# Portfolio overlap — VTES vs SUB Comparing **VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF** (2026-02-28) and **iShares Short-Term National Muni Bond ETF** (2026-02-28). - Shared positions: 810 - VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF covered by iShares Short-Term National Muni Bond ETF: 0.1753945224939522828932957368 - iShares Short-Term National Muni Bond ETF covered by VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF: 0.1753945224939522828932957375 ## VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Vanguard Municipal Cash Management Fund | 0.021044 | | | NYC TRANSITIONAL-G-1 | 0.003163 | | | CALIFORNIA ST-REF | 0.002916 | | | NEW JERSEY ST ECON DEV AUTH REVENUE | 0.002674 | | | Dallas Independent School District, Series 2026B | 0.002671 | ✓ | | State of Illinois, Series D | 0.002608 | ✓ | | State of New Jersey, Series 2020A | 0.002551 | ✓ | | New Jersey Transportation Trust Fund Authority, Series 2016A1 | 0.002468 | ✓ | | Wyandotte County Unified School District No. 500, Series A | 0.002303 | | | E CO AWP JT PWRS-A-1 | 0.002274 | ✓ | | CA REGENTS UNIV-CD | 0.002141 | | | OH WTR DEV AUTH | 0.002138 | ✓ | | LOS ANGELES UNIF SD-A | 0.002017 | | | State of New Jersey, Series A | 0.001950 | ✓ | | NEW YORK-G-G-1 | 0.001902 | | | State of New Jersey, Series 2020A | 0.001871 | | | Los Angeles Department of Water & Power, Series 2025A | 0.001852 | ✓ | | OHIO WTR DEV AUTH-A | 0.001835 | | | Bay Area Toll Authority, Series 2026A | 0.001826 | | | State of New Jersey, Series 2020A | 0.001824 | | | State of New Jersey, Series 2020A | 0.001800 | ✓ | | LOS ANGELES DEPT-C | 0.001769 | ✓ | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.001768 | ✓ | | UNIV OF TEXAS UNIV-A | 0.001724 | | | NJ TPK AUTH-B | 0.001711 | | | MASSACHUSETTS ST | 0.001667 | | | State of California, Series 2025, GO Bonds | 0.001661 | | | State of New Jersey, Series 2020A | 0.001636 | ✓ | | Virginia Public Building Authority, Series 2021A-1 | 0.001600 | | | UNIV OF PITTSBURGH PA OF THE C REGD B/E 5.00000000 | 0.001599 | | | State of California, Series 2023 | 0.001598 | | | WI ST GF APP 5% 5/1/2026Q | 0.001569 | | | NEW YORK CITY-C-REF | 0.001561 | ✓ | | KY ST PROP 5% 11/1/2027 | 0.001536 | ✓ | | State of California, Series 2007 | 0.001534 | | | WASHINGTON ST WAS 07/26 FIXED 4 | 0.001512 | ✓ | | State of North Carolina, Series 2019 | 0.001481 | | | SOUTH CAROLINA ST ASSN OF GOVTL ORGANIZATIONS COPS | 0.001474 | | | CT HLTH & EDUCTNL-B-2 | 0.001467 | | | DE VLY FIN -A | 0.001437 | | | NJ TRANSPRTN TRUST-A | 0.001436 | | | GREAT LAKES WTR AUTH- | 0.001436 | | | E CO AWP JT PWRS-A-2 | 0.001428 | | | State of California | 0.001425 | ✓ | | State of Maryland | 0.001421 | | | NEW YORK MUNI WTR-AA2 | 0.001413 | | | STATE OF CALIFORNIA 5.0% 04-01-29 | 0.001402 | | | Washington Metropolitan Area Transit Authority, Series 2021A | 0.001343 | | | State of California, Series 2017 | 0.001342 | ✓ | | GUILFORD CO | 0.001340 | | ## iShares Short-Term National Muni Bond ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | BLKR-LI MUNI-INS | 0.009937 | | | STATE OF NEW JERSEY 5.0% 03-01-28 | 0.003830 | ✓ | | WA KINUTL 01/01/2042 | 0.003589 | | | STATE OF CALIFORNIA 5.0% 08-01-29 | 0.002887 | ✓ | | NEW YORK ST URBAN DEV CORP REVENUE | 0.002647 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.002619 | ✓ | | NJ TPK AUTH-B | 0.002605 | ✓ | | Pennsylvania Turnpike Commission, Series 2023B | 0.002564 | | | State of California | 0.002516 | ✓ | | STATE OF CALIFORNIA 5.0% 11-01-27 | 0.002507 | | | Empire State Development Corp., Series 2021A | 0.002311 | | | DT OF COLUMBIA-C-2 | 0.002294 | | | Connecticut State Health & Educational Facilities Authority, Series 2017C-4 | 0.002294 | | | CONNECTICUT ST SPL TAX OBLIG REVENUE | 0.002236 | | | NY TRANS FIN AUTH-D-1 | 0.002215 | | | NEW YORK B-1-REF | 0.002212 | ✓ | | State of New Jersey, Series A | 0.002176 | ✓ | | MA ST-REF-A | 0.002160 | ✓ | | HOUSTON TX UTILITY SYS REVENUE CITY OF HOUSTON TX COMBINED UTILITY SYSTEM REVENUE | 0.002120 | | | CT HLTH & EDUCTNL-B-1 | 0.002115 | ✓ | | KING CNTY WA SWR REVENUE COUNTY OF KING WA SEWER REVENUE | 0.002113 | | | PENNSYLVANIA ST-1ST | 0.002107 | ✓ | | NYC TRANSITIONAL-A-1 | 0.002103 | | | Ohio Water Development Authority, Series 2018 | 0.002091 | ✓ | | State of New Jersey, Series 2020A | 0.002042 | ✓ | | Kentucky State Property & Building Commission, Series B | 0.002042 | | | State of Georgia, Series 2022A | 0.002019 | | | MINNESOTA ST PUBLIC FACS AUTH REVOLVING FUND REVENUE | 0.001950 | | | City of Seattle, Series 2023B | 0.001918 | | | WA ST-SER R-2023A-REF | 0.001894 | ✓ | | COLORADO ST EDUC LOAN PROGRAM | 0.001851 | | | NEW JERSEY ST EDUCTNL FACS AUTH REVENUE | 0.001847 | ✓ | | E CO AWP JT PWRS-A-1 | 0.001838 | ✓ | | State of Minnesota, Series 2022A | 0.001835 | | | State of New Jersey, Series 2020A | 0.001822 | ✓ | | Pennsylvania Turnpike Commission, Series 2016B | 0.001819 | | | Houston (City of), TX, Series 2016 A, Ref. GO Bonds | 0.001812 | | | SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE | 0.001808 | | | State of Washington, Series 2022C | 0.001792 | | | UNIV OF CALIFORNIA CA REVENUES | 0.001790 | ✓ | | State of Maryland, Series 2020C-1 | 0.001766 | ✓ | | New York State Dormitory Authority, State Personal Income Tax, Series 2021E | 0.001762 | | | Virginia (Commonwealth of) College Building Authority (21st Century College and Equipment Programs), Series 2017, Ref. RB | 0.001734 | ✓ | | State of Minnesota, Series 2023E | 0.001709 | ✓ | | University of California, Series 2025, RB | 0.001687 | ✓ | | State of Illinois, Series D | 0.001680 | ✓ | | FT BEND TX ISD 4% 8/1/2054 | 0.001677 | ✓ | | Long Island Power Authority, Series 2025C | 0.001675 | | | State of Georgia, Series 2023A | 0.001641 | ✓ | | District of Columbia, Series 2020 B, Ref. RB | 0.001629 | ✓ | ## Sources - N-PORT (fund A) — accession `0000105563-26-000162` (as of 2026-02-28) - N-PORT (fund B) — accession `0002071691-26-008202` (as of 2026-02-28) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _