VTEL vs. IBMM

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM).

VTEL and IBMM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VTEL is a passively managed fund by Vanguard that tracks the performance of the S&P 10+ Year National AMT-Free Municipal Bond Index. It was launched on May 20, 2025. IBMM is a passively managed fund by iShares that tracks the performance of the S&P AMT-Free Municipal Series Dec 2024 Index. It was launched on Mar 20, 2018. Both VTEL and IBMM 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

VTEL vs. IBMM - Performance Comparison

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

VTEL vs. IBMM - Yearly Performance Comparison

	2026 (YTD)
VTEL Vanguard Long-Term Tax-Exempt Bond ETF	-0.83%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%

Returns By Period

VTEL

• 1D: 0.47%
• 1M: -1.73%
• YTD: -0.00%
• 6M: 1.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMM

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

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

VTEL vs. IBMM - Expense Ratio Comparison

VTEL has a 0.09% expense ratio, which is lower than IBMM's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

IBMM

iShares iBonds Dec 2024 Term Muni Bond ETF

VTEL

Vanguard Long-Term Tax-Exempt Bond ETF

Return for Risk

VTEL vs. IBMM - Risk-Adjusted Trends Comparison

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

	VTEL	IBMM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.07	—	—

Dividends

VTEL vs. IBMM - Dividend Comparison

VTEL's dividend yield for the trailing twelve months is around 3.21%, while IBMM has not paid dividends to shareholders.

	TTM	2025
VTEL Vanguard Long-Term Tax-Exempt Bond ETF	3.21%	2.23%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%

Drawdowns

VTEL vs. IBMM - Drawdown Comparison

The maximum VTEL drawdown since its inception was -3.22%, which is greater than IBMM's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for VTEL and IBMM.

Drawdown Indicators

	VTEL	IBMM	Difference
Max Drawdown Largest peak-to-trough decline	-3.22%	0.00%	-3.22%
Current Drawdown Current decline from peak	-2.03%	0.00%	-2.03%
Average Drawdown Average peak-to-trough decline	-0.49%	0.00%	-0.49%

Volatility

Volatility by Period

	VTEL	IBMM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.80%	0.00%	+3.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.80%	0.00%	+3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.80%	0.00%	+3.80%