VTELvsVTEBETF Comparison
VS
Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) 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. VTEL is more expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.03% for VTEB. VTEL is down -0.84% year-to-date (YTD) with +$196M in YTD flows. VTEB performs better with -0.43% YTD performance, and +$4.61B in YTD flows. Run a side-by-side ETF comparison of VTEL 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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VTEL vs VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEL VTEB | -1.34%-0.82% | -2.78%-1.88% | -0.84%-0.43% | +4.93%+3.69% | n/a+9.33% | n/a+2.25% |
| Flows | VTEL VTEB | +$43M+$789M | +$92M+$2.39B | +$196M+$4.61B | +$296M+$7.53B | -+$18.18B | -+$34.09B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEL VTEB | +3.48%+2.64% | +3.33%+2.55% | n/a+3.71% | n/a+3.67% |
| Max drawdown | VTEL VTEB | -3.66%-2.57% | -3.66%-2.65% | n/a-5.41% | n/a-12.41% |
| Max drawdown duration | VTEL VTEB | 58d58d | 58d117d | n/a275d | n/a1001d |
Trading data
VTEL | VTEB | |
Last sale 9/3/2026 at 4:09 PM | $100.20 | $48.97 |
| Previous close 09/02/2026 | $100.02 | $48.95 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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VTEL | 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 9/3/2026 at 4:09 PM
Live
Closed
VTEL | VTEB | |
|---|---|---|
| Last price | $100.20 | $48.97 |
| 1D performance | +0.18% | +0.04% |
| AuM | $362.39 M | $45.92 B |
| E/R | 0.09% | 0.03% |
Characteristics
VTEL | VTEB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | Vanguard |
| Benchmark | S&P 10+ Year National AMT-Free Municipal Bond Index | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | 2271 | 5288 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 20, 2025 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
VTEL
USA
58.08%
Other
41.92%
VTEB
USA
57.45%
Other
42.55%
Sectors
VTEL
Municipal
58.08%
Other
41.92%
VTEB
Municipal
57.45%
Other
42.55%
Diversification
VTEL
Total weight of top 15 holdings out of 15
1.86%
VTEB
Total weight of top 15 holdings out of 15
1.34%
Top 15 holdings
Data as of July 31, 2026
VTEL
California, 5% 1aug2050, USD
0.16%
Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A)
0.15%
US64972JN619
0.15%
New York Municipal Water Finance Authority, 5.25% 15jun2053, USD (2025)
0.13%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.13%
US64972JDG04
0.13%
California, 5% 1aug2042, USD
0.12%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.12%
New Jersey Turnpike Authority, 5% 1jan2052, USD (2026)
0.12%
New York Urban Development Corp., 5% 15mar2043, USD (2020C)
0.11%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.11%
New York Metropolitan Transportation Authority, 4% 15nov2036, USD (2016B)
0.11%
Tampa-Hillsborough Expressway Authority, 5% 1jul2047, USD (2017)
0.11%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.10%
Los Angeles Department of Water and Power, 5% 1jul2042, USD
0.10%
VTEB
City of New York, 5% 1aug2034, USD (2026)
0.12%
University of California, 5% 15may2036, USD (2025)
0.11%
Idaho, 4% 30jun2027, USD (2026)
0.10%
California, 5.25% 1aug2032, USD
0.10%
US574193YA01
0.09%
US650028F737
0.09%
Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2026A)
0.09%
US650028F653
0.08%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.08%
US67766WV741
0.08%
Energy Northwest, 5% 1jul2034, USD (2026-A)
0.08%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.08%
US646140KX00
0.08%
New Jersey Turnpike Authority, 5% 1jan2032, USD (2025)
0.08%
Illinois, 5% 1nov2027, USD (2017D)
0.08%
Frequently asked questions about VTEL and VTEB
How have the VTEL and VTEB ETFs performed in 2026?
As of September 2, 2026, VTEL is down -0.84% year-to-date (YTD), while VTEB has lost -0.43%. That puts VTEB better performer ahead so far this year.
Which ETF is attracting more investor money: VTEL or VTEB?
Year-to-date, the VTEL ETF saw +$196M in flows, compared to +$4.61B for VTEB.
Which ETF is more volatile: VTEL or VTEB?
Over the past year, VTEL had a volatility of 3.33%, while VTEB experienced 2.55%.
Which ETF is bigger: VTEL or VTEB?
As of September 2, 2026, VTEL holds $362.39 M in assets under management (AUM), while VTEB manages $45.92 B.
What sectors do the VTEL and VTEB ETFs invest in?
VTEL leans toward sectors like Municipal. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the VTEL ETF and VTEB ETF?
VTEL top holdings include California, 5% 1aug2050, USD, Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A) and US64972JN619. VTEB holds in its top three: City of New York, 5% 1aug2034, USD (2026), University of California, 5% 15may2036, USD (2025) and Idaho, 4% 30jun2027, USD (2026).
Which ETF is more diversified: VTEL or VTEB?
VTEL holds 4397 securities with 1.86% of its assets in the top 15. VTEB has 10658 securities and a top 15 weight of 1.34%.
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Latest news about VTEL & 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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