VTEL vs. PUSH

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and PGIM Ultra Short Municipal Bond ETF (PUSH).

VTEL and PUSH 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. PUSH is an actively managed fund by PGIM. It was launched on Jun 24, 2024.

Performance

VTEL vs. PUSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and PGIM Ultra Short Municipal Bond ETF (PUSH). The values are adjusted to include any dividend payments, if applicable.

VTEL vs. PUSH - Yearly Performance Comparison

	2026 (YTD)	2025
VTEL Vanguard Long-Term Tax-Exempt Bond ETF	-0.47%	6.66%
PUSH PGIM Ultra Short Municipal Bond ETF	0.64%	2.77%

Returns By Period

In the year-to-date period, VTEL achieves a -0.47% return, which is significantly lower than PUSH's 0.64% return.

VTEL

• 1D: 0.40%
• 1M: -2.49%
• YTD: -0.47%
• 6M: 1.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PUSH

• 1D: 0.01%
• 1M: -0.37%
• YTD: 0.64%
• 6M: 1.46%
• 1Y: 3.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VTEL vs. PUSH - Expense Ratio Comparison

VTEL has a 0.09% expense ratio, which is lower than PUSH's 0.15% 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%.

PUSH

PGIM Ultra Short Municipal Bond ETF

VTEL

Vanguard Long-Term Tax-Exempt Bond ETF

Return for Risk

VTEL vs. PUSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PUSH

PUSH Risk / Return Rank: 95
PUSH Sharpe Ratio Rank: 94
PUSH Sortino Ratio Rank: 96
PUSH Omega Ratio Rank: 97
PUSH Calmar Ratio Rank: 96
PUSH Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VTEL vs. PUSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and PGIM Ultra Short Municipal Bond ETF (PUSH). 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	PUSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.93	2.84	-0.91

Correlation

The correlation between VTEL and PUSH is 0.22, 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

VTEL vs. PUSH - Dividend Comparison

VTEL's dividend yield for the trailing twelve months is around 2.88%, less than PUSH's 3.60% yield.

	TTM	2025	2024
VTEL Vanguard Long-Term Tax-Exempt Bond ETF	2.88%	2.23%	0.00%
PUSH PGIM Ultra Short Municipal Bond ETF	3.31%	3.45%	1.86%

Drawdowns

VTEL vs. PUSH - Drawdown Comparison

The maximum VTEL drawdown since its inception was -3.22%, which is greater than PUSH's maximum drawdown of -0.85%. Use the drawdown chart below to compare losses from any high point for VTEL and PUSH.

Drawdown Indicators

	VTEL	PUSH	Difference
Max Drawdown Largest peak-to-trough decline	-3.22%	-0.85%	-2.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.85%	—
Current Drawdown Current decline from peak	-2.49%	-0.37%	-2.12%
Average Drawdown Average peak-to-trough decline	-0.49%	-0.11%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.24%	—

Volatility

Volatility by Period

	VTEL	PUSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.78%	1.64%	+2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.78%	1.33%	+2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.78%	1.33%	+2.45%