VTEI vs. TQQQ
Compare and contrast key facts about Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) and ProShares UltraPro QQQ (TQQQ).
VTEI and TQQQ 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. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both VTEI and TQQQ 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. TQQQ - Performance Comparison
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VTEI vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF | -0.10% | 4.59% | 1.55% |
TQQQ ProShares UltraPro QQQ | -17.87% | 34.35% | 43.47% |
Returns By Period
In the year-to-date period, VTEI achieves a -0.10% return, which is significantly higher than TQQQ's -17.87% return.
VTEI
- 1D
- 0.28%
- 1M
- -1.86%
- YTD
- -0.10%
- 6M
- 1.30%
- 1Y
- 4.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TQQQ
- 1D
- 3.72%
- 1M
- -12.88%
- YTD
- -17.87%
- 6M
- -17.28%
- 1Y
- 48.52%
- 3Y*
- 46.87%
- 5Y*
- 13.55%
- 10Y*
- 35.31%
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VTEI vs. TQQQ - Expense Ratio Comparison
VTEI has a 0.08% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Return for Risk
VTEI vs. TQQQ — Risk / Return Rank
VTEI
TQQQ
VTEI vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) and ProShares UltraPro QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.24 | 0.72 | +0.52 |
Sortino ratioReturn per unit of downside risk | 1.56 | 1.41 | +0.15 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.20 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.41 | -0.04 |
Martin ratioReturn relative to average drawdown | 4.52 | 4.28 | +0.23 |
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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 0.72 | +0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.65 | +0.26 |
Correlation
The correlation between VTEI and TQQQ is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VTEI vs. TQQQ - Dividend Comparison
VTEI's dividend yield for the trailing twelve months is around 3.05%, more than TQQQ's 0.73% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF | 3.05% | 3.00% | 2.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.73% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Drawdowns
VTEI vs. TQQQ - Drawdown Comparison
The maximum VTEI drawdown since its inception was -3.64%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for VTEI and TQQQ.
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Drawdown Indicators
| VTEI | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.64% | -81.66% | +78.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -36.97% | +33.64% |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -2.05% | -28.08% | +26.03% |
Average DrawdownAverage peak-to-trough decline | -0.73% | -18.66% | +17.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 12.13% | -11.12% |
Volatility
VTEI vs. TQQQ - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) is 1.14%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 19.74%. This indicates that VTEI experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTEI | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 19.74% | -18.60% |
Volatility (6M)Calculated over the trailing 6-month period | 1.55% | 38.50% | -36.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 67.35% | -63.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.09% | 66.53% | -63.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.09% | 65.83% | -62.74% |