Vanguard Intermediate-Term Tax-Exempt Bond (VTEI) Performance
VTEI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.7% since Dec 31, 2025
- 1 year
- −0.1% total return
- Since first price
- +5.5% since 2024
VTEI trailing returns vs AGG, TLT, SPY
| Period | VTEI total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +2.0% | +1.7% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.4% | −1.2% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.6% | −3.1% | −1.5% | −3.8% | +7.8% |
| YTD | −0.7% | −3.0% | −1.0% | −3.4% | +12.3% |
| 1 year | −0.1% | −3.2% | −1.1% | −6.9% | +14.4% |
| Since inceptionJan 30, 2024 | +5.5% | −2.7% | — | — | — |
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: VTEI vs AGG
From Jan 30, 2024: VTEI grew to $10,546, AGG to $10,820.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VTEI returns by calendar year
1 of 1 full years positive. Best 2025 (+4.6%), worst 2025 (+4.6%). 2026 is year to date.
VTEI annual returns table
| Year | VTEI | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.7% | −6.1% | −1.0% | −3.4% | +12.3% |
| 2025 | +4.6% | −3.6% | +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.
VTEI largest drawdowns
Now 2.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 27, 2026 | −6.1% | 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.
VTEI risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +0.8% |
| Volatility (annualized) | 3.9% |
| Sharpe ratio | -0.88 |
| Sortino ratio | -0.95 |
| Best month | +1.8% |
| Worst month | −3.3% |
| Best 12 months | +6.1% |
| Worst 12 months | −2.0% |
| Positive months | 59% |
| 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.
VTEI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 22 | −2.0% | +2.9% | +6.1% | 91% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
VTEI performance overview
Vanguard Intermediate-Term Tax-Exempt Bond (VTEI) returned −0.1% over the past year, with distributions reinvested. Since its first recorded price on Jan 30, 2024 it has returned +5.5%. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −6.1%, from Feb 27, 2026 to Sep 29, 2026; the fund has not yet regained that high. Volatility has been 3.9% a year.
Related: VTEI chart, VTEI dividends, VTEI bond profile. See the VTEI overview for the latest quote and fund facts.
VTEI performance FAQ
What is the VTEI return over the past year?
VTEI returned −0.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.2%.
How much would $10,000 invested in VTEI be worth?
$10,000 invested in VTEI at its first recorded close on January 30, 2024 would be worth about $10,546 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of VTEI?
The largest peak-to-trough decline was −6.1% between February 27, 2026 and September 29, 2026. It has not yet recovered to that high; it is 2.6% below its peak.
How volatile is VTEI?
Over the past history VTEI had an annualized volatility of 3.9% and a Sharpe ratio of -0.88 (excess return over 1–3 month T-bills per unit of risk).