Which returned more over the last year, TFI or VTEB?

In the year to Oct 9, 2026, with distributions reinvested, TFI returned −2.7% and VTEB −2.3%.

Which is cheaper, TFI or VTEB?

VTEB is cheaper, by 0.20 percentage points a year. That is about $20 on $10,000 held for a year. Fees come from each fund's prospectus.

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TFI vs VTEB: Differences, Returns & Fees

TFI's duration was 6.0 years on Jun 30, 2026 and VTEB's 7.1 on Jul 31, 2026; VTEB charges 0.03% to TFI's 0.23%. Net assets: $2.8bn on Oct 8, 2026 for State Street SPDR Nuveen ICE Municipal Bond ETF, and $49.6bn on Sep 30, 2026 for Vanguard Tax-Exempt Bond ETF.

VTEB costs 0.20 points a year less; their one-year returns differ by 0.4 points; VTEB is 17.6 times larger.

	TFI	VTEB
Expense ratio	0.23%	0.03%
Net assets, as of Sep 30, 2026	$2.8bn	$49.6bn
Total return, 1 year	−2.7%	−2.3%
What it tracks	ICE 1+ Year AMT-Free Broad Municipal Index ?	S&P National AMT-Free Municipal Bond Index
Holdings in common	8%
Below its high	6.2%, high on Jul 19, 2021	5.6%, high on Jul 6, 2026

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

−2.7%

TFI total return, 1 year

−2.3%

VTEB total return, 1 year

0.23%

TFI expense ratio

0.03%

VTEB expense ratio

What they hold in common

By the books each fund has filed, TFI and VTEB hold 8% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Jul 31, 2026.

50%

half

8% in common

Positions both hold, largest shared weight first

Holding TFI VTEB

NEW JERSEY ST TRANSPRTN TRUST FUND AUTH, due Jun 15, 2029 0.10% 0.07%

TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE, due May 15, 2064 0.07% 0.07%

NEW JERSEY ST, due Jun 1, 2029 0.06% 0.06%

LOS ANGELES CA DEPT OF WTR & PWR REVENUE, due Jul 1, 2030 0.06% 0.07%

NORTHWEST TX INDEP SCH DIST, due Feb 15, 2049 0.10% 0.06%

MASSACHUSETTS ST, due May 1, 2054 0.07% 0.06%

TEXAS ST WTR DEV BRD, due Oct 15, 2043 0.06% 0.05%

NEW YORK ST URBAN DEV CORP REVENUE, due Mar 15, 2049 0.06% 0.05%

NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE, due Mar 15, 2046 0.07% 0.05%

UNIV OF CALIFORNIA CA REVENUES, due Nov 15, 2039 0.06% 0.05%

MET TRANSPRTN AUTH NY DEDICATED TAX FUND, due Nov 15, 2036 0.06% 0.05%

NORTH CAROLINA ST CAPITAL FACS FIN AGY EDUCTNL FACS REVENUE, due Jan 1, 2036 0.05% 0.05%

Only in TFI

WASHINGTON ST, due Feb 1, 2028 0.20%

MADISON WI, due Oct 1, 2032 0.20%

GEORGIA ST, due Jul 1, 2030 0.19%

MARYLAND ST DEPT OF TRANSPRTN CONSOL TRANSPRTN, due Oct 1, 2034 0.19%

OHIO ST, due Nov 1, 2034 0.18%

RICHMOND CNTY GA BRD OF EDU, due Oct 1, 2027 0.18%

ALAMEDA CNTY CA JT PWRS AUTH LEASE REVENUE, due Dec 1, 2030 0.18%

NEW YORK NY, due Aug 1, 2029 0.17%

Only in VTEB

NEW YORK CITY-F-1-REF, due Aug 1, 2034 0.12%

CA REGENTS UNIV-CD, due May 15, 2036 0.11%

IDAHO ST-TANS, due Jun 30, 2027 0.10%

CA REF, due Aug 1, 2032 0.10%

MARYLAND ST-GROUP 2, due Jun 1, 2038 0.09%

NY ST THRUWAY AUTH-A, due Sep 15, 2035 0.09%

TRIBOROUGH BRIDGE-A-1, due Feb 1, 2028 0.09%

DALLAS ISD-B, due Feb 15, 2056 0.08%

Check overlap with more funds →

On the same fields

TFI

State Street SPDR Nuveen ICE Municipal Bond ETF

VTEB

Vanguard Tax-Exempt Bond ETF

Where it sits Bond ETF Bond ETF

Issuer State Street Vanguard

What it is Tracks an index Tracks an index of Tax-Exempt Bond

Total return, 1 year −2.7% −2.3%

S&P 500 over the same days +17.3% +17.3%

Gap to the S&P 500 −19.9 pts −19.5 pts

Expense ratio 0.23% 0.03%

Holdings 1990 10723

Net assets, TFI as of Oct 8, 2026 and VTEB as of Sep 30, 2026 $2.8bn $49.6bn

TFI and VTEB on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

TFI in plain words

TFI tracks an index. Over the year to Oct 9, 2026 it returned −2.7% with distributions reinvested. The prospectus expense ratio is 0.23% a year. It sat 6.2% below its high of Jul 19, 2021 on Oct 9, 2026.

VTEB in plain words

VTEB tracks an index of Tax-Exempt Bond. Over the year to Oct 9, 2026 it returned −2.3% with distributions reinvested. The prospectus expense ratio is 0.03% a year. It sat 5.6% below its high of Jul 6, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, TFI or VTEB?: In the year to Oct 9, 2026, with distributions reinvested, TFI returned −2.7% and VTEB −2.3%.
Which is cheaper, TFI or VTEB?: VTEB is cheaper, by 0.20 percentage points a year. That is about $20 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

MUB vs TFI JMUB vs TFI TFI vs VCRM TAFM vs TFI FLMI vs VTEB PZA vs VTEB TAFM vs VTEB JMUB vs VTEB

TFI on its own →VTEB on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

TFI filings on SEC EDGAR ↗TFI prospectus with the expense ratio (SEC) ↗State Street website ↗VTEB filings on SEC EDGAR ↗VTEB prospectus with the expense ratio (SEC) ↗Vanguard page for VTEB ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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, TFI against VTEB, data as of Oct 9, 2026. https://etfiq.com/compare/any/tfi-vs-vteb

Open data

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