Data as of Oct 28, 2026.
VTEB vs VTEI: Differences, Returns & Fees
On Jul 31, 2026 VTEB's duration was 7.1 years and VTEI's 5.6; VTEB charges 0.03% to VTEI's 0.08%.
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Net assets on Sep 30, 2026: $49.6bn for Vanguard Tax-Exempt Bond ETF and $1.7bn for Vanguard Intermediate-Term Tax-Exempt Bond ETF.
Pair scorecard
VTEB costs 0.05 points a year less; their one-year returns differ by 0.4 points; VTEB is far larger, $49.6bn against $1.7bn.
| Measure | VTEB | VTEI |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.4% | 0.0% |
| Benchmark | ||
| What it tracks | S&P National AMT-Free Municipal Bond Index | S&P Intermediate Term National AMT-Free Municipal Bond Index |
| Cost and size | ||
| Expense ratio | 0.03% | 0.08% |
| Net assets, as of Sep 30, 2026 | $49.6bn | $1.7bn |
| Holdings | ||
| Holdings in common | 29% | |
Holdings in common uses holdings dated Jul 31, 2026. Method
Risk and return
Feb 9, 2024 to Oct 23, 2026 · 141 weekly returnsVTEI returned more: +5.3% to +4.6%. VTEI swung less: 3.8% to 4.4%. VTEI fell slightly less at its worst: −5.3% to −5.7%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VTEB | VTEI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +4.6% | +5.3% | VTEI | Price change plus distributions, reinvested. |
| Annualized | +1.7% | +1.9% | VTEI | Total return as a yearly rate. |
| Price return | −4.1% | −2.8% | VTEI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 4.4% | 3.8% | VTEI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 3.6% | 3.1% | VTEI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −5.7% | −5.3% | VTEI (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.59 | −0.63 | VTEB (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | −0.72 | −0.76 | VTEB (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.30 | 0.36 | VTEI | 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, VTEB and VTEI hold 29% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026.
half
29% in common
Only in one fund ↓
Side by side
VTEB and VTEI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VTEB and VTEI do different jobs. What does each one do in a portfolio?
- What each follows. VTEB follows S&P National AMT-Free Municipal Bond Index and VTEI follows S&P Intermediate Term National AMT-Free Municipal Bond Index.
- Holdings in common. 29% of the weight is in the same securities (holdings dated Jul 31, 2026).
- Size. VTEB has $49.6bn in net assets and VTEI $1.7bn (net assets, as of Sep 30, 2026); VTEB is 29.2 times larger.
Data as of Oct 28, 2026.
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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.
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, VTEB or VTEI?
- In the year to Oct 28, 2026, with distributions reinvested, VTEB returned −0.4% and VTEI 0.0%.
- Which is cheaper, VTEB or VTEI?
- VTEB is cheaper, by 0.05 percentage points a year. That is about $5 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, VTEB against VTEI, data as of Oct 28, 2026. https://etfiq.com/compare/any/vteb-vs-vtei
ETFIQ. (Oct 28, 2026). VTEB against VTEI. Retrieved from https://etfiq.com/compare/any/vteb-vs-vtei
[VTEB against VTEI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/vteb-vs-vtei)
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