Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX)

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The chart shows the growth of an initial investment of $10,000 in Vanguard Tax-Exempt Bond Index Fund Admiral Shares, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) has returned -0.49% so far this year and 3.84% over the past 12 months. Over the last ten years, VTEAX has returned 2.06% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Aug 31, 2015, VTEAX's average daily return is +0.01%, while the average monthly return is +0.20%. At this rate, your investment would double in approximately 28.9 years.

Historically, 62% of months were positive and 38% were negative. The best month was Nov 2023 with a return of +6.1%, while the worst month was Nov 2016 at -3.6%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, VTEAX closed higher 47% of trading days. The best single day was Mar 25, 2020 with a return of +3.5%, while the worst single day was Mar 19, 2020 at -2.8%.

Vanguard Tax-Exempt Bond Index Fund Admiral Shares has an annualized alpha of 2.11%, beta of 0.02, and R² of 0.01 versus S&P 500 Index. Calculated based on daily prices since September 01, 2015.

• This fund participated in 16.27% of S&P 500 Index downside but only 13.89% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.02 may look defensive, but with R² of 0.01 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 0.01 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.

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

VTEAX ranks 44 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

The table below present risk-adjusted performance metrics for Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) and compare them to a chosen benchmark (S&P 500 Index).

Vanguard Tax-Exempt Bond Index Fund Admiral Shares provided a 3.06% dividend yield over the last twelve months, with an annual payout of $0.61 per share.

The table displays the monthly dividend distributions for Vanguard Tax-Exempt Bond Index 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 Tax-Exempt Bond Index 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 Tax-Exempt Bond Index Fund Admiral Shares was 12.75%, occurring on Oct 25, 2022. Recovery took 527 trading sessions.

The current Vanguard Tax-Exempt Bond Index Fund Admiral Shares drawdown is 2.46%.

The chart below shows the rolling one-month volatility.