VTESvsNMBETF Comparison
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Vanguard Short-Term Tax-Exempt Bond ETF (VTES) belongs to the Municipal Bonds segment. Simplify National Muni Bond ETF (NMB) is part of the Options Strategies segment. Both ETFs have the same top 1 sector exposures: Municipal. VTES is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.52% for NMB. VTES is up 0.59% year-to-date (YTD) with +$845M in YTD flows. NMB performs worse with -0.49% YTD performance, and +$4M in YTD flows. Run a side-by-side ETF comparison of VTES and NMB 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 NMB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTES NMB | +0.10%-1.15% | -0.11%-1.48% | +0.59%-0.49% | +1.59%+5.70% | +9.43%n/a | n/an/a |
| Flows | VTES NMB | +$214M+$615K | +$446M+$1M | +$845M+$4M | +$1.13B+$2M | +$2.24B- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTES NMB | +1.12%+3.59% | +1.11%+4.83% | +1.48%n/a | n/an/a |
| Max drawdown | VTES NMB | -0.77%-3.05% | -1.38%-5.33% | -1.81%n/a | n/an/a |
| Max drawdown duration | VTES NMB | 58d57d | 188d308d | 59dn/a | n/an/a |
Trading data
VTES | NMB | |
Last sale 9/3/2026 at 6:47 PM | $100.32 | $24.05 |
| Previous close 09/02/2026 | $100.35 | $24.08 |
| 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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NMB
is actively managed and doesn’t replicate an indexVTES | NMB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
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Main metrics
Last update 9/3/2026 at 6:47 PM
Live
Closed
VTES | NMB | |
|---|---|---|
| Last price | $100.32 | $24.05 |
| 1D performance | -0.03% | -0.10% |
| AuM | $2.42 B | $48.12 M |
| E/R | 0.05% | 0.52% |
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Exposure
Countries
VTES
USA
59.38%
Other
40.62%
NMB
USA
54.36%
Other
45.64%
Sectors
VTES
Municipal
59.38%
Other
40.62%
NMB
Municipal
54.36%
Other
45.64%
Diversification
VTES
Total weight of top 15 holdings out of 15
3.27%
NMB
Total weight of top 15 holdings out of 15
53.67%
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%
NMB
US43233KAW45
4.39%
Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025)
4.37%
US93974FJY07
4.32%
Jacksonville Aviation Authority, 5.25% 1oct2055, USD (2026)
4.22%
Aldine Independent School District, 4.375% 15feb2051, USD (2026)
3.99%
Midlothian Independent School District, 4.375% 15feb2056, USD (2026)
3.40%
US60637AA360
3.27%
Lee, 5.5% 1oct2051, USD (2026A-1)
3.27%
San Francisco Airport Commission, 5.5% 1may2055, USD (2025D)
3.27%
US46613SUP37
3.23%
Austin, 5.25% 15nov2051, USD (2026B)
3.20%
New Jersey Transportation Trust Fund Authority, 5% 15jun2050, USD (2025)
3.19%
US6500093S07
3.19%
Omaha Public Power District, 5% 1feb2056, USD (2026)
3.18%
US3730643H50
3.17%
Frequently asked questions about VTES and NMB
How have the VTES and NMB ETFs performed in 2026?
As of September 2, 2026, VTES is up 0.59% year-to-date (YTD), while NMB has lost -0.49%. That puts VTES better performer ahead so far this year.
Which ETF is attracting more investor money: VTES or NMB?
Year-to-date, the VTES ETF saw +$845M in flows, compared to +$4M for NMB.
Which ETF is more volatile: VTES or NMB?
Over the past year, VTES had a volatility of 1.11%, while NMB experienced 4.83%.
Which ETF is bigger: VTES or NMB?
As of September 2, 2026, VTES holds $2.42 B in assets under management (AUM), while NMB manages $48.12 M.
What sectors do the VTES and NMB ETFs invest in?
VTES leans toward sectors like Municipal. Meanwhile, NMB focuses on Municipal.
What are the top holdings of the VTES ETF and NMB ETF?
VTES top holdings include North Colonie Central School District, 3.75% 25jun2027, USD (2026), US64972JQM35 and US13063ENN21. NMB holds in its top three: US43233KAW45, Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025) and US93974FJY07.
Which ETF is more diversified: VTES or NMB?
VTES holds 3414 securities with 3.27% of its assets in the top 15. NMB has 36 securities and a top 15 weight of 53.67%.
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Latest news about VTES & NMB
Notable ETF Filings and Launches Recap: September 2024
September 26, 2024
NMB
A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF
April 21, 2023
VTES
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