Skip to content
etf.net

TAFL vs VTEL

AB Tax-Aware Long Municipal ETF

TAFLCNYSE Arca

Vanguard Long-Term Tax-Exempt Bond ETF

VTELBCboe

Overlap

No data

Expense ratio

VTEL −0.19pt a year

TAFL0.28%VTEL0.09%

Avg volume · 30D

VTEL 5.3×the volume

TAFL20.4KVTEL108K

TAFL vs VTEL Performance

Oct 31, 2025 – Oct 30, 2026

−0.7%TAFL−1.0%VTEL

Oct 31, 2025 to Oct 30, 2026. TAFL −0.7%. VTEL −1.0%. Use the arrow keys to read each point.−6%−4%2%Oct 2025Apr 2026Oct 2026
Expense ratio
TAFL 0.28%
VTEL 0.09%, better
Fund size
TAFL $59M
VTEL $417M
1Y total return
TAFL −0.7%, better
VTEL −1.0%
Yield (12M)
TAFL 4.27%, better
VTEL 3.93%
Holdings
TAFL 140
VTEL 4926
Avg volume (30D)
TAFL 20.4K sh
VTEL 108K sh, better
NAV per share
TAFL $24.14
VTEL $99.55
52W range

ETF.net Grade

TAFL: Cost 23, Risk 48, Mission 57, Tradability 50, Holdings 52, Durability 37. VTEL: Cost 80, Risk 48, Mission 59, Tradability 63, Holdings 77, Durability 53.
Pillar letters and Scores for TAFL, VTEL, with each pillar’s weight
PillarTAFLVTEL
Cost30% weightF23A80Higher
Mission25% weightB57B59Higher
Risk15% weightC48C48
Tradability15% weightC50B63Higher
Holdings10% weightC52A77Higher
Durability5% weightD37C53Higher

Rank among Long-Duration Municipal Bonds funds

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

Same Category. TAFL and VTEL are both graded against the same 5 Long-Duration Municipal Bonds funds, so their Grades compare head to head.

Long-Duration Municipal Bonds⁠

Category · 5 funds
See all 5 ›

VTEL ranks 1st and TAFL 5th of 5 funds in the Long-Duration Municipal Bonds Category.

  1. Rank 1BVTELVanguard Long-Term Tax-Exempt Bond ETFScore 65
  2. Rank 2BLMUBiShares Long-Term National Muni Bond ETFScore 63
  3. Rank 4CTMNLT. Rowe Price Long Municipal Income ETFScore 45
  4. Rank 5CTAFLAB Tax-Aware Long Municipal ETFScore 42

Our read on each fund

ETF.net Research

TAFLCAB Tax-Aware Long Municipal ETF

VTELBVanguard Long-Term Tax-Exempt Bond ETF

In short

TAFL Most muni ETFs hug an index. TAFL is the active take on the long end of the tax-exempt curve, run by AB's municipal desk for after-tax income, at 0.28% a year.

VTEL No data

Stated mandate

TAFL The Fund seeks enhanced income and attractive risk-adjusted after-tax returns.

VTEL No data

Why people hold it

  • TAFL Active, not index-bound: the stated mandate is enhanced income and attractive risk-adjusted after-tax returns, so the desk picks its spots on the long curve.
  • At 0.28% a year it comes in under the typical municipal bond ETF, unusual for an actively run fund.
  • Income lands monthly, drawn from a focused book of roughly 120 national municipal bonds rather than a thousand-line index sleeve.
  • Does what it says on the tin: the portfolio has stayed tight to its long national muni mandate, and it lands in the upper half of a crowded muni field.

VTEL No data

Worth knowing

  • TAFL Long-maturity bonds move more when rates move. Expect bigger price swings than short or intermediate muni funds, in both directions.alliancebernstein.com
  • Index staples cost far less: VTEB runs 0.03% and MUB 0.05%. You are paying for the active long-curve call.
  • Still a small, thinly traded fund since its 2023 launch, so spreads can run wider than the muni giants.

VTEL No data

Full TAFL profile⁠

Full VTEL profile⁠

TAFL vs VTEL 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.

TAFL vs VTEL Cost

Overpaying TAFL vs VTEL

$3,857

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

  • TAFL 0.28%

    $5,755

  • VTEL 0.09%

    $1,898

$10,000
30 years

Cost over time

  • TAFL 0.28%
  • VTEL 0.09%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530TAFL $5,755VTEL $1,898

Year by year

YearTAFLVTELOverpaying
10$509$165$344
20$1,976$646$1,330
30$5,755$1,898$3,857

Expense ratio

  • 0.28%TAFL
  • 0.09%VTEL, cheaper
  • Middle half of Long-Duration Municipal Bonds funds
  • Median 0.24%

VTEL cheapest of 5 funds

TAFL 5th cheapest of 5 funds

TAFL vs VTEL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
TAFL 4.27%, better
VTEL 3.93%
Payout (12M)
TAFL $1.03
VTEL $3.91
Last payment
TAFL $0.09
VTEL $0.32
Ex-dividend
TAFL Oct 1, 2026
VTEL Oct 1, 2026
Paid on
TAFL Oct 6, 2026
VTEL Oct 5, 2026
Frequency
TAFL Monthly
VTEL Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

TAFLMonthly · 34 paymentsAll TAFL payments⁠
One bar per payment. 34 payments from 2023 to 2026 YTD. Dec 28, 2023 $0.05; Feb 1, 2024 $0.08; Mar 1, 2024 $0.07; Apr 1, 2024 $0.08; May 1, 2024 $0.08; Jun 3, 2024 $0.08; Jul 1, 2024 $0.08; Aug 1, 2024 $0.08; Sep 3, 2024 $0.08; Oct 1, 2024 $0.08; Nov 1, 2024 $0.09; Dec 2, 2024 $0.08; Dec 30, 2024 $0.09; Feb 3, 2025 $0.08; Mar 3, 2025 $0.09; Apr 1, 2025 $0.09; May 1, 2025 $0.08; Jun 2, 2025 $0.09; Jul 1, 2025 $0.08; Aug 1, 2025 $0.09; Sep 2, 2025 $0.08; Oct 1, 2025 $0.08; Nov 3, 2025 $0.08; Dec 1, 2025 $0.08; Dec 31, 2025 $0.10; Feb 2, 2026 $0.08; Mar 2, 2026 $0.09; Apr 1, 2026 $0.09; May 1, 2026 $0.09; Jun 1, 2026 $0.08; Jul 1, 2026 $0.09; Aug 3, 2026 $0.09; Sep 1, 2026 $0.08; Oct 1, 2026 $0.09. Use the arrow keys to read each point.$0$0.5020232026YTD
VTELMonthly · 16 paymentsAll VTEL payments⁠
One bar per payment. 16 payments from 2023 to 2026 YTD. Jul 1, 2025 $0.47; Aug 1, 2025 $0.25; Sep 2, 2025 $0.32; Oct 1, 2025 $0.30; Nov 3, 2025 $0.31; Dec 1, 2025 $0.33; Dec 18, 2025 $0.34; Feb 2, 2026 $0.33; Mar 2, 2026 $0.31; Apr 1, 2026 $0.34; May 1, 2026 $0.34; Jun 1, 2026 $0.33; Jul 1, 2026 $0.34; Aug 3, 2026 $0.31; Sep 1, 2026 $0.31; Oct 1, 2026 $0.32. Use the arrow keys to read each point.$0$0.5020232026YTD

TAFL vs VTEL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TAFL 5.9%since Jan 2024VTEL 7.4%since Jun 2025
Return per unit of riskSharpe ratio, 3 years
TAFL −0.43since Jan 2024VTEL −0.03since Jun 2025
Worst fallMax drawdown, 5 years
TAFL −7.8%since Dec 2023VTEL −8.6%since May 2025
Market sensitivityBeta, 5 years
TAFL 0.19VTEL 0.22

Popular comparisons

  • TAFLCvsLMUBB

    AB Tax-Aware Long Municipal ETF · iShares Long-Term National Muni Bond ETF

    Expense ratio
    0.28% · 0.09%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • VTELBvsLMUBB

    Vanguard Long-Term Tax-Exempt Bond ETF · iShares Long-Term National Muni Bond ETF

    Expense ratio
    0.09% · 0.09%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TAFLCvsMLNB

    AB Tax-Aware Long Municipal ETF · VanEck Long Muni ETF

    Expense ratio
    0.28% · 0.24%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • VTELBvsMLNB

    Vanguard Long-Term Tax-Exempt Bond ETF · VanEck Long Muni ETF

    Expense ratio
    0.09% · 0.24%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TAFLCvsTMNLC

    AB Tax-Aware Long Municipal ETF · T. Rowe Price Long Municipal Income ETF

    Expense ratio
    0.28% · 0.26%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • VTELBvsTMNLC

    Vanguard Long-Term Tax-Exempt Bond ETF · T. Rowe Price Long Municipal Income ETF

    Expense ratio
    0.09% · 0.26%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.