MMHYX vs. VWALX
Compare and contrast key facts about MFS Municipal High Income Fund (MMHYX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX).
MMHYX is managed by MFS. It was launched on Feb 23, 1984. VWALX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
MMHYX vs. VWALX - Performance Comparison
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MMHYX vs. VWALX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMHYX MFS Municipal High Income Fund | -0.10% | 5.02% | 6.72% | 5.30% | -14.64% | 5.31% | 3.39% | 9.94% | 2.09% | 7.66% |
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | -0.26% | 5.06% | 4.08% | 8.45% | -11.69% | 3.42% | 5.49% | 9.58% | 1.38% | 7.96% |
Returns By Period
In the year-to-date period, MMHYX achieves a -0.10% return, which is significantly higher than VWALX's -0.26% return. Over the past 10 years, MMHYX has underperformed VWALX with an annualized return of 2.78%, while VWALX has yielded a comparatively higher 3.08% annualized return.
MMHYX
- 1D
- 0.41%
- 1M
- -1.99%
- YTD
- -0.10%
- 6M
- 1.57%
- 1Y
- 3.37%
- 3Y*
- 4.84%
- 5Y*
- 0.89%
- 10Y*
- 2.78%
VWALX
- 1D
- 0.38%
- 1M
- -2.23%
- YTD
- -0.26%
- 6M
- 1.36%
- 1Y
- 4.06%
- 3Y*
- 4.63%
- 5Y*
- 1.55%
- 10Y*
- 3.08%
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MMHYX vs. VWALX - Expense Ratio Comparison
MMHYX has a 0.61% expense ratio, which is higher than VWALX's 0.09% expense ratio.
Return for Risk
MMHYX vs. VWALX — Risk / Return Rank
MMHYX
VWALX
MMHYX vs. VWALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Municipal High Income Fund (MMHYX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX). 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.
| MMHYX | VWALX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.65 | 0.79 | -0.15 |
Sortino ratioReturn per unit of downside risk | 0.89 | 1.08 | -0.19 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.83 | 0.97 | -0.14 |
Martin ratioReturn relative to average drawdown | 2.42 | 3.01 | -0.59 |
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
| MMHYX | VWALX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.65 | 0.79 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.33 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.67 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 1.07 | +0.04 |
Correlation
The correlation between MMHYX and VWALX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MMHYX vs. VWALX - Dividend Comparison
MMHYX's dividend yield for the trailing twelve months is around 4.37%, more than VWALX's 4.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMHYX MFS Municipal High Income Fund | 4.37% | 5.77% | 3.91% | 3.59% | 3.03% | 2.95% | 3.57% | 3.99% | 4.18% | 4.38% | 4.31% | 4.64% |
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 4.14% | 5.04% | 4.47% | 3.59% | 3.44% | 3.04% | 3.40% | 4.03% | 3.85% | 3.77% | 3.86% | 3.75% |
Drawdowns
MMHYX vs. VWALX - Drawdown Comparison
The maximum MMHYX drawdown since its inception was -23.28%, which is greater than VWALX's maximum drawdown of -17.24%. Use the drawdown chart below to compare losses from any high point for MMHYX and VWALX.
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Drawdown Indicators
| MMHYX | VWALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.28% | -17.24% | -6.04% |
Max Drawdown (1Y)Largest decline over 1 year | -5.86% | -5.63% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -19.89% | -17.24% | -2.65% |
Max Drawdown (10Y)Largest decline over 10 years | -19.89% | -17.24% | -2.65% |
Current DrawdownCurrent decline from peak | -2.38% | -2.50% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -2.89% | -2.18% | -0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 1.81% | +0.19% |
Volatility
MMHYX vs. VWALX - Volatility Comparison
MFS Municipal High Income Fund (MMHYX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) have volatilities of 1.27% and 1.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMHYX | VWALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 1.29% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.05% | 2.00% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 5.71% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.90% | 4.76% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.82% | 4.62% | +0.20% |