VMATX vs. TRLVX
Compare and contrast key facts about Vanguard Massachusetts Tax-Exempt Fund (VMATX) and SEI Institutional Managed Trust Core Fixed Income Fund (TRLVX).
VMATX is managed by Vanguard. It was launched on Dec 9, 1998. TRLVX is managed by BlackRock. It was launched on May 4, 1987.
Performance
VMATX vs. TRLVX - Performance Comparison
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VMATX vs. TRLVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMATX Vanguard Massachusetts Tax-Exempt Fund | -0.20% | 4.96% | 2.53% | 7.19% | -10.79% | 1.65% | 6.47% | 8.93% | 0.47% | 6.02% |
TRLVX SEI Institutional Managed Trust Core Fixed Income Fund | -0.45% | 7.06% | 0.83% | 5.92% | -15.66% | -1.63% | 9.04% | 9.25% | -0.47% | 4.15% |
Returns By Period
In the year-to-date period, VMATX achieves a -0.20% return, which is significantly higher than TRLVX's -0.45% return. Over the past 10 years, VMATX has outperformed TRLVX with an annualized return of 2.39%, while TRLVX has yielded a comparatively lower 1.61% annualized return.
VMATX
- 1D
- 0.30%
- 1M
- -1.47%
- YTD
- -0.20%
- 6M
- 1.52%
- 1Y
- 4.78%
- 3Y*
- 3.78%
- 5Y*
- 1.04%
- 10Y*
- 2.39%
TRLVX
- 1D
- 0.00%
- 1M
- -1.74%
- YTD
- -0.45%
- 6M
- 0.08%
- 1Y
- 3.49%
- 3Y*
- 3.25%
- 5Y*
- -0.48%
- 10Y*
- 1.61%
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VMATX vs. TRLVX - Expense Ratio Comparison
VMATX has a 0.13% expense ratio, which is lower than TRLVX's 0.66% expense ratio.
Return for Risk
VMATX vs. TRLVX — Risk / Return Rank
VMATX
TRLVX
VMATX vs. TRLVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Massachusetts Tax-Exempt Fund (VMATX) and SEI Institutional Managed Trust Core Fixed Income Fund (TRLVX). 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 | TRLVX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 0.75 | +0.09 |
Sortino ratioReturn per unit of downside risk | 1.15 | 1.09 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.13 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 1.18 | -0.23 |
Martin ratioReturn relative to average drawdown | 3.11 | 3.40 | -0.29 |
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 | TRLVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 0.75 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | -0.08 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.31 | +0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 1.02 | -0.03 |
Correlation
The correlation between VMATX and TRLVX is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
VMATX vs. TRLVX - Dividend Comparison
VMATX's dividend yield for the trailing twelve months is around 3.63%, more than TRLVX's 3.24% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMATX Vanguard Massachusetts Tax-Exempt Fund | 3.63% | 4.46% | 3.98% | 3.06% | 2.69% | 2.26% | 3.22% | 3.63% | 3.07% | 2.91% | 3.55% | 3.22% |
TRLVX SEI Institutional Managed Trust Core Fixed Income Fund | 3.24% | 3.52% | 4.01% | 3.38% | 1.80% | 1.90% | 5.98% | 3.73% | 2.77% | 2.36% | 4.46% | 3.64% |
Drawdowns
VMATX vs. TRLVX - Drawdown Comparison
The maximum VMATX drawdown since its inception was -15.91%, smaller than the maximum TRLVX drawdown of -20.98%. Use the drawdown chart below to compare losses from any high point for VMATX and TRLVX.
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Drawdown Indicators
| VMATX | TRLVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.91% | -20.98% | +5.07% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -3.05% | -2.31% |
Max Drawdown (5Y)Largest decline over 5 years | -15.91% | -20.68% | +4.77% |
Max Drawdown (10Y)Largest decline over 10 years | -15.91% | -20.98% | +5.07% |
Current DrawdownCurrent decline from peak | -2.42% | -5.56% | +3.14% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -2.47% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 1.06% | +0.58% |
Volatility
VMATX vs. TRLVX - Volatility Comparison
The current volatility for Vanguard Massachusetts Tax-Exempt Fund (VMATX) is 1.31%, while SEI Institutional Managed Trust Core Fixed Income Fund (TRLVX) has a volatility of 1.59%. This indicates that VMATX experiences smaller price fluctuations and is considered to be less risky than TRLVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMATX | TRLVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 1.59% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 2.02% | 2.69% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.59% | 4.51% | +1.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.62% | 6.35% | -1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.63% | 5.22% | -0.59% |