SHYTX vs. VWAHX
SHYTX (DWS Strategic High Yield Tax) and VWAHX (Vanguard High-Yield Tax-Exempt Fund Investor Shares) are both High Yield Muni funds. Over the past 10 years, SHYTX returned 2.19%/yr vs 2.99%/yr for VWAHX. A 0.76 correlation means they provide meaningful diversification when combined. SHYTX charges 0.59%/yr vs 0.17%/yr for VWAHX.
Performance
SHYTX vs. VWAHX - Performance Comparison
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Returns By Period
In the year-to-date period, SHYTX achieves a 2.18% return, which is significantly lower than VWAHX's 2.49% return. Over the past 10 years, SHYTX has underperformed VWAHX with an annualized return of 2.19%, while VWAHX has yielded a comparatively higher 2.99% annualized return.
SHYTX
- 1D
- 0.09%
- 1M
- 1.83%
- YTD
- 2.18%
- 6M
- 2.89%
- 1Y
- 7.70%
- 3Y*
- 5.20%
- 5Y*
- 0.19%
- 10Y*
- 2.19%
VWAHX
- 1D
- 0.09%
- 1M
- 2.06%
- YTD
- 2.49%
- 6M
- 2.93%
- 1Y
- 8.45%
- 3Y*
- 5.43%
- 5Y*
- 1.53%
- 10Y*
- 2.99%
SHYTX vs. VWAHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHYTX DWS Strategic High Yield Tax | 2.18% | 4.05% | 5.47% | 7.64% | -17.22% | 5.44% | 5.04% | 9.64% | -0.46% | 5.99% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 2.49% | 4.96% | 3.98% | 8.39% | -11.76% | 3.36% | 5.39% | 9.48% | 1.31% | 7.86% |
Correlation
The correlation between SHYTX and VWAHX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1990 | 0.76 |
The correlation between SHYTX and VWAHX shifts across timeframes, from 0.76 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SHYTX vs. VWAHX — Risk / Return Rank
SHYTX
VWAHX
SHYTX vs. VWAHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DWS Strategic High Yield Tax (SHYTX) 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.
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.
| SHYTX | VWAHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.68 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 2.78 | -0.27 |
| Martin ratioReturn relative to average drawdown | 7.84 | 10.11 | -2.27 |
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Drawdowns
SHYTX vs. VWAHX - Drawdown Comparison
The maximum SHYTX drawdown since its inception was -27.17%, smaller than the maximum VWAHX drawdown of -40.26%. Use the drawdown chart below to compare losses from any high point for SHYTX and VWAHX.
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Drawdown Indicators
| SHYTX | VWAHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.17% | -40.26% | +13.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -3.05% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -7.70% | -7.12% | -0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -22.59% | -17.32% | -5.27% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | -17.32% | -5.27% |
Current DrawdownCurrent decline from peak | -0.41% | 0.00% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -6.92% | +4.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.84% | +0.15% |
Volatility
SHYTX vs. VWAHX - Volatility Comparison
The current volatility for DWS Strategic High Yield Tax (SHYTX) is 0.83%, while Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a volatility of 0.88%. This indicates that SHYTX 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.
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Volatility by Period
| SHYTX | VWAHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.88% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 2.38% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 3.22% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 4.80% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.02% | 4.63% | +0.39% |
SHYTX vs. VWAHX - Expense Ratio Comparison
SHYTX has a 0.59% expense ratio, which is higher than VWAHX's 0.17% expense ratio.
Dividends
SHYTX vs. VWAHX - Dividend Comparison
SHYTX's dividend yield for the trailing twelve months is around 4.27%, more than VWAHX's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYTX DWS Strategic High Yield Tax | 4.27% | 5.59% | 4.01% | 3.14% | 2.90% | 2.88% | 4.44% | 4.87% | 4.35% | 3.49% | 4.29% | 4.79% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 4.04% | 4.95% | 4.38% | 3.53% | 3.36% | 2.98% | 3.31% | 3.94% | 3.78% | 3.68% | 3.75% | 3.67% |
Frequently Asked Questions
SHYTX and VWAHX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWAHX has higher volatility (0.88%) compared to SHYTX (0.83%). In terms of maximum drawdown, SHYTX dropped -27.17% vs VWAHX's -40.26%.
VWAHX currently has the higher Sharpe Ratio (2.63 vs 2.31), 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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