All charts and data below are CPI-U inflation-adjusted and with dividends reinvested. (Why?)

Total Real Returns

VTEB: Total Real Return Chart (Dividends Reinvested, Inflation Adjusted)

VTEB real return snapshot: after CPI-U inflation, VTEB returned −0.27% over the past year and −3.81% YTD, with dividends reinvested. Since Aug. 25, 2015, VTEB is down −9.80% in real purchasing-power return, or −0.93%/yr, and is currently −19.82% below its real total-return high on Feb. 10, 2021.

Data ending Fri Sep. 4, 2026

Growth of $10,000

Tue 2015-08-25💬 to Fri 2026-09-04 Overall
Return 		Exponential
Trendline
VTEB × 		−9.80%
−0.93%/yr 		−1.49%/yr
R2=0.449
Vanguard Tax-Exempt Bond Index Fund ETF Shares Exchange-Traded Fund

Growth of $10,000 Summary

Tue 2015-08-25💬 to Fri 2026-09-04 Start
Value 		End
Value
VTEB × 		$10,000.00
2015-08-25 		$9,019.99
2026-09-04

This Year’s Performance

through 2026-09-04

  YTD YoY
VTEB × 		−3.81% −0.27%

Drawdowns

  Current
Drawdown 		Worst
Drawdown
VTEB × 		−19.82%
on 2026-09-04
from 2021-02-10 peak 		−23.09%
on 2023-10-25
from 2021-02-10 peak

Rolling Returns

Period ending Fri 2026-09-04 1 yr 2 yr 3 yr 5 yr 10 yr
VTEB × 		−0.27% −3.30%
−1.67%/yr 		+0.13%
+0.04%/yr 		−16.54%
−3.55%/yr 		−14.43%
−1.55%/yr

Annual Returns

Year VTEB
2026 (YTD) −3.81%
2025 +1.02%
2024 −1.53%
2023 +2.71%
2022 −13.58%
2021 −5.51%
2020 +3.78%
2019 +4.95%
2018 −0.84%
2017 +2.69%
2016 −1.86%
2015 +3.25%