Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX)

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Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) is up 1.1% since the beginning of the year. VMLUX is currently trading at $11 per share. Investors who bought $1,000 worth of VMLUX shares 5 years ago would now be looking at an investment worth $1,115.

Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) has returned 1.05% so far this year and 4.06% over the past 12 months. Over the last ten years, VMLUX has returned 2.12% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Feb 12, 2001, VMLUX's average daily return is +0.01%, while the average monthly return is +0.20%. At this rate, an investment would double in approximately 28.9 years.

Historically, 67% of months were positive and 33% were negative. The best month was Nov 2023 with a return of +2.5%, while the worst month was Mar 2020 at -1.7%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.

On a daily basis, VMLUX closed higher 23% of trading days. The best single day was Mar 25, 2020 with a return of +2.0%, while the worst single day was Mar 20, 2020 at -1.7%.

Vanguard Limited-Term Tax-Exempt Fund Admiral Shares has an annualized alpha of 2.45%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since February 12, 2001.

• This fund captured 6.46% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -4.15%) - a profile typical of hedging or uncorrelated assets.
• Beta of 0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

VMLUX has an expense ratio of 0.09%, which is considered low.

VMLUX ranks 77 for risk / return — better than 77% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

Vanguard Limited-Term Tax-Exempt Fund Admiral Shares provided a 3.16% dividend yield over the last twelve months, with an annual payout of $0.35 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Vanguard Limited-Term Tax-Exempt Fund Admiral Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Vanguard Limited-Term Tax-Exempt Fund Admiral Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Vanguard Limited-Term Tax-Exempt Fund Admiral Shares was 6.41%, occurring on Mar 20, 2020. Recovery took 70 trading sessions.

The current Vanguard Limited-Term Tax-Exempt Fund Admiral Shares drawdown is 0.38%.

The chart below shows the rolling one-month volatility.