VTECvsTAFLETF Comparison
VS
Vanguard California Tax-Exempt Bond ETF (VTEC) and AB Tax-Aware Long Municipal ETF (TAFL) 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 0.28% for TAFL. VTEC is down -1.7% year-to-date (YTD) with +$1.73B in YTD flows. TAFL performs better with -0.85% YTD performance, and +$21M in YTD flows. Run a side-by-side ETF comparison of VTEC and TAFL 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 TAFL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEC TAFL | -2.45%-2.71% | -2.89%-2.89% | -1.70%-0.85% | -0.19%+0.79% | n/an/a | n/an/a |
| Flows | VTEC TAFL | +$267M+$6M | +$770M+$11M | +$1.73B+$21M | +$2.16B+$39M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEC TAFL | +3.08%+3.65% | +2.44%+3.05% | n/an/a | n/an/a |
| Max drawdown | VTEC TAFL | -3.63%-4.16% | -3.70%-4.16% | n/an/a | n/an/a |
| Max drawdown duration | VTEC TAFL | 70d67d | 197d67d | n/an/a | n/an/a |
Trading data
VTEC | TAFL | |
Last sale 9/14/2026 at 1:30 PM | $96.39 | $24.01 |
| Previous close 09/14/2026 | $96.39 | $24.07 |
| Consolidated volume 09/14/2026 | ||
| 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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TAFL
is actively managed and doesn’t replicate an indexVTEC | TAFL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/14/2026 at 1:30 PM
Live
Closed
VTEC | TAFL | |
|---|---|---|
| Last price | $96.39 | $24.01 |
| 1D performance | +0.00% | -0.23% |
| AuM | $3.37 B | $66.25 M |
| E/R | 0.06% | 0.28% |
Characteristics
VTEC | TAFL | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Vanguard | AllianceBernstein |
| Benchmark | S&P California AMT-Free Municipal Bond Index | - |
| N° of holdings | 1775 | 64 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 30, 2024 | December 13, 2023 |
| ESG | No | No |
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Exposure
Countries
VTEC
USA
64.08%
Other
35.92%
TAFL
USA
63.23%
Other
36.77%
Sectors
VTEC
Municipal
64.08%
Other
35.92%
TAFL
Municipal
63.23%
Other
36.77%
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Diversification
VTEC
Total weight of top 15 holdings out of 15
3.64%
TAFL
Total weight of top 15 holdings out of 15
29.64%
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%
TAFL
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
2.68%
Chicago, 5.25% 1nov2061, USD (2026A)
2.60%
West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B)
2.23%
New York Dormitory Authority, 5% 15mar2055, USD (2025C)
2.07%
South Carolina Public Service Authority, 5.25% 1dec2054, USD (2024)
2.03%
US812643C776
1.97%
US494791UA28
1.84%
US59333P7M43
1.81%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.79%
Cuyahoga, 5.5% 1dec2061, USD (2026)
1.79%
Denver Airport System, 5% 15nov2036, USD (2022A)
1.78%
Massachusetts Development Finance Agency, 5.5% 1dec2056, USD
1.77%
US79766DTP41
1.76%
US576000E334
1.76%
Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C)
1.76%
Frequently asked questions about VTEC and TAFL
How have the VTEC and TAFL ETFs performed in 2026?
As of September 14, 2026, VTEC is down -1.7% year-to-date (YTD), while TAFL has lost -0.85%. That puts TAFL better performer ahead so far this year.
Which ETF is attracting more investor money: VTEC or TAFL?
Year-to-date, the VTEC ETF saw +$1.73B in flows, compared to +$21M for TAFL.
Which ETF is more volatile: VTEC or TAFL?
Over the past year, VTEC had a volatility of 2.44%, while TAFL experienced 3.05%.
Which ETF is bigger: VTEC or TAFL?
As of September 14, 2026, VTEC holds $3.37 B in assets under management (AUM), while TAFL manages $66.25 M.
What sectors do the VTEC and TAFL ETFs invest in?
VTEC leans toward sectors like Municipal. Meanwhile, TAFL focuses on Municipal.
What are the top holdings of the VTEC ETF and TAFL 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). TAFL holds in its top three: Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025), Chicago, 5.25% 1nov2061, USD (2026A) and West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B).
Which ETF is more diversified: VTEC or TAFL?
VTEC holds 3925 securities with 3.64% of its assets in the top 15. TAFL has 119 securities and a top 15 weight of 29.64%.
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