VMLTX vs. VSBSX
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX).
VMLTX is managed by Vanguard. It was launched on Aug 31, 1987. VSBSX is managed by Vanguard. It was launched on Dec 28, 2009.
Performance
VMLTX vs. VSBSX - Performance Comparison
Loading graphics...
VMLTX vs. VSBSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMLTX Vanguard Limited-Term Tax-Exempt Fund Investor Shares | -0.04% | 5.39% | 3.14% | 4.19% | -2.98% | 0.83% | 3.30% | 4.11% | 1.56% | 2.02% |
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 0.29% | 5.08% | 4.39% | 4.23% | -3.87% | -0.69% | 3.09% | 3.51% | 1.52% | 0.35% |
Returns By Period
In the year-to-date period, VMLTX achieves a -0.04% return, which is significantly lower than VSBSX's 0.29% return. Over the past 10 years, VMLTX has outperformed VSBSX with an annualized return of 2.04%, while VSBSX has yielded a comparatively lower 1.74% annualized return.
VMLTX
- 1D
- 0.09%
- 1M
- -1.26%
- YTD
- -0.04%
- 6M
- 0.65%
- 1Y
- 3.78%
- 3Y*
- 3.71%
- 5Y*
- 1.98%
- 10Y*
- 2.04%
VSBSX
- 1D
- 0.10%
- 1M
- -0.31%
- YTD
- 0.29%
- 6M
- 1.25%
- 1Y
- 3.68%
- 3Y*
- 4.11%
- 5Y*
- 1.84%
- 10Y*
- 1.74%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
VMLTX vs. VSBSX - Expense Ratio Comparison
VMLTX has a 0.17% expense ratio, which is higher than VSBSX'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. VSBSX — Risk / Return Rank
VMLTX
VSBSX
VMLTX vs. VSBSX - 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 Short-Term Treasury Index Fund Admiral Shares (VSBSX). 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 | VSBSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 2.60 | -0.86 |
Sortino ratioReturn per unit of downside risk | 2.50 | 4.12 | -1.62 |
Omega ratioGain probability vs. loss probability | 1.56 | 1.56 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.27 | 4.52 | -2.25 |
Martin ratioReturn relative to average drawdown | 9.71 | 17.41 | -7.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| VMLTX | VSBSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 2.60 | -0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.08 | 0.96 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 1.14 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.92 | 1.07 | +0.85 |
Correlation
The correlation between VMLTX and VSBSX is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VMLTX vs. VSBSX - Dividend Comparison
VMLTX's dividend yield for the trailing twelve months is around 3.06%, less than VSBSX's 3.57% 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% |
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 3.57% | 3.98% | 4.50% | 3.29% | 1.12% | 0.63% | 1.72% | 2.26% | 1.80% | 1.10% | 0.76% | 0.71% |
Drawdowns
VMLTX vs. VSBSX - Drawdown Comparison
The maximum VMLTX drawdown since its inception was -6.41%, which is greater than VSBSX's maximum drawdown of -5.77%. Use the drawdown chart below to compare losses from any high point for VMLTX and VSBSX.
Loading graphics...
Drawdown Indicators
| VMLTX | VSBSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.41% | -5.77% | -0.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -0.84% | -1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -5.69% | -5.77% | +0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -6.41% | -5.77% | -0.64% |
Current DrawdownCurrent decline from peak | -1.44% | -0.43% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -0.59% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.22% | +0.25% |
Volatility
VMLTX vs. VSBSX - Volatility Comparison
Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) have volatilities of 0.52% and 0.53%, 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.
Loading graphics...
Volatility by Period
| VMLTX | VSBSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 0.53% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 0.84% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.32% | 1.44% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.84% | 1.94% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.92% | 1.53% | +0.39% |