NEARX vs. VTMFX

Last updated Jun 24, 2026

NEARX (U.S. Global Investors Near-Term Tax Free Fund) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both mutual funds - NEARX is a Municipal Bonds fund managed by US Global, while VTMFX is a Diversified Portfolio fund tracking the Composite benchmark: Russell 1000 Index and Bloomberg 1-15 Year Municipal Bond Index. Over the past 10 years, NEARX returned 1.06%/yr vs 8.70%/yr for VTMFX. At a 0.04 correlation, their price movements are largely independent. NEARX charges 0.45%/yr vs 0.05%/yr for VTMFX.

Performance

NEARX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Investors Near-Term Tax Free Fund (NEARX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEARX achieves a 1.04% return, which is significantly lower than VTMFX's 5.23% return. Over the past 10 years, NEARX has underperformed VTMFX with an annualized return of 1.06%, while VTMFX has yielded a comparatively higher 8.70% annualized return.

NEARX

• 1D: 0.00%
• 1M: 1.18%
• YTD: 1.04%
• 6M: 1.27%
• 1Y: 3.01%
• 3Y*: 2.98%
• 5Y*: 0.85%
• 10Y*: 1.06%

VTMFX

• 1D: -0.19%
• 1M: 0.76%
• YTD: 5.23%
• 6M: 4.83%
• 1Y: 14.99%
• 3Y*: 12.08%
• 5Y*: 7.01%
• 10Y*: 8.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NEARX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEARX U.S. Global Investors Near-Term Tax Free Fund	1.04%	3.47%	2.19%	3.04%	-5.25%	-0.46%	2.94%	2.40%	1.58%	1.48%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	5.23%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between NEARX and VTMFX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Sep 6, 1994	0.04

The correlation between NEARX and VTMFX shifts across timeframes, from 0.04 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NEARX vs. VTMFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NEARX

NEARX Risk / Return Rank: 37
NEARX Sharpe Ratio Rank: 20
NEARX Sortino Ratio Rank: 24
NEARX Omega Ratio Rank: 82
NEARX Calmar Ratio Rank: 34
NEARX Martin Ratio Rank: 24

VTMFX

VTMFX Risk / Return Rank: 76
VTMFX Sharpe Ratio Rank: 80
VTMFX Sortino Ratio Rank: 78
VTMFX Omega Ratio Rank: 78
VTMFX Calmar Ratio Rank: 63
VTMFX Martin Ratio Rank: 78

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.

NEARX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Near-Term Tax Free Fund (NEARX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NEARX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	2.43	-1.24
Sortino ratio: Return per unit of downside risk	1.87	3.42	-1.55
Omega ratio: Gain probability vs. loss probability	1.50	1.46	+0.03
Calmar ratio: Return relative to maximum drawdown	2.08	2.91	-0.83
Martin ratio: Return relative to average drawdown	5.39	13.60	-8.22

NEARX vs. VTMFX - Sharpe Ratio Comparison

The current NEARX Sharpe Ratio is 1.19, which is lower than the VTMFX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of NEARX and VTMFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NEARX vs. VTMFX - Drawdown Comparison

The maximum NEARX drawdown since its inception was -80.12%, which is greater than VTMFX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for NEARX and VTMFX.

Drawdown Indicators

	NEARX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-80.12%	-28.49%	-51.63%
Max Drawdown (1Y) Largest decline over 1 year	-1.45%	-5.38%	+3.93%
Max Drawdown (3Y) Largest decline over 3 years	-1.45%	-10.61%	+9.16%
Max Drawdown (5Y) Largest decline over 5 years	-6.91%	-17.40%	+10.49%
Max Drawdown (10Y) Largest decline over 10 years	-6.91%	-21.87%	+14.96%
Current Drawdown Current decline from peak	-0.29%	-0.75%	+0.46%
Average Drawdown Average peak-to-trough decline	-20.80%	-3.54%	-17.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	1.15%	-0.59%

Volatility

NEARX vs. VTMFX - Volatility Comparison

The current volatility for U.S. Global Investors Near-Term Tax Free Fund (NEARX) is 0.68%, while Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) has a volatility of 2.45%. This indicates that NEARX experiences smaller price fluctuations and is considered to be less risky than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEARX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	2.45%	-1.77%
Volatility (6M) Calculated over the trailing 6-month period	1.79%	5.18%	-3.39%
Volatility (1Y) Calculated over the trailing 1-year period	2.55%	6.46%	-3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.50%	8.57%	-6.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.55%	9.15%	-6.60%

NEARX vs. VTMFX - Expense Ratio Comparison

NEARX has a 0.45% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

NEARX vs. VTMFX - Dividend Comparison

NEARX's dividend yield for the trailing twelve months is around 2.49%, more than VTMFX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEARX U.S. Global Investors Near-Term Tax Free Fund	2.49%	2.45%	2.65%	2.50%	1.10%	0.88%	1.10%	1.46%	2.01%	1.47%	1.36%	1.83%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.12%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both NEARX and VTMFX in my portfolio?

NEARX and VTMFX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NEARX or VTMFX?

VTMFX has higher volatility (2.45%) compared to NEARX (0.68%). In terms of maximum drawdown, NEARX dropped -80.12% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

VTMFX currently has the higher Sharpe Ratio (2.43 vs 1.19), 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.