Data as of Oct 28, 2026.
VTEB vs XLV: Differences, Returns & Fees
Over the year to Oct 28, 2026, VTEB returned −0.4% to XLV's +25.6%; 0% of their weight is in the same names.
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Net assets: $49.6bn on Sep 30, 2026 for Vanguard Tax-Exempt Bond ETF, and $47.0bn on Oct 27, 2026 for State Street Health Care Select Sector SPDR ETF.
Pair scorecard
VTEB costs 0.05 points a year less; their one-year returns differ by 26.0 points; VTEB is 1.1 times larger.
| Measure | VTEB | XLV |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.4% | +25.6% |
| Benchmark | ||
| What it tracks | S&P National AMT-Free Municipal Bond Index | Health Care Select Sector Index |
| Cost and size | ||
| Expense ratio | 0.03% | 0.08% |
| Net assets, as of Sep 30, 2026 | $49.6bn | $43.4bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 60.6% | |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Sep 4, 2015 to Oct 23, 2026 · 581 weekly returnsXLV returned more: +214.6% to +26.3%. VTEB swung less: 6.7% to 16.8%. VTEB fell less at its worst: −14.8% to −24.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VTEB | XLV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +26.3% | +214.6% | XLV | Price change plus distributions, reinvested. |
| Annualized | +2.1% | +10.8% | XLV | Total return as a yearly rate. |
| Price return | −2.9% | +161.0% | XLV | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 6.7% | 16.8% | VTEB | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 4.6% | 11.7% | VTEB | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −14.8% | −24.3% | VTEB | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.00 | 0.56 | XLV | Return above Treasury bills per unit of volatility. |
| Sortino | 0.01 | 0.81 | XLV | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.14 | 0.44 | XLV | 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, VTEB and XLV hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
VTEB and XLV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VTEB and XLV 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 XLV follows Health Care Select Sector Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Sep 30, 2026 and Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 VTEB returned −0.4% and XLV +25.6% with distributions reinvested, a gap of 26.0 points.
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.
XLV
XLV tracks an index of Health care. Over the year to Oct 28, 2026 it returned +25.6% with distributions reinvested. The prospectus expense ratio is 0.08% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 62 positions, with the top ten at 60.6%.
Questions people ask
- Which returned more over the last year, VTEB or XLV?
- In the year to Oct 28, 2026, with distributions reinvested, VTEB returned −0.4% and XLV +25.6%.
- Which is cheaper, VTEB or XLV?
- 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.
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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 XLV, data as of Oct 28, 2026. https://etfiq.com/compare/any/vteb-vs-xlv
ETFIQ. (Oct 28, 2026). VTEB against XLV. Retrieved from https://etfiq.com/compare/any/vteb-vs-xlv
[VTEB against XLV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/vteb-vs-xlv)
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