Which returned more over the last year, MUNI or VTEI?

In the year to Oct 28, 2026, with distributions reinvested, MUNI returned +0.1% and VTEI 0.0%.

Which is cheaper, MUNI or VTEI?

VTEI is cheaper, by 0.27 percentage points a year. That is about $27 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

MUNI vs VTEI: Differences, Returns & Fees

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MUNI's duration was 4.5 years on Jun 30, 2026 and VTEI's 5.6 on Jul 31, 2026; VTEI charges 0.08% to MUNI's 0.35%.

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Net assets: $3.1bn on Jun 30, 2026 for PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund, and $1.7bn on Sep 30, 2026 for Vanguard Intermediate-Term Tax-Exempt Bond ETF.

MUNI on its own →VTEI on its own →

At a glance

+0.1%

MUNI total return, 1 year

0.0%

VTEI total return, 1 year

0.35%

MUNI expense ratio

0.08%

VTEI expense ratio

Pair scorecard

VTEI costs 0.27 points a year less; their one-year returns differ by 0.1 points.

MUNI vs VTEI: Differences, Returns & Fees
Measure	MUNI	VTEI
Return
Measure	MUNI	VTEI
Total return, 1 year	+0.1%	0.0%
Benchmark
Measure	MUNI	VTEI
What it tracks	No index, actively managed	S&P Intermediate Term National AMT-Free Municipal Bond Index
Cost and size
Measure	MUNI	VTEI
Expense ratio	0.35%	0.08%
Net assets, MUNI as of Jun 30, 2026 and VTEI as of Sep 30, 2026	$3.1bn	$1.7bn
Holdings
Measure	MUNI	VTEI
Holdings in common	1%

Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method

Risk and return

Feb 9, 2024 to Oct 23, 2026 · 141 weekly returns

MUNI VTEI

Return

Total return edge MUNI +6.2% +5.3%

Annualized edge MUNI +2.2% +1.9%

Price return edge VTEI (slight) −2.9% −2.8%

Risk

Volatility edge Tie 3.8% 3.8%

Max drawdown edge MUNI −4.8% −5.3%

Risk-adjusted

Sharpe edge MUNI −0.55 −0.63

Sortino edge MUNI −0.67 −0.76

Calmar edge MUNI 0.47 0.36

Reading

MUNI returned more: +6.2% to +5.3%. MUNI and VTEI swung about the same: 3.8% and 3.8%. MUNI fell less at its worst: −4.8% to −5.3%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: MUNI vs VTEI: Differences, Returns & Fees
Measure	MUNI	VTEI	Edge	How it is measured
Return
Total return	+6.2%	+5.3%	MUNI	Price change plus distributions, reinvested.
Annualized	+2.2%	+1.9%	MUNI	Total return as a yearly rate.
Price return	−2.9%	−2.8%	VTEI (slight)	Price change alone, distributions left out.
Risk
Volatility	3.8%	3.8%	Tie	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	3.1%	3.1%	Tie	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−4.8%	−5.3%	MUNI	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.55	−0.63	MUNI	Return above Treasury bills per unit of volatility.
Sortino	−0.67	−0.76	MUNI	Return above Treasury bills per unit of downside deviation.
Calmar	0.47	0.36	MUNI	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 141 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, MUNI and VTEI hold 1% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

