VMATX vs. VWLTX
Compare and contrast key facts about Vanguard Massachusetts Tax-Exempt Fund (VMATX) and Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX).
VMATX is managed by Vanguard. It was launched on Dec 9, 1998. VWLTX is managed by Vanguard. It was launched on Sep 1, 1977.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMATX or VWLTX.
Key characteristics
| VMATX | VWLTX | |
|---|---|---|
| YTD Return | 1.86% | 1.92% |
| 1Y Return | 8.88% | 9.24% |
| 3Y Return (Ann) | -0.78% | -0.61% |
| 5Y Return (Ann) | 1.02% | 1.24% |
| 10Y Return (Ann) | 2.28% | 2.57% |
| Sharpe Ratio | 2.20 | 2.31 |
| Sortino Ratio | 3.29 | 3.47 |
| Omega Ratio | 1.51 | 1.53 |
| Calmar Ratio | 0.81 | 0.86 |
| Martin Ratio | 8.97 | 9.64 |
| Ulcer Index | 0.99% | 0.96% |
| Daily Std Dev | 4.05% | 4.01% |
| Max Drawdown | -16.24% | -16.46% |
| Current Drawdown | -3.04% | -2.55% |
Correlation
The correlation between VMATX and VWLTX is 0.91, 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. VWLTX - Performance Comparison
The year-to-date returns for both investments are quite close, with VMATX having a 1.86% return and VWLTX slightly higher at 1.92%. Over the past 10 years, VMATX has underperformed VWLTX with an annualized return of 2.28%, while VWLTX has yielded a comparatively higher 2.57% 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. VWLTX - Expense Ratio Comparison
VMATX has a 0.13% expense ratio, which is lower than VWLTX's 0.17% 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%.
Risk-Adjusted Performance
VMATX vs. VWLTX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Massachusetts Tax-Exempt Fund (VMATX) and Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX). 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. VWLTX - Dividend Comparison
VMATX's dividend yield for the trailing twelve months is around 3.35%, which matches VWLTX's 3.35% 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% |
VWLTX Vanguard Long-Term Tax-Exempt Fund Investor Shares | 3.35% | 3.09% | 2.91% | 2.56% | 2.79% | 3.14% | 3.43% | 3.44% | 3.64% | 3.67% | 3.79% | 4.07% |
Drawdowns
VMATX vs. VWLTX - Drawdown Comparison
The maximum VMATX drawdown since its inception was -16.24%, roughly equal to the maximum VWLTX drawdown of -16.46%. Use the drawdown chart below to compare losses from any high point for VMATX and VWLTX. For additional features, visit the drawdowns tool.
Volatility
VMATX vs. VWLTX - Volatility Comparison
Vanguard Massachusetts Tax-Exempt Fund (VMATX) and Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) have volatilities of 1.99% and 1.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.