- CUSIP
- 922907688
- Issuer
- Vanguard
- Inception Date
- May 20, 2025
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P 10+ Year National AMT-Free Municipal Bond Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
Highlights
- Avg. Volume (1M)
- 45K
- Avg. Volume Value (1M)
- $4.59M
Share Price Chart
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Performance
VTEL Performance Chart
Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) is up 0.4% since the beginning of the year. VTEL is currently trading at $102 per share.
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Returns By Period
Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) has returned 0.35% so far this year and 6.25% over the past 12 months.
Vanguard Long-Term Tax-Exempt Bond ETF
- 1D
- -0.03%
- 1M
- -2.44%
- 6M
- -0.12%
- YTD
- 0.35%
- 1Y
- 6.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.83%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
VTEL Monthly Returns History
Based on dividend-adjusted daily data since May 22, 2025, VTEL's average daily return is +0.02%, while the average monthly return is +0.46%. At this rate, an investment would double in approximately 12.6 years.
Historically, 73% of months were positive and 27% were negative. The best month was Sep 2025 with a return of +3.6%, while the worst month was Mar 2026 at -2.5%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 1 months.
On a daily basis, VTEL closed higher 57% of trading days. The best single day was Aug 1, 2025 with a return of +0.9%, while the worst single day was Mar 20, 2026 at -1.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.46% | 1.60% | -2.49% | 1.63% | 0.35% | 1.20% | -2.31% | 0.35% | |||||
| 2025 | 0.27% | 0.57% | -1.10% | 1.15% | 3.59% | 1.77% | 0.36% | -0.12% | 6.61% |
Benchmark Metrics
Vanguard Long-Term Tax-Exempt Bond ETF has an annualized alpha of 4.18%, beta of 0.08, and R2 of 0.06 versus S&P 500 Index. Calculated based on daily prices since May 22, 2025.
- This ETF participated in 31.85% of S&P 500 Index downside but only 24.08% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.08 may look defensive, but with R2 of 0.06 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.06 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.18%
- Beta
- 0.08
- R²
- 0.06
- Upside Capture
- 24.08%
- Downside Capture
- 31.85%
Expense Ratio
VTEL has an expense ratio of 0.09%, which is considered low.
Return for Risk
Risk / Return Rank
VTEL ranks 76 for risk / return — above 76% of ETFs peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VTEL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.25 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 2.00 | +0.26 |
| Martin ratioReturn relative to average drawdown | 7.64 | 8.49 | -0.85 |
Dividends
Dividend History
Vanguard Long-Term Tax-Exempt Bond ETF provided a 3.51% dividend yield over the last twelve months, with an annual payout of $3.59 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $3.59 | $2.31 |
Dividend yield | 3.51% | 2.23% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Long-Term Tax-Exempt Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.33 | $0.31 | $0.34 | $0.34 | $0.33 | $0.34 | $1.99 | |||||
| 2025 | $0.47 | $0.25 | $0.32 | $0.30 | $0.31 | $0.67 | $2.31 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Long-Term Tax-Exempt Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard Long-Term Tax-Exempt Bond ETF was 3.22%, occurring on Mar 24, 2026. Recovery took 60 trading sessions.
The current Vanguard Long-Term Tax-Exempt Bond ETF drawdown is 2.57%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-3.22%Mar 2026 | 22d | 2mo 26d | 3mo 18dMar 2026 - Jun 2026 | — |
-2.83%Jul 2026 | 16d | — | 27dJul 2026 - now | — |
-1.98%Jul 2025 | 16d | 1mo 17d | 2mo 3dJul 2025 - Sep 2025 | — |
-0.99%Jun 2025 | 9d | 24d | 1mo 3dMay 2025 - Jun 2025 | 2025 selloff2025 |
-0.67%Dec 2025 | 11d | 24d | 1mo 5dDec 2025 - Jan 2026 | — |
Drawdown Indicators
| VTEL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.22% | -56.78% | +53.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -9.10% | +5.88% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.57% | -1.58% | -0.99% |
Average DrawdownAverage peak-to-trough decline | -0.62% | -10.70% | +10.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 2.14% | -1.19% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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