VMATX vs. NEAR
Compare and contrast key facts about Vanguard Massachusetts Tax-Exempt Fund (VMATX) and iShares Short Maturity Bond ETF (NEAR).
VMATX is managed by Vanguard. It was launched on Dec 9, 1998. NEAR is an actively managed fund by iShares. It was launched on Sep 25, 2013.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMATX or NEAR.
Key characteristics
| VMATX | NEAR | |
|---|---|---|
| YTD Return | 2.99% | 4.70% |
| 1Y Return | 9.25% | 8.24% |
| 3Y Return (Ann) | -0.31% | 4.09% |
| 5Y Return (Ann) | 1.58% | 2.97% |
| 10Y Return (Ann) | 2.77% | 2.29% |
| Sharpe Ratio | 2.03 | 4.95 |
| Daily Std Dev | 4.51% | 1.67% |
| Max Drawdown | -15.91% | -9.60% |
| Current Drawdown | -1.59% | -0.10% |
Correlation
The correlation between VMATX and NEAR is 0.19, 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
VMATX vs. NEAR - Performance Comparison
In the year-to-date period, VMATX achieves a 2.99% return, which is significantly lower than NEAR's 4.70% return. Over the past 10 years, VMATX has outperformed NEAR with an annualized return of 2.77%, while NEAR has yielded a comparatively lower 2.29% 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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VMATX vs. NEAR - Expense Ratio Comparison
VMATX has a 0.13% expense ratio, which is lower than NEAR'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%.
Risk-Adjusted Performance
VMATX vs. NEAR - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Massachusetts Tax-Exempt Fund (VMATX) and iShares Short Maturity Bond ETF (NEAR). 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
VMATX vs. NEAR - Dividend Comparison
VMATX's dividend yield for the trailing twelve months is around 3.26%, less than NEAR's 5.11% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMATX Vanguard Massachusetts Tax-Exempt Fund | 3.26% | 3.06% | 2.69% | 2.65% | 3.22% | 3.40% | 3.06% | 2.91% | 3.56% | 3.21% | 3.78% | 3.35% |
NEAR iShares Short Maturity Bond ETF | 5.11% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% | 0.85% | 0.15% |
Drawdowns
VMATX vs. NEAR - Drawdown Comparison
The maximum VMATX drawdown since its inception was -15.91%, which is greater than NEAR's maximum drawdown of -9.60%. Use the drawdown chart below to compare losses from any high point for VMATX and NEAR. For additional features, visit the drawdowns tool.
Volatility
VMATX vs. NEAR - Volatility Comparison
Vanguard Massachusetts Tax-Exempt Fund (VMATX) has a higher volatility of 0.52% compared to iShares Short Maturity Bond ETF (NEAR) at 0.48%. This indicates that VMATX's price experiences larger fluctuations and is considered to be riskier than NEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.