Data as of Oct 28, 2026.
BNDX vs VTEB: Differences, Returns & Fees
On Jul 31, 2026 BNDX's duration was 6.5 years and VTEB's 7.1; VTEB charges 0.03% to BNDX's 0.07%.
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Net assets on Sep 30, 2026: $82.9bn for Vanguard Total International Bond ETF and $49.6bn for Vanguard Tax-Exempt Bond ETF.
Pair scorecard
VTEB costs 0.04 points a year less; their one-year returns differ by 0.5 points; BNDX is 1.7 times larger.
| Measure | BNDX | VTEB |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.9% | −0.4% |
| Benchmark | ||
| What it tracks | Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) | S&P National AMT-Free Municipal Bond Index |
| Cost and size | ||
| Expense ratio | 0.07% | 0.03% |
| Net assets, as of Sep 30, 2026 | $82.9bn | $49.6bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Jul 31, 2026. Method
Risk and return
Sep 4, 2015 to Oct 23, 2026 · 581 weekly returnsVTEB returned more: +26.3% to +23.4%. BNDX swung less: 4.0% to 6.7%. VTEB fell slightly less at its worst: −14.8% to −16.0%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | BNDX | VTEB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +23.4% | +26.3% | VTEB | Price change plus distributions, reinvested. |
| Annualized | +1.9% | +2.1% | VTEB (slight) | Total return as a yearly rate. |
| Price return | −10.7% | −2.9% | VTEB | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 4.0% | 6.7% | BNDX | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 2.9% | 4.6% | BNDX | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −16.0% | −14.8% | VTEB (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.08 | 0.00 | VTEB | Return above Treasury bills per unit of volatility. |
| Sortino | −0.11 | 0.01 | VTEB | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.12 | 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, BNDX and VTEB hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
BNDX and VTEB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
BNDX and VTEB do different jobs. What does each one do in a portfolio?
- What each follows. BNDX follows Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) 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 Jul 31, 2026).
- One-year total return (similar). Over 1 year to Oct 28, 2026 BNDX returned −0.9% and VTEB −0.4% with distributions reinvested, a gap of 0.5 points.
Data as of Oct 28, 2026.
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BNDX
BNDX tracks an index of Total International Bond. Over the year to Oct 28, 2026 it returned −0.9% with distributions reinvested. The prospectus expense ratio is 0.07% a year.
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, BNDX or VTEB?
- In the year to Oct 28, 2026, with distributions reinvested, BNDX returned −0.9% and VTEB −0.4%.
- Which is cheaper, BNDX or VTEB?
- VTEB is cheaper, by 0.04 percentage points a year. That is about $4 on $10,000 held for a year. Fees come from each fund's prospectus.
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, BNDX against VTEB, data as of Oct 28, 2026. https://etfiq.com/compare/any/bndx-vs-vteb
ETFIQ. (Oct 28, 2026). BNDX against VTEB. Retrieved from https://etfiq.com/compare/any/bndx-vs-vteb
[BNDX against VTEB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bndx-vs-vteb)
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