# Portfolio overlap — VTES vs VTEC Comparing **VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF** (2026-02-28) and **VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF** (2026-02-28). - Shared positions: 433 - VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF covered by VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF: 0.09317403884787154431157629529 - VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF covered by VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF: 0.09317403884787154431157629529 ## 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 | | ## VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Southern California Public Power Authority, Series A | 0.005932 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.005505 | | | Bay Area Toll Authority, Series 2026A | 0.005146 | ✓ | | Irvine Ranch Water District, Series 2009 A, VRD RB | 0.003231 | | | LOS ANGELES UNIF SD-A | 0.003227 | | | LOS ANGELES UNIF SD-A | 0.003220 | | | Bay Area Toll Authority, Series 2023 A, VRD Ref. RB | 0.003088 | | | LOS ANGELES UNIF SD-A | 0.002989 | ✓ | | Los Angeles Department of Water & Power, Series 2025A | 0.002720 | ✓ | | STATE OF CALIFORNIA 4.0% 03-01-36 | 0.002497 | | | UNIV OF CALIFORNIA CA REVENUES REGD B/E 5.00000000 | 0.002483 | | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.002421 | | | UNIV OF CALIFORNIA CA REVENUES REGD B/E 5.50000000 | 0.002383 | | | E CO AWP JT PWRS-A-1 | 0.002360 | ✓ | | STATE OF CALIFORNIA | 0.002358 | | | SAN FRANCISCO USD | 0.002302 | | | UNIV OF CALIFORNIA CA | 0.002238 | ✓ | | IRVINE CA IMPT BOND ACT 1915 | 0.002207 | | | State of California | 0.002121 | ✓ | | CALIFORNIA ST EDUCTNL | 0.001954 | | | BAY AREA TOLL AUTHORITY FRN 04-01-55 | 0.001950 | | | LOS ANGELES DEPT-C | 0.001930 | ✓ | | UNIV OF CALIFORNIA CA REVENUES | 0.001924 | | | LOS ANGELES UNIF SD-A | 0.001918 | ✓ | | State of California | 0.001913 | ✓ | | BAY AREA CA TOLL AUTH | 0.001888 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.001879 | ✓ | | IRVINE WTR-RF-A1-VAR | 0.001748 | | | BAY AREA TOLL AUTHORI VAR | 0.001706 | ✓ | | University of California, Series 2024 BW, Ref. RB | 0.001701 | | | Toll Road Sr Lien Refunding RB Series 2021A | 0.001691 | | | UNIV OF CALIFORNIA CA REVENUES | 0.001673 | ✓ | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2017 B, RB | 0.001672 | | | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C | 0.001662 | ✓ | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.001629 | | | State of California 5.00% 03/01/2055 | 0.001623 | | | Los Angeles (County of), CA Metropolitan Transportation Authority, Series 2024, GO Bonds | 0.001620 | | | STATE OF CALIFORNIA 5.0% 10-01-35 | 0.001618 | | | LOS ANGELES UNIF SD-A | 0.001609 | ✓ | | State of California | 0.001587 | ✓ | | STATE OF CALIFORNIA 5.0% 04-01-29 | 0.001586 | ✓ | | State of California, Series 2007 | 0.001569 | ✓ | | LOS ANGELES DEPT-B | 0.001530 | | | Los Angeles Unified School District, Series 2023QRR | 0.001520 | | | Santa Monica Community College District, Series 2018A | 0.001504 | | | State of California, Series 2025, GO Bonds | 0.001497 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.25000000 | 0.001486 | | | STATE OF CALIFORNIA | 0.001464 | | | UNIV OF CALIFORNIA CA REVENUES | 0.001462 | ✓ | | Sacramento Municipal Utility District, Series 2025F | 0.001427 | ✓ | ## Sources - N-PORT (fund A) — accession `0000105563-26-000162` (as of 2026-02-28) - N-PORT (fund B) — accession `0000783401-26-000072` (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 _