VTESvsMLNETF Comparison
VS
Vanguard Short-Term Tax-Exempt Bond ETF (VTES) and VanEck Long Muni ETF (MLN) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. VTES is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.24% for MLN. VTES is up 0.05% year-to-date (YTD) with +$2.52B in YTD flows. MLN performs worse with -3.29% YTD performance, and +$95M in YTD flows. Run a side-by-side ETF comparison of VTES and MLN 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 MLN performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTES MLN | +0.15%-0.84% | -0.72%-5.48% | +0.05%-3.29% | +0.53%-3.06% | +9.70%+10.54% | n/a-9.18% |
| Flows | VTES MLN | +$1.06B+$46M | +$1.95B+$51M | +$2.52B+$95M | +$2.69B+$120M | +$3.87B+$313M | -+$549M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTES MLN | +2.60%+7.33% | +1.59%+4.62% | +1.59%+5.77% | n/a+6.07% |
| Max drawdown | VTES MLN | -2.66%-8.15% | -2.95%-9.02% | -2.95%-9.02% | n/a-23.40% |
| Max drawdown duration | VTES MLN | 64d92d | 232d102d | 232d102d | n/a1747d |
Trading data
VTES | MLN | |
Last sale 10/16/2026 at 1:30 PM | $99.59 | $16.55 |
| Previous close 10/15/2026 | $99.50 | $16.63 |
| 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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VTES | MLN | |
|---|---|---|
| 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
VTES | MLN | |
|---|---|---|
| Last price | $99.59 | $16.55 |
| 1D performance | +0.09% | -0.48% |
| AuM | $4.08 B | $699.23 M |
| E/R | 0.05% | 0.24% |
Characteristics
VTES | MLN | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | VanEck |
| Benchmark | S&P 0-7 Year National AMT-Free Municipal Bond Index | ICE Long AMT-Free Broad National Municipal Index |
| N° of holdings | 1671 | 346 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 9, 2023 | January 2, 2008 |
| ESG | No | No |
Exposure
Countries
VTES
USA
52.32%
Other
47.68%
MLN
USA
56.14%
Other
43.86%
Sectors
VTES
Municipal
52.32%
Other
47.68%
MLN
Municipal
56.14%
Other
43.86%
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Diversification
VTES
Total weight of top 15 holdings out of 15
5.61%
MLN
Total weight of top 15 holdings out of 15
7.99%
Top 15 holdings
Data as of August 31, 2026
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%
MLN
Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C)
0.76%
City of New York, 5% 1sep2048, USD (2025)
0.74%
Onondaga Civic Development Corp., 5.5% 1dec2056, USD (2025)
0.52%
Texas Transportation Finance Corp., 5.5% 1oct2055, USD (2025A)
0.52%
US677523JU73
0.51%
Los Angeles Department of Airports, 5.25% 15may2051, USD (2025)
0.51%
US64990KHZ93
0.51%
Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025)
0.50%
New York Municipal Water Finance Authority, 5.25% 15jun2055, USD (2026)
0.50%
Colorado Bridge and Tunnel Enterprise, 5.25% 1dec2054, USD (2025A)
0.50%
City of New York, 5% 1oct2045, USD (2026)
0.50%
Massachusetts, 5% 1aug2054, USD (2024)
0.49%
North Carolina Turnpike Authority, 5% 1jan2058, USD (2024A)
0.49%
US93978LJN73
0.49%
US677632N648
0.47%
Frequently asked questions about VTES and MLN
How have the VTES and MLN ETFs performed in 2026?
As of October 16, 2026, VTES is up 0.05% year-to-date (YTD), while MLN has lost -3.29%. That puts VTES better performer ahead so far this year.
Which ETF is attracting more investor money: VTES or MLN?
Year-to-date, the VTES ETF saw +$2.52B in flows, compared to +$95M for MLN.
Which ETF is more volatile: VTES or MLN?
Over the past year, VTES had a volatility of 1.59%, while MLN experienced 4.62%.
Which ETF is bigger: VTES or MLN?
As of October 16, 2026, VTES holds $4.08 B in assets under management (AUM), while MLN manages $699.23 M.
What sectors do the VTES and MLN ETFs invest in?
VTES leans toward sectors like Municipal. Meanwhile, MLN focuses on Municipal.
What are the top holdings of the VTES ETF and MLN ETF?
VTES top holdings include US13063EUN48, US13063EUM64 and US13063EUP95. MLN holds in its top three: Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C), City of New York, 5% 1sep2048, USD (2025) and Onondaga Civic Development Corp., 5.5% 1dec2056, USD (2025).
Which ETF is more diversified: VTES or MLN?
VTES holds 3442 securities with 5.61% of its assets in the top 15. MLN has 633 securities and a top 15 weight of 7.99%.
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