VMLUX vs. BSV
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV).
VMLUX is managed by Vanguard. It was launched on Feb 12, 2001. BSV is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index. It was launched on Apr 3, 2007.
Performance
VMLUX vs. BSV - Performance Comparison
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VMLUX vs. BSV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | -0.12% | 5.50% | 3.25% | 4.29% | -2.90% | 0.23% | 3.38% | 4.21% | 1.64% | 2.13% |
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.13% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 4.70% | 4.98% | 1.34% | 1.20% |
Returns By Period
In the year-to-date period, VMLUX achieves a -0.12% return, which is significantly lower than BSV's 0.13% return. Both investments have delivered pretty close results over the past 10 years, with VMLUX having a 2.06% annualized return and BSV not far behind at 1.97%.
VMLUX
- 1D
- 0.00%
- 1M
- -1.53%
- YTD
- -0.12%
- 6M
- 0.59%
- 1Y
- 3.86%
- 3Y*
- 3.78%
- 5Y*
- 2.05%
- 10Y*
- 2.06%
BSV
- 1D
- 0.14%
- 1M
- -0.78%
- YTD
- 0.13%
- 6M
- 1.33%
- 1Y
- 4.13%
- 3Y*
- 4.27%
- 5Y*
- 1.68%
- 10Y*
- 1.97%
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VMLUX vs. BSV - Expense Ratio Comparison
VMLUX has a 0.09% expense ratio, which is higher than BSV's 0.03% 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
VMLUX vs. BSV — Risk / Return Rank
VMLUX
BSV
VMLUX vs. BSV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). 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.
| VMLUX | BSV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.97 | 2.08 | -0.11 |
Sortino ratioReturn per unit of downside risk | 2.95 | 3.31 | -0.36 |
Omega ratioGain probability vs. loss probability | 1.66 | 1.41 | +0.25 |
Calmar ratioReturn relative to maximum drawdown | 2.32 | 3.25 | -0.93 |
Martin ratioReturn relative to average drawdown | 10.14 | 12.45 | -2.31 |
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
| VMLUX | BSV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.97 | 2.08 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 0.62 | +0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.83 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.46 | 0.86 | +0.61 |
Correlation
The correlation between VMLUX and BSV is 0.32, 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
VMLUX vs. BSV - Dividend Comparison
VMLUX's dividend yield for the trailing twelve months is around 3.14%, less than BSV's 3.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | 3.14% | 3.85% | 3.38% | 2.39% | 1.64% | 1.04% | 1.70% | 2.10% | 1.89% | 1.65% | 1.62% | 1.58% |
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 3.90% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
Drawdowns
VMLUX vs. BSV - Drawdown Comparison
The maximum VMLUX drawdown since its inception was -6.41%, smaller than the maximum BSV drawdown of -8.54%. Use the drawdown chart below to compare losses from any high point for VMLUX and BSV.
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Drawdown Indicators
| VMLUX | BSV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.41% | -8.54% | +2.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -1.29% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -5.60% | -8.54% | +2.94% |
Max Drawdown (10Y)Largest decline over 10 years | -6.41% | -8.54% | +2.13% |
Current DrawdownCurrent decline from peak | -1.53% | -0.78% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -0.98% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.34% | +0.12% |
Volatility
VMLUX vs. BSV - Volatility Comparison
The current volatility for Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) is 0.50%, while Vanguard Short-Term Bond Index Fund ETF Shares (BSV) has a volatility of 0.77%. This indicates that VMLUX experiences smaller price fluctuations and is considered to be less risky than BSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMLUX | BSV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 0.77% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 1.03% | 1.19% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.34% | 2.00% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.85% | 2.71% | -0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.92% | 2.37% | -0.45% |