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MPLX vs. VTES
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MPLX vs. VTES

Last updated Jun 5, 2026

MPLX (MPLX LP) is a stock, while VTES (Vanguard Short-Term Tax-Exempt Bond ETF Shares) is Municipal Bonds fund tracking the S&P 0-7 Yr National AMT-Free Municipal Bond Index - Benchmark TR Gross. Over the past 3 years, MPLX returned 28.89%/yr vs 3.21%/yr for VTES. At a 0.01 correlation, their price movements are largely independent.

Performance

MPLX vs. VTES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MPLX LP (MPLX) and Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MPLX achieves a 9.69% return, which is significantly higher than VTES's 0.71% return.

MPLX

1D
1.92%
1M
3.16%
YTD
9.69%
6M
4.77%
1Y
19.39%
3Y*
28.89%
5Y*
24.70%
10Y*
15.21%

VTES

1D
0.05%
1M
0.37%
YTD
0.71%
6M
1.05%
1Y
3.63%
3Y*
3.21%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MPLX vs. VTES - Yearly Performance Comparison

2026 (YTD)202520242023
MPLX
MPLX LP		9.69%20.54%41.72%13.35%
VTES
Vanguard Short-Term Tax-Exempt Bond ETF Shares		0.71%4.19%1.85%3.32%

Correlation

The correlation between MPLX and VTES is -0.12, 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

-0.12

Correlation (3Y)
Calculated over the trailing 3-year period

0.03

Correlation (All Time)
Calculated using the full available price history since Mar 10, 2023

0.01

The correlation between MPLX and VTES shifts across timeframes, from -0.12 (1 year) to 0.03 (3 years), reflecting how their relationship changes across market environments.

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MPLX LP

Vanguard Short-Term Tax-Exempt Bond ETF Shares

Often compared with MPLX:
MPLX vs. EPDMPLX vs. WESMPLX vs. HESMMPLX vs. PAAMPLX vs. MPCMPLX vs. ENFRMPLX vs. XLE
Often compared with VTES:
VTES vs. VTEBVTES vs. SUBVTES vs. VSDMVTES vs. VGSHVTES vs. JMSTVTES vs. MUBVTES vs. VUSB

Return for Risk

MPLX vs. VTES — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MPLX
MPLX Risk / Return Rank: 7575
Overall Rank
MPLX Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
MPLX Sortino Ratio Rank: 7171
Sortino Ratio Rank
MPLX Omega Ratio Rank: 6969
Omega Ratio Rank
MPLX Calmar Ratio Rank: 7979
Calmar Ratio Rank
MPLX Martin Ratio Rank: 7878
Martin Ratio Rank
VTES
VTES Risk / Return Rank: 7474
Overall Rank
VTES Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
VTES Sortino Ratio Rank: 9191
Sortino Ratio Rank
VTES Omega Ratio Rank: 9494
Omega Ratio Rank
VTES Calmar Ratio Rank: 5151
Calmar Ratio Rank
VTES Martin Ratio Rank: 4545
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MPLX vs. VTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MPLX LP (MPLX) and Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES). 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.

MPLXVTESDifference
Sharpe ratioReturn per unit of total volatility
1.25
2.94

-1.69

Sortino ratioReturn per unit of downside risk
1.78
4.25

-2.47

Omega ratioGain probability vs. loss probability

1.21

1.69

-0.48

Calmar ratioReturn relative to maximum drawdown

2.53

2.48

+0.05

Martin ratioReturn relative to average drawdown

5.94

7.33

-1.39

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MPLX vs. VTES - Sharpe Ratio Comparison

The current MPLX Sharpe Ratio is 1.25, which is lower than the VTES Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of MPLX and VTES, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

MPLXVTESDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.25

2.94

-1.69

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.28

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.39

1.82

-1.43

Drawdowns

MPLX vs. VTES - Drawdown Comparison

The maximum MPLX drawdown since its inception was -85.72%, which is greater than VTES's maximum drawdown of -2.42%. Use the drawdown chart below to compare losses from any high point for MPLX and VTES.

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Drawdown Indicators

MPLXVTESDifference

Max Drawdown

Largest peak-to-trough decline

-85.72%

-2.42%

-83.30%

Max Drawdown (1Y)

Largest decline over 1 year

-7.71%

-1.47%

-6.24%

Max Drawdown (3Y)

Largest decline over 3 years

-14.58%

-1.80%

-12.78%

Max Drawdown (5Y)

Largest decline over 5 years

-18.46%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-75.21%

—

—

Current Drawdown

Current decline from peak

-2.96%

-0.57%

-2.39%

Average Drawdown

Average peak-to-trough decline

-30.00%

-0.50%

-29.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.27%

0.50%

+2.77%

Volatility

MPLX vs. VTES - Volatility Comparison

MPLX LP (MPLX) has a higher volatility of 5.12% compared to Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) at 0.35%. This indicates that MPLX's price experiences larger fluctuations and is considered to be riskier than VTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MPLXVTESDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.12%

0.35%

+4.77%

Volatility (6M)

Calculated over the trailing 6-month period

11.66%

0.97%

+10.69%

Volatility (1Y)

Calculated over the trailing 1-year period

15.68%

1.24%

+14.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.42%

1.72%

+17.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

30.66%

1.72%

+28.94%

Dividends

MPLX vs. VTES - Dividend Comparison

MPLX's dividend yield for the trailing twelve months is around 7.43%, more than VTES's 2.75% yield.

PositionTTM20252024202320222021202020192018201720162015
MPLX
MPLX LP		7.43%7.39%7.33%8.65%8.80%11.30%12.70%10.41%8.22%6.23%5.86%4.33%
VTES
Vanguard Short-Term Tax-Exempt Bond ETF Shares		2.75%2.77%2.99%2.03%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

MPLX and VTES have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MPLX has higher volatility (5.12%) compared to VTES (0.35%). In terms of maximum drawdown, MPLX dropped -85.72% vs VTES's -2.42%.

VTES currently has the higher Sharpe Ratio (2.94 vs 1.25), 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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