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 −5.03% over the past year and −6.79% YTD, with dividends reinvested. Since Aug. 25, 2015, VTEB is down −12.59% in real purchasing-power return, or −1.21%/yr, and is currently −22.31% below its real total-return high on Feb. 10, 2021.

Data ending Fri Sep. 25, 2026

Growth of $10,000

Tue 2015-08-25💬 to Fri 2026-09-25 Overall
Return 		Exponential
Trendline
VTEB × 		−12.59%
−1.21%/yr 		−1.50%/yr
R2=0.455
Vanguard Tax-Exempt Bond Index Fund ETF Shares Exchange-Traded Fund

Growth of $10,000 Summary

Tue 2015-08-25💬 to Fri 2026-09-25 Start
Value 		End
Value
VTEB × 		$10,000.00
2015-08-25 		$8,740.61
2026-09-25

This Year’s Performance

through 2026-09-25

  YTD YoY
VTEB × 		−6.79% −5.03%

Drawdowns

  Current
Drawdown 		Worst
Drawdown
VTEB × 		−22.31%
on 2026-09-25
from 2021-02-10 peak 		−23.09%
on 2023-10-25
from 2021-02-10 peak

Rolling Returns

Period ending Fri 2026-09-25 1 yr 2 yr 3 yr 5 yr 10 yr
VTEB × 		−5.03% −6.56%
−3.34%/yr 		−0.85%
−0.28%/yr 		−18.80%
−4.08%/yr 		−16.59%
−1.80%/yr

Annual Returns

Year VTEB
2026 (YTD) −6.79%
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%