Data as of Oct 28, 2026.
VBR vs VTEB: Differences, Returns & Fees
Over the year to Oct 28, 2026, VBR returned +17.6% to VTEB's −0.4%; 0% of their weight is in the same names.
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Net assets on Sep 30, 2026: $35.1bn for Vanguard Morningstar Small-Cap Value ETF and $49.6bn for Vanguard Tax-Exempt Bond ETF.
Pair scorecard
VTEB costs 0.02 points a year less; their one-year returns differ by 18.0 points; VTEB is 1.4 times larger.
| Measure | VBR | VTEB |
|---|---|---|
| Return | ||
| Total return, 1 year | +17.6% | −0.4% |
| Drawdown | ||
| Below its high | 3.9%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | Morningstar US Small Cap Value Index | S&P National AMT-Free Municipal Bond Index |
| Cost and size | ||
| Expense ratio | 0.05% | 0.03% |
| Net assets, as of Sep 30, 2026 | $35.1bn | $49.6bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 30% | |
| Top ten holdings, share of the fund | 5.9% | |
Holdings in common uses holdings dated Sep 30, 2026. Method
What they share
By the books each fund has filed, VBR and VTEB hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026.
half
0% in common
Only in one fund ↓
Side by side
VBR and VTEB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VBR
VBR tracks an index of Small-Cap Value. Over the year to Oct 28, 2026 it returned +17.6% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 30% of the fund by weight is stocks the S&P 500 also holds, across 822 positions, with the top ten at 5.9%. It sat 3.9% below its high of Aug 14, 2026 on Oct 28, 2026.
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, VBR or VTEB?
- In the year to Oct 28, 2026, with distributions reinvested, VBR returned +17.6% and VTEB −0.4%.
- Which is cheaper, VBR or VTEB?
- VTEB is cheaper, by 0.02 percentage points a year. That is about $2 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, VBR against VTEB, data as of Oct 28, 2026. https://etfiq.com/compare/any/vbr-vs-vteb
ETFIQ. (Oct 28, 2026). VBR against VTEB. Retrieved from https://etfiq.com/compare/any/vbr-vs-vteb
[VBR against VTEB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/vbr-vs-vteb)
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