VTECvsBSMTETF Comparison
VS
Vanguard California Tax-Exempt Bond ETF (VTEC) and Invesco BulletShares 2029 Municipal Bond ETF (BSMT) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. VTEC is less expensive with a Total Expense Ratio (TER) of 0.06%, versus 0.18% for BSMT. VTEC is down -1.98% year-to-date (YTD) with +$1.74B in YTD flows. BSMT performs better with -1.87% YTD performance, and +$60M in YTD flows. Run a side-by-side ETF comparison of VTEC and BSMT 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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VTEC vs BSMT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEC BSMT | -2.51%-1.45% | -3.16%-1.73% | -1.98%-1.87% | -0.47%-1.25% | n/a+7.15% | n/a-4.70% |
| Flows | VTEC BSMT | +$261M+$9M | +$782M+$16M | +$1.74B+$60M | +$2.17B+$88M | -+$246M | -+$280M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEC BSMT | +3.09%+1.73% | +2.46%+1.46% | n/a+2.82% | n/a+3.40% |
| Max drawdown | VTEC BSMT | -3.74%-1.98% | -3.81%-2.96% | n/a-3.52% | n/a-16.14% |
| Max drawdown duration | VTEC BSMT | 71d71d | 198d205d | n/a156d | n/a1716d |
Trading data
VTEC | BSMT | |
Last sale 9/15/2026 at 1:30 PM | $96.05 | $22.57 |
| Previous close 09/15/2026 | $96.39 | $22.59 |
| Consolidated volume 09/15/2026 | ||
| 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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VTEC | BSMT | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/15/2026 at 1:30 PM
Live
Closed
VTEC | BSMT | |
|---|---|---|
| Last price | $96.05 | $22.57 |
| 1D performance | -0.35% | -0.10% |
| AuM | $3.37 B | $289.37 M |
| E/R | 0.06% | 0.18% |
Characteristics
VTEC | BSMT | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | Invesco |
| Benchmark | S&P California AMT-Free Municipal Bond Index | Invesco BulletShares USD Municipal Bond 2029 Index |
| N° of holdings | 1775 | 1061 |
| Asset class | Bonds | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 30, 2024 | September 13, 2019 |
| ESG | No | No |
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Exposure
Countries
VTEC
USA
64.08%
Other
35.92%
BSMT
USA
64.48%
Other
35.52%
Sectors
VTEC
Municipal
64.08%
Other
35.92%
BSMT
Municipal
64.48%
Other
35.52%
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Diversification
VTEC
Total weight of top 15 holdings out of 15
3.64%
BSMT
Total weight of top 15 holdings out of 15
5.22%
Top 15 holdings
Data as of July 31, 2026
VTEC
University of California, 5% 15may2036, USD (2025)
0.48%
Bay Area Toll Authority, 5% 1apr2061, USD (2026)
0.34%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.25%
US544647HQ66
0.25%
US91412HWB58
0.24%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.24%
University of California, 5% 15may2032, USD (2022)
0.22%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.22%
Los Angeles Department of Water and Power, 5% 1jul2028, USD (2025)
0.22%
San Diego Community College District, 5% 1aug2031, USD
0.21%
US544647HM52
0.20%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.19%
California Educational Facilities Authority, 5% 1may2049, USD
0.19%
California, 5.25% 1aug2032, USD
0.19%
RIR Floater Trust, FRN 1aug2042, USD (2022-045)
0.19%
BSMT
Triborough Bridge and Tunnel Authority, 5% 1feb2029, USD (2026A2)
0.52%
New Jersey, 5% 1jun2029, USD
0.50%
US89602HJB42
0.48%
US43233KAG94
0.39%
US19648FXR09
0.34%
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
0.32%
Nashville and Davidson Health and Educational Facilities, 5% 1jul2029, USD (2024A)
0.32%
US544647HL79
0.32%
US13034A5B23
0.32%
New Jersey Turnpike Authority, 5% 1jan2048, USD
0.31%
Lancaster Hospital Authority, 5% 1nov2051, USD (2021)
0.29%
Pennsylvania Turnpike Commission, 5% 1dec2044, USD
0.29%
US91412HTF00
0.28%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.28%
Illinois Toll Highway Authority, 5% 1jan2044, USD
0.26%
Frequently asked questions about VTEC and BSMT
How have the VTEC and BSMT ETFs performed in 2026?
As of September 15, 2026, VTEC is down -1.98% year-to-date (YTD), while BSMT has lost -1.87%. That puts BSMT better performer ahead so far this year.
Which ETF is attracting more investor money: VTEC or BSMT?
Year-to-date, the VTEC ETF saw +$1.74B in flows, compared to +$60M for BSMT.
Which ETF is more volatile: VTEC or BSMT?
Over the past year, VTEC had a volatility of 2.46%, while BSMT experienced 1.46%.
Which ETF is bigger: VTEC or BSMT?
As of September 15, 2026, VTEC holds $3.37 B in assets under management (AUM), while BSMT manages $289.37 M.
What sectors do the VTEC and BSMT ETFs invest in?
VTEC leans toward sectors like Municipal. Meanwhile, BSMT focuses on Municipal.
What are the top holdings of the VTEC ETF and BSMT ETF?
VTEC top holdings include University of California, 5% 15may2036, USD (2025), Bay Area Toll Authority, 5% 1apr2061, USD (2026) and Los Angeles Unified School District, 5% 1jul2034, USD (2024A). BSMT holds in its top three: Triborough Bridge and Tunnel Authority, 5% 1feb2029, USD (2026A2), New Jersey, 5% 1jun2029, USD and US89602HJB42.
Which ETF is more diversified: VTEC or BSMT?
VTEC holds 3925 securities with 3.64% of its assets in the top 15. BSMT has 1917 securities and a top 15 weight of 5.22%.
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