Data as of Oct 28, 2026.
HYG vs VTEB: Differences, Returns & Fees
HYG's duration was 2.9 years on Aug 31, 2026 and VTEB's 7.1 on Jul 31, 2026; VTEB charges 0.03% to HYG's 0.49%.
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Net assets: $17.5bn on Oct 27, 2026 for iShares iBoxx $ High Yield Corporate Bond ETF, and $49.6bn on Sep 30, 2026 for Vanguard Tax-Exempt Bond ETF.
Pair scorecard
VTEB costs 0.46 points a year less; their one-year returns differ by 1.7 points; VTEB is 3.0 times larger.
| Measure | HYG | VTEB |
|---|---|---|
| Return | ||
| Total return, 1 year | +1.3% | −0.4% |
| Benchmark | ||
| What it tracks | Markit iBoxx USD Liquid High Yield Index | S&P National AMT-Free Municipal Bond Index |
| Cost and size | ||
| Expense ratio | 0.49% | 0.03% |
| Net assets, as of Sep 30, 2026 | $16.8bn | $49.6bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Jul 31, 2026 and Aug 31, 2026. Method
Risk and return
Sep 4, 2015 to Oct 23, 2026 · 581 weekly returnsHYG returned more: +62.0% to +26.3%. VTEB swung less: 6.7% to 9.3%. VTEB fell less at its worst: −14.8% to −20.7%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | HYG | VTEB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +62.0% | +26.3% | HYG | Price change plus distributions, reinvested. |
| Annualized | +4.4% | +2.1% | HYG | Total return as a yearly rate. |
| Price return | −10.4% | −2.9% | VTEB | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 9.3% | 6.7% | VTEB | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 6.4% | 4.6% | VTEB | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −20.7% | −14.8% | VTEB | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.26 | 0.00 | HYG | Return above Treasury bills per unit of volatility. |
| Sortino | 0.38 | 0.01 | HYG | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.21 | 0.14 | HYG | 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, HYG and VTEB hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Aug 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
HYG and VTEB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
HYG and VTEB do different jobs. What does each one do in a portfolio?
- What each follows. HYG follows Markit iBoxx USD Liquid High Yield 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 Aug 31, 2026 and Jul 31, 2026).
- Number of holdings. HYG holds 1,332 positions and VTEB holds 11155.
Data as of Oct 28, 2026.
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HYG
HYG tracks an index of US high yield bonds. Over the year to Oct 28, 2026 it returned +1.3% with distributions reinvested, against −1.2% for its benchmark, the Bloomberg U.S. Universal Index. The prospectus expense ratio is 0.49% 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, HYG or VTEB?
- In the year to Oct 28, 2026, with distributions reinvested, HYG returned +1.3% and VTEB −0.4%.
- Which is cheaper, HYG or VTEB?
- VTEB is cheaper, by 0.46 percentage points a year. That is about $46 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, HYG against VTEB, data as of Oct 28, 2026. https://etfiq.com/compare/any/hyg-vs-vteb
ETFIQ. (Oct 28, 2026). HYG against VTEB. Retrieved from https://etfiq.com/compare/any/hyg-vs-vteb
[HYG against VTEB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/hyg-vs-vteb)
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