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 3 sector exposures: and Municipal. VTEI is more expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.03% for VTEB. VTEI is up 0.65% year-to-date (YTD) with +$203M in YTD flows. VTEB performs better with 0.82% YTD performance, and -$107M 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 04/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEI VTEB | -0.48%-0.17% | +0.05%+0.26% | +0.65%+0.82% | +7.02%+7.37% | n/a+8.51% | n/a+4.88% |
| Flows | VTEI VTEB | +$38M+$1.22B | +$195M-$331M | +$203M-$107M | +$884M+$5.83B | -+$15.79B | -+$31.56B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEI VTEB | +2.55%+2.96% | +2.81%+3.60% | n/a+3.75% | n/a+3.61% |
| Max drawdown | VTEI VTEB | -2.55%-2.65% | -2.55%-2.65% | n/a-5.88% | n/a-12.68% |
| Max drawdown duration | VTEI VTEB | 38d38d | 38d38d | n/a231d | n/a1231d |
Trading data
VTEI | VTEB | |
Last sale 4/9/2026 at 3:13 PM | $100.49 | $50.21 |
| Previous close 04/08/2026 | $100.48 | $50.13 |
| Consolidated volume 04/08/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 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 4/9/2026 at 3:13 PM
Live
Closed
VTEI | VTEB | |
|---|---|---|
| Last price | $100.49 | $50.21 |
| 1D performance | +0.01% | +0.15% |
| AuM | $1.34 B | $42.42 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 | 2171 | 3771 |
| 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
97.91%
Other
2.09%
VTEB
USA
99.37%
Other
0.63%
Sectors
VTEI
Municipal
40.47%
Other
59.53%
VTEB
Municipal
36.79%
Other
63.21%
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Diversification
VTEI
Total weight of top 15 holdings out of 15
2.32%
VTEB
Total weight of top 15 holdings out of 15
1.45%
Top 15 holdings
Data as of February 28, 2026
VTEI
US072024L346
0.28%
US91412HWH29
0.18%
US646067KD94
0.18%
US207758XK46
0.17%
US442403RT05
0.15%
Wisconsin, 5% 1may2026, USD
0.15%
US64972JB499
0.14%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.14%
US57582TDE91
0.14%
New Jersey Transportation Trust Fund Authority, 0% 15dec2032, USD (2006C, 9694D)
0.13%
New York Municipal Water Finance Authority, 5% 15jun2037, USD
0.13%
US64990AWG65
0.13%
US67766WV741
0.13%
New York Dormitory Authority, 5% 15mar2026, USD (2022A)
0.13%
US836895FT49
0.13%
VTEB
US89602HJC25
0.12%
California, 5.25% 1aug2032, USD
0.11%
US836895FT49
0.11%
US19672MDH88
0.11%
US46640K3M42
0.11%
US91412HWH29
0.10%
US64972JJQ22
0.09%
US235308Y233
0.09%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.09%
US64972JJU34
0.09%
US677632T926
0.09%
US64972JZB78
0.08%
US79574CGL19
0.08%
Illinois, 5% 1nov2029, USD (2017C)
0.08%
US74448XCP50
0.08%
Frequently asked questions about VTEI and VTEB
How have the VTEI and VTEB ETFs performed in 2026?
As of April 8, 2026, VTEI is up 0.65% year-to-date (YTD), while VTEB has returned 0.82%. That puts VTEB better performer ahead so far this year.
Which ETF is attracting more investor money: VTEI or VTEB?
Year-to-date, the VTEI ETF saw +$203M in flows, compared to -$107M for VTEB.
Which ETF is more volatile: VTEI or VTEB?
Over the past year, VTEI had a volatility of 2.81%, while VTEB experienced 3.6%.
Which ETF is bigger: VTEI or VTEB?
As of April 8, 2026, VTEI holds $1.34 B in assets under management (AUM), while VTEB manages $42.42 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 US072024L346, US91412HWH29 and US646067KD94. VTEB holds in its top three: US89602HJC25, California, 5.25% 1aug2032, USD and US836895FT49.
Which ETF is more diversified: VTEI or VTEB?
VTEI holds 5259 securities with 2.32% of its assets in the top 15. VTEB has 9769 securities and a top 15 weight of 1.45%.
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Latest news about VTEI & 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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