MIY vs. VMLUX
Compare and contrast key facts about BlackRock MuniYield Michigan Quality Fund (MIY) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX).
MIY is an actively managed fund by BlackRock. It was launched on Oct 30, 1992. VMLUX is managed by Vanguard. It was launched on Feb 12, 2001.
Performance
MIY vs. VMLUX - Performance Comparison
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MIY vs. VMLUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIY BlackRock MuniYield Michigan Quality Fund | 2.55% | 11.24% | 3.48% | 6.60% | -24.10% | 10.04% | 7.27% | 19.51% | -6.71% | 8.86% |
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | -0.12% | 5.50% | 3.25% | 4.29% | -2.90% | 0.23% | 3.38% | 4.21% | 1.64% | 2.13% |
Returns By Period
In the year-to-date period, MIY achieves a 2.55% return, which is significantly higher than VMLUX's -0.12% return. Over the past 10 years, MIY has outperformed VMLUX with an annualized return of 2.91%, while VMLUX has yielded a comparatively lower 2.06% annualized return.
MIY
- 1D
- 1.54%
- 1M
- -5.15%
- YTD
- 2.55%
- 6M
- 8.25%
- 1Y
- 10.47%
- 3Y*
- 7.28%
- 5Y*
- 0.01%
- 10Y*
- 2.91%
VMLUX
- 1D
- 0.00%
- 1M
- -1.53%
- YTD
- -0.12%
- 6M
- 0.59%
- 1Y
- 3.86%
- 3Y*
- 3.78%
- 5Y*
- 2.05%
- 10Y*
- 2.06%
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MIY vs. VMLUX - Expense Ratio Comparison
MIY has a 2.25% expense ratio, which is higher than VMLUX's 0.09% expense ratio.
Return for Risk
MIY vs. VMLUX — Risk / Return Rank
MIY
VMLUX
MIY vs. VMLUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock MuniYield Michigan Quality Fund (MIY) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX). 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.
| MIY | VMLUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 1.97 | -1.04 |
Sortino ratioReturn per unit of downside risk | 1.38 | 2.95 | -1.57 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.66 | -0.48 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.32 | -0.93 |
Martin ratioReturn relative to average drawdown | 3.77 | 10.14 | -6.36 |
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
| MIY | VMLUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 1.97 | -1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 1.11 | -1.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 1.07 | -0.83 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 1.46 | -1.10 |
Correlation
The correlation between MIY and VMLUX is 0.27, 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
MIY vs. VMLUX - Dividend Comparison
MIY's dividend yield for the trailing twelve months is around 5.51%, more than VMLUX's 3.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIY BlackRock MuniYield Michigan Quality Fund | 5.51% | 5.57% | 5.21% | 3.86% | 5.70% | 4.38% | 4.23% | 4.27% | 5.27% | 5.46% | 5.85% | 5.66% |
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | 3.14% | 3.85% | 3.38% | 2.39% | 1.64% | 1.04% | 1.70% | 2.10% | 1.89% | 1.65% | 1.62% | 1.58% |
Drawdowns
MIY vs. VMLUX - Drawdown Comparison
The maximum MIY drawdown since its inception was -42.19%, which is greater than VMLUX's maximum drawdown of -6.41%. Use the drawdown chart below to compare losses from any high point for MIY and VMLUX.
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Drawdown Indicators
| MIY | VMLUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.19% | -6.41% | -35.78% |
Max Drawdown (1Y)Largest decline over 1 year | -8.12% | -2.02% | -6.10% |
Max Drawdown (5Y)Largest decline over 5 years | -34.59% | -5.60% | -28.99% |
Max Drawdown (10Y)Largest decline over 10 years | -34.59% | -6.41% | -28.18% |
Current DrawdownCurrent decline from peak | -6.70% | -1.53% | -5.17% |
Average DrawdownAverage peak-to-trough decline | -8.33% | -0.54% | -7.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 0.46% | +2.52% |
Volatility
MIY vs. VMLUX - Volatility Comparison
BlackRock MuniYield Michigan Quality Fund (MIY) has a higher volatility of 4.61% compared to Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) at 0.50%. This indicates that MIY's price experiences larger fluctuations and is considered to be riskier than VMLUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIY | VMLUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 0.50% | +4.11% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 1.03% | +7.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.34% | 2.34% | +9.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.43% | 1.85% | +9.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.83% | 1.92% | +9.91% |