Vanguard Short-Term Tax-Exempt Bond ETF (VTES) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with VTES. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to VTES
VTES charges 0.07% annually. There are 6 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.03% | 48.80B | Aug 2015 | VTES vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 3.93B | Oct 2022 | VTES vs SCMB | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.01M | Aug 2025 | VTES vs TAXT | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | VTES vs FMUN | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 169.01M | Aug 2025 | VTES vs TAXI |
Best Risk-Adjusted Alternatives to VTES
VTES has a PortfoliosLab risk / return rank of 58. There are 92 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | VTES vs MYMF | |
| State Street My2027 Municipal Bond ETF | 97 | 8.63M | Sep 2024 | VTES vs MYMG | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | VTES vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 246.47M | Nov 2018 | VTES vs FUMB | |
| Goldman Sachs Ultra Short Municipal Income ETF | 97 | 54.13M | Jul 2024 | VTES vs GUMI |
Top Performing VTES Alternatives (YTD)
VTES is at 0.37% YTD. There are 94 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 3.71%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| X-Square Municipal Income Tax Free ETF | 3.71% | 4.54M | May 2023 | VTES vs ZTAX | |
| NYLI MacKay Muni Allocation ETF | 2.42% | 28.01M | Dec 2025 | VTES vs MMMA | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 2.38% | 142.95M | Jun 2013 | VTES vs RVNU | |
| Overlay Shares Municipal Bond ETF | 2.26% | 30.60M | Sep 2019 | VTES vs OVM | |
| T. Rowe Price High Income Municipal ETF | 2.25% | 26.19M | Nov 2025 | VTES vs THYM |
Lowest Volatility Alternatives to VTES
VTES has 1.31% 1-year volatility. There are 20 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 34.95M | Sep 2025 | VTES vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.69% | 8.74M | Sep 2024 | VTES vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 445.30M | Oct 2007 | VTES vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.76% | 30.06M | Jul 2025 | VTES vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.84% | 246.47M | Nov 2018 | VTES vs FUMB |
Lowest Drawdown Alternatives to VTES
VTES has a 1-year max drawdown of -1.47%. There are 29 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 246.47M | Nov 2018 | VTES vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 270.83M | Sep 2019 | VTES vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 54.13M | Jul 2024 | VTES vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.63M | Sep 2024 | VTES vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 576.01M | Apr 2019 | VTES vs IBMO |
Other ETFs from Vanguard
The 10 most viewed Vanguard ETFs shown here include VOO, VTI, VGT and span 8 categories. AUM among these funds goes as high as $2T.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | S&P 500 | 68 | 10.16% | 1.70T | Sep 2010 | VTES vs VOO | |
| Vanguard Total Stock Market ETF | Large Cap Blend Equities | 67 | 10.49% | 2.30T | May 2001 | VTES vs VTI | |
| Vanguard Information Technology ETF | Technology Equities | 52 | 20.36% | 169.20B | Mar 2004 | VTES vs VGT | |
| Vanguard Total International Stock ETF | Global Equities | 71 | 12.75% | 651.00B | Jan 2011 | VTES vs VXUS | |
| Vanguard Growth ETF | Large Cap Growth Equities | 28 | 5.02% | 378.80B | Jan 2004 | VTES vs VUG | |
| Vanguard Total World Stock ETF | Global Equities | 70 | 11.15% | 97.00B | Jun 2008 | VTES vs VT | |
| Vanguard High Dividend Yield ETF | Dividend | 90 | 14.21% | 96.20B | Nov 2006 | VTES vs VYM | |
| Vanguard Total Bond Market ETF | Total Bond Market | 29 | -0.54% | 398.10B | Apr 2007 | VTES vs BND | |
| Vanguard Dividend Appreciation ETF | Dividend | 75 | 9.71% | 129.60B | Apr 2006 | VTES vs VIG | |
| Vanguard Value ETF | Large Cap Value Equities | 93 | 16.37% | 254.20B | Jan 2004 | VTES vs VTV |
Often Compared With VTES
Investors most often compare VTES with SUB, VSDM, VGSH. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare VTES with Any Fund or Stock
Compare VTES with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair VTES with funds that move differently
Vanguard Short-Term Tax-Exempt Bond ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to VTES.
Explore VTES Diversifiers