VMLTX vs. VWAHX
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
VMLTX is managed by Vanguard. It was launched on Aug 31, 1987. VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMLTX or VWAHX.
Key characteristics
| VMLTX | VWAHX | |
|---|---|---|
| YTD Return | 2.43% | 3.44% |
| 1Y Return | 4.89% | 10.27% |
| 3Y Return (Ann) | 1.20% | -0.37% |
| 5Y Return (Ann) | 1.54% | 1.59% |
| 10Y Return (Ann) | 1.60% | 3.14% |
| Sharpe Ratio | 3.10 | 2.68 |
| Sortino Ratio | 5.24 | 4.08 |
| Omega Ratio | 1.89 | 1.65 |
| Calmar Ratio | 3.19 | 1.02 |
| Martin Ratio | 15.84 | 13.11 |
| Ulcer Index | 0.33% | 0.86% |
| Daily Std Dev | 1.68% | 4.20% |
| Max Drawdown | -6.41% | -17.82% |
| Current Drawdown | -0.58% | -1.86% |
Correlation
The correlation between VMLTX and VWAHX is 0.69, 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. VWAHX - Performance Comparison
In the year-to-date period, VMLTX achieves a 2.43% return, which is significantly lower than VWAHX's 3.44% return. Over the past 10 years, VMLTX has underperformed VWAHX with an annualized return of 1.60%, while VWAHX has yielded a comparatively higher 3.14% 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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VMLTX vs. VWAHX - Expense Ratio Comparison
Both VMLTX and VWAHX have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
VMLTX vs. VWAHX - 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 High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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. VWAHX - Dividend Comparison
VMLTX's dividend yield for the trailing twelve months is around 2.72%, less than VWAHX's 3.70% 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% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 3.70% | 3.53% | 3.37% | 2.86% | 3.09% | 3.36% | 3.79% | 3.69% | 3.75% | 3.69% | 3.78% | 4.12% |
Drawdowns
VMLTX vs. VWAHX - Drawdown Comparison
The maximum VMLTX drawdown since its inception was -6.41%, smaller than the maximum VWAHX drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for VMLTX and VWAHX. For additional features, visit the drawdowns tool.
Volatility
VMLTX vs. VWAHX - Volatility Comparison
The current volatility for Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) is 0.75%, while Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a volatility of 2.01%. This indicates that VMLTX experiences smaller price fluctuations and is considered to be less risky than VWAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.