VTELvsCMFETF Comparison
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Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and iShares California Muni Bond ETF (CMF) belong to the same industry segment: Municipal Bonds. VTEL's top 1 sector exposures are Municipal. In contrast, CMF's top sector exposures are Municipal and Non-Corporate. VTEL is more expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.08% for CMF. VTEL is down -2.99% year-to-date (YTD) with +$320M in YTD flows. CMF performs better with -2.36% YTD performance, and +$1.60B in YTD flows. Run a side-by-side ETF comparison of VTEL and CMF 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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VTEL vs CMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEL CMF | -0.39%-0.25% | -4.81%-3.34% | -2.99%-2.36% | -2.48%-1.71% | n/a+9.17% | n/a+0.25% |
| Flows | VTEL CMF | +$84M+$660M | +$203M+$801M | +$320M+$1.60B | +$387M+$1.96B | -+$3.16B | -+$3.62B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEL CMF | +6.79%+4.84% | +4.27%+3.08% | n/a+3.57% | n/a+3.58% |
| Max drawdown | VTEL CMF | -7.63%-5.69% | -8.55%-6.52% | n/a-6.52% | n/a-12.25% |
| Max drawdown duration | VTEL CMF | 92d92d | 102d229d | n/a229d | n/a1346d |
Trading data
VTEL | CMF | |
Last sale 10/16/2026 at 1:30 PM | $97.32 | $54.82 |
| Previous close 10/15/2026 | $97.49 | $54.79 |
| Consolidated volume 10/15/2026 | ||
| 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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VTEL | CMF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
VTEL | CMF | |
|---|---|---|
| Last price | $97.32 | $54.82 |
| 1D performance | -0.17% | +0.05% |
| AuM | $477.65 M | $5.19 B |
| E/R | 0.09% | 0.08% |
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Exposure
Countries
VTEL
USA
56.27%
Other
43.73%
CMF
USA
59.23%
Other
40.77%
Sectors
VTEL
Municipal
56.27%
Other
43.73%
CMF
Municipal
59.23%
Other
40.77%
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Diversification
VTEL
Total weight of top 15 holdings out of 15
1.79%
CMF
Total weight of top 15 holdings out of 15
6.39%
Top 15 holdings
Data as of August 31, 2026
VTEL
US13063EVD56
0.17%
US13063EUG96
0.16%
California, 5% 1aug2050, USD
0.14%
Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A)
0.13%
County of Jefferson (AL), 5.5% 1oct2053, USD (2024)
0.13%
US64972JN619
0.13%
New York Municipal Water Finance Authority, 5.25% 15jun2053, USD (2025)
0.12%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.11%
US64972JDG04
0.11%
California, 5% 1aug2042, USD
0.11%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.10%
New Jersey Turnpike Authority, 5% 1jan2052, USD (2026)
0.10%
New York Urban Development Corp., 5% 15mar2043, USD (2020C)
0.10%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.10%
New York Metropolitan Transportation Authority, 4% 15nov2036, USD (2016B)
0.10%
CMF
Orange Water District, FRN 1aug2042, USD (2003A)
0.60%
US79766DLC10
0.52%
US032556NJ70
0.49%
Los Angeles Unified School District, 5% 1jul2031, USD (2024)
0.47%
University of California, 5.5% 15may2040, USD
0.46%
California Educational Facilities Authority, 5% 1may2045, USD
0.44%
US4636324Q95
0.44%
US79905CAB90
0.42%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.41%
US13077DUT70
0.40%
University of California, 5% 15may2036, USD (2025)
0.39%
California, 5% 1mar2055, USD
0.37%
California, 5.25% 1aug2032, USD
0.34%
US91412GSH91
0.32%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.32%
Frequently asked questions about VTEL and CMF
How have the VTEL and CMF ETFs performed in 2026?
As of October 16, 2026, VTEL is down -2.99% year-to-date (YTD), while CMF has lost -2.36%. That puts CMF better performer ahead so far this year.
Which ETF is attracting more investor money: VTEL or CMF?
Year-to-date, the VTEL ETF saw +$320M in flows, compared to +$1.60B for CMF.
Which ETF is more volatile: VTEL or CMF?
Over the past year, VTEL had a volatility of 4.27%, while CMF experienced 3.08%.
Which ETF is bigger: VTEL or CMF?
As of October 16, 2026, VTEL holds $477.65 M in assets under management (AUM), while CMF manages $5.19 B.
What sectors do the VTEL and CMF ETFs invest in?
VTEL leans toward sectors like Municipal. Meanwhile, CMF focuses on Municipal.
What are the top holdings of the VTEL ETF and CMF ETF?
VTEL top holdings include US13063EVD56, US13063EUG96 and California, 5% 1aug2050, USD. CMF holds in its top three: Orange Water District, FRN 1aug2042, USD (2003A), US79766DLC10 and US032556NJ70.
Which ETF is more diversified: VTEL or CMF?
VTEL holds 4654 securities with 1.79% of its assets in the top 15. CMF has 1670 securities and a top 15 weight of 6.39%.
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Latest news about VTEL & CMF
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