50%

0 half 100%

half

1% in common

Positions both hold · largest shared weight first MUNI VTEI

Illinois State Toll Highway Authority, due Jan 1, 2045 0.49% 0.08%

State of Maryland, due Jun 1, 2038 0.12% 0.07%

District of Columbia, due Aug 1, 2031 0.11% 0.05%

District of Columbia, due Apr 1, 2060 0.46% 0.04%

Illinois State Toll Highway Authority, due Jan 1, 2040 0.07% 0.04%

Board of Regents of the University of Texas System, due Aug 15, 2041 0.19% 0.03%

State of Connecticut Special Tax Revenue, due Jan 1, 2035 0.14% 0.03%

Fort Bend Independent School District, due Aug 1, 2055 0.79% 0.03%

Massachusetts Development Finance Agency, due Oct 1, 2065 0.28% 0.03%

City of San Antonio Electric & Gas Systems Revenue, due Feb 1, 2055 0.37% 0.03%

Denton Independent School District, due Aug 15, 2036 0.09% 0.03%

State of California, due Sep 1, 2043 0.10% 0.03%

Only in one fund ↓

Only in MUNI

U.S. Treasury Notes, due Feb 29, 2028 2.20%

U.S. Treasury Notes, due Feb 28, 2031 1.78%

U.S. Treasury Notes, due Apr 30, 2031 1.16%

U.S. Treasury Notes, due Feb 28, 2031 0.86%

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, due Jul 1, 2046 0.81%

Connecticut State Health & Educational Facilities Authority, due Jul 1, 2057 0.81%

Black Belt Energy Gas District, due Jan 1, 2034 0.81%

Texas Municipal Gas Acquisition & Supply Corp. V, due Apr 1, 2036 0.80%

Only in VTEI

CALIFORNIA ST-REF, due Oct 1, 2035 0.16%

BAY AREA TOLL AUTH-A, due Apr 1, 2061 0.16%

CALIFORNIA ST -REF, due Apr 1, 2035 0.14%

PALO ALTO UNIF SCH DT, due Aug 1, 2026 0.14%

CA REGENTS UNIV-CD, due May 15, 2036 0.13%

IDAHO ST-TANS, due Jun 30, 2027 0.13%

HOUSTON ISD-PREREFUND, due Feb 15, 2042 0.13%

NEW YORK CITY-G-1, due Nov 1, 2030 0.13%

Check overlap with more funds →

Side by side

MUNI PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF

Where it sits Bond ETF Bond ETF

Issuer PIMCO Vanguard

What it is Actively managed Tracks an index

Total return, 1 year +0.1% 0.0%

Expense ratio 0.35% 0.08%

Holdings 647 6268

Net assets, MUNI as of Jun 30, 2026 and VTEI as of Sep 30, 2026 $3.1bn $1.7bn

MUNI and VTEI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-D7CFCEF186

MUNI and VTEI are built for the same job. How do they differ in cost, holdings and results?

What each follows. MUNI follows No index, actively managed and VTEI follows S&P Intermediate Term National AMT-Free Municipal Bond Index.
Holdings in common. 1% of the weight is in the same securities (holdings dated Jun 30, 2026 and Jul 31, 2026).
Number of holdings. MUNI holds 647 positions and VTEI holds 6268.

Data as of Oct 28, 2026.

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About each fund

MUNI

MUNI is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +0.1% with distributions reinvested. The prospectus expense ratio is 0.35% a year.

VTEI

VTEI tracks an index. Over the year to Oct 28, 2026 it returned 0.0% with distributions reinvested. The prospectus expense ratio is 0.08% a year.

Questions people ask

Which returned more over the last year, MUNI or VTEI?: In the year to Oct 28, 2026, with distributions reinvested, MUNI returned +0.1% and VTEI 0.0%.
Which is cheaper, MUNI or VTEI?: VTEI is cheaper, by 0.27 percentage points a year. That is about $27 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

MUNI vs VSDM ITM vs MUNI CGMU vs MUNI MMIT vs MUNI CGMU vs VTEI DFNM vs VTEI MMIT vs VTEI ITM vs VTEI

Where to next

MUNI on its own →VTEI on its own →Hold both: look the portfolio through →Rankings →MUNI dividend history →MUNI holdings →VTEI dividend history →VTEI holdings →Standards and sources →

Sources and dates

MUNI filings on SEC EDGAR ↗

MUNI prospectus with the expense ratio (SEC) ↗

PIMCO website ↗

VTEI filings on SEC EDGAR ↗

VTEI prospectus with the expense ratio (SEC) ↗

Vanguard page for VTEI ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, MUNI against VTEI, data as of Oct 28, 2026. https://etfiq.com/compare/any/muni-vs-vtei

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.