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Sunday, August 23, 2026The Morning Brief →Sign in

Vanguard Short-Term Tax-Exempt Bond ETF Shares

$100.85+0.01% today
10010352-WK

The fund invests by sampling the index, meaning that it holds a range of securities that, in the aggregate, approximates the full index in terms of key risk factors and other characteristics.

Price & daily flows
102.2101.5100.9100.85DAILY NET FLOWAug 22Dec 19Apr 21Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN

The desk’s read

Flows are quiet — the past month netted out near zero, while the price has returned -0.7% so far this year. At 0.070% a year it is not the cheapest way in — IJH runs the same ground at 0.05%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$491Massets under management
0.070%expense ratio · $7 per $10,000 a year
net flow, trailing month
199Kavg daily volume, 30 days
0holdings
2023listed March 6, 2023 · beta 0.03
Sector weights
Cash & Others100%
Municipal98.98%
Cash1.02%
Corporate0.32%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week-0.0%
1 month+0.5%
3 months+0.0%
6 months-1.6%
YTD-0.7%
1 year-0.8%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week
1 month
3 months
YTD
1 year

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

The risk read
1%realized volatility, 30 days (annualized)
1%realized volatility, 1 year
-2.2%deepest fall from a peak, 1 year
-1.8%where it sits vs. that peak today

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
calls today
puts today
put/call ratio
153Kshares traded
The case against VTES

Due diligence cuts both ways. These funds sit on the same shelf and beat VTES on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
STIP iShares 0-5 Year TIPS Bond ETF0.03%$16B+$288M-4bp on fee · 33× the assets · +$288M in over the monthHead-to-head
MBB iShares MBS ETF0.04%$39B+$26M-3bp on fee · 79× the assets · +$26M in over the monthHead-to-head
IJH iShares Core S&P Mid-Cap ETF0.05%$128.4B+$547M-2bp on fee · 261× the assets · +$547M in over the monthHead-to-head
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF0.04%$23.4B+$520M-3bp on fee · 48× the assets · +$520M in over the monthHead-to-head
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF0.04%$18.7B+$312M-3bp on fee · 38× the assets · +$312M in over the monthHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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