VIGI vs. VTEB
VIGI (Vanguard International Dividend Appreciation ETF) and VTEB (Vanguard Tax-Exempt Bond ETF) are both exchange-traded funds - VIGI is a Dividend fund tracking the S&P Global Ex-U.S. Dividend Growers Index, while VTEB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 10 years, VIGI returned 8.31%/yr vs 2.03%/yr for VTEB. At a 0.12 correlation, their price movements are largely independent. VIGI charges 0.15%/yr vs 0.03%/yr for VTEB.
Performance
VIGI vs. VTEB - Performance Comparison
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Returns By Period
In the year-to-date period, VIGI achieves a 3.10% return, which is significantly higher than VTEB's 1.44% return. Over the past 10 years, VIGI has outperformed VTEB with an annualized return of 8.31%, while VTEB has yielded a comparatively lower 2.03% annualized return.
VIGI
- 1D
- -0.22%
- 1M
- 0.88%
- YTD
- 3.10%
- 6M
- 3.92%
- 1Y
- 6.49%
- 3Y*
- 9.51%
- 5Y*
- 4.27%
- 10Y*
- 8.31%
VTEB
- 1D
- -0.08%
- 1M
- 0.78%
- YTD
- 1.44%
- 6M
- 1.95%
- 1Y
- 6.57%
- 3Y*
- 3.44%
- 5Y*
- 0.80%
- 10Y*
- 2.03%
VIGI vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIGI Vanguard International Dividend Appreciation ETF | 3.10% | 16.88% | 2.73% | 16.30% | -16.79% | 12.51% | 14.66% | 27.53% | -11.50% | 27.97% |
VTEB Vanguard Tax-Exempt Bond ETF | 1.44% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 1.04% | 4.87% |
Correlation
The correlation between VIGI and VTEB is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2016 | 0.12 |
Over the past year, VIGI and VTEB have become more correlated (0.35) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
VIGI vs. VTEB — Risk / Return Rank
VIGI
VTEB
VIGI vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard International Dividend Appreciation ETF (VIGI) 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.
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.
| VIGI | VTEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.51 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 2.35 | -1.87 |
| Martin ratioReturn relative to average drawdown | 1.70 | 8.30 | -6.60 |
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Drawdowns
VIGI vs. VTEB - Drawdown Comparison
The maximum VIGI drawdown since its inception was -31.01%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for VIGI and VTEB.
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Drawdown Indicators
| VIGI | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.01% | -17.00% | -14.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.64% | -2.71% | -7.93% |
Max Drawdown (3Y)Largest decline over 3 years | -14.50% | -5.53% | -8.97% |
Max Drawdown (5Y)Largest decline over 5 years | -28.80% | -12.64% | -16.16% |
Max Drawdown (10Y)Largest decline over 10 years | -31.01% | -17.00% | -14.01% |
Current DrawdownCurrent decline from peak | -2.03% | -0.54% | -1.49% |
Average DrawdownAverage peak-to-trough decline | -6.17% | -2.32% | -3.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 0.77% | +2.27% |
Volatility
VIGI vs. VTEB - Volatility Comparison
Vanguard International Dividend Appreciation ETF (VIGI) has a higher volatility of 3.35% compared to Vanguard Tax-Exempt Bond ETF (VTEB) at 0.93%. This indicates that VIGI'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
| VIGI | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 0.93% | +2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 10.40% | 2.04% | +8.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.20% | 2.70% | +10.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.47% | 3.90% | +10.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.87% | 5.26% | +10.61% |
VIGI vs. VTEB - Expense Ratio Comparison
VIGI has a 0.15% expense ratio, which is higher than VTEB's 0.03% 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
VIGI vs. VTEB - Dividend Comparison
VIGI's dividend yield for the trailing twelve months is around 2.14%, less than VTEB's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIGI Vanguard International Dividend Appreciation ETF | 2.14% | 2.14% | 1.93% | 1.92% | 2.06% | 7.02% | 1.29% | 1.83% | 1.99% | 1.75% | 1.05% | 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
VIGI and VTEB have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIGI has higher volatility (3.35%) compared to VTEB (0.93%). In terms of maximum drawdown, VIGI dropped -31.01% vs VTEB's -17.00%.
On 10-year performance, VIGI leads with 8.31% vs 2.03% for VTEB. On fees, VTEB is cheaper at 0.03% per year. On volatility, VTEB has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VIGI has performed better with a 8.31% return vs 2.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTEB is cheaper with a 0.03% expense ratio, compared with 0.15% for VIGI.
VTEB has the higher dividend yield at 3.36%, compared with 2.14% for VIGI.
VIGI is categorized as Dividend, while VTEB is Municipal Bonds. VIGI tracks S&P Global Ex-U.S. Dividend Growers Index, while VTEB tracks S&P National AMT-Free Municipal Bond Index. Their fees differ too: 0.15% for VIGI and 0.03% for VTEB.
VTEB currently has the higher Sharpe Ratio (2.38 vs 0.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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