FDAAX vs. VTEB
Compare and contrast key facts about Franklin Floating Rate Daily Access Fund (FDAAX) and Vanguard Tax-Exempt Bond ETF (VTEB).
FDAAX is managed by Franklin Templeton. It was launched on Apr 30, 2001. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Performance
FDAAX vs. VTEB - Performance Comparison
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FDAAX vs. VTEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDAAX Franklin Floating Rate Daily Access Fund | -1.20% | 4.68% | 8.52% | 14.35% | -1.37% | 8.55% | -3.71% | 3.30% | 0.95% | 2.44% |
VTEB Vanguard Tax-Exempt Bond ETF | 0.09% | 3.72% | 1.31% | 6.15% | -7.99% | 1.14% | 5.19% | 7.35% | 1.04% | 4.87% |
Returns By Period
In the year-to-date period, FDAAX achieves a -1.20% return, which is significantly lower than VTEB's 0.09% return. Over the past 10 years, FDAAX has outperformed VTEB with an annualized return of 4.52%, while VTEB has yielded a comparatively lower 2.09% annualized return.
FDAAX
- 1D
- 0.14%
- 1M
- -0.14%
- YTD
- -1.20%
- 6M
- -0.44%
- 1Y
- 3.44%
- 3Y*
- 7.18%
- 5Y*
- 6.10%
- 10Y*
- 4.52%
VTEB
- 1D
- 0.32%
- 1M
- -1.61%
- YTD
- 0.09%
- 6M
- 1.54%
- 1Y
- 3.92%
- 3Y*
- 2.78%
- 5Y*
- 0.88%
- 10Y*
- 2.09%
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FDAAX vs. VTEB - Expense Ratio Comparison
FDAAX has a 0.67% expense ratio, which is higher than VTEB's 0.05% expense ratio.
Return for Risk
FDAAX vs. VTEB — Risk / Return Rank
FDAAX
VTEB
FDAAX vs. VTEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Floating Rate Daily Access Fund (FDAAX) 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.
| FDAAX | VTEB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.03 | 0.99 | +0.04 |
Sortino ratioReturn per unit of downside risk | 1.65 | 1.25 | +0.41 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.23 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.25 | +0.42 |
Martin ratioReturn relative to average drawdown | 5.60 | 3.69 | +1.91 |
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
| FDAAX | VTEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 0.99 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.85 | 0.23 | +1.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.18 | 0.40 | +0.78 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.21 | 0.45 | +0.76 |
Correlation
The correlation between FDAAX and VTEB is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FDAAX vs. VTEB - Dividend Comparison
FDAAX's dividend yield for the trailing twelve months is around 7.40%, more than VTEB's 3.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDAAX Franklin Floating Rate Daily Access Fund | 7.40% | 8.00% | 9.42% | 7.64% | 5.84% | 3.73% | 5.07% | 5.62% | 5.18% | 3.79% | 4.57% | 4.71% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.37% | 3.29% | 3.14% | 2.79% | 2.09% | 1.64% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Drawdowns
FDAAX vs. VTEB - Drawdown Comparison
The maximum FDAAX drawdown since its inception was -25.74%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for FDAAX and VTEB.
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Drawdown Indicators
| FDAAX | VTEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.74% | -17.00% | -8.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.13% | -3.45% | +1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -6.22% | -12.64% | +6.42% |
Max Drawdown (10Y)Largest decline over 10 years | -18.08% | -17.00% | -1.08% |
Current DrawdownCurrent decline from peak | -1.60% | -1.86% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -1.52% | -2.35% | +0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 1.17% | -0.49% |
Volatility
FDAAX vs. VTEB - Volatility Comparison
The current volatility for Franklin Floating Rate Daily Access Fund (FDAAX) is 0.92%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.37%. This indicates that FDAAX experiences smaller price fluctuations and is considered to be less risky 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
| FDAAX | VTEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 1.37% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.36% | 1.87% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 4.00% | -0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.31% | 3.88% | -0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.83% | 5.25% | -1.42% |