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Vanguard Tax-Exempt Bond Index Fund

ETF
VTEB
Payout Change
Pending
Price as of:
$50.53 +0.15 +0.3%
primary theme
Municipal Bond
VTEB (ETF)

Vanguard Tax-Exempt Bond Index Fund

Payout Change
Pending
Price as of:
$50.53 +0.15 +0.3%
primary theme
Municipal Bond
VTEB (ETF)

Vanguard Tax-Exempt Bond Index Fund

Payout Change
Pending
Price as of:
$50.53 +0.15 +0.3%
primary theme
Municipal Bond

Name

As of 11/15/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vanguard Tax-Exempt Bond Index Fund

VTEB | ETF

$50.53

$34.4 B

3.13%

$1.57

0.05%

Vitals

YTD Return

1.6%

1 yr return

6.3%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

1.2%

Net Assets

$34.4 B

Holdings in Top 10

2.2%

52 WEEK LOW AND HIGH

$50.4
$49.35
$51.15

Expenses

OPERATING FEES

Expense Ratio 0.05%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 11.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/15/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vanguard Tax-Exempt Bond Index Fund

VTEB | ETF

$50.53

$34.4 B

3.13%

$1.57

0.05%

VTEB - Profile

Distributions

  • YTD Total Return 1.6%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.70%
DIVIDENDS
  • Dividend Yield 3.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Vanguard Tax-Exempt Bond Index Fund
  • Fund Family Name
    The Vanguard Group, Inc.
  • Inception Date
    Aug 21, 2015
  • Shares Outstanding
    328670118
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Stephen McFee

Fund Description

The Fund employs an indexing investment approach designed to track the Standard & Poor’s National AMT-Free Municipal Bond Index, which measures the performance of the investment-grade segment of the U.S. municipal bond market as determined by the Index Provider, S&P Dow Jones Indices LLC. This Index includes municipal bonds from issuers that are primarily state or local governments or agencies whose interest is exempt from U.S. federal income taxes and the federal alternative minimum tax (AMT) (excluding bonds issued by U.S. territories and commonwealths and certain other bonds as determined by the Index Provider). To be eligible for inclusion in the Index, each bond must have a rating of at least investment-grade, as determined by a nationally recognized statistical rating organization (NRSRO) (e.g., at least BBB– by Fitch Ratings, Inc). For the avoidance of doubt, the lowest rating will be used in determining if the bond is investment grade. Each bond must also be denominated in U.S. dollars; generally must be a constituent of a deal where the original offering amount was at least $100 million; and generally have a minimum par amount of $25 million. In addition, to be included in the Index, each bond must have a minimum term to maturity or call date greater than one calendar month.The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund’s investments will be selected through the sampling process, and at least 80% of the Fund’s assets will be invested in securities held in the Index. Under normal circumstances, at least 80% of the Fund’s assets will be invested in securities whose income will be exempt from federal income taxes and the federal AMT. The Fund seeks to maintain a dollar-weighted average maturity consistent with that of the Index. As of October 31, 2023, the dollar-weighted average maturity of the Index was 13.1 years.
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VTEB - Performance

Return Ranking - Trailing

Period VTEB Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -4.0% 30.2% 74.88%
1 Yr 6.3% 0.3% 36.2% 52.90%
3 Yr -0.1%* -10.7% 3.3% 30.17%
5 Yr 1.2%* -6.7% 1104.0% 23.45%
10 Yr N/A* -0.9% 248.8% 14.47%

* Annualized

Return Ranking - Calendar

Period VTEB Return Category Return Low Category Return High Rank in Category (%)
2023 3.2% -1.4% 41.0% 36.01%
2022 -9.9% -39.7% 0.3% 34.89%
2021 -0.5% -5.6% 6.9% 50.55%
2020 3.1% -2.6% 310.0% 6.81%
2019 4.9% 0.0% 26.0% 16.07%

