VanguardMuni National ShortVTES · NYSE Arca

Vanguard Short-Term Tax Exempt Bond ETF (VTES)

Compare Muni National Short ETFs Compare with others

Price: $99.86; —11 Sept 2026
Assets: $2.4B; Total net assets
Expense ratio: 0.05%; Category 0.54%
Yield: 2.74%; Trailing distributions

1Y return: 0.4%-1.1%; Category 1.4%
3Y CAGR: 2.9%-0.2%; Category 3.1%
5Y CAGR: —; Category 1.7%

Loading NAV history…

Vanguard Short-Term Tax Exempt Bond ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-0.8%	-0.6%	-0.6%	+0.1%	+0.4%	+2.9%	—	—	+2.7%
Muni National Short average	-0.4%	-0.1%	0.2%	1.0%	1.4%	3.1%	1.7%	1.5%	2.3%
Difference	-0.4%	-0.5%	-0.8%	-0.9%	-1.1%	-0.2%	—	—	+0.4%

Holdings

Allocation as last published by the fund.

Credit quality

Share of the bonds by rating.

AAA20.3%
AA63.1%
A14.9%
BBB0.5%
Below B0.0%
Other1.2%

Asset mix

Bonds96.9%
Cash3.1%

ETF details

Issuer: Vanguard
Category: Fixed Income · Muni National Short
Ticker: VTES
Exchange: NYSE Arca
Inception: 8 Mar 2023 (3.5 years)
Structure: Exchange Traded Fund
Expense ratio: 0.05% (category 0.54%)
Holdings turnover: 24% (category 59%)
Distribution yield: 2.74%
Beta, 3 years: 0.37
Total net assets: $2.4B
Average maturity: 10.50 years

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

Other muni national short ETFs

Other ETFs in the Muni National Short category.

Compare Muni National Short ETFs