $45.94 B | $375.24 M |
| E/R | 0.03% | 0.09% |
Characteristics
VTEB | VTEL | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | Vanguard |
| Benchmark | S&P National AMT-Free Municipal Bond Index | S&P 10+ Year National AMT-Free Municipal Bond Index |
| N° of holdings | 5288 | 2271 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 21, 2015 | May 20, 2025 |
| ESG | No | No |
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Exposure
Countries
VTEB
USA
57.45%
Other
42.55%
VTEL
USA
58.08%
Other
41.92%
Sectors
VTEB
Municipal
57.45%
Other
42.55%
VTEL
Municipal
58.08%
Other
41.92%
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Diversification
VTEB
Total weight of top 15 holdings out of 15
1.34%
VTEL
Total weight of top 15 holdings out of 15
1.86%
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%
VTEL
California, 5% 1aug2050, USD
0.16%
Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A)
0.15%
US64972JN619
0.15%
New York Municipal Water Finance Authority, 5.25% 15jun2053, USD (2025)
0.13%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.13%
US64972JDG04
0.13%
California, 5% 1aug2042, USD
0.12%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.12%
New Jersey Turnpike Authority, 5% 1jan2052, USD (2026)
0.12%
New York Urban Development Corp., 5% 15mar2043, USD (2020C)
0.11%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.11%
New York Metropolitan Transportation Authority, 4% 15nov2036, USD (2016B)
0.11%
Tampa-Hillsborough Expressway Authority, 5% 1jul2047, USD (2017)
0.11%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.10%
Los Angeles Department of Water and Power, 5% 1jul2042, USD
0.10%
Frequently asked questions about VTEB and VTEL
How have the VTEB and VTEL ETFs performed in 2026?
As of September 9, 2026, VTEB is down -0.9% year-to-date (YTD), while VTEL has lost -1.41%. That puts VTEB better performer ahead so far this year.
Which ETF is attracting more investor money: VTEB or VTEL?
Year-to-date, the VTEB ETF saw +$4.85B in flows, compared to +$211M for VTEL.
Which ETF is more volatile: VTEB or VTEL?
Over the past year, VTEB had a volatility of 2.46%, while VTEL experienced 3.19%.
Which ETF is bigger: VTEB or VTEL?
As of September 9, 2026, VTEB holds $45.94 B in assets under management (AUM), while VTEL manages $375.24 M.
What sectors do the VTEB and VTEL ETFs invest in?
VTEB leans toward sectors like Municipal. Meanwhile, VTEL focuses on Municipal.
What are the top holdings of the VTEB ETF and VTEL 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). VTEL holds in its top three: California, 5% 1aug2050, USD, Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A) and US64972JN619.
Which ETF is more diversified: VTEB or VTEL?
VTEB holds 10658 securities with 1.34% of its assets in the top 15. VTEL has 4397 securities and a top 15 weight of 1.86%.
Latest news about VTEB & VTEL
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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