VTES Performance — Vanguard Short-Term Tax-Exempt Bond ETF
Data updated: 2026-07-29
VTES returned +0.61% year to date and +3.54% over one year to May 2026. The annualised 3-year return is +3.20%. The fund trailed its Short-Term Municipal Bond category average: $100 invested three years ago grew to $110, against $111 for the category, and to $104 over one year, against $104. Volatility over the past three years was 2.29% a year. In the 12 months to May 2026 the fund took in a net $954.0M, and assets reached $1.99B.
VTES Growth of $100
What $100 invested in Vanguard Short-Term Tax-Exempt Bond ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | VTES | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $104 | $104 |
| 3 years (Jun 2023 – May 2026) | $110 | $111 |
| Since data start (Mar 2023 – May 2026) | $110 | $111 |
VTES Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.61% |
| 1 year | +3.54% |
| 3 years (annualised) | +3.20% |
VTES Annual Returns
Calendar-year total returns of Vanguard Short-Term Tax-Exempt Bond ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +0.61% |
| 2025 | +4.15% |
| 2024 | +1.81% |
| 2023 (Mar–Dec) | +3.47% |
VTES Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.8% | +0.5% | −1.2% | +0.4% | +0.2% | — | — | — | — | — | — | — |
| 2025 | +0.5% | +0.6% | −0.4% | −0.2% | +0.6% | +0.7% | +0.6% | +0.6% | +0.4% | 0.0% | +0.2% | +0.3% |
| 2024 | −0.1% | +0.1% | −0.2% | −0.4% | −0.2% | +0.8% | +0.8% | +1.0% | +0.5% | −0.6% | +0.6% | −0.3% |
| 2023 | — | — | +1.4% | −0.4% | −0.5% | +0.5% | +0.2% | −0.2% | −1.1% | 0.0% | +2.5% | +1.1% |
VTES Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 2.29%
- 3-year Sharpe ratio: -0.57 (vs 4.5% risk-free rate)
- Best month: +2.53% (Nov 2023)
- Worst month: −1.22% (Mar 2026)
VTES Fund Flows
Monthly money in and out of Vanguard Short-Term Tax-Exempt Bond ETF, from SEC Form N-PORT.
- 12-month net flow: $954.0M
- 12-month gross sales (incl. reinvestments): $969.3M
- Sales ÷ redemptions: 63.53×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $98.4M | $0 | $98.4M |
| Apr 2026 | $53.2M | $0 | $53.2M |
| Mar 2026 | $94.1M | $0 | $94.1M |
| Feb 2026 | $102.9M | $0 | $102.9M |
| Jan 2026 | $58.6M | $15.3M | $43.3M |
| Dec 2025 | $78.6M | $0 | $78.6M |
| Nov 2025 | $86.2M | $0 | $86.2M |
| Oct 2025 | $48.2M | $0 | $48.2M |
| Sep 2025 | $71.4M | $0 | $71.4M |
| Aug 2025 | $60.8M | $0 | $60.8M |
| Jul 2025 | $136.4M | $0 | $136.4M |
| Jun 2025 | $80.4M | $0 | $80.4M |
VTES Assets Under Management
Net assets of Vanguard Short-Term Tax-Exempt Bond ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.99B |
| 2026-02-28 | $1.77B |
| 2025-11-30 | $1.53B |
| 2025-08-31 | $1.32B |
| 2025-05-31 | $1.03B |
| 2025-02-28 | $712.41M |
| 2024-11-30 | $560.51M |
| 2024-08-31 | $501.32M |
| 2024-05-31 | $440.30M |
| 2024-02-29 | $394.16M |
| 2023-11-30 | $390.53M |
| 2023-08-31 | $194.85M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.