How has VTEB performed?

Over the year to Oct 28, 2026, VTEB returned −0.4% with distributions reinvested. Over three years the number is +13.0%.

The prospectus expense ratio is 0.03% a year.

How far is VTEB below its high?

2.9% below its high of Jul 6, 2026, measured on the reinvested series to Oct 28, 2026.

What dividend does VTEB pay?

VTEB pays monthly. The last distribution was $0.1372 a share, which went ex on Oct 1, 2026.

VTEB · Vanguard Tax-Exempt Bond ETF

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$48.67

0.0% · 1 day, price

IQ’s readingComputed nightly from ETFIQ data. Not written live.

VTEB tracks an index of Tax-Exempt Bond and returned −0.4% over the past year.

What drove VTEB’s returns?What would a 1-point rise in rates do to VTEB?What does VTEB cost to hold and to trade?

Bond fund · Tracks the S&P National AMT-Free Municipal Bond IndexVanguard ↗Expense ratio 0.03%Fund assets $49.6bn on Sep 30, 2026First traded Aug 25, 2015Benchmark Its own holdings, as of Sep 30, 2026; no other fund tracks the S&P National AMT-Free Municipal Bond Index, the index its prospectus namesFund page at the issuer ↗SEC filings ↗Every Vanguard fund ETFIQ covers Dividend history

VTEB paid $0.1372 a share, ex-date Oct 1, 2026, and 3.4% of its price in cash over the year to Oct 28, 2026.

Promise check: Not measuredNo other ETF tracks the index it names, so its tracking cannot be measured.

Compare with…Trading costs Put to the committee askIQ about VTEB Add to portfolio Flows Alerts

VTEB risk and return scorecard

vs its own holdings

Not measured: its benchmark is its own holdings, which has no weekly price series.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

What you earned

VTEB +3.4%: total return over one month to Oct 28, 2026.

VTEB

+3.4%

VTEB −1.2%: total return over three months to Oct 28, 2026.

VTEB

−1.2%

VTEB −1.6%: total return over six months to Oct 28, 2026.

VTEB

−1.6%

VTEB −0.7%: total return over the year to Oct 28, 2026.

VTEB

−0.7%

VTEB −0.4%: total return over one year to Oct 28, 2026.

VTEB

−0.4%

VTEB +13.0%: total return over three years to Oct 28, 2026.

VTEB

+13.0%

VTEB +2.7%: total return over five years to Oct 28, 2026.

VTEB

+2.7%

VTEB +20.5%: total return over ten years to Oct 28, 2026.

VTEB

+20.5%

VTEB +26.5%: total return since launch to Oct 28, 2026.

VTEB

+26.5%

askIQ: what drove VTEB’s returns? ↗

What does it hold, and how long?

Holdings filed for Jul 31, 2026 (N-PORT)

−0.4%

Total return, 1 year

to Oct 28, 2026

Report

0.03%

Expense ratio

Report

11155

Holdings

as of Sep 30, 2026

Report

−2.9%

Below its high

to Oct 28, 2026

Report

3.4%

12-month yield, capital gains included, on its starting price

to Oct 28, 2026

Report

$0.1372

Last payment (paid monthly), ex-date Oct 1, 2026

Report

Maturity

Under 1 yr

3.4%

1 to 3 yrs

7.3%

3 to 5 yrs

7.6%

5 to 10 yrs

18.9%

10 to 20 yrs

31.0%

Over 20 yrs

30.7%

What it holds

Municipal 98.9%Cash and repo 0.7%

askIQ: what would a 1-point rise in rates do to VTEB? ↗

More on VTEB

Every number below is on this page. Open what you need.

Price and total return, 1 year

$48.670.0%1 day, priceClose, Oct 28, 2026

−6%−4%−2%0%2%Total return −0.4%Price −3.7%

Oct 28, 2025Oct 28, 2026

Price −3.7%Total return −0.4%

Total return adds every distribution, reinvested. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Report a data error

VTEB returns by window: total return, cash paid and price change
Window	Total return
1M Sep 28 – Oct 28, 2026	+3.4%
3M Jul 29 – Oct 28, 2026	−1.2%
6M Apr 29 – Oct 28, 2026	−1.6%
YTD Dec 31, 2025 – Oct 28, 2026	−0.7%
1Y Oct 28, 2025 – Oct 28, 2026	−0.4%
3Y Oct 27, 2023 – Oct 28, 2026	+13.0%
5Y Oct 29, 2021 – Oct 28, 2026	+2.7%
10Y Oct 28, 2016 – Oct 28, 2026	+20.5%
Since launch Aug 25, 2015 – Oct 28, 2026	+26.5%
Since launch, annualised Aug 25, 2015 – Oct 28, 2026	+2.1%

Total returns, distributions reinvested.

Source: Tiingo end-of-day prices, with distributions reinvested.

Where every fund in this set sits

How far can rates rise in a year before the year's income is gone?

Rate cushion

0.46 pts to 0.98 pts across 23

That is the share of the 23 national municipal bond ETFs with an intermediate duration sitting at or below VTEB.

