VTECvsVTEBETF Comparison
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Vanguard California Tax-Exempt Bond ETF (VTEC) and Vanguard Tax-Exempt Bond Index ETF (VTEB) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. VTEC is more expensive with a Total Expense Ratio (TER) of 0.06%, versus 0.03% for VTEB. VTEC is down -0.96% year-to-date (YTD) with +$2.67B in YTD flows. VTEB performs better with -0.63% YTD performance, and +$11.68B in YTD flows. Run a side-by-side ETF comparison of VTEC and VTEB 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 VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEC VTEB | +3.94%+4.14% | -1.30%-1.24% | -0.96%-0.63% | -0.56%-0.35% | n/a+13.41% | n/a+2.86% |
| Flows | VTEC VTEB | +$801M+$4.55B | +$1.30B+$7.90B | +$2.67B+$11.68B | +$3.00B+$13.07B | -+$24.58B | -+$40.83B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEC VTEB | +5.02%+5.38% | +3.24%+3.44% | n/a+3.84% | n/a+3.84% |
| Max drawdown | VTEC VTEB | -5.64%-5.74% | -6.50%-6.63% | n/a-6.63% | n/a-12.41% |
| Max drawdown duration | VTEC VTEB | 77d77d | 242d115d | n/a115d | n/a1001d |
Trading data
VTEC | VTEB | |
Last sale 10/30/2026 at 5:56 PM | $97.07 | $48.90 |
| Previous close 10/29/2026 | $96.82 | $48.70 |
| Consolidated volume 10/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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VTEC | VTEB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/30/2026 at 5:56 PM
Live
Closed
VTEC | VTEB | |
|---|---|---|
| Last price | $97.07 | $48.90 |
| 1D performance | +0.26% | +0.41% |
| AuM | $4.34 B | $52.93 B |
| E/R | 0.06% | 0.03% |
Characteristics
VTEC | VTEB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | Vanguard |
| Benchmark | S&P California AMT-Free Municipal Bond Index | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | 1732 | 5265 |
| Asset class | Bonds | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 30, 2024 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
VTEC
USA
60.19%
Other
39.81%
VTEB
USA
52.81%
Other
47.19%
Sectors
VTEC
Municipal
60.19%
Other
39.81%
VTEB
Municipal
52.81%
Other
47.19%
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Diversification
VTEC
Total weight of top 15 holdings out of 15
3.77%
VTEB
Total weight of top 15 holdings out of 15
1.61%
Top 15 holdings
Data as of September 30, 2026
VTEC
University of California, 5% 15may2036, USD (2025)
0.50%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.37%
Bay Area Toll Authority, 5% 1apr2061, USD (2026)
0.28%
US91412HWB58
0.25%
San Diego Public Facilities Financing Authority, 5.25% 15oct2055, USD (2025A)
0.24%
US544525Y931
0.23%
California, 5.25% 1oct2051, USD
0.23%
US88035JSP83
0.23%
US13048TGT43
0.22%
University of California, 5% 15may2032, USD (2022)
0.22%
US672325R587
0.21%
US544647HQ66
0.21%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.20%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.20%
US13063EUR51
0.20%
VTEB
US13063EUN48
0.15%
US13063EUP95
0.14%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.13%
Illinois, 5% 1nov2028, USD (2017D)
0.12%
Ohio State University, 5% 1jun2035, USD (2026)
0.12%
City of New York, 5% 1aug2034, USD (2026)
0.10%
US97705M2B09
0.10%
Wisconsin, 5% 1may2038, USD (2026)
0.10%
University of California, 5% 15may2036, USD (2025)
0.10%
Illinois Toll Highway Authority, 5% 1jan2045, USD
0.10%
Idaho, 4% 30jun2027, USD (2026)
0.10%
US902562ES27
0.09%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.09%
California, 5.25% 1aug2032, USD
0.09%
US88283LLJ34
0.09%
Frequently asked questions about VTEC and VTEB
How have the VTEC and VTEB ETFs performed in 2026?
As of October 29, 2026, VTEC is down -0.96% year-to-date (YTD), while VTEB has lost -0.63%. That puts VTEB better performer ahead so far this year.
Which ETF is attracting more investor money: VTEC or VTEB?
Year-to-date, the VTEC ETF saw +$2.67B in flows, compared to +$11.68B for VTEB.
Which ETF is more volatile: VTEC or VTEB?
Over the past year, VTEC had a volatility of 3.24%, while VTEB experienced 3.44%.
Which ETF is bigger: VTEC or VTEB?
As of October 29, 2026, VTEC holds $4.34 B in assets under management (AUM), while VTEB manages $52.93 B.
What sectors do the VTEC and VTEB ETFs invest in?
VTEC leans toward sectors like Municipal. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the VTEC ETF and VTEB ETF?
VTEC top holdings include University of California, 5% 15may2036, USD (2025), Los Angeles Unified School District, 5% 1jul2034, USD (2024A) and Bay Area Toll Authority, 5% 1apr2061, USD (2026). VTEB holds in its top three: US13063EUN48, US13063EUP95 and New York Dormitory Authority, 5.5% 1jul2054, USD (2024A).
Which ETF is more diversified: VTEC or VTEB?
VTEC holds 3944 securities with 3.77% of its assets in the top 15. VTEB has 11154 securities and a top 15 weight of 1.61%.
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Latest news about VTEC & VTEB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
VTEB
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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