VMATX vs. VTEB
Compare and contrast key facts about Vanguard Massachusetts Tax-Exempt Fund (VMATX) and Vanguard Tax-Exempt Bond ETF (VTEB).
VMATX is managed by Vanguard. It was launched on Dec 9, 1998. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMATX or VTEB.
Performance
VMATX vs. VTEB - Performance Comparison
Returns By Period
In the year-to-date period, VMATX achieves a 2.17% return, which is significantly higher than VTEB's 1.64% return.
VMATX
2.17%
0.39%
3.36%
6.99%
0.99%
2.30%
VTEB
1.64%
0.46%
3.15%
5.47%
1.20%
N/A
Key characteristics
| VMATX | VTEB | |
|---|---|---|
| Sharpe Ratio | 1.82 | 1.46 |
| Sortino Ratio | 2.69 | 2.14 |
| Omega Ratio | 1.41 | 1.29 |
| Calmar Ratio | 0.79 | 0.88 |
| Martin Ratio | 7.01 | 6.18 |
| Ulcer Index | 1.03% | 0.92% |
| Daily Std Dev | 3.95% | 3.88% |
| Max Drawdown | -16.24% | -17.00% |
| Current Drawdown | -2.75% | -1.17% |
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VMATX vs. VTEB - Expense Ratio Comparison
VMATX has a 0.13% expense ratio, which is higher than VTEB's 0.05% 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%.
Correlation
The correlation between VMATX and VTEB is 0.68, 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.
Risk-Adjusted Performance
VMATX vs. VTEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Massachusetts Tax-Exempt Fund (VMATX) and Vanguard Tax-Exempt Bond ETF (VTEB). 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. VTEB - Dividend Comparison
VMATX's dividend yield for the trailing twelve months is around 3.34%, more than VTEB's 3.09% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMATX Vanguard Massachusetts Tax-Exempt Fund | 3.34% | 3.07% | 2.69% | 2.26% | 2.47% | 2.81% | 3.07% | 2.92% | 3.06% | 3.06% | 3.16% | 3.35% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.09% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
VMATX vs. VTEB - Drawdown Comparison
The maximum VMATX drawdown since its inception was -16.24%, roughly equal to the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for VMATX and VTEB. For additional features, visit the drawdowns tool.
Volatility
VMATX vs. VTEB - Volatility Comparison
The current volatility for Vanguard Massachusetts Tax-Exempt Fund (VMATX) is 1.70%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.83%. This indicates that VMATX experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.