IBMM vs. VTEB

Last updated Jun 3, 2026

IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) and VTEB (Vanguard Tax-Exempt Bond ETF) are both Municipal Bonds funds - IBMM tracks the S&P AMT-Free Municipal Series Dec 2024 Index while VTEB tracks the S&P National AMT-Free Municipal Bond Index. Both are passively managed. IBMM charges 0.18%/yr vs 0.05%/yr for VTEB.

Performance

IBMM vs. VTEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and Vanguard Tax-Exempt Bond ETF (VTEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VTEB

• 1D: 0.10%
• 1M: 0.61%
• YTD: 1.52%
• 6M: 1.95%
• 1Y: 7.14%
• 3Y*: 3.59%
• 5Y*: 0.93%
• 10Y*: 2.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBMM vs. VTEB - Yearly Performance Comparison

	2026 (YTD)
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%
VTEB Vanguard Tax-Exempt Bond ETF	0.52%

Return for Risk

IBMM vs. VTEB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VTEB

VTEB Risk / Return Rank: 72
VTEB Sharpe Ratio Rank: 80
VTEB Sortino Ratio Rank: 86
VTEB Omega Ratio Rank: 89
VTEB Calmar Ratio Rank: 51
VTEB Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBMM vs. VTEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) 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.

Sharpe Ratios by Period

	IBMM	VTEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.64	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.48	—

Drawdowns

IBMM vs. VTEB - Drawdown Comparison

The maximum IBMM drawdown since its inception was 0.00%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for IBMM and VTEB.

Drawdown Indicators

	IBMM	VTEB	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-17.00%	+17.00%
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 Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	0.00%	-2.33%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.76%	—

Volatility

Volatility by Period

	IBMM	VTEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.90%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	2.72%	-2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	3.90%	-3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	5.26%	-5.26%

IBMM vs. VTEB - Expense Ratio Comparison

IBMM has a 0.18% expense ratio, which is higher than VTEB's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IBMM vs. VTEB - Dividend Comparison

IBMM has not paid dividends to shareholders, while VTEB's dividend yield for the trailing twelve months is around 3.35%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%	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	3.35%	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

Which ETF is better, IBMM or VTEB?

On fees, VTEB is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMM or VTEB?

VTEB is cheaper with a 0.05% expense ratio, compared with 0.18% for IBMM.

Which ETF pays a higher dividend yield, IBMM or VTEB?

VTEB has the higher dividend yield at 3.35%, compared with 0.00% for IBMM.

What is the main difference between IBMM and VTEB?

IBMM tracks S&P AMT-Free Municipal Series Dec 2024 Index, while VTEB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.18% for IBMM and 0.05% for VTEB.