VTELvsVTESETF Comparison
VS
Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) 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. VTEL is more expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.05% for VTES. VTEL is up 0.09% year-to-date (YTD) with +$191M in YTD flows. VTES performs better with 0.8% YTD performance, and +$802M in YTD flows. Run a side-by-side ETF comparison of VTEL 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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VTEL vs VTES performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEL VTES | -0.88%+0.31% | -1.32%+0.27% | +0.09%+0.80% | +5.79%+1.80% | n/a+9.82% | n/an/a |
| Flows | VTEL VTES | +$48M+$186M | +$87M+$429M | +$191M+$802M | +$294M+$1.09B | -+$2.20B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEL VTES | +3.31%+1.07% | +3.26%+1.09% | n/a+1.47% | n/an/a |
| Max drawdown | VTEL VTES | -2.75%-0.77% | -3.08%-1.38% | n/a-1.81% | n/an/a |
| Max drawdown duration | VTEL VTES | 53d53d | 108d183d | n/a59d | n/an/a |
Trading data
VTEL | VTES | |
Last sale 8/31/2026 at 1:30 PM | $101.07 | $100.74 |
| Previous close 08/28/2026 | $101.26 | $100.77 |
| Consolidated volume 08/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of July 31, 2026
1-year trailing difference
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VTEL | 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 8/31/2026 at 1:30 PM
Live
Closed
VTEL | VTES | |
|---|---|---|
| Last price | $101.07 | $100.74 |
| 1D performance | -0.19% | -0.03% |
| AuM | $361.90 M | $2.39 B |
| E/R | 0.09% | 0.05% |
Characteristics
VTEL | VTES | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | Vanguard |
| Benchmark | S&P 10+ Year National AMT-Free Municipal Bond Index | S&P 0-7 Year National AMT-Free Municipal Bond Index |
| N° of holdings | 2271 | 1686 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 20, 2025 | March 9, 2023 |
| ESG | No | No |
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Exposure
Countries
VTEL
USA
58.08%
Other
41.92%
VTES
USA
59.38%
Other
40.62%
Sectors
VTEL
Municipal
58.08%
Other
41.92%
VTES
Municipal
59.38%
Other
40.62%
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Diversification
VTEL
Total weight of top 15 holdings out of 15
1.86%
VTES
Total weight of top 15 holdings out of 15
3.27%
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%
VTES
North Colonie Central School District, 3.75% 25jun2027, USD (2026)
0.46%
US64972JQM35
0.25%
US13063ENN21
0.22%
Illinois, 5% 1nov2027, USD (2017D)
0.22%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.21%
New Jersey Economic Development Authority, 5% 15jun2042, USD
0.21%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.21%
New Jersey, 5% 1jun2029, USD
0.20%
New Jersey, 5% 1jun2028, USD
0.20%
New Jersey Transportation Trust Fund Authority, 5% 15jun2028, USD
0.20%
California, 5.25% 1aug2032, USD
0.18%
Wyandotte Unified School District №500, 5.25% 1sep2042, USD (2016-A)
0.18%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.18%
New Jersey, 4% 1jun2030, USD
0.17%
US544647HQ66
0.17%
Frequently asked questions about VTEL and VTES
How have the VTEL and VTES ETFs performed in 2026?
As of August 28, 2026, VTEL is up 0.09% year-to-date (YTD), while VTES has returned 0.8%. That puts VTES better performer ahead so far this year.
Which ETF is attracting more investor money: VTEL or VTES?
Year-to-date, the VTEL ETF saw +$191M in flows, compared to +$802M for VTES.
Which ETF is more volatile: VTEL or VTES?
Over the past year, VTEL had a volatility of 3.26%, while VTES experienced 1.09%.
Which ETF is bigger: VTEL or VTES?
As of August 28, 2026, VTEL holds $361.90 M in assets under management (AUM), while VTES manages $2.39 B.
What sectors do the VTEL and VTES ETFs invest in?
VTEL leans toward sectors like Municipal. Meanwhile, VTES focuses on Municipal.
What are the top holdings of the VTEL ETF and VTES ETF?
VTEL top holdings include California, 5% 1aug2050, USD, Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A) and US64972JN619. VTES holds in its top three: North Colonie Central School District, 3.75% 25jun2027, USD (2026), US64972JQM35 and US13063ENN21.
Which ETF is more diversified: VTEL or VTES?
VTEL holds 4397 securities with 1.86% of its assets in the top 15. VTES has 3414 securities and a top 15 weight of 3.27%.
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Latest news about VTEL & VTES
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