VMLUX vs. VTEB
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) and Vanguard Tax-Exempt Bond ETF (VTEB).
VMLUX is managed by Vanguard. It was launched on Feb 12, 2001. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMLUX or VTEB.
Key characteristics
| VMLUX | VTEB | |
|---|---|---|
| YTD Return | 2.60% | 1.52% |
| 1Y Return | 5.39% | 7.21% |
| 3Y Return (Ann) | 1.32% | -0.14% |
| 5Y Return (Ann) | 1.64% | 1.25% |
| Sharpe Ratio | 3.20 | 1.89 |
| Sortino Ratio | 5.47 | 2.81 |
| Omega Ratio | 1.93 | 1.38 |
| Calmar Ratio | 3.12 | 0.94 |
| Martin Ratio | 16.81 | 8.30 |
| Ulcer Index | 0.32% | 0.90% |
| Daily Std Dev | 1.69% | 3.96% |
| Max Drawdown | -6.41% | -17.00% |
| Current Drawdown | -0.48% | -1.28% |
Correlation
The correlation between VMLUX and VTEB is 0.55, 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
VMLUX vs. VTEB - Performance Comparison
In the year-to-date period, VMLUX achieves a 2.60% return, which is significantly higher than VTEB's 1.52% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
VMLUX vs. VTEB - Expense Ratio Comparison
VMLUX has a 0.09% expense ratio, which is higher than VTEB's 0.05% 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%.
Risk-Adjusted Performance
VMLUX vs. VTEB - 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 ETF (VTEB). 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. VTEB - Dividend Comparison
VMLUX's dividend yield for the trailing twelve months is around 2.81%, less than VTEB's 3.10% 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.10% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
VMLUX vs. VTEB - Drawdown Comparison
The maximum VMLUX drawdown since its inception was -6.41%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for VMLUX and VTEB. For additional features, visit the drawdowns tool.
Volatility
VMLUX vs. VTEB - Volatility Comparison
The current volatility for Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) is 0.75%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.96%. This indicates that VMLUX experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.