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 +2.08% over the past year and −2.87% YTD, with dividends reinvested. Since Aug. 25, 2015, VTEB is down −8.92% in real purchasing-power return, or −0.85%/yr, and is currently −19.04% below its real total-return high on Feb. 10, 2021.

Data ending Fri Jul. 24, 2026

Growth of $10,000

Tue 2015-08-25💬 to Fri 2026-07-24 Overall
Return
Exponential
Trendline
VTEB
×
−8.92%
−0.85%/yr
−1.49%/yr
R2=0.440
Vanguard Tax-Exempt Bond Index Fund ETF Shares Exchange-Traded Fund

Growth of $10,000 Summary

Tue 2015-08-25💬 to Fri 2026-07-24 Start
Value
End
Value
VTEB
×
$10,000.00
2015-08-25
$9,107.92
2026-07-24

This Year’s Performance

through 2026-07-24

  YTD YoY
VTEB
×
−2.87% +2.08%

Drawdowns

  Current
Drawdown
Worst
Drawdown
VTEB
×
−19.04%
on 2026-07-24
from 2021-02-10 peak
−23.09%
on 2023-10-25
from 2021-02-10 peak

Rolling Returns

Period ending Fri 2026-07-24 1 yr 2 yr 3 yr 5 yr 10 yr
VTEB
×
+2.08% −1.11%
−0.55%/yr
−1.15%
−0.38%/yr
−16.39%
−3.52%/yr
−13.22%
−1.41%/yr

Annual Returns

Year VTEB
2026 (YTD) −2.87%
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 −1.85%
2015 +3.25%