SPOT vs. VTES
SPOT (Spotify Technology S.A.) is a stock, while VTES (Vanguard Short-Term Tax-Exempt Bond ETF) is Municipal Bonds fund tracking the S&P 0-7 Year National AMT-Free Municipal Bond Index. Over the past 3 years, SPOT returned 42.48%/yr vs 3.09%/yr for VTES. At a correlation of -0.01, they often move in opposite directions.
Performance
SPOT vs. VTES - Performance Comparison
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Returns By Period
In the year-to-date period, SPOT achieves a -21.56% return, which is significantly lower than VTES's 0.76% return.
SPOT
- 1D
- -0.84%
- 1M
- -12.38%
- YTD
- -21.56%
- 6M
- -21.38%
- 1Y
- -37.70%
- 3Y*
- 42.48%
- 5Y*
- 11.51%
- 10Y*
- —
VTES
- 1D
- 0.01%
- 1M
- 0.58%
- YTD
- 0.76%
- 6M
- 0.87%
- 1Y
- 3.26%
- 3Y*
- 3.09%
- 5Y*
- —
- 10Y*
- —
SPOT vs. VTES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPOT Spotify Technology S.A. | -21.56% | 29.80% | 138.08% | 47.97% |
VTES Vanguard Short-Term Tax-Exempt Bond ETF | 0.76% | 4.19% | 1.85% | 3.32% |
Correlation
The correlation between SPOT and VTES is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2023 | -0.01 |
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Return for Risk
SPOT vs. VTES — Risk / Return Rank
SPOT
VTES
SPOT vs. VTES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) and Vanguard Short-Term Tax-Exempt Bond ETF (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.
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.
| SPOT | VTES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.47 | ||
| Sortino ratioReturn per unit of downside risk | -4.92 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.61 | -0.75 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 2.23 | -3.03 |
| Martin ratioReturn relative to average drawdown | -1.36 | 6.38 | -7.74 |
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Drawdowns
SPOT vs. VTES - Drawdown Comparison
The maximum SPOT drawdown since its inception was -80.51%, which is greater than VTES's maximum drawdown of -2.42%. Use the drawdown chart below to compare losses from any high point for SPOT and VTES.
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Drawdown Indicators
| SPOT | VTES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.51% | -2.42% | -78.09% |
Max Drawdown (1Y)Largest decline over 1 year | -46.80% | -1.47% | -45.33% |
Max Drawdown (3Y)Largest decline over 3 years | -46.80% | -1.80% | -45.00% |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | — | — |
Current DrawdownCurrent decline from peak | -41.29% | -0.52% | -40.77% |
Average DrawdownAverage peak-to-trough decline | -30.89% | -0.50% | -30.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.85% | 0.51% | +27.34% |
Volatility
SPOT vs. VTES - Volatility Comparison
Spotify Technology S.A. (SPOT) has a higher volatility of 11.25% compared to Vanguard Short-Term Tax-Exempt Bond ETF (VTES) at 0.27%. This indicates that SPOT'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
| SPOT | VTES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.25% | 0.27% | +10.98% |
Volatility (6M)Calculated over the trailing 6-month period | 37.35% | 0.98% | +36.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.48% | 1.24% | +44.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.59% | 1.71% | +45.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.33% | 1.71% | +45.62% |
Dividends
SPOT vs. VTES - Dividend Comparison
SPOT has not paid dividends to shareholders, while VTES's dividend yield for the trailing twelve months is around 2.75%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SPOT Spotify Technology S.A. | 0.00% | 0.00% | 0.00% | 0.00% |
VTES Vanguard Short-Term Tax-Exempt Bond ETF | 2.75% | 2.77% | 2.99% | 2.03% |
Frequently Asked Questions
SPOT and VTES have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (11.25%) compared to VTES (0.27%). In terms of maximum drawdown, SPOT dropped -80.51% vs VTES's -2.42%.
VTES currently has the higher Sharpe Ratio (2.64 vs -0.83), 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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