FTPA vs. VTEB
FTPA (Franklin Pennsylvania Municipal Income ETF) and VTEB (Vanguard Tax-Exempt Bond ETF) are both Municipal Bonds funds. FTPA is actively managed, while VTEB is passively managed. A 0.78 correlation means they provide meaningful diversification when combined. FTPA charges 0.35%/yr vs 0.03%/yr for VTEB.
Performance
FTPA vs. VTEB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FTPA achieves a 2.33% return, which is significantly higher than VTEB's 1.44% return.
FTPA
- 1D
- -0.23%
- 1M
- 0.53%
- YTD
- 2.33%
- 6M
- 2.86%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VTEB
- 1D
- -0.16%
- 1M
- 0.41%
- YTD
- 1.44%
- 6M
- 1.85%
- 1Y
- 6.77%
- 3Y*
- 3.45%
- 5Y*
- 0.87%
- 10Y*
- 2.09%
FTPA vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTPA Franklin Pennsylvania Municipal Income ETF | 2.33% | 0.24% |
VTEB Vanguard Tax-Exempt Bond ETF | 1.44% | 0.35% |
Correlation
The correlation between FTPA and VTEB is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 11, 2025 | 0.78 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FTPA vs. VTEB — Risk / Return Rank
FTPA
VTEB
FTPA vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Pennsylvania Municipal Income ETF (FTPA) and Vanguard Tax-Exempt Bond ETF (VTEB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading charts...
Sharpe Ratios by Period
| FTPA | VTEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.50 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.22 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 0.47 | +0.66 |
Drawdowns
FTPA vs. VTEB - Drawdown Comparison
The maximum FTPA drawdown since its inception was -2.96%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for FTPA and VTEB.
Loading charts...
Drawdown Indicators
| FTPA | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.96% | -17.00% | +14.04% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.71% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.53% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.00% | — |
Current DrawdownCurrent decline from peak | -0.23% | -0.54% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -0.65% | -2.32% | +1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.76% | — |
Volatility
FTPA vs. VTEB - Volatility Comparison
Loading charts...
Volatility by Period
| FTPA | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.91% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.08% | 2.71% | +1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 3.90% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.08% | 5.26% | -1.18% |
FTPA vs. VTEB - Expense Ratio Comparison
FTPA has a 0.35% expense ratio, which is higher than VTEB's 0.03% expense ratio.
Dividends
FTPA vs. VTEB - Dividend Comparison
FTPA's dividend yield for the trailing twelve months is around 2.08%, less than VTEB's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTPA Franklin Pennsylvania Municipal Income ETF | 2.08% | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.36% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Frequently Asked Questions
FTPA and VTEB have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VTEB is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VTEB is cheaper with a 0.03% expense ratio, compared with 0.35% for FTPA.
VTEB has the higher dividend yield at 3.36%, compared with 2.08% for FTPA.
They also come from different issuers: Franklin Templeton and Vanguard. Their fees differ too: 0.35% for FTPA and 0.03% for VTEB.
Find the right allocation for FTPA and VTEB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer