VTEB vs WTMU: Grades, Fees and Holdings Compared

Vanguard Tax-Exempt Bond ETF

VTEBANYSE Arca

WisdomTree Core Laddered Municipal Fund

WTMUBNasdaq

Overlap

No data

Expense ratio

VTEB −0.22pt a year

VTEB0.03%WTMU0.25%

Avg volume · 30D

VTEB 19316.5×the volume

VTEB17.2MWTMU888

VTEB vs WTMU Performance

Oct 31, 2025 – Oct 30, 2026

+0.1%VTEB−0.2%WTMU

Expense ratio: VTEB 0.03%, better; WTMU 0.25%
Fund size: VTEB $52.4B; WTMU $9M
1Y total return: VTEB +0.1%, better; WTMU −0.2%
Yield (12M): VTEB 3.47%, better; WTMU 3.25%
Holdings: VTEB 11156; WTMU 90
Avg volume (30D): VTEB 17.2M sh, better; WTMU 888 sh
NAV per share: VTEB $48.83; WTMU $25.03
52W range

ETF.net Grade

Pillar letters and Scores for VTEB, WTMU, with each pillar’s weight
Pillar	VTEB	WTMU
Cost30% weight	A99Higher	A70
Mission25% weight	A100Higher	A71
Risk15% weight	B58Higher	C49
Tradability15% weight	A77Higher	C41
Holdings10% weight	A85Higher	C43
Durability5% weight	A95Higher	F18

Rank among Other Municipal Bond funds

How we build Categories ›

Same Category. VTEB and WTMU 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 WTMU 33rd of 63 funds in the Other Municipal Bond Category.

Rank 1AVTEBVanguard Tax-Exempt Bond ETFScore 88
Rank 2AMUBiShares National Muni Bond ETFScore 86
Rank 33BRVNUXtrackers Municipal Infrastructure Revenue Bond Active ETFScore 57
Rank 33BWTMUWisdomTree Core Laddered Municipal FundScore 57
Rank 37BFLMBFranklin Municipal Green Bond ETFScore 55

Our read on each fund

ETF.net Research

VTEBAVanguard Tax-Exempt Bond ETF

WTMUBWisdomTree Core Laddered Municipal Fund

In short

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.

WTMU No data

Stated mandate

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.

WTMU No data

Why people hold it

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.

WTMU No data

Worth knowing

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

WTMU No data

Full VTEB profile⁠

Full WTMU profile⁠

VTEB vs WTMU Holdings

How VTEB and WTMU differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Sector1 Sector100%

Sector

Sector weights in VTEB and WTMU, widest gap first
Sector	More in VTEBMore in WTMU	VTEB	WTMU
Municipal	Same weight	100.0%	100.0%

Country, concentration and asset class

Country by domicile

No country split for WTMU.

Concentration

Weight in the 10 largest Holdings

VTEB1.8%
WTMU26.8%

Securities held

VTEB7,991
WTMU88

Asset class

VTEB: Fixed Income
WTMU: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. VTEB holds 7,991 securities, WTMU 88.

All VTEB holdings⁠All 60 WTMU 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.

VTEB vs WTMU Cost

Overpaying WTMU vs VTEB

$4,521

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

VTEB 0.03%
$638
WTMU 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

VTEB 0.03%
WTMU 0.25%
Overpaying

Year by year

Year	VTEB	WTMU	Overpaying
10	$55	$455	$400
20	$216	$1,769	$1,553
30	$638	$5,159	$4,521

Expense ratio

0.03%VTEB, cheaper
0.25%WTMU

VTEB0.03%WTMU0.25%

0.03%4.59%

Middle half of Other Municipal Bond funds
Median 0.30%

VTEB cheapest of 63 funds

WTMU 17th cheapest of 63 funds

VTEB vs WTMU Dividends

Last 12 months to Oct 30, 2026

Yield (12M): VTEB 3.47%, better; WTMU 3.25%
Payout (12M): VTEB $1.70; WTMU $0.81
Last payment: VTEB $0.14; WTMU $0.08
Ex-dividend: VTEB Oct 1, 2026; WTMU Oct 27, 2026
Paid on: VTEB Oct 5, 2026; WTMU Oct 29, 2026
Frequency: VTEB Monthly; WTMU Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

VTEBMonthly · 45 paymentsAll VTEB payments⁠

WTMUMonthly · 19 paymentsAll WTMU payments⁠

VTEB vs WTMU Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: VTEB 5.8%WTMU 5.1%since May 2025
Return per unit of riskSharpe ratio, 3 years: VTEB −0.004WTMU −0.13since May 2025
Worst fallMax drawdown, 5 years: VTEB −12.3%WTMU −6.5%since Apr 2025
Market sensitivityBeta, 5 years: VTEB 0.95WTMU 0.13; Market = 1

VTEB and WTMU in the news

All news⁠

Best ETFs
Best bond ETFs for a portfolio hold the whole investment-grade market
Updated Nov 2, 2026VTEB
New ETFs
GMO's ETF share class costs more than the fund's $35 million Class III shares
Oct 22, 2026VTEB
Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Updated Oct 13, 2026VTEB
Bonds & Rates
Treasury yields ease from highs since 2002, but the climb was real yields
Oct 10, 2026VTEB
Best ETFs
Best bond ETFs: LQD, HYG and TLT cost more than the funds beside them
Updated Oct 2, 2026VTEB
Bonds & Rates
The 2-year yield rose 13 basis points after the Fed hike. Long Treasuries still gained
Sep 19, 2026VTEB

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VTEB vs WTMU

In short

Stated mandate

Why people hold it