VMLUX vs. VTEAX
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) and Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX).
VMLUX is managed by Vanguard. It was launched on Feb 12, 2001. VTEAX is managed by Vanguard. It was launched on Aug 25, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMLUX or VTEAX.
Key characteristics
| VMLUX | VTEAX | |
|---|---|---|
| YTD Return | 2.51% | 1.40% |
| 1Y Return | 5.29% | 6.88% |
| 3Y Return (Ann) | 1.29% | -0.27% |
| 5Y Return (Ann) | 1.62% | 1.18% |
| Sharpe Ratio | 3.13 | 2.20 |
| Sortino Ratio | 5.35 | 3.28 |
| Omega Ratio | 1.90 | 1.52 |
| Calmar Ratio | 3.06 | 0.88 |
| Martin Ratio | 16.40 | 8.63 |
| Ulcer Index | 0.32% | 0.80% |
| Daily Std Dev | 1.69% | 3.15% |
| Max Drawdown | -6.41% | -12.74% |
| Current Drawdown | -0.58% | -1.56% |
Correlation
The correlation between VMLUX and VTEAX is 0.72, 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. VTEAX - Performance Comparison
In the year-to-date period, VMLUX achieves a 2.51% return, which is significantly higher than VTEAX's 1.40% 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. VTEAX - Expense Ratio Comparison
Both VMLUX and VTEAX have an expense ratio of 0.09%, 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
VMLUX vs. VTEAX - 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 Tax-Exempt Bond Index Fund Admiral Shares (VTEAX). 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. VTEAX - Dividend Comparison
VMLUX's dividend yield for the trailing twelve months is around 2.81%, less than VTEAX's 3.07% 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% |
VTEAX Vanguard Tax-Exempt Bond Index Fund Admiral Shares | 3.07% | 2.75% | 2.06% | 1.61% | 1.97% | 2.28% | 2.24% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VMLUX vs. VTEAX - Drawdown Comparison
The maximum VMLUX drawdown since its inception was -6.41%, smaller than the maximum VTEAX drawdown of -12.74%. Use the drawdown chart below to compare losses from any high point for VMLUX and VTEAX. For additional features, visit the drawdowns tool.
Volatility
VMLUX vs. VTEAX - Volatility Comparison
The current volatility for Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) is 0.75%, while Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) has a volatility of 1.62%. This indicates that VMLUX experiences smaller price fluctuations and is considered to be less risky than VTEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.