Data as of Oct 28, 2026.
VTEB vs VUSB: Differences, Returns & Fees
VTEB's duration was 7.1 years on Jul 31, 2026 and VUSB's 1.0 on Jun 30, 2026; VTEB charges 0.03% to VUSB's 0.10%.
askIQ about this page
askIQ about VTEB and VUSB
Net assets on Sep 30, 2026: $49.6bn for Vanguard Tax-Exempt Bond ETF and $9.9bn for Vanguard Ultra-Short Bond ETF.
Pair scorecard
VTEB costs 0.07 points a year less; their one-year returns differ by 3.9 points; VTEB is 5.0 times larger.
| Measure | VTEB | VUSB |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.4% | +3.5% |
| Benchmark | ||
| What it tracks | S&P National AMT-Free Municipal Bond Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.03% | 0.10% |
| Net assets, as of Sep 30, 2026 | $49.6bn | $9.9bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method
Risk and return
Apr 16, 2021 to Oct 23, 2026 · 288 weekly returnsVUSB returned more: +20.0% to +2.4%. VUSB swung less: 0.8% to 4.8%. VUSB fell less at its worst: −1.7% to −12.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VTEB | VUSB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +2.4% | +20.0% | VUSB | Price change plus distributions, reinvested. |
| Annualized | +0.4% | +3.3% | VUSB | Total return as a yearly rate. |
| Price return | −12.0% | −1.0% | VUSB | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 4.8% | 0.8% | VUSB | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 3.7% | 0.6% | VUSB | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −12.3% | −1.7% | VUSB | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.63 | −0.33 | VUSB | Return above Treasury bills per unit of volatility. |
| Sortino | −0.82 | −0.45 | VUSB | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.03 | 1.96 | VUSB | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 288 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VTEB and VUSB hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
VTEB and VUSB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VTEB and VUSB 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 VUSB follows No index, actively managed.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Jul 31, 2026 and Jun 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 VTEB returned −0.4% and VUSB +3.5% with distributions reinvested, a gap of 3.9 points.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
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.
VUSB
VUSB is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +3.5% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.10% a year.
Questions people ask
- Which returned more over the last year, VTEB or VUSB?
- In the year to Oct 28, 2026, with distributions reinvested, VTEB returned −0.4% and VUSB +3.5%.
- Which is cheaper, VTEB or VUSB?
- VTEB is cheaper, by 0.07 percentage points a year. That is about $7 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 VUSB, data as of Oct 28, 2026. https://etfiq.com/compare/any/vteb-vs-vusb
ETFIQ. (Oct 28, 2026). VTEB against VUSB. Retrieved from https://etfiq.com/compare/any/vteb-vs-vusb
[VTEB against VUSB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/vteb-vs-vusb)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.