VMLTX vs. VBIAX
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Vanguard Balanced Index Fund Admiral Shares (VBIAX).
VMLTX is managed by Vanguard. It was launched on Aug 31, 1987. VBIAX is managed by Vanguard. It was launched on Nov 13, 2000.
Performance
VMLTX vs. VBIAX - Performance Comparison
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VMLTX vs. VBIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMLTX Vanguard Limited-Term Tax-Exempt Fund Investor Shares | -0.14% | 5.39% | 3.14% | 4.19% | -2.98% | 0.83% | 3.30% | 4.11% | 1.56% | 2.02% |
VBIAX Vanguard Balanced Index Fund Admiral Shares | -4.19% | 13.61% | 14.58% | 17.54% | -16.90% | 14.21% | 16.40% | 21.78% | -2.86% | 13.89% |
Returns By Period
In the year-to-date period, VMLTX achieves a -0.14% return, which is significantly higher than VBIAX's -4.19% return. Over the past 10 years, VMLTX has underperformed VBIAX with an annualized return of 2.03%, while VBIAX has yielded a comparatively higher 8.77% annualized return.
VMLTX
- 1D
- 0.00%
- 1M
- -1.53%
- YTD
- -0.14%
- 6M
- 0.55%
- 1Y
- 3.78%
- 3Y*
- 3.68%
- 5Y*
- 1.96%
- 10Y*
- 2.03%
VBIAX
- 1D
- -0.06%
- 1M
- -5.43%
- YTD
- -4.19%
- 6M
- -2.40%
- 1Y
- 10.89%
- 3Y*
- 11.56%
- 5Y*
- 6.33%
- 10Y*
- 8.77%
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VMLTX vs. VBIAX - Expense Ratio Comparison
VMLTX has a 0.17% expense ratio, which is higher than VBIAX's 0.07% 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
VMLTX vs. VBIAX — Risk / Return Rank
VMLTX
VBIAX
VMLTX vs. VBIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Vanguard Balanced Index Fund Admiral Shares (VBIAX). 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.
| VMLTX | VBIAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.94 | 1.01 | +0.93 |
Sortino ratioReturn per unit of downside risk | 2.89 | 1.51 | +1.38 |
Omega ratioGain probability vs. loss probability | 1.64 | 1.22 | +0.42 |
Calmar ratioReturn relative to maximum drawdown | 2.27 | 1.31 | +0.96 |
Martin ratioReturn relative to average drawdown | 9.90 | 6.22 | +3.68 |
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
| VMLTX | VBIAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 1.01 | +0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.07 | 0.58 | +0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.06 | 0.79 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.92 | 0.60 | +1.32 |
Correlation
The correlation between VMLTX and VBIAX is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
VMLTX vs. VBIAX - Dividend Comparison
VMLTX's dividend yield for the trailing twelve months is around 3.06%, less than VBIAX's 5.84% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMLTX Vanguard Limited-Term Tax-Exempt Fund Investor Shares | 3.06% | 3.75% | 3.27% | 2.30% | 1.56% | 1.64% | 1.62% | 2.01% | 1.81% | 1.55% | 1.52% | 1.50% |
VBIAX Vanguard Balanced Index Fund Admiral Shares | 5.84% | 6.00% | 5.27% | 4.35% | 2.83% | 3.19% | 2.65% | 2.28% | 2.32% | 1.95% | 2.09% | 2.09% |
Drawdowns
VMLTX vs. VBIAX - Drawdown Comparison
The maximum VMLTX drawdown since its inception was -6.41%, smaller than the maximum VBIAX drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for VMLTX and VBIAX.
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Drawdown Indicators
| VMLTX | VBIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.41% | -35.90% | +29.49% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -7.78% | +5.76% |
Max Drawdown (5Y)Largest decline over 5 years | -5.69% | -21.53% | +15.84% |
Max Drawdown (10Y)Largest decline over 10 years | -6.41% | -22.78% | +16.37% |
Current DrawdownCurrent decline from peak | -1.53% | -5.83% | +4.30% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -4.47% | +3.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 1.64% | -1.18% |
Volatility
VMLTX vs. VBIAX - Volatility Comparison
The current volatility for Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) is 0.50%, while Vanguard Balanced Index Fund Admiral Shares (VBIAX) has a volatility of 3.07%. This indicates that VMLTX experiences smaller price fluctuations and is considered to be less risky than VBIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMLTX | VBIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 3.07% | -2.57% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 5.93% | -4.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.33% | 11.27% | -8.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.84% | 11.02% | -9.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.92% | 11.17% | -9.25% |