VMATX vs. VMLUX
Compare and contrast key facts about Vanguard Massachusetts Tax-Exempt Fund (VMATX) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX).
VMATX is managed by Vanguard. It was launched on Dec 9, 1998. VMLUX is managed by Vanguard. It was launched on Feb 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMATX or VMLUX.
Key characteristics
| VMATX | VMLUX | |
|---|---|---|
| YTD Return | 1.86% | 2.51% |
| 1Y Return | 8.88% | 5.29% |
| 3Y Return (Ann) | -0.78% | 1.29% |
| 5Y Return (Ann) | 0.99% | 1.62% |
| 10Y Return (Ann) | 2.27% | 1.69% |
| Sharpe Ratio | 2.20 | 3.13 |
| Sortino Ratio | 3.29 | 5.35 |
| Omega Ratio | 1.51 | 1.90 |
| Calmar Ratio | 0.81 | 3.06 |
| Martin Ratio | 8.92 | 16.40 |
| Ulcer Index | 1.00% | 0.32% |
| Daily Std Dev | 4.04% | 1.69% |
| Max Drawdown | -16.24% | -6.41% |
| Current Drawdown | -3.04% | -0.58% |
Correlation
The correlation between VMATX and VMLUX is 0.74, 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.
Performance
VMATX vs. VMLUX - Performance Comparison
In the year-to-date period, VMATX achieves a 1.86% return, which is significantly lower than VMLUX's 2.51% return. Over the past 10 years, VMATX has outperformed VMLUX with an annualized return of 2.27%, while VMLUX has yielded a comparatively lower 1.69% 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. VMLUX - Expense Ratio Comparison
VMATX has a 0.13% expense ratio, which is higher than VMLUX's 0.09% expense ratio. However, 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. VMLUX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Massachusetts Tax-Exempt Fund (VMATX) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX). 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. VMLUX - Dividend Comparison
VMATX's dividend yield for the trailing twelve months is around 3.35%, more than VMLUX's 2.81% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMATX Vanguard Massachusetts Tax-Exempt Fund | 3.35% | 3.07% | 2.69% | 2.26% | 2.47% | 2.81% | 3.07% | 2.92% | 3.06% | 3.06% | 3.16% | 3.35% |
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | 2.81% | 2.39% | 1.64% | 1.29% | 1.70% | 1.96% | 1.90% | 1.66% | 1.64% | 1.59% | 1.68% | 1.75% |
Drawdowns
VMATX vs. VMLUX - Drawdown Comparison
The maximum VMATX drawdown since its inception was -16.24%, which is greater than VMLUX's maximum drawdown of -6.41%. Use the drawdown chart below to compare losses from any high point for VMATX and VMLUX. For additional features, visit the drawdowns tool.
Volatility
VMATX vs. VMLUX - Volatility Comparison
Vanguard Massachusetts Tax-Exempt Fund (VMATX) has a higher volatility of 1.99% compared to Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) at 0.75%. This indicates that VMATX's price experiences larger fluctuations and is considered to be riskier than VMLUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.