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ETF comparison

MUNI vs VTEB

Both US Municipal Bond.

PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund · Vanguard Tax-Exempt Bond Index Fund ETF Shares

Holdings overlap

Weighted by ISIN/CUSIP
1.4 %

98 positions appear in both funds. Buying equal dollars of MUNI and VTEB would leave roughly 1.4% of each dollar exposed to the same underlying securities.

MUNI unmatched 97.2% Shared 1.4% VTEB unmatched 97.5%

Unmatched is the part of a fund's weight the other fund doesn't match: names only it holds, plus any extra weight it puts in names both funds hold.

In MUNI only
548 positions
Shared
98 positions
In VTEB only
10,493 positions

Side by side

MUNI

PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund

PIMCO · US Municipal Bond

79 composite / 100
Expense ratio
0.35%
Net assets
$3.09B
TTM yield
3.38%
Top-10 conc.
10.7%
VTEB

Vanguard Tax-Exempt Bond Index Fund ETF Shares

Vanguard · US Municipal Bond

97 composite / 100
Expense ratio
0.030%
Net assets
$51.71B
whole fund, 2 share classes
TTM yield
3.50%
Top-10 conc.
0.9%

Sub-score comparison

65
Cost
97
93
Tax efficiency
93
78
Liquidity
100
99
Concentration
100
—
Tracking quality
—
MUNI sub-score VTEB

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

VTEB is 32 bps cheaper than MUNI. On a $100,000 position that's about $320/yr more in fees for MUNI.

Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with MUNI vs VTEB.

Top shared holdings

98 shared in total
# Holding In MUNI In VTEB Overlap
1 State of Maryland 0.12% 0.09% 0.09%
2 Illinois State Toll Highway Authority 0.07% 0.06% 0.06%
3 Oklahoma City Public Property Authority 0.28% 0.05% 0.05%
4 City of San Antonio TX Electric & Gas Systems Revenue 0.37% 0.04% 0.04%
5 New York City Transitional Finance Authority Future Tax Secured Revenue 0.15% 0.04% 0.04%
6 Massachusetts Development Finance Agency 0.28% 0.04% 0.04%
7 Illinois State Toll Highway Authority 0.49% 0.04% 0.04%
8 City of Baltimore MD 0.11% 0.04% 0.04%
9 State of Illinois 0.24% 0.03% 0.03%
10 New York City Transitional Finance Authority Future Tax Secured Revenue 0.14% 0.03% 0.03%
11 District of Columbia 0.11% 0.03% 0.03%
12 City of Phoenix Civic Improvement Corp 0.27% 0.03% 0.03%

Only in MUNI

548 total
  • United States Treasury 2.20%
  • United States Treasury 1.78%
  • United States Treasury 1.16%
  • United States Treasury 0.86%
  • Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.81%
  • Connecticut State Health & Educational Facilities Authority 0.81%
  • Black Belt Energy Gas District 0.81%
  • Texas Municipal Gas Acquisition & Supply Corp V 0.80%
  • FHLMC Multifamily VRD Certificates 0.71%
  • Michigan State Housing Development Authority 0.70%

Only in VTEB

10,493 total
  • City of New York NY 0.12%
  • University of California 0.11%
  • State of Idaho 0.10%
  • State of California 0.10%
  • New York State Thruway Authority 0.09%
  • Triborough Bridge & Tunnel Authority 0.09%
  • Dallas Independent School District 0.08%
  • Ohio Water Development Authority Water Pollution Control Loan Fund 0.08%
  • Energy Northwest 0.08%
  • New York State Dormitory Authority 0.08%

Related comparisons

More comparisons with MUNI

More comparisons with VTEB

Percentages are holdings overlap with the named fund.

Open MUNI or VTEB at a brokerage

Both funds trade commission-free at major US brokerages.

Open at Fidelity

Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.

Holdings overlap is the sum of min(weight_a, weight_b) over positions matched on ISIN (CUSIP fallback). Methodology: see /methodology/.

Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.