One year's income against today's duration; it ignores credit risk, and both numbers move. Where the fund sits in this set, not a rating. Do not average it with another category's score.

19.6

IQ Bonds ScoreETFIQ Rate Cushion Score19th of 23 · Oct 28, 2026

4.3 · lowest of 23 national municipal bond ETFs with an intermediate duration97.8 · highest

How far rates could rise before a year's income is gone, ranked against 23 national municipal bond ETFs with an intermediate duration. 100 is best. How it is computed

VTEB paid 3.49% of its NAV in income over the year to Oct 27, 2026, with a duration of 7.30 years: rates could rise 0.48 percentage points in a year before that income was gone.

rate cushion0.48 pts · 20th pct

All 23 ranked by this score →

Money in and out

Monthly data · as of Jul 31, 2026

VTEB’s fund, all share classes together: in the month to Jul 31, 2026, net $721m came in, by its SEC filing.

Computed by ETFIQ from the monthly sales and redemptions VTEB files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Jul 2026. The filing covers all share classes of the fund, not the ETF alone: Vanguard sells its ETF as one share class of a fund that also has mutual fund shares. Every day and month ETFIQ holds for VTEB, back to Aug 2019, is in its flows file. Flows across every fund · How these flows are computed · Compare VTEB with other funds in the flows tool

Month by month, money in and money outAug 2023 to Jul 2026

in, up to +$2.2bn

out, down to −$2.4bnAug 2023Jul 2026

VTEB, all share classes of its fund, money in and money out each month from Aug 2023 to Jul 2026: two bars a month, money in above the line and money out below. Every bar is from VTEB’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 31 and went out in 5.

Every bar is from VTEB’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 31 and went out in 5.

MonthInOutNet

Jul 2026 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.5bn−$796m+$721m

Jun 2026 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.7bn−$718m+$990m

May 2026 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$2.1bn−$172m+$1.9bn

Apr 2026 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.6bn−$608m+$1.0bn

Mar 2026 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.4bn−$1.0bn+$399m

Feb 2026 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$344m−$2.3bn−$2.0bn

Jan 2026 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.4bn−$373m+$1.0bn

Dec 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$884m−$121m+$764m

Nov 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$996m−$367m+$629m

Oct 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.2bn−$99.7m+$1.1bn

Sep 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$918m−$480m+$438m

Aug 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$980m−$418m+$562m

Jul 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$982m−$604m+$378m

Jun 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$2.1bn−$238m+$1.9bn

May 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$620m−$656m−$35.9m

Apr 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.6bn−$1.2bn+$344m

Mar 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$753m−$1.1bn−$325m

Feb 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.1bn−$659m+$418m

Jan 2025 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.0bn−$582m+$437m

Dec 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$889m−$1.0bn−$155m

Nov 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.6bn−$705m+$859m

Oct 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.2bn−$306m+$897m

Sep 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$748m−$271m+$478m

Aug 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.1bn−$601m+$452m

Jul 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$856m−$291m+$565m

Jun 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$841m−$498m+$343m

May 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$815m−$715m+$99.9m

Apr 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.0bn−$607m+$420m

Mar 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$801m−$323m+$478m

Feb 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$491m−$477m+$14.6m

Jan 2024 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$560m−$440m+$120m

Dec 2023 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$946m−$598m+$348m

Nov 2023 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$1.8bn−$480m+$1.3bn

Oct 2023 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$2.0bn−$474m+$1.5bn

Sep 2023 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$419m−$1.0bn−$582m

Aug 2023 SEC Form N-PORT, all share classes of the fund, not the ETF alone+$798m−$387m+$410m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Jul 31, 2026. Updated when the fund files its next report.

VTEB key stats

52-week high, daily closes to Oct 28, 2026 (ETFIQ)$51.15 on Feb 27, 2026

52-week low, daily closes to Oct 28, 2026 (ETFIQ)$46.94 on Sep 29, 2026

Close on Oct 28, 2026, within that range (ETFIQ)$48.67, 41% of the way from the low to the high

Holdings11155

Top ten weight1.8%

Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Oct 27, 2026

Trading · VTEBas of Oct 27, 2026

Not scored2 of 6 measured · Oct 27, 2026

0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant

Cost for your order · one way, half its 30-day median spread

$1,000$0.110.011%

$10,000$1.050.011%

Premium or discount to NAV, Oct 27 close+0.04%

−0.2%95% of days within ±0.15% · the 1% band is off this scale+0.2%

How to tradeLimit: midpoint + 1¢ to buy, midpoint − 1¢ to sell.At the Oct 27 close of $48.69, that’s $48.70 to buy and $48.68 to sell.

