VMATX vs. VSDM
Compare and contrast key facts about Vanguard Massachusetts Tax-Exempt Fund (VMATX) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM).
VMATX is managed by Vanguard. It was launched on Dec 9, 1998. VSDM is an actively managed fund by Vanguard. It was launched on Nov 21, 2024.
Performance
VMATX vs. VSDM - Performance Comparison
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VMATX vs. VSDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VMATX Vanguard Massachusetts Tax-Exempt Fund | -0.89% | 4.96% | 0.36% |
VSDM Vanguard Short Duration Tax-Exempt Bond ETF | 0.30% | 5.39% | -0.15% |
Returns By Period
In the year-to-date period, VMATX achieves a -0.89% return, which is significantly lower than VSDM's 0.30% return.
VMATX
- 1D
- 0.20%
- 1M
- -3.10%
- YTD
- -0.89%
- 6M
- 0.91%
- 1Y
- 4.36%
- 3Y*
- 3.54%
- 5Y*
- 0.92%
- 10Y*
- 2.32%
VSDM
- 1D
- 0.09%
- 1M
- -1.24%
- YTD
- 0.30%
- 6M
- 1.03%
- 1Y
- 4.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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VMATX vs. VSDM - Expense Ratio Comparison
VMATX has a 0.13% expense ratio, which is higher than VSDM's 0.12% 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%.
Return for Risk
VMATX vs. VSDM — Risk / Return Rank
VMATX
VSDM
VMATX vs. VSDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Massachusetts Tax-Exempt Fund (VMATX) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM). 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 | VSDM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.95 | 2.13 | -1.18 |
Sortino ratioReturn per unit of downside risk | 1.30 | 2.68 | -1.38 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.57 | -0.31 |
Calmar ratioReturn relative to maximum drawdown | 1.07 | 2.49 | -1.42 |
Martin ratioReturn relative to average drawdown | 3.54 | 8.93 | -5.39 |
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 | VSDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 2.13 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 2.04 | -1.06 |
Correlation
The correlation between VMATX and VSDM is 0.65, 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. VSDM - Dividend Comparison
VMATX's dividend yield for the trailing twelve months is around 3.65%, more than VSDM's 3.05% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMATX Vanguard Massachusetts Tax-Exempt Fund | 3.65% | 4.46% | 3.98% | 3.06% | 2.69% | 2.26% | 3.22% | 3.63% | 3.07% | 2.91% | 3.55% | 3.22% |
VSDM Vanguard Short Duration Tax-Exempt Bond ETF | 3.05% | 3.06% | 0.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VMATX vs. VSDM - Drawdown Comparison
The maximum VMATX drawdown since its inception was -15.91%, which is greater than VSDM's maximum drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for VMATX and VSDM.
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Drawdown Indicators
| VMATX | VSDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.91% | -1.81% | -14.10% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -1.81% | -3.55% |
Max Drawdown (5Y)Largest decline over 5 years | -15.91% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.91% | — | — |
Current DrawdownCurrent decline from peak | -3.10% | -1.24% | -1.86% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -0.27% | -1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 0.50% | +1.12% |
Volatility
VMATX vs. VSDM - Volatility Comparison
Vanguard Massachusetts Tax-Exempt Fund (VMATX) has a higher volatility of 1.29% compared to Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) at 0.73%. This indicates that VMATX's price experiences larger fluctuations and is considered to be riskier than VSDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMATX | VSDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 0.73% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 2.00% | 1.00% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.65% | 2.08% | +3.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.62% | 2.02% | +2.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 2.02% | +2.60% |