SHM vs. VWAHX
Compare and contrast key facts about SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
SHM is a passively managed fund by State Street that tracks the performance of the Bloomberg Municipal Managed Money Short. It was launched on Oct 10, 2007. VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SHM or VWAHX.
Key characteristics
| SHM | VWAHX | |
|---|---|---|
| YTD Return | 1.55% | 3.35% |
| 1Y Return | 4.23% | 11.05% |
| 3Y Return (Ann) | 0.19% | -0.42% |
| 5Y Return (Ann) | 0.83% | 1.64% |
| 10Y Return (Ann) | 1.02% | 3.12% |
| Sharpe Ratio | 1.81 | 2.66 |
| Sortino Ratio | 2.76 | 4.05 |
| Omega Ratio | 1.36 | 1.64 |
| Calmar Ratio | 1.02 | 0.95 |
| Martin Ratio | 6.31 | 13.26 |
| Ulcer Index | 0.64% | 0.84% |
| Daily Std Dev | 2.24% | 4.20% |
| Max Drawdown | -11.61% | -17.82% |
| Current Drawdown | -0.72% | -1.95% |
Correlation
The correlation between SHM and VWAHX is 0.34, 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.
Performance
SHM vs. VWAHX - Performance Comparison
In the year-to-date period, SHM achieves a 1.55% return, which is significantly lower than VWAHX's 3.35% return. Over the past 10 years, SHM has underperformed VWAHX with an annualized return of 1.02%, while VWAHX has yielded a comparatively higher 3.12% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SHM vs. VWAHX - Expense Ratio Comparison
SHM has a 0.20% expense ratio, which is higher than VWAHX's 0.17% 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%.
Risk-Adjusted Performance
SHM vs. VWAHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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.
Dividends
SHM vs. VWAHX - Dividend Comparison
SHM's dividend yield for the trailing twelve months is around 1.88%, less than VWAHX's 3.70% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 1.88% | 1.22% | 0.76% | 1.00% | 1.65% | 1.41% | 1.33% | 1.15% | 1.02% | 0.91% | 0.92% | 0.98% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 3.70% | 3.53% | 3.37% | 2.86% | 3.09% | 3.36% | 3.79% | 3.69% | 3.75% | 3.69% | 3.78% | 4.12% |
Drawdowns
SHM vs. VWAHX - Drawdown Comparison
The maximum SHM drawdown since its inception was -11.61%, smaller than the maximum VWAHX drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for SHM and VWAHX. For additional features, visit the drawdowns tool.
Volatility
SHM vs. VWAHX - Volatility Comparison
The current volatility for SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) is 0.87%, while Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a volatility of 2.02%. This indicates that SHM experiences smaller price fluctuations and is considered to be less risky than VWAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.