VanguardMuni National ShortVTES · NYSE Arca

Vanguard Short-Term Tax Exempt Bond ETF (VTES)

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Price: $100.59; —30 Oct 2026
Assets: $3.5B; Total net assets
Expense ratio: 0.05%; Category 0.54%
Yield: 2.77%; Trailing distributions

1Y return: 1.7%-0.6%; Category 2.3%
3Y CAGR: 3.6%0.0%; Category 3.6%
5Y CAGR: —; Category 1.9%

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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	+2.2%	+0.6%	+0.6%	+1.0%	+1.7%	+3.6%	—	—	+2.9%
Muni National Short average	1.5%	0.5%	0.9%	1.6%	2.3%	3.6%	1.9%	1.6%	2.3%
Difference	+0.7%	+0.1%	-0.3%	-0.6%	-0.6%	0.0%	—	—	+0.5%

Holdings

Allocation as last published by the fund.

Credit quality

Share of the bonds by rating.

AAA18.4%
AA60.0%
A14.1%
BBB0.4%
Other7.0%

Asset mix

Bonds90.6%
Cash9.4%

ETF details

Issuer: Vanguard
Category: Fixed Income · Muni National Short
Ticker: VTES
Exchange: NYSE Arca
Inception: 8 Mar 2023 (3.6 years)
Structure: Exchange Traded Fund
Expense ratio: 0.05% (category 0.54%)
Holdings turnover: 24% (category 59%)
Distribution yield: 2.77%
Beta, 3 years: 0.39
Total net assets: $3.5B
Average maturity: 10.29 years

Prices and returns as of 30 Oct 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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