# Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vteax for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Vanguard · Asset class: Municipal Bond - Strategy: Passive Index · Inception: 2015-08-25 This index fund seeks to replicate the performance of a benchmark index representing the investment-grade portion of the U.S. municipal bond market. It achieves this by employing an indexing strategy designed to track the Standard & Poor’s National AMT-Free Municipal Bond Index, utilizing a sampling technique to align with key characteristics of the benchmark. All holdings are selected through this sampling process, ensuring that at least 80% of the fund's assets are invested in securities found within the index. Under typical circumstances, a minimum of 80% of the fund's assets will be ded... ## Key Facts | Metric | Value | |---|---| | Price | $19.47 | | Expense Ratio | 0.07% | | Assets Under Management | $52.40B | | NAV | $19.47 | | Holdings Count | 9889 | | Distribution Yield (TTM) | 3.45% | | Annual Distribution (TTM) | $0.67 /share | | Distribution Frequency | Monthly | | 52-Week Range | $18.76 – $20.46 | | Beta | 0.95 | ## Latest Distribution - Amount: $0.0543 /share - Ex-date: 2026-10-01 - Pay date: 2026-10-02 ## Frequently Asked Questions ### What does VTEAX invest in? This index fund seeks to replicate the performance of a benchmark index representing the investment-grade portion of the U.S. municipal bond market. It achieves this by employing an indexing strategy designed to track the Standard & Poor’s National AMT-Free Municipal Bond Index, utilizing a sampling technique to align with key characteristics of the benchmark. All holdings are selected through this sampling process, ensuring that at least 80% of the fund's assets are invested in securities found within the index. Under typical circumstances, a minimum of 80% of the fund's assets will be dedicated to securities whose income is exempt from federal income taxes and the federal alternative minimum tax. A notable risk for the fund is that changes in interest rates can negatively impact it: rising rates may cause bond prices to fall, while declining rates could eventually reduce the fund's income. This fund may appeal to investors looking for potentially federal tax-exempt income who can tolerate moderate fluctuations in both price and income. Regarding 75% of its total assets, the fund is restricted from purchasing more than 10% of any issuer's outstanding voting securities, or investing over 5% of its total assets in a single issuer, unless doing so is essential to closely match its target index. These specific limitations do not extend to obligations issued by the U.S. government or its agencies. ### What is the expense ratio of VTEAX? Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) charges an expense ratio of 0.07%. This is the annual fee deducted from fund assets to cover management and operations. ### What is VTEAX's dividend yield? VTEAX's trailing-twelve-month yield is 3.45%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of VTEAX? Effective duration measures VTEAX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. VTEAX's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of VTEAX? VTEAX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of VTEAX? Yield to maturity (YTM) is the total return you'd earn from VTEAX if every bond in the portfolio is held to maturity at the current price. VTEAX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does VTEAX pay a dividend? Yes, Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) distributes dividends to shareholders. The trailing-twelve-month yield is 3.45%. Full dividend history is on this page. ### How often does VTEAX pay dividends? Vanguard Tax-Exempt Bond Index Fund Admiral Shares pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is VTEAX's next ex-dividend date? The most recently announced ex-dividend date for VTEAX was 2026-10-01. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will VTEAX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.07% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does VTEAX charge its expense ratio? The expense ratio is deducted in tiny daily slices from VTEAX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does VTEAX cost more than a fund like VOO? VTEAX is a passive index fund (current expense ratio 0.07%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to VTEAX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as VTEAX (0.07%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/vteax - Distribution history: https://www.dividenddata.com/funds/vteax/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vteax/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vteax/expenses - Peer comparison: https://www.dividenddata.com/funds/vteax/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.