TAXF vs. VTEB
Compare and contrast key facts about American Century Diversified Municipal Bond ETF (TAXF) and Vanguard Tax-Exempt Bond ETF (VTEB).
TAXF and VTEB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TAXF is an actively managed fund by American Century. It was launched on Sep 10, 2018. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Performance
TAXF vs. VTEB - Performance Comparison
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TAXF vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TAXF American Century Diversified Municipal Bond ETF | 0.03% | 4.30% | 1.74% | 7.33% | -9.64% | 2.72% | 5.55% | 8.75% | 0.64% |
VTEB Vanguard Tax-Exempt Bond ETF | -0.23% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 1.53% |
Returns By Period
In the year-to-date period, TAXF achieves a 0.03% return, which is significantly higher than VTEB's -0.23% return.
TAXF
- 1D
- 0.26%
- 1M
- -2.36%
- YTD
- 0.03%
- 6M
- 1.60%
- 1Y
- 5.09%
- 3Y*
- 3.30%
- 5Y*
- 1.03%
- 10Y*
- —
VTEB
- 1D
- 0.24%
- 1M
- -2.18%
- YTD
- -0.23%
- 6M
- 1.34%
- 1Y
- 3.99%
- 3Y*
- 2.67%
- 5Y*
- 0.82%
- 10Y*
- 2.06%
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TAXF vs. VTEB - Expense Ratio Comparison
TAXF has a 0.29% expense ratio, which is higher than VTEB's 0.05% expense ratio.
Return for Risk
TAXF vs. VTEB — Risk / Return Rank
TAXF
VTEB
TAXF vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Diversified Municipal Bond ETF (TAXF) 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.
| TAXF | VTEB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.20 | 1.00 | +0.20 |
Sortino ratioReturn per unit of downside risk | 1.57 | 1.27 | +0.31 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.23 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.20 | +0.08 |
Martin ratioReturn relative to average drawdown | 4.21 | 3.56 | +0.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TAXF | VTEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 1.00 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.21 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.45 | +0.13 |
Correlation
The correlation between TAXF and VTEB is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TAXF vs. VTEB - Dividend Comparison
TAXF's dividend yield for the trailing twelve months is around 3.79%, more than VTEB's 3.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAXF American Century Diversified Municipal Bond ETF | 3.79% | 3.68% | 3.38% | 2.93% | 2.05% | 1.58% | 2.13% | 2.64% | 0.69% | 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% |
Drawdowns
TAXF vs. VTEB - Drawdown Comparison
The maximum TAXF drawdown since its inception was -13.93%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for TAXF and VTEB.
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Drawdown Indicators
| TAXF | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.93% | -17.00% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.00% | -3.45% | -0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -13.93% | -12.64% | -1.29% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.00% | — |
Current DrawdownCurrent decline from peak | -2.36% | -2.18% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -2.35% | -0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 1.17% | +0.05% |
Volatility
TAXF vs. VTEB - Volatility Comparison
American Century Diversified Municipal Bond ETF (TAXF) has a higher volatility of 1.48% compared to Vanguard Tax-Exempt Bond ETF (VTEB) at 1.39%. This indicates that TAXF's price experiences larger fluctuations and is considered to be riskier than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAXF | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.39% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.05% | 1.85% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.26% | 4.00% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.18% | 3.87% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.69% | 5.25% | -0.56% |