Full trading page: components, premium history, dealers →

Also against SPY, VUG, VEA, AGG, SCHD, QQQM, VIG, ITOT, BNDX, VT, VCIT, XLF, IUSB, BIL, TLT, XLV, BSV, SCHB, VCSH, ACWI, LQD, SHY, XLU, XLY, VTIP, PULS, IGIB, HYG, USFR, BINC, SCHP, TIP, VBIL, EWT, VGLT, VUSB, BOND, VPU, VCLT, HYMB, SPHD, FMB, JMUB, PZA, TFI, FLMI, LMUB, TAFM, IVV, VTI, QQQ, IEFA, SPYM, VTV, VXUS, VGT, IEMG, GLD, VWO, XLK, IWF, IJH, IJR, VO, RSP, IWD, VYM, VB, EFA, IWM, SCHX, SCHF, VEU, SCHG, IAU, IXUS, SPYG, IWB, QUAL, VONG, DIA, XLE, DGRO, IEF, GOVT, DYNF, CGDV, VNQ, MBB, VBR, VGSH, MGK, IDEV, JAAA, AVUV, XLI, GLDM, VXF, VGK, EEM, VOOG, FNDX, AVEM, EMXC, SLV, USHY, MDY, CGGR, GDX, RDVY, IYW, EWY, USMV, EWJ, IGSB, DVY, VBK, VOE, AVLV, SPMO, FTEC, XLC, SDY, SHV, VYMI, DFUS, AVDV, COWZ, VHT, SPHQ, MTUM, ACWX, IEI, VTWO, DGRW, MINT, HDV, AVUS, XLP, BOXX, PVAL, IWO, EMB, XLG, PFF, MOAT, NOBL, FENI, SPSB, SCHH, IGM, IBB, ONEQ, VDE, XBI, EWZ, FDVV, VLUE, EZU, VPL, URTH, AIRR, XLB, XLRE, PDBC, CGBL, IJS, FBCG, SPYD, IJT, VDC, VOX, JNK, INDA, MAGS, HGER, XOP, GRNY, KRE, AOR, IYR, FXI, SIVR, EDV, GARP, ILF, XOVR, USO, FLKR, IYE, BITO, REMX, XHB, IWC, XRT, BWET, LYTE.

About VTEB

What it tracksS&P National AMT-Free Municipal Bond Index

Fund typeBond fund

Category (ETFIQ)Bonds · Municipal, national, long

Expense ratio (485BPOS XBRL, Feb 27, 2026)0.03%

Price$48.67

First tradedAug 25, 2015

Net assets (the issuer’s own number for this ETF, month end, as of Sep 30, 2026)$49.6bnReport

Benchmark (ETFIQ, from its filings)Its own holdings, as of Sep 30, 2026; no other fund tracks the S&P National AMT-Free Municipal Bond Index, the index its prospectus names

Below its high (ETFIQ)−2.9%

Holdings11155

Top ten weight1.8%

Holdings as of (the issuer’s month-end file)Sep 30, 2026

IQ Investment Committee on VTEB

12 seats on VTEB, as of Oct 28, 2026: 1 Supports, 2 Mixed, 6 Not enough data, 3 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostSupports

In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data

In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data

In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data

In the tradition ofJohn TempletonTempleton-style Global ContrarianDoes not apply

In the tradition ofRay DalioDalio-style All-WeatherNot enough data

In the tradition ofHoward MarksMarks-style Cycles & RiskNot enough data

In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityDoes not apply

In the tradition ofDavid SwensenSwensen-style DiversificationMixed

In the tradition ofCathie WoodWood-style Disruptive InnovationDoes not apply

In the tradition ofJesse LivermoreLivermore-style Trend FollowingMixed

Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatNot enough data

Put VTEB to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about VTEB

How has VTEB performed?: Over the year to Oct 28, 2026, VTEB returned −0.4% with distributions reinvested. Over three years the number is +13.0%.
What does VTEB cost?: The prospectus expense ratio is 0.03% a year.
How far is VTEB below its high?: 2.9% below its high of Jul 6, 2026, measured on the reinvested series to Oct 28, 2026.
What dividend does VTEB pay?: VTEB pays monthly. The last distribution was $0.1372 a share, which went ex on Oct 1, 2026.

Sources and dates

Prices, VTEBTiingo end-of-day · Oct 28, 2026

Fee, 0.03%Prospectus filing with the expense ratio (SEC) ↗

Net assets, $49.6bnThe issuer’s own number for this ETF, month end · Sep 30, 2026

IssuerHoldings, the issuer’s own month-end file ↗

IssuerVanguard page for VTEB ↗

All fund filingsFund filings on SEC EDGAR ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →

Cite this pageCitation, APA and Markdown

ETFIQ, VTEB, bond fund, data as of Oct 28, 2026. https://etfiq.com/funds/vteb

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Muni Bond ETFs→Vanguard ETFs: Every Fund and Its Fee→

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VTEB: VTEB over 1 year: total return −0.4%. Data to Oct 28, 2026.

<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/vteb"><img src="https://etfiq.com/assistant/api/embed/core/vteb.svg" alt="VTEB: VTEB over 1 year: total return −0.4%. Data to Oct 28, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">VTEB: VTEB over 1 year: total return −0.4%. Data to Oct 28, 2026. Data: <a href="https://etfiq.com/funds/vteb">ETFIQ</a></figcaption>
</figure>

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