Vanguard Tax-Exempt Bond ETF drawdown: 13.2% below the all-time high
Vanguard Tax-Exempt Bond ETF is 13.2% below its all-time high, set Jul 22, 2021 (as of market close, Sep 18, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown.
- Below all-time high
- −13.2%
- 86.8% of ATH
- All-time high
- $55.59
- Jul 22, 2021
- Time below the high
- 5.2 yrs
- since Jul 22, 2021
- Worst-ever drawdown
- −17.0%
- Mar 19, 2020
- Longest underwater
- 5.2 yrs
- between all-time highs
- Today's level first reached
- Aug 25, 2015
- 11.1 yrs ago
- Last time this deep
- Mar 20, 2020
- in a previous episode
% of all-time high since 2015#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater. Basis and range are in the URL, so a particular view is a link.
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Mar 9, 2020 | Mar 19, 2020 | −17.0% | 10 days | Dec 31, 2020 | 10 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2015: how far Vanguard Tax-Exempt Bond ETF stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: a single asset's history is one surviving sample, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is Vanguard Tax-Exempt Bond ETF from its all-time high?
- Vanguard Tax-Exempt Bond ETF is currently 13.2% below its all-time high, set Jul 22, 2021 (as of market close, Sep 18, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest Vanguard Tax-Exempt Bond ETF drawdown ever?
- The deepest decline on record in our data (since 2015) took Vanguard Tax-Exempt Bond ETF 17.0% below its prior high, bottoming Mar 19, 2020. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since -1 from VTEB; no free deep history exists for Vanguard Tax-Exempt Bond ETF — for a 150-year drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year. Past performance does not predict future returns; not investment advice.