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FTMA vs VTEB

Franklin Massachusetts Municipal Income ETF

FTMACNYSE Arca

Vanguard Tax-Exempt Bond ETF

VTEBANYSE Arca

Overlap

No data

Expense ratio

VTEB −0.32pt a year

FTMA0.35%VTEB0.03%

Avg volume · 30D

VTEB 61.6×the volume

FTMA279KVTEB17.2M

FTMA vs VTEB Performance

Dec 31, 2025 – Oct 30, 2026

−0.4%FTMA−0.3%VTEB

Dec 31, 2025 to Oct 30, 2026. FTMA −0.4%. VTEB −0.3%. Use the arrow keys to read each point.−4%−2%2%Dec 2025Jun 2026Oct 2026
Expense ratio
FTMA 0.35%
VTEB 0.03%, better
Fund size
FTMA $279M
VTEB $52.4B
1Y total return
FTMA No data
VTEB +0.1%
Yield (12M)
FTMA No data
VTEB 3.47%
Holdings
FTMA 188
VTEB 11156
Avg volume (30D)
FTMA 279K sh
VTEB 17.2M sh, better
NAV per share
FTMA $8.76
VTEB $48.83
52W range

ETF.net Grade

FTMA: Cost 35, Risk 58, Mission 80, Tradability 60, Holdings 44, Durability 60. VTEB: Cost 99, Risk 58, Mission 100, Tradability 77, Holdings 85, Durability 95.
Pillar letters and Scores for FTMA, VTEB, with each pillar’s weight
PillarFTMAVTEB
Cost30% weightD35A99Higher
Mission25% weightA80A100Higher
Risk15% weightB58B58
Tradability15% weightB60A77Higher
Holdings10% weightC44A85Higher
Durability5% weightB60A95Higher

Rank among Other Municipal Bond funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FTMA and VTEB are both graded against the same 63 Other Municipal Bond funds, so their Grades compare head to head.

Other Municipal Bond⁠

Category · 63 funds
See all 63 ›

VTEB ranks 1st and FTMA 37th of 63 funds in the Other Municipal Bond Category.

  1. Rank 1AVTEBVanguard Tax-Exempt Bond ETFScore 88
  2. Rank 2AMUBiShares National Muni Bond ETFScore 86
  3. Rank 37BFLMBFranklin Municipal Green Bond ETFScore 55
  4. Rank 37CFTMAFranklin Massachusetts Municipal Income ETFScore 55
  5. Rank 37BFTMNFranklin Minnesota Municipal Income ETFScore 55

Our read on each fund

ETF.net Research

FTMACFranklin Massachusetts Municipal Income ETF

VTEBAVanguard Tax-Exempt Bond ETF

In short

FTMA No data

VTEB Vanguard's national muni index fund, running since 2015 at three basis points, a tenth of what the typical muni ETF charges. Its benchmark screens for investment-grade bonds whose income is exempt from federal tax and the AMT.

Stated mandate

FTMA No data

VTEB VTEB seeks to track an index measuring the investment-grade segment of the U.S. municipal bond market. It uses passive sampling to approximate the index and generally invests in federally tax-exempt municipal securities.

Why people hold it

FTMA No data

  • VTEB Three basis points a year against a 0.30% muni-ETF median. On tax-exempt bonds, where coupons are modest, that fee gap is a real slice of the payout.
  • The index holds only investment-grade munis whose interest is exempt from federal income tax and the alternative minimum tax, so the income carries no AMT surprise.vanguard.com
  • A multi-billion-dollar fund and one of the most heavily traded in the muni category, which tends to show up as tight bid-ask spreads. Income is paid monthly.
  • It has tracked its benchmark closely and sits among the strongest implementations in a crowded muni bond peer group.

