MLN vs. VCLAX
Compare and contrast key facts about VanEck Long Muni ETF (MLN) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX).
MLN is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Long Continuous. It was launched on Jan 2, 2008. VCLAX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
MLN vs. VCLAX - Performance Comparison
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MLN vs. VCLAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLN VanEck Long Muni ETF | 0.10% | 1.82% | 1.54% | 8.05% | -17.20% | 2.20% | 6.22% | 10.72% | -0.77% | 8.19% |
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | -0.99% | 4.97% | 2.77% | 7.60% | -9.99% | 1.50% | 5.68% | 8.91% | 0.76% | 6.93% |
Returns By Period
In the year-to-date period, MLN achieves a 0.10% return, which is significantly higher than VCLAX's -0.99% return. Over the past 10 years, MLN has underperformed VCLAX with an annualized return of 1.55%, while VCLAX has yielded a comparatively higher 2.49% annualized return.
MLN
- 1D
- 0.35%
- 1M
- -1.74%
- YTD
- 0.10%
- 6M
- 1.65%
- 1Y
- 4.19%
- 3Y*
- 2.56%
- 5Y*
- -0.92%
- 10Y*
- 1.55%
VCLAX
- 1D
- 0.27%
- 1M
- -3.17%
- YTD
- -0.99%
- 6M
- 0.88%
- 1Y
- 4.08%
- 3Y*
- 3.71%
- 5Y*
- 1.18%
- 10Y*
- 2.49%
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MLN vs. VCLAX - Expense Ratio Comparison
MLN has a 0.24% expense ratio, which is higher than VCLAX's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
MLN vs. VCLAX — Risk / Return Rank
MLN
VCLAX
MLN vs. VCLAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Long Muni ETF (MLN) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX). 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.
| MLN | VCLAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.62 | 0.90 | -0.29 |
Sortino ratioReturn per unit of downside risk | 0.82 | 1.22 | -0.40 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.24 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.78 | 0.98 | -0.20 |
Martin ratioReturn relative to average drawdown | 2.06 | 3.00 | -0.94 |
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
| MLN | VCLAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 0.90 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | 0.26 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.55 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.92 | -0.61 |
Correlation
The correlation between MLN and VCLAX is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MLN vs. VCLAX - Dividend Comparison
MLN's dividend yield for the trailing twelve months is around 3.78%, more than VCLAX's 3.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLN VanEck Long Muni ETF | 3.78% | 3.73% | 3.59% | 3.19% | 2.67% | 2.52% | 2.69% | 2.98% | 3.09% | 2.91% | 3.16% | 3.38% |
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 3.63% | 4.41% | 3.95% | 3.07% | 2.74% | 2.60% | 3.28% | 3.24% | 3.41% | 3.32% | 3.56% | 3.58% |
Drawdowns
MLN vs. VCLAX - Drawdown Comparison
The maximum MLN drawdown since its inception was -28.36%, which is greater than VCLAX's maximum drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for MLN and VCLAX.
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Drawdown Indicators
| MLN | VCLAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.36% | -15.72% | -12.64% |
Max Drawdown (1Y)Largest decline over 1 year | -5.88% | -5.34% | -0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -24.46% | -15.72% | -8.74% |
Max Drawdown (10Y)Largest decline over 10 years | -24.46% | -15.72% | -8.74% |
Current DrawdownCurrent decline from peak | -8.25% | -3.17% | -5.08% |
Average DrawdownAverage peak-to-trough decline | -5.71% | -2.19% | -3.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 1.75% | +0.49% |
Volatility
MLN vs. VCLAX - Volatility Comparison
VanEck Long Muni ETF (MLN) has a higher volatility of 1.95% compared to Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) at 1.26%. This indicates that MLN's price experiences larger fluctuations and is considered to be riskier than VCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLN | VCLAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.95% | 1.26% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 1.96% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.83% | 5.44% | +1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.28% | 4.52% | +2.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.88% | 4.54% | +4.34% |