VNDFX vs. VMTTX
VNDFX (Viking Tax-Free Fund for North Dakota) and VMTTX (Viking Tax-Free Fund For Montana) are both Municipal Bonds funds from IntegrityVikingFunds. Over the past 10 years, VNDFX returned 0.43%/yr vs 1.00%/yr for VMTTX. Their correlation of 0.88 means they have usually moved in the same direction. Both charge a 0.98% expense ratio.
Performance
VNDFX vs. VMTTX - Performance Comparison
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Returns By Period
In the year-to-date period, VNDFX achieves a 0.37% return, which is significantly lower than VMTTX's 0.56% return. Over the past 10 years, VNDFX has underperformed VMTTX with an annualized return of 0.43%, while VMTTX has yielded a comparatively higher 1.00% annualized return.
VNDFX
- 1D
- -0.11%
- 1M
- -2.02%
- 6M
- -0.58%
- YTD
- 0.37%
- 1Y
- 5.34%
- 3Y*
- 1.52%
- 5Y*
- -0.98%
- 10Y*
- 0.43%
- ALL TIME*
- 1.79%
VMTTX
- 1D
- -0.11%
- 1M
- -1.74%
- 6M
- -0.25%
- YTD
- 0.56%
- 1Y
- 5.36%
- 3Y*
- 2.22%
- 5Y*
- -0.21%
- 10Y*
- 1.00%
- ALL TIME*
- 1.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VNDFX vs. VMTTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNDFX Viking Tax-Free Fund for North Dakota | 0.37% | 3.02% | -1.96% | 4.65% | -9.89% | 0.42% | 2.90% | 5.12% | 0.72% | 3.35% |
VMTTX Viking Tax-Free Fund For Montana | 0.56% | 3.71% | -0.16% | 4.24% | -8.52% | 0.28% | 4.04% | 5.59% | 0.53% | 4.00% |
Correlation
The correlation between VNDFX and VMTTX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 1999 | 0.88 |
The correlation between VNDFX and VMTTX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.
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Return for Risk
VNDFX vs. VMTTX — Risk / Return Rank
VNDFX
VMTTX
VNDFX vs. VMTTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Viking Tax-Free Fund for North Dakota (VNDFX) and Viking Tax-Free Fund For Montana (VMTTX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VNDFX | VMTTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.77 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 2.53 | -0.24 |
| Martin ratioReturn relative to average drawdown | 8.61 | 9.49 | -0.88 |
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Drawdowns
VNDFX vs. VMTTX - Drawdown Comparison
The maximum VNDFX drawdown since its inception was -14.80%, which is greater than VMTTX's maximum drawdown of -13.11%. Use the drawdown chart below to compare losses from any high point for VNDFX and VMTTX.
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Drawdown Indicators
| VNDFX | VMTTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.80% | -13.11% | -1.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -2.27% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -8.01% | -5.55% | -2.46% |
Max Drawdown (5Y)Largest decline over 5 years | -14.74% | -13.11% | -1.63% |
Max Drawdown (10Y)Largest decline over 10 years | -14.80% | -13.11% | -1.69% |
Current DrawdownCurrent decline from peak | -4.85% | -1.74% | -3.11% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -2.48% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.60% | +0.08% |
Volatility
VNDFX vs. VMTTX - Volatility Comparison
Viking Tax-Free Fund for North Dakota (VNDFX) and Viking Tax-Free Fund For Montana (VMTTX) have volatilities of 0.85% and 0.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNDFX | VMTTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.82% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.98% | 1.80% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 2.31% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.63% | 3.86% | +0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.04% | 3.66% | +0.38% |
VNDFX vs. VMTTX - Expense Ratio Comparison
Both VNDFX and VMTTX have an expense ratio of 0.98%.
Dividends
VNDFX vs. VMTTX - Dividend Comparison
VNDFX's dividend yield for the trailing twelve months is around 2.79%, which matches VMTTX's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMTTX Viking Tax-Free Fund For Montana | 2.77% | 2.93% | 2.81% | 2.47% | 2.06% | 1.55% | 1.89% | 2.63% | 2.52% | 2.61% | 2.77% | 2.62% |
VNDFX Viking Tax-Free Fund for North Dakota | 2.79% | 3.03% | 2.93% | 2.30% | 1.86% | 1.69% | 2.07% | 2.72% | 2.58% | 2.71% | 2.62% | 2.38% |
Frequently Asked Questions
VNDFX and VMTTX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNDFX has higher volatility (0.85%) compared to VMTTX (0.82%). In terms of maximum drawdown, VNDFX dropped -14.80% vs VMTTX's -13.11%.
VMTTX currently has the higher Sharpe Ratio (2.52 vs 2.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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