See what your fund actually adds

Vanguard Wellington Fund Vanguard Short-Term Tax Exempt Bond ETF VTES

Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.

Fund and replication metrics

VTES compared with its replication portfolio
MeasureVTESReplication
Annualized growth2.4%3.3%
Annualized volatility2.2%2.5%
Sharpe ratio1.091.34
Maximum drawdown2.6%2.2%
Replication fit (R²)0.75 · Tracking error 1.1%

Replication portfolio

The published portfolio below is the investable basket used to model VTES’s historical return behavior.

VTES replication basket weights
TickerBuilding blockWeight
VGSHFI · Short Gov42.9%
MUBFI · Municipal37.9%
STIPFI · Short TIPS16.6%
WTMFAlternatives · Mgt Futures2.6%