VMATX vs. NEAR
Compare and contrast key facts about Vanguard Massachusetts Tax-Exempt Fund (VMATX) and iShares Short Duration Bond Active 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.
Performance
VMATX vs. NEAR - Performance Comparison
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VMATX vs. NEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMATX Vanguard Massachusetts Tax-Exempt Fund | -0.50% | 4.96% | 2.53% | 7.19% | -10.79% | 1.65% | 6.47% | 8.93% | 0.47% | 6.02% |
NEAR iShares Short Duration Bond Active ETF | 0.17% | 5.90% | 5.09% | 7.42% | 0.41% | 0.32% | 1.39% | 3.55% | 1.71% | 1.41% |
Returns By Period
In the year-to-date period, VMATX achieves a -0.50% return, which is significantly lower than NEAR's 0.17% return. Over the past 10 years, VMATX has underperformed NEAR with an annualized return of 2.36%, while NEAR has yielded a comparatively higher 2.83% annualized return.
VMATX
- 1D
- 0.40%
- 1M
- -2.43%
- YTD
- -0.50%
- 6M
- 1.21%
- 1Y
- 4.36%
- 3Y*
- 3.67%
- 5Y*
- 0.98%
- 10Y*
- 2.36%
NEAR
- 1D
- 0.01%
- 1M
- -0.48%
- YTD
- 0.17%
- 6M
- 1.24%
- 1Y
- 4.48%
- 3Y*
- 5.76%
- 5Y*
- 3.78%
- 10Y*
- 2.83%
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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%.
Return for Risk
VMATX vs. NEAR — Risk / Return Rank
VMATX
NEAR
VMATX vs. NEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Massachusetts Tax-Exempt Fund (VMATX) and iShares Short Duration Bond Active 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.
| VMATX | NEAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.86 | 2.39 | -1.53 |
Sortino ratioReturn per unit of downside risk | 1.17 | 3.56 | -2.39 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.55 | -0.32 |
Calmar ratioReturn relative to maximum drawdown | 1.07 | 3.92 | -2.85 |
Martin ratioReturn relative to average drawdown | 3.52 | 15.10 | -11.58 |
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
| VMATX | NEAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.39 | -1.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 2.89 | -2.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 1.14 | -0.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 1.08 | -0.09 |
Correlation
The correlation between VMATX and NEAR is 0.24, 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
VMATX vs. NEAR - Dividend Comparison
VMATX's dividend yield for the trailing twelve months is around 3.64%, less than NEAR's 4.50% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMATX Vanguard Massachusetts Tax-Exempt Fund | 3.64% | 4.46% | 3.98% | 3.06% | 2.69% | 2.26% | 3.22% | 3.63% | 3.07% | 2.91% | 3.55% | 3.22% |
NEAR iShares Short Duration Bond Active ETF | 4.50% | 4.54% | 5.00% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% |
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 -9.61%. Use the drawdown chart below to compare losses from any high point for VMATX and NEAR.
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Drawdown Indicators
| VMATX | NEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.91% | -9.61% | -6.30% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -1.16% | -4.20% |
Max Drawdown (5Y)Largest decline over 5 years | -15.91% | -1.32% | -14.59% |
Max Drawdown (10Y)Largest decline over 10 years | -15.91% | -9.61% | -6.30% |
Current DrawdownCurrent decline from peak | -2.72% | -0.64% | -2.08% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -0.16% | -1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 0.30% | +1.33% |
Volatility
VMATX vs. NEAR - Volatility Comparison
Vanguard Massachusetts Tax-Exempt Fund (VMATX) has a higher volatility of 1.39% compared to iShares Short Duration Bond Active ETF (NEAR) at 0.62%. 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.
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Volatility by Period
| VMATX | NEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 0.62% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 2.03% | 0.93% | +1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.66% | 1.88% | +3.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.62% | 1.32% | +3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.63% | 2.49% | +2.14% |