Data as of Oct 28, 2026.
USFR vs VTEB: Differences, Returns & Fees
USFR's duration was 0.0 years on May 31, 2026 and VTEB's 7.1 on Jul 31, 2026; VTEB charges 0.03% to USFR's 0.15%.
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Net assets: $17.0bn on May 31, 2026 for WisdomTree Floating Rate Treasury Fund, and $49.6bn on Sep 30, 2026 for Vanguard Tax-Exempt Bond ETF.
Pair scorecard
VTEB costs 0.12 points a year less; their one-year returns differ by 4.5 points.
| Measure | USFR | VTEB |
|---|---|---|
| Return | ||
| Total return, 1 year | +4.1% | −0.4% |
| Benchmark | ||
| What it tracks | Bloomberg U.S. Treasury Floating Rate Bond Index | S&P National AMT-Free Municipal Bond Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.03% |
| Net assets, USFR as of May 31, 2026 and VTEB as of Sep 30, 2026 | $17.0bn | $49.6bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated May 31, 2026 and Jul 31, 2026. Method
Risk and return
Sep 4, 2015 to Oct 23, 2026 · 581 weekly returnsUSFR returned slightly more: +29.0% to +26.3%. USFR swung less: 0.7% to 6.7%. USFR fell less at its worst: −1.0% to −14.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | USFR | VTEB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +29.0% | +26.3% | USFR (slight) | Price change plus distributions, reinvested. |
| Annualized | +2.3% | +2.1% | USFR (slight) | Total return as a yearly rate. |
| Price return | +1.1% | −2.9% | USFR | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 0.7% | 6.7% | USFR | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.5% | 4.6% | USFR | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −1.0% | −14.8% | USFR | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.00 | 0.00 | Tie | Return above Treasury bills per unit of volatility. |
| Sortino | 0.01 | 0.01 | Tie | Return above Treasury bills per unit of downside deviation. |
| Calmar | 2.40 | 0.14 | USFR | 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, USFR and VTEB hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jul 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
USFR and VTEB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
USFR and VTEB do different jobs. What does each one do in a portfolio?
- What each follows. USFR follows Bloomberg U.S. Treasury Floating Rate Bond 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 May 31, 2026 and Jul 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 USFR returned +4.1% and VTEB −0.4% with distributions reinvested, a gap of 4.5 points.
Data as of Oct 28, 2026.
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USFR
USFR tracks an index of Floating Rate Treasury. Over the year to Oct 28, 2026 it returned +4.1% with distributions reinvested, against +4.0% for its benchmark, the Bloomberg U.S. Treasury Floating Rate Bond Index. The prospectus expense ratio is 0.15% 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, USFR or VTEB?
- In the year to Oct 28, 2026, with distributions reinvested, USFR returned +4.1% and VTEB −0.4%.
- Which is cheaper, USFR or VTEB?
- VTEB is cheaper, by 0.12 percentage points a year. That is about $12 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.
Cite this pageCitation, APA and Markdown
ETFIQ, USFR against VTEB, data as of Oct 28, 2026. https://etfiq.com/compare/any/usfr-vs-vteb
ETFIQ. (Oct 28, 2026). USFR against VTEB. Retrieved from https://etfiq.com/compare/any/usfr-vs-vteb
[USFR against VTEB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/usfr-vs-vteb)
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