Vanguard Short-Term Tax-Exempt Bond ETF

Frequently Asked Questions About VTES

What are the top holdings of VTES?

Vanguard Short-Term Tax-Exempt Bond ETF holds 2667 securities in total. The largest positions and their portfolio weights are listed on the Holdings tab.

How many holdings does VTES have?

VTES holds 2667 positions as reported by the fund's most recent disclosure.

What sectors does VTES invest in?

Vanguard Short-Term Tax-Exempt Bond ETF (VTES) allocates across the sectors shown above. The largest exposure tops the list; the rest follow in descending weight order.

What sector is VTES most exposed to?

VTES's full sector breakdown is on the Sectors tab. The largest sector weight is shown there along with the rest of the allocation.

Is VTES a US-only fund?

The country allocation card on this page shows VTES's geographic exposure. Funds with > 95% US weight are effectively US-only; international or global funds will show meaningful weights across multiple countries.

What does VTES invest in?

This fund's primary objective is to replicate the performance of a designated market index. This benchmark specifically measures the investment-grade segment of the U.S. municipal bond market, covering maturities from one month up to seven years. The fund pursues an indexing strategy, meticulously tracking the S&P 0-7 Year National AMT-Free Municipal Bond Index. It achieves this by employing a sampling methodology to closely mirror the index's core characteristics. All investment selections are made through this sampling process, ensuring that a minimum of 80% of the fund's total assets are invested in securities present within the underlying index. Typically, at least four-fifths (80%) of the fund's holdings aim to generate income exempt from both federal income taxes and the federal alternative minimum tax. Key risks include the impact of shifting interest rates. When rates climb, bond prices may fall, potentially decreasing the fund's value. Conversely, declining rates could eventually lead to reduced income for the fund. This offering may appeal to investors seeking federal tax-exempt income who are comfortable with moderate variations in both principal value and income generation. Regarding 75% of its total assets, the fund operates under specific diversification constraints: it is prohibited from acquiring more than 10% of the voting securities of any single issuer, and its exposure to any one issuer's securities generally cannot surpass 5% of its total assets. An exception to these limits is made when necessary to approximate the target index's composition. These particular restrictions do not apply to obligations issued by the U.S. government or its agencies and instrumentalities.