VMLUX vs. VMATX
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) and Vanguard Massachusetts Tax-Exempt Fund (VMATX).
VMLUX is managed by Vanguard. It was launched on Feb 12, 2001. VMATX is managed by Vanguard. It was launched on Dec 9, 1998.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMLUX or VMATX.
Key characteristics
| VMLUX | VMATX | |
|---|---|---|
| YTD Return | 2.51% | 1.86% |
| 1Y Return | 5.29% | 8.88% |
| 3Y Return (Ann) | 1.29% | -0.78% |
| 5Y Return (Ann) | 1.62% | 0.99% |
| 10Y Return (Ann) | 1.69% | 2.27% |
| Sharpe Ratio | 3.13 | 2.20 |
| Sortino Ratio | 5.35 | 3.29 |
| Omega Ratio | 1.90 | 1.51 |
| Calmar Ratio | 3.06 | 0.81 |
| Martin Ratio | 16.40 | 8.92 |
| Ulcer Index | 0.32% | 1.00% |
| Daily Std Dev | 1.69% | 4.04% |
| Max Drawdown | -6.41% | -16.24% |
| Current Drawdown | -0.58% | -3.04% |
Correlation
The correlation between VMLUX and VMATX is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
VMLUX vs. VMATX - Performance Comparison
In the year-to-date period, VMLUX achieves a 2.51% return, which is significantly higher than VMATX's 1.86% return. Over the past 10 years, VMLUX has underperformed VMATX with an annualized return of 1.69%, while VMATX has yielded a comparatively higher 2.27% 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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VMLUX vs. VMATX - Expense Ratio Comparison
VMLUX has a 0.09% expense ratio, which is lower than VMATX's 0.13% expense ratio. Despite the difference, 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
VMLUX vs. VMATX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) and Vanguard Massachusetts Tax-Exempt Fund (VMATX). 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
VMLUX vs. VMATX - Dividend Comparison
VMLUX's dividend yield for the trailing twelve months is around 2.81%, less than VMATX's 3.35% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | 2.81% | 2.39% | 1.64% | 1.29% | 1.70% | 1.96% | 1.90% | 1.66% | 1.64% | 1.59% | 1.68% | 1.75% |
VMATX Vanguard Massachusetts Tax-Exempt Fund | 3.35% | 3.07% | 2.69% | 2.26% | 2.47% | 2.81% | 3.07% | 2.92% | 3.06% | 3.06% | 3.16% | 3.35% |
Drawdowns
VMLUX vs. VMATX - Drawdown Comparison
The maximum VMLUX drawdown since its inception was -6.41%, smaller than the maximum VMATX drawdown of -16.24%. Use the drawdown chart below to compare losses from any high point for VMLUX and VMATX. For additional features, visit the drawdowns tool.
Volatility
VMLUX vs. VMATX - Volatility Comparison
The current volatility for Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) is 0.75%, while Vanguard Massachusetts Tax-Exempt Fund (VMATX) has a volatility of 1.99%. This indicates that VMLUX experiences smaller price fluctuations and is considered to be less risky than VMATX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.