ENFR vs. VTEB
ENFR (Alerian Energy Infrastructure ETF) and VTEB (Vanguard Tax-Exempt Bond ETF) are both exchange-traded funds - ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index, while VTEB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 10 years, ENFR returned 11.90%/yr vs 2.12%/yr for VTEB. At a correlation of -0.01, they often move in opposite directions. ENFR charges 0.35%/yr vs 0.03%/yr for VTEB.
Performance
ENFR vs. VTEB - Performance Comparison
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Returns By Period
In the year-to-date period, ENFR achieves a 26.03% return, which is significantly higher than VTEB's 1.60% return. Over the past 10 years, ENFR has outperformed VTEB with an annualized return of 11.90%, while VTEB has yielded a comparatively lower 2.12% annualized return.
ENFR
- 1D
- 1.15%
- 1M
- 0.77%
- YTD
- 26.03%
- 6M
- 24.35%
- 1Y
- 28.57%
- 3Y*
- 28.54%
- 5Y*
- 20.19%
- 10Y*
- 11.90%
VTEB
- 1D
- 0.14%
- 1M
- 0.75%
- YTD
- 1.60%
- 6M
- 2.05%
- 1Y
- 7.03%
- 3Y*
- 3.54%
- 5Y*
- 0.91%
- 10Y*
- 2.12%
ENFR vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 26.03% | 5.88% | 42.17% | 15.63% | 17.48% | 39.97% | -24.14% | 21.60% | -18.67% | -0.19% |
VTEB Vanguard Tax-Exempt Bond ETF | 1.60% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 1.04% | 4.87% |
Correlation
The correlation between ENFR and VTEB is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2015 | -0.01 |
The correlation between ENFR and VTEB shifts across timeframes, from -0.21 (1 year) to 0.05 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ENFR vs. VTEB — Risk / Return Rank
ENFR
VTEB
ENFR vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alerian Energy Infrastructure ETF (ENFR) and Vanguard Tax-Exempt Bond ETF (VTEB). 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.
| ENFR | VTEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.57 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | 2.60 | +0.71 |
| Martin ratioReturn relative to average drawdown | 9.04 | 9.25 | -0.22 |
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
| ENFR | VTEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.97 | 2.61 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.05 | 0.23 | +0.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.40 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.48 | -0.13 |
Drawdowns
ENFR vs. VTEB - Drawdown Comparison
The maximum ENFR drawdown since its inception was -68.28%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for ENFR and VTEB.
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Drawdown Indicators
| ENFR | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.28% | -17.00% | -51.28% |
Max Drawdown (1Y)Largest decline over 1 year | -8.64% | -2.71% | -5.93% |
Max Drawdown (3Y)Largest decline over 3 years | -15.58% | -5.53% | -10.05% |
Max Drawdown (5Y)Largest decline over 5 years | -20.29% | -12.64% | -7.65% |
Max Drawdown (10Y)Largest decline over 10 years | -62.64% | -17.00% | -45.64% |
Current DrawdownCurrent decline from peak | -3.86% | -0.38% | -3.48% |
Average DrawdownAverage peak-to-trough decline | -15.98% | -2.33% | -13.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 0.76% | +2.41% |
Volatility
ENFR vs. VTEB - Volatility Comparison
Alerian Energy Infrastructure ETF (ENFR) has a higher volatility of 6.25% compared to Vanguard Tax-Exempt Bond ETF (VTEB) at 0.90%. This indicates that ENFR's price experiences larger fluctuations and is considered to be riskier than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENFR | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 0.90% | +5.35% |
Volatility (6M)Calculated over the trailing 6-month period | 11.42% | 2.01% | +9.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.65% | 2.72% | +11.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.30% | 3.90% | +15.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.68% | 5.26% | +19.42% |
ENFR vs. VTEB - Expense Ratio Comparison
ENFR has a 0.35% expense ratio, which is higher than VTEB's 0.03% expense ratio.
Dividends
ENFR vs. VTEB - Dividend Comparison
ENFR's dividend yield for the trailing twelve months is around 3.98%, more than VTEB's 3.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 3.98% | 4.77% | 4.41% | 5.48% | 5.23% | 7.86% | 7.57% | 5.81% | 3.98% | 2.98% | 3.31% | 3.34% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.35% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Frequently Asked Questions
ENFR and VTEB have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENFR has higher volatility (6.25%) compared to VTEB (0.90%). In terms of maximum drawdown, ENFR dropped -68.28% vs VTEB's -17.00%.
On 10-year performance, ENFR leads with 11.90% vs 2.12% for VTEB. On fees, VTEB is cheaper at 0.03% per year. On volatility, VTEB has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ENFR has performed better with a 11.90% return vs 2.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTEB is cheaper with a 0.03% expense ratio, compared with 0.35% for ENFR.
ENFR has the higher dividend yield at 3.98%, compared with 3.35% for VTEB.
ENFR is categorized as Energy Equities, while VTEB is Municipal Bonds. ENFR tracks Alerian Midstream Energy Select Index, while VTEB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: SS&C and Vanguard. Their fees differ too: 0.35% for ENFR and 0.03% for VTEB.
VTEB currently has the higher Sharpe Ratio (2.61 vs 1.97), 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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