VTEIvsVTESETF Comparison
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Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) and Vanguard Short-Term Tax-Exempt Bond ETF (VTES) 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 0.05% for VTES. VTEI is down -1.76% year-to-date (YTD) with +$1.03B in YTD flows. VTES performs better with 0.05% YTD performance, and +$2.52B in YTD flows. Run a side-by-side ETF comparison of VTEI and VTES 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 VTES performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/19/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEI VTES | +0.16%+0.30% | -2.55%-0.67% | -1.76%+0.05% | -1.11%+0.54% | n/a+10.08% | n/an/a |
| Flows | VTEI VTES | +$518M+$914M | +$654M+$1.95B | +$1.03B+$2.52B | +$1.19B+$2.68B | -+$3.87B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEI VTES | +4.58%+2.62% | +2.84%+1.59% | n/a+1.59% | n/an/a |
| Max drawdown | VTEI VTES | -5.00%-2.66% | -6.13%-2.95% | n/a-2.95% | n/an/a |
| Max drawdown duration | VTEI VTES | 91d67d | 232d235d | n/a235d | n/an/a |
Trading data
VTEI | VTES | |
Last sale 10/20/2026 at 1:32 PM | $96.89 | $99.62 |
| Previous close 10/19/2026 | $96.72 | $99.51 |
| Consolidated volume 10/19/2026 | ||
| 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 | VTES | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/20/2026 at 1:32 PM
Live
Closed
VTEI | VTES | |
|---|---|---|
| Last price | $96.89 | $99.62 |
| 1D performance | +0.18% | +0.11% |
| AuM | $2.11 B | $4.09 B |
| E/R | 0.08% | 0.05% |
Characteristics
VTEI | VTES | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | Vanguard |
| Benchmark | S&P Intermediate Term National AMT-Free Municipal Bond Index | S&P 0-7 Year National AMT-Free Municipal Bond Index |
| N° of holdings | 2950 | 1671 |
| Asset class | Fixed Income | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 30, 2024 | March 9, 2023 |
| ESG | No | No |
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Exposure
Countries
VTEI
USA
53.74%
Other
46.26%
VTES
USA
52.32%
Other
47.68%
Sectors
VTEI
Municipal
53.74%
Other
46.26%
VTES
Municipal
52.32%
Other
47.68%
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Diversification
VTEI
Total weight of top 15 holdings out of 15
2.61%
VTES
Total weight of top 15 holdings out of 15
5.61%
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%
VTES
US13063EUN48
0.91%
US13063EUM64
0.86%
US13063EUP95
0.78%
US13063EUU80
0.42%
North Colonie Central School District, 3.75% 25jun2027, USD (2026)
0.40%
US13063EUQ78
0.38%
US13063EUS35
0.30%
Illinois, 5% 1nov2028, USD (2017D)
0.22%
US64972JQM35
0.21%
US13063ENN21
0.19%
Illinois, 5% 1nov2027, USD (2017D)
0.19%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.19%
New Jersey, 5% 1jun2029, USD
0.19%
Pennsylvania Public School Building Authority, 5% 1jun2033, USD (2016A)
0.18%
New Jersey Economic Development Authority, 5% 15jun2042, USD
0.18%
Frequently asked questions about VTEI and VTES
How have the VTEI and VTES ETFs performed in 2026?
As of October 19, 2026, VTEI is down -1.76% year-to-date (YTD), while VTES has returned 0.05%. That puts VTES better performer ahead so far this year.
Which ETF is attracting more investor money: VTEI or VTES?
Year-to-date, the VTEI ETF saw +$1.03B in flows, compared to +$2.52B for VTES.
Which ETF is more volatile: VTEI or VTES?
Over the past year, VTEI had a volatility of 2.84%, while VTES experienced 1.59%.
Which ETF is bigger: VTEI or VTES?
As of October 19, 2026, VTEI holds $2.11 B in assets under management (AUM), while VTES manages $4.09 B.
What sectors do the VTEI and VTES ETFs invest in?
VTEI leans toward sectors like Municipal. Meanwhile, VTES focuses on Municipal.
What are the top holdings of the VTEI ETF and VTES ETF?
VTEI top holdings include US13063EUS35, US13063EUP95 and California, 5% 1mar2035, USD. VTES holds in its top three: US13063EUN48, US13063EUM64 and US13063EUP95.
Which ETF is more diversified: VTEI or VTES?
VTEI holds 6052 securities with 2.61% of its assets in the top 15. VTES has 3442 securities and a top 15 weight of 5.61%.
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Latest news about VTEI & VTES
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