VTEL vs. VTEB
Compare and contrast key facts about Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and Vanguard Tax-Exempt Bond ETF (VTEB).
VTEL and VTEB 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. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015. Both VTEL and VTEB 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. VTEB - Performance Comparison
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VTEL vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VTEL Vanguard Long-Term Tax-Exempt Bond ETF | -0.47% | 6.66% |
VTEB Vanguard Tax-Exempt Bond ETF | -0.23% | 5.61% |
Returns By Period
In the year-to-date period, VTEL achieves a -0.47% return, which is significantly lower than VTEB's -0.23% return.
VTEL
- 1D
- 0.40%
- 1M
- -2.49%
- YTD
- -0.47%
- 6M
- 1.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VTEB
- 1D
- 0.24%
- 1M
- -2.18%
- YTD
- -0.23%
- 6M
- 1.34%
- 1Y
- 3.99%
- 3Y*
- 2.67%
- 5Y*
- 0.82%
- 10Y*
- 2.06%
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VTEL vs. VTEB - Expense Ratio Comparison
VTEL has a 0.09% expense ratio, which is higher than VTEB's 0.05% 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
VTEL vs. VTEB — Risk / Return Rank
VTEL
VTEB
VTEL vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| VTEL | VTEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.00 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.21 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.93 | 0.45 | +1.49 |
Correlation
The correlation between VTEL and VTEB is 0.87, 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
VTEL vs. VTEB - Dividend Comparison
VTEL's dividend yield for the trailing twelve months is around 2.88%, less than VTEB's 3.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTEL Vanguard Long-Term Tax-Exempt Bond ETF | 2.88% | 2.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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% |
Drawdowns
VTEL vs. VTEB - Drawdown Comparison
The maximum VTEL drawdown since its inception was -3.22%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for VTEL and VTEB.
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Drawdown Indicators
| VTEL | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.22% | -17.00% | +13.78% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.45% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.00% | — |
Current DrawdownCurrent decline from peak | -2.49% | -2.18% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -0.49% | -2.35% | +1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.17% | — |
Volatility
VTEL vs. VTEB - Volatility Comparison
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Volatility by Period
| VTEL | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.39% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.85% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 4.00% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.78% | 3.87% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.78% | 5.25% | -1.47% |