---
ticker: "VTEB"
name: "Vanguard Tax-Exempt Bond ETF"
url: "https://etf.net/etf/VTEB"
grade: "A"
score: 88
graded_at: "2026-10-12"
category: "Other Municipal Bond"
category_rank: "1 of 63"
methodology: "https://etf.net/methodology"
---

# VTEB: Vanguard Tax-Exempt Bond ETF

Grade **A**, Score 88 of 100. Rank 1 of 63 in Other Municipal Bond.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 99 | 1 of 63 |
| Mission | 100 | 1 of 59 |
| Risk | 56 | 20 of 63 |
| Tradability | 82 | 6 of 63 |
| Holdings | 85 | 8 of 63 |
| Durability | 95 | 1 of 63 |

## Top holdings

The fund holds 10723 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Vanguard Municipal Low Duration Fund 12/31/2049 | 0.81% |
| 2 | — | State of California 5.00% 08/01/2028 | 0.16% |
| 3 | — | State of California 5.00% 08/01/2029 | 0.15% |
| 4 | — | City of New York NY 5.00% 08/01/2034 | 0.12% |
| 5 | — | University of California 5.00% 05/15/2036 | 0.11% |
| 6 | — | Oregon State Facilities Authority 2.10% 08/01/2034 | 0.10% |
| 7 | — | State of Idaho 4.00% 06/30/2027 | 0.10% |
| 8 | — | Tarrant County Cultural Education Facilities Finance Corp 2.20% 10/01/2041 | 0.10% |
| 9 | — | State of California 5.25% 08/01/2032 | 0.10% |
| 10 | — | New Jersey Turnpike Authority 5.00% 01/01/2054 | 0.10% |
| 11 | — | New Jersey Health Care Facilities Financing Authority 1.40% 07/01/2061 | 0.10% |
| 12 | — | City of New York NY 5.00% 08/01/2032 | 0.09% |
| 13 | — | State of Maryland 5.00% 06/01/2038 | 0.09% |
| 14 | — | State of Wisconsin 5.00% 05/01/2038 | 0.09% |
| 15 | — | Triborough Bridge & Tunnel Authority 5.00% 02/01/2028 | 0.08% |
| 16 | — | Dallas Independent School District 5.00% 02/15/2056 | 0.08% |
| 17 | — | New York State Thruway Authority 5.00% 09/15/2034 | 0.08% |
| 18 | — | Ohio Water Development Authority Water Pollution Control Loan Fund 5.00% 12/01/2035 | 0.08% |
| 19 | — | Energy Northwest 5.00% 07/01/2034 | 0.08% |
| 20 | — | Ohio State University/The 5.00% 06/01/2035 | 0.08% |
| 21 | — | New Jersey Turnpike Authority 5.00% 01/01/2032 | 0.08% |
| 22 | — | State of Illinois 5.00% 11/01/2027 | 0.08% |
| 23 | — | New York State Dormitory Authority 5.50% 07/01/2054 | 0.08% |
| 24 | — | New York State Thruway Authority 5.00% 09/15/2035 | 0.08% |
| 25 | — | Kentucky State Property & Building Commission 5.00% 03/01/2028 | 0.08% |
| 26 | — | Metropolitan Government of Nashville & Davidson County TN 5.00% 01/01/2032 | 0.07% |
| 27 | — | State of Illinois 5.00% 11/01/2029 | 0.07% |
| 28 | — | Energy Northwest 5.00% 07/01/2041 | 0.07% |
| 29 | — | Los Angeles Unified School District/CA 5.00% 07/01/2034 | 0.07% |
| 30 | — | New York City Transitional Finance Authority Future Tax Secured Revenue 5.00% 11/01/2035 | 0.07% |

Source: etf.net, https://etf.net/etf/VTEB. Please cite the page URL.