Total Return Ranking - Trailing

Period VTEB Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -4.0% 30.2% 74.88%
1 Yr 6.3% 0.3% 36.2% 52.90%
3 Yr -0.1%* -10.7% 3.3% 30.17%
5 Yr 1.2%* -6.7% 1104.0% 23.45%
10 Yr N/A* -0.9% 248.8% N/A

* Annualized

Total Return Ranking - Calendar

Period VTEB Return Category Return Low Category Return High Rank in Category (%)
2023 6.1% -1.3% 41.0% 38.14%
2022 -8.0% -39.7% 1.1% 35.64%
2021 1.1% -4.8% 23761504.0% 61.60%
2020 5.2% -1.5% 17057.9% 13.13%
2019 7.3% 0.2% 3514.6% 26.64%

VTEB - Holdings

Concentration Analysis

VTEB Category Low Category High VTEB % Rank
Net Assets 34.4 B 3.22 M 71.9 B 0.33%
Number of Holdings 10246 4 13418 0.27%
Net Assets in Top 10 786 M -317 M 3.09 B 2.00%
Weighting of Top 10 2.17% 1.8% 100.3% 99.93%

Top 10 Holdings

  1. Vanguard Municipal Cash Management Fund 1.19%
  2. LOS ANGELES UNIF SD-A 0.14%
  3. CA REF 0.13%
  4. TEXAS ST-A-REF-TRNSPR 0.13%
  5. MA BAY TRANS AUTH-A 0.12%
  6. ILLINOIS ST-D 0.10%
  7. SALT RIVER 0.09%
  8. TRIBOROUGH BRIDGE-A-1 0.09%
  9. ILLINOIS ST-D 0.09%
  10. HUDSON NY YARDS INFRA 0.09%

Asset Allocation

Weighting Return Low Return High VTEB % Rank
Bonds 		98.75% 0.00% 150.86% 56.13%
Cash 		1.25% -50.86% 44.62% 43.90%
Stocks 		0.00% 0.00% 99.78% 98.60%
Preferred Stocks 		0.00% 0.00% 0.07% 97.07%
Other 		0.00% -3.69% 51.88% 91.07%
Convertible Bonds 		0.00% 0.00% 0.93% 96.79%

Bond Sector Breakdown

Weighting Return Low Return High VTEB % Rank
Municipal 		95.74% 44.39% 100.00% 76.66%
Cash & Equivalents 		1.19% 0.00% 44.41% 27.71%
Derivative 		0.00% -3.69% 51.88% 87.87%
Securitized 		0.00% 0.00% 5.93% 94.65%
Corporate 		0.00% 0.00% 9.41% 94.85%
Government 		0.00% 0.00% 52.02% 94.58%

Bond Geographic Breakdown

Weighting Return Low Return High VTEB % Rank
US 		98.75% 0.00% 142.23% 53.83%
Non US 		0.00% 0.00% 23.89% 97.47%

VTEB - Expenses

Operational Fees

VTEB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.05% 0.01% 8.02% 99.80%
Management Fee 0.04% 0.00% 1.20% 1.07%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

VTEB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

VTEB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VTEB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.00% 0.00% 283.00% 28.40%

VTEB - Distributions

Dividend Yield Analysis

VTEB Category Low Category High VTEB % Rank
Dividend Yield 3.13% 0.00% 14.51% 42.88%

Dividend Distribution Analysis

VTEB Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

VTEB Category Low Category High VTEB % Rank
Net Income Ratio 1.70% -0.53% 5.33% 63.72%

Capital Gain Distribution Analysis

VTEB Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

VTEB - Fund Manager Analysis

Managers

Stephen McFee

Start Date

Tenure

Tenure Rank

Feb 07, 2020

2.31

2.3%

Stephen M. McFee, CFA, Portfolio Manager and co-lead of the municipal revenue team in Vanguard's Fixed Income Group. He has been with Vanguard since 2005, has worked in investment management since 2007. Education: B.A./B.S., East Stroudsburg University; M.S., St. Joseph's University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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