VTEIvsVTEBETF Comparison
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Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) 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. VTEI is more expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.03% for VTEB. VTEI is down -2.41% year-to-date (YTD) with +$892M in YTD flows. VTEB performs worse with -2.86% YTD performance, and +$11.50B in YTD flows. Run a side-by-side ETF comparison of VTEI 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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VTEI vs VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEI VTEB | -0.86%-1.35% | -3.55%-4.49% | -2.41%-2.86% | -1.42%-2.00% | n/a+9.41% | n/a+0.46% |
| Flows | VTEI VTEB | +$394M+$6.86B | +$521M+$8.32B | +$892M+$11.50B | +$1.06B+$13.60B | -+$25.23B | -+$40.60B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEI VTEB | +4.32%+4.99% | +2.76%+3.23% | n/a+3.82% | n/a+3.80% |
| Max drawdown | VTEI VTEB | -5.36%-6.18% | -6.13%-6.63% | n/a-6.63% | n/a-12.41% |
| Max drawdown duration | VTEI VTEB | 92d92d | 227d100d | n/a100d | n/a1001d |
Trading data
VTEI | VTEB | |
Last sale 10/15/2026 at 1:30 PM | $96.79 | $47.96 |
| Previous close 10/14/2026 | $96.05 | $47.61 |
| Consolidated volume 10/14/2026 | ||
| 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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VTEI | 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 10/15/2026 at 1:30 PM
Live
Closed
VTEI | VTEB | |
|---|---|---|
| Last price | $96.79 | $47.96 |
| 1D performance | +0.77% | +0.74% |
| AuM | $1.96 B | $51.57 B |
| E/R | 0.08% | 0.03% |
Characteristics
VTEI | VTEB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | Vanguard |
| Benchmark | S&P Intermediate Term National AMT-Free Municipal Bond Index | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | 2950 | 5200 |
| Asset class | Fixed Income | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 30, 2024 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
VTEI
USA
53.74%
Other
46.26%
VTEB
USA
55.18%
Other
44.82%
Sectors
VTEI
Municipal
53.74%
Other
46.26%
VTEB
Municipal
55.18%
Other
44.82%
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Diversification
VTEI
Total weight of top 15 holdings out of 15
2.61%
VTEB
Total weight of top 15 holdings out of 15
1.57%
Top 15 holdings
Data as of August 31, 2026
VTEI
US13063EUS35
0.51%
US13063EUP95
0.40%
California, 5% 1mar2035, USD
0.15%
California, 5% 1oct2035, USD
0.15%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.14%
US13063EUV63
0.14%
University of California, 5% 15may2036, USD (2025)
0.13%
Idaho, 4% 30jun2027, USD (2026)
0.13%
US442403RT05
0.12%
New York Transitional Finance Authority, 5% 1nov2030, USD (2026)
0.12%
San Francisco Public Utilities Commission, 1% 1oct2026, USD (2021)
0.12%
Hudson Yards Infrastructure Corp., 5% 15feb2039, USD
0.12%
New York Dormitory Authority, 5% 15mar2033, USD (2026A)
0.12%
New York Dormitory Authority, 5% 15mar2035, USD (2026A)
0.12%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.12%
VTEB
US13063EUN48
0.16%
US13063EUP95
0.15%
City of New York, 5% 1aug2034, USD (2026)
0.12%
University of California, 5% 15may2036, USD (2025)
0.11%
US68608JXF38
0.10%
Idaho, 4% 30jun2027, USD (2026)
0.10%
US87638QBF54
0.10%
California, 5.25% 1aug2032, USD
0.10%
US646140KX00
0.10%
New Jersey Health Care Facilities Financing Authority, 1.9% 1jul2061, USD (2026B-1)
0.10%
City of New York, 5% 1aug2032, USD (2026)
0.09%
US574193YA01
0.09%
Wisconsin, 5% 1may2038, USD (2026)
0.09%
Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2026A)
0.08%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.08%
Frequently asked questions about VTEI and VTEB
How have the VTEI and VTEB ETFs performed in 2026?
As of October 14, 2026, VTEI is down -2.41% year-to-date (YTD), while VTEB has lost -2.86%. That puts VTEI better performer ahead so far this year.
Which ETF is attracting more investor money: VTEI or VTEB?
Year-to-date, the VTEI ETF saw +$892M in flows, compared to +$11.50B for VTEB.
Which ETF is more volatile: VTEI or VTEB?
Over the past year, VTEI had a volatility of 2.76%, while VTEB experienced 3.23%.
Which ETF is bigger: VTEI or VTEB?
As of October 14, 2026, VTEI holds $1.96 B in assets under management (AUM), while VTEB manages $51.57 B.
What sectors do the VTEI and VTEB ETFs invest in?
VTEI leans toward sectors like Municipal. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the VTEI ETF and VTEB ETF?
VTEI top holdings include US13063EUS35, US13063EUP95 and California, 5% 1mar2035, USD. VTEB holds in its top three: US13063EUN48, US13063EUP95 and City of New York, 5% 1aug2034, USD (2026).
Which ETF is more diversified: VTEI or VTEB?
VTEI holds 6052 securities with 2.61% of its assets in the top 15. VTEB has 10722 securities and a top 15 weight of 1.57%.
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Latest news about VTEI & 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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