VMLTX vs. VTEB
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Vanguard Tax-Exempt Bond ETF (VTEB).
VMLTX is managed by Vanguard. It was launched on Aug 31, 1987. 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: VMLTX or VTEB.
Key characteristics
| VMLTX | VTEB | |
|---|---|---|
| YTD Return | 2.43% | 1.18% |
| 1Y Return | 4.89% | 6.04% |
| 3Y Return (Ann) | 1.20% | -0.25% |
| 5Y Return (Ann) | 1.54% | 1.15% |
| Sharpe Ratio | 3.10 | 1.73 |
| Sortino Ratio | 5.24 | 2.57 |
| Omega Ratio | 1.89 | 1.34 |
| Calmar Ratio | 3.19 | 0.93 |
| Martin Ratio | 15.84 | 7.57 |
| Ulcer Index | 0.33% | 0.91% |
| Daily Std Dev | 1.68% | 3.97% |
| Max Drawdown | -6.41% | -17.00% |
| Current Drawdown | -0.58% | -1.61% |
Correlation
The correlation between VMLTX and VTEB is 0.55, 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.
Performance
VMLTX vs. VTEB - Performance Comparison
In the year-to-date period, VMLTX achieves a 2.43% return, which is significantly higher than VTEB's 1.18% 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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VMLTX vs. VTEB - Expense Ratio Comparison
VMLTX has a 0.17% 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%.
Risk-Adjusted Performance
VMLTX vs. VTEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) 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
VMLTX vs. VTEB - Dividend Comparison
VMLTX's dividend yield for the trailing twelve months is around 2.72%, less than VTEB's 3.11% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMLTX Vanguard Limited-Term Tax-Exempt Fund Investor Shares | 2.72% | 2.30% | 1.57% | 1.23% | 1.63% | 1.87% | 1.82% | 1.55% | 1.53% | 1.51% | 1.61% | 1.67% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.11% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
VMLTX vs. VTEB - Drawdown Comparison
The maximum VMLTX drawdown since its inception was -6.41%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for VMLTX and VTEB. For additional features, visit the drawdowns tool.
Volatility
VMLTX vs. VTEB - Volatility Comparison
The current volatility for Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) is 0.75%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.95%. This indicates that VMLTX 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.