VCRM vs. VWITX
Compare and contrast key facts about Vanguard Core Tax-Exempt Bond ETF (VCRM) and Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX).
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. VWITX is managed by Vanguard. It was launched on Sep 1, 1977.
Performance
VCRM vs. VWITX - Performance Comparison
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VCRM vs. VWITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VCRM Vanguard Core Tax-Exempt Bond ETF | 0.34% | 4.91% | -0.58% |
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | -0.48% | 5.89% | 0.44% |
Returns By Period
In the year-to-date period, VCRM achieves a 0.34% return, which is significantly higher than VWITX's -0.48% return.
VCRM
- 1D
- 0.30%
- 1M
- -1.55%
- YTD
- 0.34%
- 6M
- 1.86%
- 1Y
- 4.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VWITX
- 1D
- 0.22%
- 1M
- -2.36%
- YTD
- -0.48%
- 6M
- 1.07%
- 1Y
- 4.47%
- 3Y*
- 3.64%
- 5Y*
- 1.49%
- 10Y*
- 2.29%
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VCRM vs. VWITX - Expense Ratio Comparison
VCRM has a 0.12% expense ratio, which is lower than VWITX's 0.17% 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. VWITX — Risk / Return Rank
VCRM
VWITX
VCRM vs. VWITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core Tax-Exempt Bond ETF (VCRM) and Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX). 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 | VWITX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.20 | 1.25 | -0.05 |
Sortino ratioReturn per unit of downside risk | 1.53 | 1.66 | -0.14 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.35 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.43 | +0.20 |
Martin ratioReturn relative to average drawdown | 4.63 | 5.48 | -0.84 |
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 | VWITX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 1.25 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.46 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.76 | +0.10 |
Correlation
The correlation between VCRM and VWITX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VCRM vs. VWITX - Dividend Comparison
VCRM's dividend yield for the trailing twelve months is around 3.59%, more than VWITX's 3.25% 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% |
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 3.25% | 3.96% | 3.53% | 2.70% | 2.43% | 1.83% | 2.32% | 2.80% | 2.80% | 2.72% | 2.80% | 2.88% |
Drawdowns
VCRM vs. VWITX - Drawdown Comparison
The maximum VCRM drawdown since its inception was -4.12%, smaller than the maximum VWITX drawdown of -29.13%. Use the drawdown chart below to compare losses from any high point for VCRM and VWITX.
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Drawdown Indicators
| VCRM | VWITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -29.13% | +25.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -3.89% | +0.67% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.46% | — |
Current DrawdownCurrent decline from peak | -1.83% | -2.64% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -1.15% | -3.58% | +2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 1.02% | +0.11% |
Volatility
VCRM vs. VWITX - Volatility Comparison
Vanguard Core Tax-Exempt Bond ETF (VCRM) has a higher volatility of 1.49% compared to Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) at 1.01%. This indicates that VCRM's price experiences larger fluctuations and is considered to be riskier than VWITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCRM | VWITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 1.01% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 1.57% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 3.92% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 3.22% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 3.41% | +0.59% |