Vanguard California Tax-Exempt Bond ETF (VTEC) Performance
VTEC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.6% since Dec 31, 2025
- 1 year
- −1.0% total return
- Since first price
- +3.8% since 2024
VTEC trailing returns vs AGG, TLT, SPY
| Period | VTEC total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.5% | +1.2% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.3% | −2.1% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.2% | −3.8% | −1.5% | −3.8% | +7.8% |
| YTD | −1.6% | −3.8% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.0% | −4.1% | −1.1% | −6.9% | +14.4% |
| Since inceptionJan 30, 2024 | +3.8% | −4.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: VTEC vs AGG
From Jan 30, 2024: VTEC grew to $10,383, AGG to $10,820.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VTEC returns by calendar year
1 of 1 full years positive. Best 2025 (+4.0%), worst 2025 (+4.0%). 2026 is year to date.
VTEC annual returns table
| Year | VTEC | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.6% | −6.4% | −1.0% | −3.4% | +12.3% |
| 2025 | +4.0% | −4.3% | +7.2% | +4.3% | +17.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
VTEC largest drawdowns
Now 3.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 27, 2026 | −6.4% | Sep 29, 2026 | not yet | 7 months | 8 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
VTEC risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +0.3% |
| Volatility (annualized) | 4.5% |
| Sharpe ratio | -0.87 |
| Sortino ratio | -0.95 |
| Best month | +2.5% |
| Worst month | −3.7% |
| Best 12 months | +6.4% |
| Worst 12 months | −2.5% |
| Positive months | 62% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
VTEC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 22 | −2.5% | +2.4% | +6.4% | 86% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
VTEC performance overview
Vanguard California Tax-Exempt Bond ETF (VTEC) returned −1.0% over the past year, with distributions reinvested. Since its first recorded price on Jan 30, 2024 it has returned +3.8%. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −6.4%, from Feb 27, 2026 to Sep 29, 2026; the fund has not yet regained that high. Volatility has been 4.5% a year.
Related: VTEC chart, VTEC dividends, VTEC bond profile. See the VTEC overview for the latest quote and fund facts.
VTEC performance FAQ
What is the VTEC return over the past year?
VTEC returned −1.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.1%.
How much would $10,000 invested in VTEC be worth?
$10,000 invested in VTEC at its first recorded close on January 30, 2024 would be worth about $10,383 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of VTEC?
The largest peak-to-trough decline was −6.4% between February 27, 2026 and September 29, 2026. It has not yet recovered to that high; it is 3.3% below its peak.
How volatile is VTEC?
Over the past history VTEC had an annualized volatility of 4.5% and a Sharpe ratio of -0.87 (excess return over 1–3 month T-bills per unit of risk).