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VTESvsBRTRETF Comparison

ETF 1

VTES

Vanguard Short-Term Tax-Exempt Bond ETF

This fund is part of

Municipal Bonds

-0.03%

Full VTES fund page

VS

ETF 2

BRTR

iShares Total Return Active ETF

This fund is part of

US Aggregate Bonds

+0.06%

Full BRTR fund page

Vanguard Short-Term Tax-Exempt Bond ETF (VTES) belongs to the Municipal Bonds segment. iShares Total Return Active ETF (BRTR) is part of the US Aggregate Bonds segment. VTES's top 1 sector exposures are Municipal. In contrast, BRTR's top sector exposures are Sovereign, Industrials and Non-Corporate. VTES is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.41% for BRTR. VTES is up 0.59% year-to-date (YTD) with +$845M in YTD flows. BRTR performs worse with -0.34% YTD performance, and +$283M in YTD flows. Run a side-by-side ETF comparison of VTES and BRTR 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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VTES vs BRTR performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 09/02/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	VTES BRTR	+0.10%-0.03%	-0.11%-0.89%	+0.59%-0.34%	+1.59%+2.26%	+9.43%n/a	n/an/a
Flows	VTES BRTR	+$214M+$39M	+$446M+$87M	+$845M+$283M	+$1.13B+$532M	+$2.24B-	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	VTES BRTR	+1.12%+3.91%	+1.11%+3.78%	+1.48%n/a	n/an/a
Max drawdown	VTES BRTR	-0.77%-1.79%	-1.38%-3.04%	-1.81%n/a	n/an/a
Max drawdown duration	VTES BRTR	58d65d	188d185d	59dn/a	n/an/a

Trading data

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	VTES	BRTR
Last sale 9/2/2026 at 1:30 PM	$100.35	$49.05
Previous close 09/02/2026	$100.36	$49.04
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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BRTR

is actively managed and doesn’t replicate an index

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	VTES	BRTR
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 9/2/2026 at 1:30 PM

Live

Closed

	VTES	BRTR
Last price	$100.35	$49.05
1D performance	-0.00%	+0.02%
AuM	$2.42 B	$770.02 M
E/R	0.05%	0.41%

Characteristics

	VTES	BRTR
Management strategy	Passive	Active
Provider	Vanguard	iShares
Benchmark	S&P 0-7 Year National AMT-Free Municipal Bond Index	-
N° of holdings	1686	6534
Asset class	Fixed Income	-
Trailing 12m distribution yield	Join	Join
Inception date	March 9, 2023	December 12, 2023
ESG	No	No

More VTES data on Trackinsight

More BRTR data on Trackinsight

Exposure

Countries

VTES

USA

59.38%

Other

40.62%

BRTR

Data will be available soon

Sectors

VTES

Municipal

59.38%

Other

40.62%

BRTR

Data will be available soon

Diversification

VTES

Total weight of top 15 holdings out of 15

3.27%

BRTR

Data will be available soon

Top 15 holdings

Data as of July 31, 2026

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%

BRTR

Data will be available soon

Frequently asked questions about VTES and BRTR

How have the VTES and BRTR ETFs performed in 2026?

As of September 2, 2026, VTES is up 0.59% year-to-date (YTD), while BRTR has lost -0.34%. That puts VTES better performer ahead so far this year.

Which ETF is attracting more investor money: VTES or BRTR?

Year-to-date, the VTES ETF saw +$845M in flows, compared to +$283M for BRTR.

Which ETF is more volatile: VTES or BRTR?

Over the past year, VTES had a volatility of 1.11%, while BRTR experienced 3.78%.

Which ETF is bigger: VTES or BRTR?

As of September 2, 2026, VTES holds $2.42 B in assets under management (AUM), while BRTR manages $770.02 M.

What sectors do the VTES and BRTR ETFs invest in?

VTES leans toward sectors like Municipal. Meanwhile, BRTR focuses on Sovereign and Industrials.

What are the top holdings of the VTES ETF and BRTR ETF?

VTES top holdings include North Colonie Central School District, 3.75% 25jun2027, USD (2026), US64972JQM35 and US13063ENN21. BRTR holds in its top three: US01F0526800, BlackRock Cash Funds - Institutional and USA, Bonds 4.75% 15nov2043, USD.

Which ETF is more diversified: VTES or BRTR?

VTES holds 3414 securities with 3.27% of its assets in the top 15. BRTR has 8924 securities and a top 15 weight of 39.43%.

A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF

April 21, 2023

VTES

VTESvsBRTRETF Comparison

Vanguard Short-Term Tax-Exempt Bond ETF

iShares Total Return Active ETF

VTES vs BRTR performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the VTES and BRTR ETFs performed in 2026?

As of September 2, 2026, VTES is up 0.59% year-to-date (YTD), while BRTR has lost -0.34%. That puts VTES better performer ahead so far this year.

Which ETF is attracting more investor money: VTES or BRTR?

Year-to-date, the VTES ETF saw +$845M in flows, compared to +$283M for BRTR.

Which ETF is more volatile: VTES or BRTR?

Over the past year, VTES had a volatility of 1.11%, while BRTR experienced 3.78%.

Which ETF is bigger: VTES or BRTR?

As of September 2, 2026, VTES holds $2.42 B in assets under management (AUM), while BRTR manages $770.02 M.

What sectors do the VTES and BRTR ETFs invest in?

VTES leans toward sectors like Municipal. Meanwhile, BRTR focuses on Sovereign and Industrials.

What are the top holdings of the VTES ETF and BRTR ETF?

VTES top holdings include North Colonie Central School District, 3.75% 25jun2027, USD (2026), US64972JQM35 and US13063ENN21. BRTR holds in its top three: US01F0526800, BlackRock Cash Funds - Institutional and USA, Bonds 4.75% 15nov2043, USD.

Which ETF is more diversified: VTES or BRTR?

VTES holds 3414 securities with 3.27% of its assets in the top 15. BRTR has 8924 securities and a top 15 weight of 39.43%.

A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF

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