Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with VMLTX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to VMLTX
VMLTX charges 0.17% annually. There are 25 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | VMLTX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | VMLTX vs VTMFX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | VMLTX vs FHMIX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | VMLTX vs NMTRX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | VMLTX vs FSMUX |
Best Risk-Adjusted Alternatives to VMLTX
VMLTX has a PortfoliosLab risk / return rank of 75. There are 150 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | VMLTX vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | VMLTX vs ATOIX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | VMLTX vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | VMLTX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | VMLTX vs DFSMX |
Top Performing VMLTX Alternatives (YTD)
VMLTX is at 1.01% YTD. There are 391 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 13.22%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 13.22% | — | Apr 1998 | VMLTX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 9.70% | — | Nov 2002 | VMLTX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 7.62% | — | Nov 2001 | VMLTX vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 6.57% | — | Oct 1992 | VMLTX vs MIY | |
| Nuveen Virginia Quality Municipal Income Fund | 6.33% | — | Mar 1993 | VMLTX vs NPV |
Lowest Volatility Alternatives to VMLTX
VMLTX has 1.49% 1-year volatility. There are 55 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.56%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | VMLTX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | VMLTX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | VMLTX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.60% | — | May 2016 | VMLTX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | VMLTX vs DFSMX |
Lowest Drawdown Alternatives to VMLTX
VMLTX has a 1-year max drawdown of -1.53%. There are 53 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | VMLTX vs BATVX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | VMLTX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | VMLTX vs FHMIX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | VMLTX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | VMLTX vs APUSX |
Other Mutual Funds from Vanguard
The 10 most viewed Vanguard mutual funds shown here include VTSAX, VFIAX, VTIAX and span 8 categories. AUM among these funds goes as high as $2T.
Often Compared With VMLTX
Investors most often compare VMLTX with VWSTX, VTEB, VWIUX. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare VMLTX with Any Fund or Stock
Compare VMLTX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair VMLTX with funds that move differently
Vanguard Limited-Term Tax-Exempt Fund Investor Shares alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to VMLTX.
Explore VMLTX Diversifiers