Vanguard Tax-Exempt Bond ETF holds 10,592 positions and $48.5B in net assets as of Jul 31, 2026. The largest: State of California 5.3%, New York City Transitional Finance Authority Future Tax Secured Revenue 5.1%, New York State Dormitory Authority 4.5%, City of New York NY 3.2%, New Jersey Transportation Trust Fund Authority 2.4%.

What is the expense ratio of VTEB?

VTEB costs 0.03% a year, from its prospectus.

VTEBVanguard Tax-Exempt Bond ETF

ETF · Vanguard Municipal BOND Funds

$49.18close Nov 11, 2026

The fund

Holdings as of Jul 31, 2026, filed with the SEC.

$48.5B

net assets, all share classes

0.03%

yearly cost, from the prospectus

10,592

positions on file

Growth of $100

Total return with dividends reinvested, month by month since August 2019.

$100$111

20192026

+5.2%

last 12 months

+2.9%

a year, over 3 years

+0.5%

a year, over 5 years

Largest holdings

The top 10 issuers of 10,592 positions, by share of the fund.

State of CaliforniaBonds: 5.3%
New York City Transitional Finance Authority Future Tax Secured RevenueBonds: 5.1%
New York State Dormitory AuthorityBonds: 4.5%
City of New York NYBonds: 3.2%
New Jersey Transportation Trust Fund AuthorityBonds: 2.4%
Commonwealth of MassachusettsBonds: 2.4%
New York City Municipal Water Finance AuthorityBonds: 2.0%
University of CaliforniaBonds: 2.0%
State of IllinoisBonds: 1.8%
State of WashingtonBonds: 1.8%

Countries

Where the holdings are, by share of the fund.

United States99.6%

What it holds

By kind of asset.

Bonds98.9%
Cash and short-term0.7%

From the fund’s Form N-PORT for July 2026 (filed Sep 28, 2026) and its prospectus, via the SEC’s public data sets. Shares of net assets can sum above 100% where a fund holds cash collateral or derivatives.