DOW vs. VTES
DOW (Dow Inc.) is a stock, while VTES (Vanguard Short-Term Tax-Exempt Bond ETF Shares) is Municipal Bonds fund tracking the S&P 0-7 Yr National AMT-Free Municipal Bond Index - Benchmark TR Gross. Over the past 3 years, DOW returned -7.02%/yr vs 3.21%/yr for VTES. At a correlation of -0.01, they often move in opposite directions.
Performance
DOW vs. VTES - Performance Comparison
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Returns By Period
In the year-to-date period, DOW achieves a 52.10% return, which is significantly higher than VTES's 0.71% return.
DOW
- 1D
- -1.72%
- 1M
- -13.86%
- YTD
- 52.10%
- 6M
- 55.49%
- 1Y
- 29.45%
- 3Y*
- -7.02%
- 5Y*
- -8.27%
- 10Y*
- —
VTES
- 1D
- 0.05%
- 1M
- 0.37%
- YTD
- 0.71%
- 6M
- 1.05%
- 1Y
- 3.63%
- 3Y*
- 3.21%
- 5Y*
- —
- 10Y*
- —
DOW vs. VTES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DOW Dow Inc. | 52.10% | -37.38% | -22.79% | 3.63% |
VTES Vanguard Short-Term Tax-Exempt Bond ETF Shares | 0.71% | 4.19% | 1.85% | 3.32% |
Correlation
The correlation between DOW and VTES is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023 | -0.01 |
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Return for Risk
DOW vs. VTES — Risk / Return Rank
DOW
VTES
DOW vs. VTES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dow Inc. (DOW) and Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| DOW | VTES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.12 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.69 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 2.48 | -1.56 |
| Martin ratioReturn relative to average drawdown | 1.75 | 7.33 | -5.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DOW | VTES | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.60 | 2.94 | -2.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | 1.82 | -1.80 |
Drawdowns
DOW vs. VTES - Drawdown Comparison
The maximum DOW drawdown since its inception was -64.37%, which is greater than VTES's maximum drawdown of -2.42%. Use the drawdown chart below to compare losses from any high point for DOW and VTES.
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Drawdown Indicators
| DOW | VTES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.37% | -2.42% | -61.95% |
Max Drawdown (1Y)Largest decline over 1 year | -32.02% | -1.47% | -30.55% |
Max Drawdown (3Y)Largest decline over 3 years | -62.16% | -1.80% | -60.36% |
Max Drawdown (5Y)Largest decline over 5 years | -64.37% | — | — |
Current DrawdownCurrent decline from peak | -37.50% | -0.57% | -36.93% |
Average DrawdownAverage peak-to-trough decline | -22.73% | -0.50% | -22.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.86% | 0.50% | +16.36% |
Volatility
DOW vs. VTES - Volatility Comparison
Dow Inc. (DOW) has a higher volatility of 10.96% compared to Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) at 0.35%. This indicates that DOW's price experiences larger fluctuations and is considered to be riskier than VTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DOW | VTES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.96% | 0.35% | +10.61% |
Volatility (6M)Calculated over the trailing 6-month period | 33.17% | 0.97% | +32.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.38% | 1.24% | +48.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.51% | 1.72% | +31.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.66% | 1.72% | +36.94% |
Dividends
DOW vs. VTES - Dividend Comparison
DOW's dividend yield for the trailing twelve months is around 4.02%, more than VTES's 2.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DOW Dow Inc. | 4.02% | 8.98% | 6.98% | 5.11% | 5.56% | 4.94% | 5.05% | 3.84% |
VTES Vanguard Short-Term Tax-Exempt Bond ETF Shares | 2.75% | 2.77% | 2.99% | 2.03% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DOW and VTES have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DOW has higher volatility (10.96%) compared to VTES (0.35%). In terms of maximum drawdown, DOW dropped -64.37% vs VTES's -2.42%.
VTES currently has the higher Sharpe Ratio (2.94 vs 0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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