VTEB vs IWB

Comparison between VANGUARD TAX-EXEMPT BOND INDEX FUND ETF SHARES (VTEB, ETF) and ISHARES RUSSELL 1000 ETF (IWB, ETF).

5-Year PerformanceIWB has outperformed VTEB, delivering a return of +12.5% compared to +0.9%

VTEB vs IWB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	VTEB(ETF)	IWB(ETF)
Net Assets	$44B	$43B
Expense Ratio	0.03%	0.15%
Max Drawdown	17.00%	56.43%
Sharpe Ratio	0.80	1.99
5Y Beta	0.03	0.98
P/E Ratio	N/A	27.79
Forward P/E	N/A	21.51
5Y Dividends CAGR	11.72%	9.65%
5Y EPS CAGR	N/A	25.49%
Debt to Equity	N/A	39.40%
P/S Ratio	N/A	3.09
P/B Ratio	N/A	4.84

Net Assets

Winner

VTEB

$44B

IWB

$43B

Expense Ratio

Winner

VTEB

0.03%

IWB

0.15%

Max Drawdown

Winner

VTEB

17.00%

IWB

56.43%

Sharpe Ratio

VTEB

0.80

Winner

IWB

1.99

5Y Beta

Winner

VTEB

0.03

IWB

0.98

P/E Ratio

VTEB

N/A

IWB

27.79

Forward P/E

VTEB

N/A

IWB

21.51

5Y Dividends CAGR

Winner

VTEB

11.72%

IWB

9.65%

5Y EPS CAGR

VTEB

N/A

IWB

25.49%

Debt to Equity

VTEB

N/A

IWB

39.40%

P/S Ratio

VTEB

N/A

IWB

3.09

P/B Ratio

VTEB

N/A

IWB

4.84

VTEB vs IWB - Historical Returns

Returns include dividend reinvestment.

Period	VTEB	IWB
1 month	+0.52%	+8.52%
3 months	+0.03%	+6.03%
6 months	+1.49%	+10.03%
1 year	+6.27%	+30.94%
5 years(CAGR)	+0.88%	+12.51%
10 years(CAGR)	+2.09%	+15.17%
Max(CAGR)	+2.39%	+8.52%

VTEB

+0.52%

Winner

IWB

+8.52%

VTEB

+0.03%

Winner

IWB

+6.03%

VTEB

+1.49%

Winner

IWB

+10.03%

VTEB

+6.27%

Winner

IWB

+30.94%

5Y(CAGR)

VTEB

+0.88%

Winner

IWB

+12.51%

10Y(CAGR)

VTEB

+2.09%

Winner

IWB

+15.17%

Max(CAGR)

VTEB

+2.39%

Winner

IWB

+8.52%

VTEB vs IWB - Annual Returns (2000 - 2026)

Returns include dividend reinvestment.

Year	VTEB	IWB
2026	+0.90%	+7.73%
2025	+3.58%	+17.40%
2024	+1.63%	+25.08%
2023	+5.87%	+27.04%
2022	-7.95%	-19.70%
2021	+1.14%	+28.10%
2020	+5.08%	+19.74%
2019	+7.32%	+31.11%
2018	+1.20%	-5.57%
2017	+5.10%	+20.58%
2016	+0.06%	+13.69%
2015	+2.44%	+0.86%
2014	N/A	+14.05%
2013	N/A	+29.59%
2012	N/A	+14.77%
2011	N/A	+0.22%
2010	N/A	+14.18%
2009	N/A	+24.67%
2008	N/A	-36.70%
2007	N/A	+5.37%
2006	N/A	+13.49%
2005	N/A	+7.04%
2004	N/A	+10.98%
2003	N/A	+25.31%
2002	N/A	-22.03%
2001	N/A	-8.93%
2000	N/A	-4.97%

VTEB vs IWB Drawdown Comparison

The maximum drawdown for VTEB was -17.00%, occurring on Mar 19, 2020. Recovery took 100 trading sessions.

The maximum drawdown for IWB was -55.38%, occurring on Mar 9, 2009. Recovery took 1119 trading sessions.

The current VTEB drawdown is -0.91%.

Rank	VTEB	IWB
#1	-17.00% Mar 9, 2020 - Jul 30, 2020	-55.38% Oct 9, 2007 - Mar 19, 2012
#2	-12.64% Jul 22, 2021 - Dec 4, 2024	-48.25% Sep 1, 2000 - Oct 13, 2006
#3	-5.82% Jul 5, 2016 - Aug 23, 2017	-34.60% Feb 19, 2020 - Aug 10, 2020
#4	-4.76% Dec 6, 2024 - Sep 11, 2025	-25.20% Jan 3, 2022 - Dec 14, 2023
#5	-2.71% Feb 27, 2026 - Mar 24, 2026	-19.72% Sep 20, 2018 - Apr 12, 2019
#6	-2.27% Dec 6, 2017 - Dec 7, 2018	-19.09% Feb 19, 2025 - Jun 26, 2025
#7	-2.04% Feb 10, 2021 - Jun 4, 2021	-14.25% May 21, 2015 - Jun 2, 2016
#8	-1.57% Aug 15, 2019 - Jan 3, 2020	-9.97% Jan 26, 2018 - Jul 25, 2018
#9	-1.40% Aug 10, 2020 - Nov 19, 2020	-9.86% Apr 2, 2012 - Aug 16, 2012
#10	-1.14% Sep 8, 2017 - Dec 6, 2017	-9.45% Jul 19, 2007 - Oct 5, 2007
#11	-0.95% Feb 11, 2016 - Apr 5, 2016	-9.33% Sep 2, 2020 - Nov 11, 2020
#12	-0.82% Aug 25, 2015 - Sep 24, 2015	-8.86% Jan 27, 2026 - Apr 15, 2026
#13	-0.63% Jun 16, 2016 - Jun 24, 2016	-8.43% Jul 16, 2024 - Sep 19, 2024
#14	-0.54% Oct 30, 2015 - Nov 20, 2015	-7.58% Sep 18, 2014 - Oct 31, 2014
#15	-0.52% Jun 10, 2021 - Jul 7, 2021	-7.30% Sep 14, 2012 - Jan 2, 2013

Correlation

Correlation between VTEB and IWB is 0.86 which considered as a strong positive correlation - the stocks tend to move together.

0.86

-101

Dividend Comparison (2000 - 2026)

VTEB vs IWB dividend yield comparison.

Year	VTEB	IWB
2026	1.14%	0.22%
2025	3.29%	1.00%
2024	3.14%	1.14%
2023	2.79%	1.31%
2022	2.09%	1.56%
2021	1.64%	1.09%
2020	1.99%	1.37%
2019	2.30%	1.71%
2018	2.25%	2.06%
2017	1.96%	1.64%
2016	1.66%	1.89%
2015	0.58%	1.95%
2014	0.00%	1.70%
2013	0.00%	1.68%
2012	0.00%	2.05%
2011	0.00%	1.93%
2010	0.00%	1.67%
2009	0.00%	1.94%
2008	0.00%	2.49%
2007	0.00%	1.68%
2006	0.00%	1.57%
2005	0.00%	1.92%
2004	0.00%	1.73%
2003	0.00%	1.42%
2002	0.00%	1.54%
2001	0.00%	1.14%
2000	0.00%	0.64%