VMLTX vs. VWSTX
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Vanguard Short-Term Tax-Exempt Fund Investor Shares (VWSTX).
VMLTX is managed by Vanguard. It was launched on Aug 31, 1987. VWSTX 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: VMLTX or VWSTX.
Key characteristics
| VMLTX | VWSTX | |
|---|---|---|
| YTD Return | 2.52% | 2.77% |
| 1Y Return | 5.28% | 4.54% |
| 3Y Return (Ann) | 1.23% | 1.93% |
| 5Y Return (Ann) | 1.58% | 1.63% |
| 10Y Return (Ann) | 1.61% | 1.35% |
| Sharpe Ratio | 3.22 | 3.82 |
| Sortino Ratio | 5.46 | 9.06 |
| Omega Ratio | 1.93 | 2.52 |
| Calmar Ratio | 2.83 | 9.00 |
| Martin Ratio | 16.73 | 31.27 |
| Ulcer Index | 0.32% | 0.15% |
| Daily Std Dev | 1.67% | 1.19% |
| Max Drawdown | -6.41% | -3.08% |
| Current Drawdown | -0.49% | -0.11% |
Correlation
The correlation between VMLTX and VWSTX is 0.64, 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. VWSTX - Performance Comparison
In the year-to-date period, VMLTX achieves a 2.52% return, which is significantly lower than VWSTX's 2.77% return. Over the past 10 years, VMLTX has outperformed VWSTX with an annualized return of 1.61%, while VWSTX has yielded a comparatively lower 1.35% 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. VWSTX - Expense Ratio Comparison
Both VMLTX and VWSTX 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. VWSTX - 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 Short-Term Tax-Exempt Fund Investor Shares (VWSTX). 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. VWSTX - Dividend Comparison
VMLTX's dividend yield for the trailing twelve months is around 2.71%, less than VWSTX's 3.16% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMLTX Vanguard Limited-Term Tax-Exempt Fund Investor Shares | 2.71% | 2.30% | 1.57% | 1.23% | 1.63% | 1.87% | 1.82% | 1.55% | 1.53% | 1.51% | 1.61% | 1.67% |
VWSTX Vanguard Short-Term Tax-Exempt Fund Investor Shares | 3.16% | 2.42% | 1.16% | 0.62% | 1.17% | 1.59% | 1.44% | 1.06% | 0.87% | 0.70% | 0.71% | 0.85% |
Drawdowns
VMLTX vs. VWSTX - Drawdown Comparison
The maximum VMLTX drawdown since its inception was -6.41%, which is greater than VWSTX's maximum drawdown of -3.08%. Use the drawdown chart below to compare losses from any high point for VMLTX and VWSTX. For additional features, visit the drawdowns tool.
Volatility
VMLTX vs. VWSTX - Volatility Comparison
Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) has a higher volatility of 0.75% compared to Vanguard Short-Term Tax-Exempt Fund Investor Shares (VWSTX) at 0.44%. This indicates that VMLTX's price experiences larger fluctuations and is considered to be riskier than VWSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.