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VTES ETF · Vanguard Short-Term Tax-Exempt Bond ETF
The VTES Exchange Traded Fund (ETF) is provided by Vanguard. It is built to track an index: S&P 0-7 Year National AMT-Free Municipal Bond Index. The VTES ETF provides physical exposure, so by buying it you actually own parts of all the 3,051 underlying holdings. This share class generates a stream of income by distributing dividends.
Last update Today at 1:30 PM UTC
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This fund is part ofMunicipal Bonds1M perf.-0.58%
Last price
$101.75
1M perf.
-0.51%
1M flows
+€90M
AuM
€1.58B
E/R
0.05%
Rating
Not rated
ESG Consensus®
VTES
$101.75
Performance & flows
Segment for quartile rank
December 12, 2025 → March 12, 2026
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VTES
$101.65
+0.89%
Municipal Bonds
+0.89%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | -0.51%  | +0.89% | +3.89% | +9.80% | N/A | -0.62% | +0.64% | +0.64% | |
| Flows |
Key fund info
Segment for quartile rank
This ETF's jurisdiction country is not in your region (Europe and Middle East) ·
Main characteristics
Issuer
CUSIP
921935870
ISIN
US9219358705
AuM
€1.58B
E/R
0.05%
Replication rating
Not rated
ESG Consensus®
More details
NAV
3/12/2026
$101.65
1D NAV change
-0.12%
Dividend policy
Replication method
Direct (Physical)
Replication model
Optimized sampling
No. of holdings
3051
Inception date
3/9/2023
Jurisdiction
United States
Distribution
United States
Legal structure
Open-end Investment Company
Base currency
USD
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Product type
Benchmark
S&P 0-7 Year National AMT-Free Municipal Bond Index
Asset class
Factors
N/A
Investment strategy
The Fund seeks to track the performance of a benchmark index that measures the investment-grade segment of the U.S. municipal bond market.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Risk profile
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +0.89% | +3.89% | +9.80% | N/A |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
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Enterprise
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Countries
USA
99.85%
Unavailable
0.16%
Sectors
Municipal
48.75%
Unavailable
51.26%
Diversification
Total weight of top 15 holdings out of 3051
Top 15 holdings
Data as of January 31, 2026
US64972JQM35
US13063ENN21
New Jersey Economic Development Authority, 5% 15jun2042, USD
New Jersey, 5% 1jun2028, USD
New Jersey Transportation Trust Fund Authority, 5% 15jun2028, USD
US982696QY59
US271843AB05
US91412HWD15
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Ohio Water Development Authority, 5% 1dec2029, USD (2019)
US544647HP83
Illinois, 5% 1nov2027, USD (2017D)
New Jersey, 5% 1jun2026, USD
US64966SLK05
New Jersey, 4% 1jun2032, USD
New Jersey, 4% 1jun2031, USD
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Enterprise
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Integrates ESG criteria
No
SDG
ESG Consensus® by Conser
Data as of December 31, 2025
MethodologyOur partner Conser gathers the industry's consensus on the business practices of the underlying holdings. We have computed the following metrics about VTES ETF's sustainability, based on their methodology.
ESG Consensus®
ESG Consensus® is based on the Final Sustainability Grade, which itself consists of 10 grades. Our partner Conser calculates the exact grade, based on market intelligence, using their proprietary ESG Consensus® methodology.
VTES’s has a Final Sustainability Grade of either A+, A, or A-.
A+
A
A-
B+
B
B-
C+
C
C-
D
This fund’s exact Final Sustainability Grade is available in Trackinsight Enterprise.
Learn more about Trackinsight EnterpriseHoldings review
100.16% of holdings have positive scoring
100.16%
Consensus levels
Strong
Medium
Weak
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Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseReplication
Trackinsight replication rating:
Not rated
Replication quality
Calculated over 12m, as of February 27, 2026
Tracking error
Tracking difference
Replication information
Index
S&P 0-7 Year National AMT-Free Municipal Bond Index - USD
Index ticker
SPMUN07 Index
Index dividend policy
GTR
Replication method
Replication model
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Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseIssuer
Vanguard
Vanguard ID Card
Number of funds
279
Total AuM
€3.79T
Expense ratio range
0.03% - 0.48%
Average expense ratio
0.1363%
Top 5 funds by Vanguard
| AuM | ||
|---|---|---|
VOO | Vanguard S&P 500 ETF | €745.57B |
VTI | Vanguard Total Stock Market ETF | €495.05B |
VEA | Vanguard FTSE Developed Markets ETF | €178.58B |
VUG | Vanguard Growth ETF | €168.22B |
VTV | Vanguard Value ETF | €144.08B |
Frequently asked questions about VTES
What does Vanguard Short-Term Tax-Exempt Bond ETF, VTES, invest in?
VTES is a Passive ETF. This ETF provides exposure to US Investment Grade Municipal Bonds.
Which benchmark or index does VTES replicate?
VTES tracks the S&P 0-7 Year National AMT-Free Municipal Bond Index - USD, through a optimized sampling replication method.
What is the Total Expense ratio (TER) of VTES?
VTES carries a total expense ratio (TER) of 0.05%, indicating the annual cost for holding the fund.
When was VTES launched?
VTES was introduced to the market on March 9, 2023. It trades on United States
Who is the ETF issuer of VTES?
Vanguard Short-Term Tax-Exempt Bond ETF, VTES, is provided by Vanguard. Learn more about Vanguard here.
What is the current assets under management (AUM) of VTES?
VTES oversees €1.58B in assets as of March 12, 2026.
How has VTES performed lately?
Based on data from March 12, 2026, VTES returned -0.51% over the past month, 0.89% over the last three months and 0.64% year-to-date.
What are the latest inflows or outflows for VTES?
As of March 12, 2026, VTES recorded net flows of +€90M over the last month and +€178M year-to-date.
Does VTES distribute dividends?
VTES follows a distributing dividend policy, meaning it pays out income to investors. As of March 12, 2026, its 12-month trailing yield was 2.76%.
What are the main country or region exposures of VTES?
As of January 31, 2026, VTES has significant geographic allocations in USA.
In which sector or theme does VTES invest in?
As of January 31, 2026, VTES focuses largely on Municipal.
How many securities does VTES hold and how diversified is it?
As of January 31, 2026, VTES holds 3051 positions in its portfolio, with 3.65% of assets concentrated in its top 15 holdings.
What are the main positions in VTES?
As of January 31, 2026, VTES top three holdings include US64972JQM35, US13063ENN21 and New Jersey Economic Development Authority, 5% 15jun2042, USD.
What is the base currency of VTES?
The base currency of VTES is USD.
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