VTEL's largest holdings are Vanguard Cmt Funds-Vanguard Municipal Cash Management Fund, State of California, University of California, State of California, BATTERY PARK CITY NY AUTH. The full top list is on this page.

How concentrated is VTEL?

The top 10 holdings are 2.5% of the fund, across 3211 positions.

The total expense ratio on record is 0.09%. That is cheaper than 83% of the 786 US-listed bond funds we track.

US-listed

VTEL

Track the performance of the S&P 10+ Year National AMT-Free Municipal Bond Index.

Vanguard Long-Term Tax-Exempt Bond ETF

Vanguard

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Concentration

Well diversifiedtop 10 = 2.5%

diversifiedconcentrated

GROWTH · NAV (USD)rebased to 0%

Holdings

3211

as of 2026-01-31

Top 10

2.5%

TER

0.09%

cheaper than 83% of peers

Net assets

≈ US$199M

as filed

Largest

0.9%

P / E

–

Sections

Holdings as of 2026-01-31.

01Overview

the fund's regulatory facts

Fund currency

USD

Volatility 1Y

3.7%

How it tracks

Index, sampling

02Performance

price · as of 2026-07-16

-0.2%

+1.0%

+1.4%

YTD

+1.9%

+8.8%

03Holdings

50 largest · as of 2026-01-31

#	Company	Identifier	Weight
1	Vanguard Cmt Funds-Vanguard Municipal Cash Management Fund US	–	0.9
2	State of California US	US13063ENC65	0.3
3	University of California US	US91412HWH29	0.2
4	State of California US	US13063EMY94	0.2
5	BATTERY PARK CITY NY AUTH US	US07133AJM53	0.2
6	Metropolitan Transportation Authority (Green Bonds) US	US59261AG435	0.2
7	County of Miami-Dade US	US59334DLV46	0.2
8	Washington Metropolitan Area Transit Authority US	DCTGEN	0.2
9	New York City Transitional Finance Authority Future Tax Secured Revenue US	US64972JD214	0.2
10	Oklahoma Turnpike Authority US	US679111E913	0.1
11	State of California US	CAS	0.1
12	Hudson Yards Infrastructure Corp. US	US44420RBE99	0.1
13	New York City Transitional Finance Authority Future Tax Secured US	US64972JYS13	0.1
14	Indiana (State of) Municipal Power Agency US	US454898TX53	0.1
15	New York City Transitional Finance Authority Future Tax Secured US	US64972JYR30	0.1
16	Pennsylvania (Commonwealth of) Turnpike Commission US	US709224QF92	0.1
17	Lower Colorado River Authority (LCRA Transmission Services Corp.) US	US54811BYU96	0.1
18	Grand Parkway Transportation Corp. (TELA Supported) US	US38611TBQ94	0.1
19	Metropolitan Pier & Exposition Authority US	US592250DM38	0.1
20	New Jersey Transportation Trust Fund Authority US	US64613CER51	0.1
21	ILLINOIS ST TOLL HWY AU HWY RV US	US452252PQ68	0.1
22	SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV US	US79739GFR20	0.1
23	New Jersey Transportation Trust Fund Authority US	US64613CHS08	0.1
24	California State Public Works Board US	US13068XMG15	0.1
25	Commonwealth of Massachusetts US	US57582TDJ88	0.1
26	University of California US	US91412HND16	0.1
27	University of Michigan US	US914455SB74	0.1
28	County of Jefferson AL Sewer Revenue US	US472682ZS54	0.1
29	New York City Municipal Water Finance Authority US	US64972GS390	0.1
30	Texas Water Development Board US	US88285AKD99	0.1
31	Hudson Yards Infrastructure Corp US	HUYGEN	0.1
32	FORT LAUDERDALE FL WTR & SWR R US	US347658ZA74	0.1
33	State of California US	US13063EMV55	0.1
34	New York City Transitional Finance Authority Future Tax Secured Revenue US	US64971XT999	0.1
35	City of New York NY US	US64966QZ297	0.1
36	New York State Dormitory Authority US	US64990AYB50	0.1
37	New York (City of), NY Transitional Finance Authority US	US64972HY974	0.1
38	Energy Northwest (Columbia Generating Station) US	US29270C2T16	0.1
39	ILLINOIS ST SALES TAX REV US	US452227WC18	0.1
40	New York (City of), NY Municipal Water Finance Authority US	US64972GXB57	0.1
41	New York City Municipal Water Finance Authority US	US64972GB297	0.1
42	Pennsylvania (Commonwealth of) Turnpike Commission US	US709224QG75	0.1
43	City of Los Angeles Department of Airports US	US544445TS80	0.1
44	Spring Independent School District US	US850001AY49	0.1
45	New Jersey Transportation Trust Fund Authority US	US64613CEU80	0.1
46	New York City Transitional Finance Authority Future Tax Secured Revenue US	US64972JZC51	0.1
47	New York City Transitional Finance Authority Building Aid Revenue US	US64972HK684	0.1
48	City of New York US	US64966QXW58	0.1
49	Mansfield Independent School District US	US564386VN72	0.1
50	Hudson Yards Infrastructure Corp US	HUYGEN	0.1

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04Exposure

Bonds 99.1%Cash 0.9%

By country

USUnited States99.6%

CurrencyUSD 99.6%

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