VCRM vs. MEAR
Compare and contrast key facts about Vanguard Core Tax-Exempt Bond ETF (VCRM) and iShares Short Maturity Municipal Bond ETF (MEAR).
VCRM and MEAR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VCRM is a passively managed fund by Vanguard that tracks the performance of the S&P Broad AMT-Free Municipal Bond Index. It was launched on Nov 21, 2024. MEAR is an actively managed fund by iShares. It was launched on Mar 3, 2015.
Performance
VCRM vs. MEAR - Performance Comparison
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VCRM vs. MEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VCRM Vanguard Core Tax-Exempt Bond ETF | 0.34% | 4.91% | -0.58% |
MEAR iShares Short Maturity Municipal Bond ETF | 0.58% | 3.76% | 0.07% |
Returns By Period
In the year-to-date period, VCRM achieves a 0.34% return, which is significantly lower than MEAR's 0.58% return.
VCRM
- 1D
- 0.30%
- 1M
- -1.55%
- YTD
- 0.34%
- 6M
- 1.86%
- 1Y
- 4.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MEAR
- 1D
- 0.11%
- 1M
- -0.23%
- YTD
- 0.58%
- 6M
- 1.27%
- 1Y
- 3.25%
- 3Y*
- 3.54%
- 5Y*
- 2.32%
- 10Y*
- 1.75%
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VCRM vs. MEAR - Expense Ratio Comparison
VCRM has a 0.12% expense ratio, which is lower than MEAR's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VCRM vs. MEAR — Risk / Return Rank
VCRM
MEAR
VCRM vs. MEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core Tax-Exempt Bond ETF (VCRM) and iShares Short Maturity Municipal Bond ETF (MEAR). 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.
| VCRM | MEAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.20 | 2.81 | -1.61 |
Sortino ratioReturn per unit of downside risk | 1.53 | 3.78 | -2.26 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.73 | -0.47 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 3.77 | -2.14 |
Martin ratioReturn relative to average drawdown | 4.63 | 21.16 | -16.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VCRM | MEAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 2.81 | -1.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 2.38 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 1.09 | -0.23 |
Correlation
The correlation between VCRM and MEAR is 0.29, 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.
Dividends
VCRM vs. MEAR - Dividend Comparison
VCRM's dividend yield for the trailing twelve months is around 3.59%, more than MEAR's 2.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCRM Vanguard Core Tax-Exempt Bond ETF | 3.59% | 3.42% | 0.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.87% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Drawdowns
VCRM vs. MEAR - Drawdown Comparison
The maximum VCRM drawdown since its inception was -4.12%, which is greater than MEAR's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for VCRM and MEAR.
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Drawdown Indicators
| VCRM | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -2.68% | -1.44% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -0.86% | -2.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -2.68% | — |
Current DrawdownCurrent decline from peak | -1.83% | -0.24% | -1.59% |
Average DrawdownAverage peak-to-trough decline | -1.15% | -0.19% | -0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 0.15% | +0.98% |
Volatility
VCRM vs. MEAR - Volatility Comparison
Vanguard Core Tax-Exempt Bond ETF (VCRM) has a higher volatility of 1.49% compared to iShares Short Maturity Municipal Bond ETF (MEAR) at 0.37%. This indicates that VCRM's price experiences larger fluctuations and is considered to be riskier than MEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCRM | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 0.37% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 0.60% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 1.16% | +2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 0.98% | +3.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 1.52% | +2.48% |