Data as of Oct 28, 2026.
ACWI vs VTEB: Differences, Returns & Fees
Over the year to Oct 28, 2026, ACWI returned +13.4% to VTEB's −0.4%; 0% of their weight is in the same names.
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Net assets: $33.0bn on Oct 28, 2026 for iShares MSCI ACWI ETF, and $49.6bn on Sep 30, 2026 for Vanguard Tax-Exempt Bond ETF.
Pair scorecard
VTEB costs 0.29 points a year less; their one-year returns differ by 13.8 points; VTEB is 1.5 times larger.
| Measure | ACWI | VTEB |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.4% | −0.4% |
| Benchmark | ||
| What it tracks | MSCI ACWI | S&P National AMT-Free Municipal Bond Index |
| Cost and size | ||
| Expense ratio | 0.32% | 0.03% |
| Net assets, as of Sep 30, 2026 | $32.8bn | $49.6bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 61% | |
| Top ten holdings, share of the fund | 24.9% | |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Sep 4, 2015 to Oct 23, 2026 · 581 weekly returnsACWI returned more: +258.2% to +26.3%. VTEB swung less: 6.7% to 16.2%. VTEB fell less at its worst: −14.8% to −32.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ACWI | VTEB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +258.2% | +26.3% | ACWI | Price change plus distributions, reinvested. |
| Annualized | +12.1% | +2.1% | ACWI | Total return as a yearly rate. |
| Price return | +190.1% | −2.9% | ACWI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.2% | 6.7% | VTEB | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.3% | 4.6% | VTEB | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −32.1% | −14.8% | VTEB | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.65 | 0.00 | ACWI | Return above Treasury bills per unit of volatility. |
| Sortino | 0.92 | 0.01 | ACWI | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.38 | 0.14 | ACWI | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 581 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ACWI and VTEB hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
ACWI and VTEB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ACWI and VTEB do different jobs. What does each one do in a portfolio?
- What each follows. ACWI follows MSCI ACWI and VTEB follows S&P National AMT-Free Municipal Bond Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 ACWI returned +13.4% and VTEB −0.4% with distributions reinvested, a gap of 13.8 points.
Data as of Oct 28, 2026.
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ACWI
ACWI tracks the MSCI ACWI. Over the year to Oct 28, 2026 it returned +13.4% with distributions reinvested. The prospectus expense ratio is 0.32% a year. By its holdings published by its issuer for Oct 27, 2026, 61% of the fund by weight is stocks the S&P 500 also holds, across 2,197 positions, with the top ten at 24.9%.
VTEB
VTEB tracks an index of Tax-Exempt Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested. The prospectus expense ratio is 0.03% a year.
Questions people ask
- Which returned more over the last year, ACWI or VTEB?
- In the year to Oct 28, 2026, with distributions reinvested, ACWI returned +13.4% and VTEB −0.4%.
- Which is cheaper, ACWI or VTEB?
- VTEB is cheaper, by 0.29 percentage points a year. That is about $29 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, ACWI against VTEB, data as of Oct 28, 2026. https://etfiq.com/compare/any/acwi-vs-vteb
ETFIQ. (Oct 28, 2026). ACWI against VTEB. Retrieved from https://etfiq.com/compare/any/acwi-vs-vteb
[ACWI against VTEB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/acwi-vs-vteb)
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