Compare/Updated Oct 26, 2026, refreshed every trading day
VTEB vs BND
Vanguard Tax-Exempt Bond ETF against Vanguard Total Bond Market ETF: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
BND did better over the period: $1,000 invested on October 28, 2022 grew to $1,161, versus $1,154 for VTEB, producing total returns of 16.1% and 15.4%, respectively. BND also led over three years, returning 16.4% compared with VTEB’s 12.4%, while VTEB performed better over the shorter one-year period (-0.8% versus -1.6%). The trade-off was risk: BND’s 12-month volatility was 4.0% versus 3.6% for VTEB, and its worst drawdown was -7.2% versus -6.6%. Both funds had a 0.03% expense ratio. Their daily moves were correlated at 0.757, although VTEB moved only 0.55% for each 1% move in BND. BND’s modest long-term advantage came with slightly higher volatility and drawdown, while VTEB offered lower risk and tax-exempt bond exposure.
- Price is below its 200-day average ($49); 50-day at $48.
- RSI 66, neutral. Supertrend says buy. ADX 30, so the trend is strong.
- Price is below its 200-day average ($72); 50-day at $71.
- RSI 61, neutral. Supertrend says buy. ADX 25, so the trend is developing.
Head to head
Which has returned more, VTEB or BND?
VTEB beat BND in 23 of the last 48 months; BND won the other 25. The typical monthly gap was 0.59 points.
Total return by period
Which is riskier?
VTEB: Jul 6, 2026 to Sep 29, 2026; BND: Apr 5, 2023 to Oct 19, 2023
- 0.757
- correlation of daily moves, 4 years
- 0.55
- VTEB move per 1% in BND
- 0.667
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 0.59 points.
When did they diverge?
| Month | VTEB | BND | Gap |
|---|---|---|---|
| March 2025 | -1.8% | +0.0% | -1.80 pts |
| May 2024 | +0.0% | +1.7% | -1.66 pts |
| November 2022 | +5.0% | +3.7% | +1.39 pts |
| September 2025 | +2.5% | +1.1% | +1.36 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
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