VTEI vs. SCMB
Compare and contrast key facts about Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) and Schwab Municipal Bond ETF (SCMB).
VTEI and SCMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VTEI is a passively managed fund by Vanguard that tracks the performance of the S&P Intermediate Term National AMT-Free Municipal Bond Index. It was launched on Jan 29, 2024. SCMB is a passively managed fund by Charles Schwab that tracks the performance of the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. It was launched on Oct 11, 2022. Both VTEI and SCMB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
VTEI vs. SCMB - Performance Comparison
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VTEI vs. SCMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF | -0.38% | 4.59% | 1.55% |
SCMB Schwab Municipal Bond ETF | -0.51% | 3.78% | 1.55% |
Returns By Period
In the year-to-date period, VTEI achieves a -0.38% return, which is significantly higher than SCMB's -0.51% return.
VTEI
- 1D
- 0.15%
- 1M
- -2.32%
- YTD
- -0.38%
- 6M
- 1.16%
- 1Y
- 4.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SCMB
- 1D
- 0.24%
- 1M
- -2.42%
- YTD
- -0.51%
- 6M
- 1.25%
- 1Y
- 3.88%
- 3Y*
- 2.44%
- 5Y*
- —
- 10Y*
- —
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VTEI vs. SCMB - Expense Ratio Comparison
VTEI has a 0.08% expense ratio, which is higher than SCMB'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%.
Return for Risk
VTEI vs. SCMB — Risk / Return Rank
VTEI
SCMB
VTEI vs. SCMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) and Schwab Municipal Bond ETF (SCMB). 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.
| VTEI | SCMB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.25 | 0.94 | +0.31 |
Sortino ratioReturn per unit of downside risk | 1.58 | 1.22 | +0.36 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.21 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.05 | +0.28 |
Martin ratioReturn relative to average drawdown | 4.44 | 2.98 | +1.47 |
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
| VTEI | SCMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 0.94 | +0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.90 | -0.04 |
Correlation
The correlation between VTEI and SCMB is 0.76, 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
VTEI vs. SCMB - Dividend Comparison
VTEI's dividend yield for the trailing twelve months is around 3.05%, less than SCMB's 3.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF | 3.05% | 3.00% | 2.65% | 0.00% | 0.00% |
SCMB Schwab Municipal Bond ETF | 3.38% | 3.36% | 3.34% | 3.10% | 0.59% |
Drawdowns
VTEI vs. SCMB - Drawdown Comparison
The maximum VTEI drawdown since its inception was -3.64%, smaller than the maximum SCMB drawdown of -6.13%. Use the drawdown chart below to compare losses from any high point for VTEI and SCMB.
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Drawdown Indicators
| VTEI | SCMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.64% | -6.13% | +2.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -3.79% | +0.46% |
Current DrawdownCurrent decline from peak | -2.32% | -2.42% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -0.73% | -1.32% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.34% | -0.34% |
Volatility
VTEI vs. SCMB - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) is 1.17%, while Schwab Municipal Bond ETF (SCMB) has a volatility of 1.47%. This indicates that VTEI experiences smaller price fluctuations and is considered to be less risky than SCMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTEI | SCMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.47% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 2.02% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 4.15% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.09% | 4.22% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.09% | 4.22% | -1.13% |