- 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
Share Price Chart
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Performance
VTEL Performance Chart
Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) is up 2.2% since the beginning of the year. VTEL is currently trading at $104 per share.
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Returns By Period
Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) has returned 2.21% so far this year and 8.49% over the past 12 months.
Vanguard Long-Term Tax-Exempt Bond ETF
- 1D
- -0.06%
- 1M
- 1.89%
- YTD
- 2.21%
- 6M
- 2.51%
- 1Y
- 8.49%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
VTEL Monthly Returns History
Based on dividend-adjusted daily data since May 22, 2025, VTEL's average daily return is +0.03%, while the average monthly return is +0.62%. At this rate, an investment would double in approximately 9.3 years.
Historically, 79% of months were positive and 21% 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 59% 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% | 0.69% | 2.21% | ||||||
| 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 6.50%, beta of 0.07, and R2 of 0.06 versus S&P 500 Index. Calculated based on daily prices since May 22, 2025.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (24.08%) than losses (5.37%) - typical of diversified or defensive assets.
- Beta of 0.07 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
- 6.50%
- Beta
- 0.07
- R²
- 0.06
- Upside Capture
- 24.08%
- Downside Capture
- 5.37%
Expense Ratio
VTEL has an expense ratio of 0.09%, which is considered low.
Return for Risk
Risk / Return Rank
VTEL ranks 70 for risk / return — better than 70% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by 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 | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.37 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.78 | -0.14 |
| Martin ratioReturn relative to average drawdown | 9.44 | 12.44 | -3.00 |
Dividends
Dividend History
Vanguard Long-Term Tax-Exempt Bond ETF provided a 3.80% dividend yield over the last twelve months, with an annual payout of $3.96 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $3.96 | $2.31 |
Dividend yield | 3.80% | 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 | $1.65 | ||||||
| 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 0.06%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -3.22%Mar 2026 | 22d | 2mo 26d | 3mo 18dMar 2026 - Jun 2026 |
2025 pullback2025 | -1.98%Jul 2025 | 16d | 1mo 17d | 2mo 3dJul 2025 - Sep 2025 |
2025 selloff2025 | -0.99%Jun 2025 | 9d | 24d | 1mo 3dMay 2025 - Jun 2025 |
2025 pullback2025 | -0.67%Dec 2025 | 11d | 24d | 1mo 5dDec 2025 - Jan 2026 |
2025 pullback2025 | -0.64%Nov 2025 | 2d | 12d | 14dNov 2025 - Nov 2025 |
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 | -0.06% | -1.80% | +1.74% |
Average DrawdownAverage peak-to-trough decline | -0.57% | -10.71% | +10.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 2.03% | -1.13% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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