VTEB

Vanguard Mun Bd Fds

A family of mutual funds that pools money from everyday investors to buy municipal bonds — loans to states, cities, and other public bodies that help fund schools, hospitals, and highways, with interest typically free of federal income tax. Launched in 1977 by The Vanguard Group, the firm John Bogle founded three years earlier, they now sit alongside famous funds like the Tax-Exempt Bond Index and Long-Term Tax-Exempt. The company took its name from HMS Vanguard, Admiral Nelson's flagship at the Battle of the Nile, chosen by Bogle for its meaning of "leader in a new trend."

Vanguard Tax-Exempt Bond ETF seeks to track the S&P National AMT-Free Municipal Bond Index, investing in investment-grade U.S. municipal bonds whose interest is exempt from federal income tax and the federal alternative minimum tax.