Data as of Oct 28, 2026.
BND vs VTEB: Differences, Returns & Fees
BND's duration was 5.7 years on Jun 30, 2026 and VTEB's 7.1 on Jul 31, 2026; both charge 0.03%.
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Net assets on Sep 30, 2026: $161.4bn for Vanguard Total Bond Market ETF and $49.6bn for Vanguard Tax-Exempt Bond ETF.
Pair scorecard
Both cost 0.03% a year; their one-year returns differ by 0.9 points; BND is 3.3 times larger.
Points (pts) are percentage points.
| Measure | BND | VTEB |
|---|---|---|
| Return | ||
| Total return, 1 year | −1.3% | −0.4% |
| Drawdown | ||
| Below its high | 3.5%, high on Aug 6, 2020 | |
| Benchmark | ||
| What it tracks | Bloomberg U.S. Aggregate Float Adjusted Index | S&P National AMT-Free Municipal Bond Index |
| Cost and size | ||
| Expense ratio | 0.03% | 0.03% |
| Net assets, as of Sep 30, 2026 | $161.4bn | $49.6bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method
Risk and return
Sep 4, 2015 to Oct 23, 2026 · 581 weekly returnsVTEB returned more: +26.3% to +20.2%. BND swung less: 5.0% to 6.7%. VTEB fell less at its worst: −14.8% to −18.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | BND | VTEB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +20.2% | +26.3% | VTEB | Price change plus distributions, reinvested. |
| Annualized | +1.7% | +2.1% | VTEB | Total return as a yearly rate. |
| Price return | −12.8% | −2.9% | VTEB | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 5.0% | 6.7% | BND | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 3.6% | 4.6% | BND | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −18.4% | −14.8% | VTEB | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.10 | 0.00 | VTEB | Return above Treasury bills per unit of volatility. |
| Sortino | −0.14 | 0.01 | VTEB | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.09 | 0.14 | VTEB | 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, BND and VTEB hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
BND and VTEB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
BND and VTEB do different jobs. What does each one do in a portfolio?
- What each follows. BND follows Bloomberg U.S. Aggregate Float Adjusted Index 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 Jun 30, 2026 and Jul 31, 2026).
- Size. BND has $161.4bn in net assets and VTEB $49.6bn (net assets, as of Sep 30, 2026); BND is 3.3 times larger.
Data as of Oct 28, 2026.
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BND
BND tracks an index of US aggregate bonds. Over the year to Oct 28, 2026 it returned −1.3% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Float Adjusted Index, measured by the closely related Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.03% a year. It sat 3.5% below its high of Aug 6, 2020 on Oct 28, 2026.
VTEB
VTEB tracks an index of Tax-Exempt Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, BND against VTEB, data as of Oct 28, 2026. https://etfiq.com/compare/any/bnd-vs-vteb
ETFIQ. (Oct 28, 2026). BND against VTEB. Retrieved from https://etfiq.com/compare/any/bnd-vs-vteb
[BND against VTEB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bnd-vs-vteb)
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