Worth knowing

FTMA No data

  • VTEB Federal exemption, not blanket coverage. Income can still be taxable in your home state, which is why single-state funds like NYF exist alongside it.vanguard.com
  • Credit quality is investment grade, so rates are the main swing factor: when muni yields rise, bond prices and the fund's share price fall.vanguard.com
  • Sampling, not full replication. The fund owns a representative slice of a very large index rather than every bond in it.vanguard.com

Full FTMA profile⁠

Full VTEB profile⁠

FTMA vs VTEB Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FTMA vs VTEB Cost

Overpaying FTMA vs VTEB

$6,488

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FTMA 0.35%

    $7,126

  • VTEB 0.03%

    $638

$10,000
30 years

Cost over time

  • FTMA 0.35%
  • VTEB 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530FTMA $7,126VTEB $638

Year by year

YearFTMAVTEBOverpaying
10$634$55$579
20$2,454$216$2,238
30$7,126$638$6,488

Expense ratio

  • 0.35%FTMA
  • 0.03%VTEB, cheaper
  • Middle half of Other Municipal Bond funds
  • Median 0.30%

VTEB cheapest of 63 funds

FTMA 37th cheapest of 63 funds

FTMA vs VTEB Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FTMA No data
VTEB 3.47%
Payout (12M)
FTMA No data
VTEB $1.70
Last payment
FTMA $0.03
VTEB $0.14
Ex-dividend
FTMA Oct 1, 2026
VTEB Oct 1, 2026
Paid on
FTMA Oct 6, 2026
VTEB Oct 5, 2026
Frequency
FTMA Monthly
VTEB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FTMAMonthly · 11 paymentsAll FTMA payments⁠
One bar per payment. 11 payments from 2023 to 2026 YTD. Dec 1, 2025 $0.02; Dec 19, 2025 $0.03; Feb 2, 2026 $0.02; Mar 2, 2026 $0.02; Apr 1, 2026 $0.03; May 1, 2026 $0.03; Jun 1, 2026 $0.03; Jul 1, 2026 $0.03; Aug 3, 2026 $0.03; Sep 1, 2026 $0.03; Oct 1, 2026 $0.03. Use the arrow keys to read each point.$0$0.1020232026YTD
VTEBMonthly · 45 paymentsAll VTEB payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.11; Mar 1, 2023 $0.12; Apr 3, 2023 $0.11; May 1, 2023 $0.12; Jun 1, 2023 $0.11; Jul 3, 2023 $0.12; Aug 1, 2023 $0.12; Sep 1, 2023 $0.12; Oct 2, 2023 $0.12; Nov 1, 2023 $0.12; Dec 1, 2023 $0.13; Dec 22, 2023 $0.13; Feb 1, 2024 $0.13; Mar 1, 2024 $0.13; Apr 1, 2024 $0.13; May 1, 2024 $0.13; Jun 3, 2024 $0.13; Jul 1, 2024 $0.13; Aug 1, 2024 $0.13; Sep 3, 2024 $0.13; Oct 1, 2024 $0.13; Nov 1, 2024 $0.13; Dec 2, 2024 $0.13; Dec 24, 2024 $0.13; Feb 3, 2025 $0.13; Mar 3, 2025 $0.14; Apr 1, 2025 $0.14; May 1, 2025 $0.14; Jun 2, 2025 $0.14; Jul 1, 2025 $0.14; Aug 1, 2025 $0.14; Sep 2, 2025 $0.14; Oct 1, 2025 $0.14; Nov 3, 2025 $0.14; Dec 1, 2025 $0.14; Dec 18, 2025 $0.14; Feb 2, 2026 $0.14; Mar 2, 2026 $0.15; Apr 1, 2026 $0.14; May 1, 2026 $0.14; Jun 1, 2026 $0.14; Jul 1, 2026 $0.14; Aug 3, 2026 $0.14; Sep 1, 2026 $0.14; Oct 1, 2026 $0.14. Use the arrow keys to read each point.$0$0.1020232026YTD

FTMA vs VTEB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FTMA No dataVTEB 5.8%
Return per unit of riskSharpe ratio, 3 years
FTMA No dataVTEB −0.004
Worst fallMax drawdown, 5 years
FTMA No dataVTEB −12.3%
Market sensitivityBeta, 5 years
FTMA 0.13VTEB 0.95

FTMA and VTEB in the news

All news⁠

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