VTEB

VTEB is a tax‑exempt bond ETF that invests primarily in investment‑grade U.S. municipal securities issued by state, local and agency borrowers, with interest that is exempt from federal income tax and the alternative minimum tax. The fund follows a passive, index‑sampling approach to closely track the S&P National AMT‑Free Municipal Bond Index, providing broadly diversified, intermediate‑duration exposure to the U.S. municipal bond market. Because its income is generally free from federal taxes and it emphasizes high credit quality, the ETF is well suited for investors in higher tax brackets seeking tax‑efficient fixed‑income income, modest volatility, and a diversification component within a broader portfolio.