VTEB vs MUB

Comparison between VANGUARD TAX-EXEMPT BOND INDEX FUND ETF SHARES (VTEB, ETF) and ISHARES NATIONAL MUNI BOND ETF (MUB, ETF).

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

VTEB vs MUB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	VTEB(ETF)	MUB(ETF)
Net Assets	$46B	$44B
Expense Ratio	0.03%	0.05%
Max Drawdown	17.00%	14.39%
Sharpe Ratio	0.77	0.66
5Y Beta	0.03	0.05
5Y Dividends CAGR	11.72%	9.25%

Net Assets

Winner

VTEB

$46B

MUB

$44B

Expense Ratio

Winner

VTEB

0.03%

MUB

0.05%

Max Drawdown

VTEB

17.00%

Winner

MUB

14.39%

Sharpe Ratio

Winner

VTEB

0.77

MUB

0.66

5Y Beta

Winner

VTEB

0.03

MUB

0.05

5Y Dividends CAGR

Winner

VTEB

11.72%

MUB

9.25%

VTEB vs MUB - Historical Returns

Returns include dividend reinvestment.

Period	VTEB	MUB
1 month	-0.12%	-0.07%
3 months	-0.61%	-0.70%
6 months	+1.17%	+1.09%
1 year	+5.74%	+5.43%
5 years(CAGR)	+0.87%	+0.89%
10 years(CAGR)	+2.03%	+1.92%
Max(CAGR)	+2.36%	+3.10%

VTEB

-0.12%

Winner

MUB

-0.07%

Winner

VTEB

-0.61%

MUB

-0.70%

Winner

VTEB

+1.17%

MUB

+1.09%

Winner

VTEB

+5.74%

MUB

+5.43%

5Y(CAGR)

VTEB

+0.87%

Winner

MUB

+0.89%

10Y(CAGR)

Winner

VTEB

+2.03%

MUB

+1.92%

Max(CAGR)

VTEB

+2.36%

Winner

MUB

+3.10%

VTEB vs MUB - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	VTEB	MUB
2026	+0.60%	+0.50%
2025	+3.58%	+3.65%
2024	+1.63%	+1.40%
2023	+5.87%	+5.17%
2022	-7.95%	-7.26%
2021	+1.14%	+1.08%
2020	+5.08%	+5.03%
2019	+7.32%	+7.08%
2018	+1.20%	+1.07%
2017	+5.10%	+4.82%
2016	+0.06%	+0.05%
2015	+2.44%	+3.17%
2014	N/A	+9.00%
2013	N/A	-4.44%
2012	N/A	+5.08%
2011	N/A	+12.54%
2010	N/A	-0.05%
2009	N/A	+7.11%
2008	N/A	+0.84%
2007	N/A	+1.76%

VTEB vs MUB Drawdown Comparison

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

The maximum drawdown for MUB was -13.68%, occurring on Mar 19, 2020. Recovery took 100 trading sessions.

The current VTEB drawdown is -1.21%. The current MUB drawdown is -1.30%.

Rank	VTEB	MUB
#1	-17.00% Mar 9, 2020 - Jul 30, 2020	-13.68% Mar 9, 2020 - Jul 30, 2020
#2	-12.64% Jul 22, 2021 - Dec 4, 2024	-12.33% Sep 9, 2008 - Jan 8, 2009
#3	-5.82% Jul 5, 2016 - Aug 23, 2017	-11.89% Jul 19, 2021 - Dec 4, 2024
#4	-4.76% Dec 6, 2024 - Sep 11, 2025	-9.74% Nov 30, 2012 - Jul 21, 2014
#5	-2.71% Feb 27, 2026 - Mar 24, 2026	-8.86% Aug 25, 2010 - Jul 13, 2011
#6	-2.27% Dec 6, 2017 - Dec 7, 2018	-6.70% Jul 7, 2016 - Dec 21, 2018
#7	-2.04% Feb 10, 2021 - Jun 4, 2021	-5.67% Jan 17, 2008 - May 20, 2008
#8	-1.57% Aug 15, 2019 - Jan 3, 2020	-5.41% Feb 13, 2012 - Sep 28, 2012
#9	-1.40% Aug 10, 2020 - Nov 19, 2020	-4.80% Jan 12, 2009 - Apr 16, 2009
#10	-1.14% Sep 8, 2017 - Dec 6, 2017	-4.78% Dec 6, 2024 - Sep 10, 2025
#11	-0.95% Feb 11, 2016 - Apr 5, 2016	-3.79% May 20, 2008 - Sep 5, 2008
#12	-0.82% Aug 25, 2015 - Sep 24, 2015	-3.53% May 20, 2009 - Aug 19, 2009
#13	-0.63% Jun 16, 2016 - Jun 24, 2016	-3.16% Sep 30, 2009 - Apr 21, 2010
#14	-0.54% Oct 30, 2015 - Nov 20, 2015	-2.94% Jan 30, 2015 - Nov 23, 2015
#15	-0.52% Jun 10, 2021 - Jul 7, 2021	-2.79% Feb 26, 2026 - Mar 26, 2026

Correlation

Correlation between VTEB and MUB is 1.00 which considered as a very strong positive correlation - the stocks move almost identically together.

1.00

-101

Dividend Comparison (2007 - 2026)

VTEB vs MUB dividend yield comparison.

Year	VTEB	MUB
2026	1.14%	1.07%
2025	3.29%	3.14%
2024	3.14%	3.01%
2023	2.79%	2.65%
2022	2.09%	2.11%
2021	1.64%	1.81%
2020	1.99%	2.11%
2019	2.30%	2.42%
2018	2.25%	2.46%
2017	1.96%	2.26%
2016	1.66%	2.21%
2015	0.58%	2.51%
2014	0.00%	2.73%
2013	0.00%	3.02%
2012	0.00%	2.89%
2011	0.00%	3.31%
2010	0.00%	3.80%
2009	0.00%	3.61%
2008	0.00%	3.54%
2007	0.00%	1.15%