VPAIX vs. MAPYX
Compare and contrast key facts about Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares (VPAIX) and BlackRock Pennsylvania Municipal Bond Fund (MAPYX).
VPAIX is managed by Vanguard. It was launched on Apr 7, 1986. MAPYX is managed by BlackRock. It was launched on Aug 30, 1990.
Performance
VPAIX vs. MAPYX - Performance Comparison
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VPAIX vs. MAPYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VPAIX Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares | -0.60% | 5.27% | 2.59% | 7.25% | -10.20% | 1.97% | 5.86% | 9.05% | 1.11% | 6.61% |
MAPYX BlackRock Pennsylvania Municipal Bond Fund | -0.78% | 5.20% | 3.57% | 5.80% | -12.40% | 3.18% | 4.29% | 6.67% | 0.73% | 5.78% |
Returns By Period
In the year-to-date period, VPAIX achieves a -0.60% return, which is significantly higher than MAPYX's -0.78% return. Over the past 10 years, VPAIX has outperformed MAPYX with an annualized return of 2.65%, while MAPYX has yielded a comparatively lower 1.90% annualized return.
VPAIX
- 1D
- 0.28%
- 1M
- -2.19%
- YTD
- -0.60%
- 6M
- 1.54%
- 1Y
- 4.27%
- 3Y*
- 3.81%
- 5Y*
- 1.17%
- 10Y*
- 2.65%
MAPYX
- 1D
- 0.31%
- 1M
- -2.51%
- YTD
- -0.78%
- 6M
- 1.09%
- 1Y
- 3.42%
- 3Y*
- 3.77%
- 5Y*
- 0.63%
- 10Y*
- 1.90%
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VPAIX vs. MAPYX - Expense Ratio Comparison
VPAIX has a 0.17% expense ratio, which is lower than MAPYX's 0.54% expense ratio.
Return for Risk
VPAIX vs. MAPYX — Risk / Return Rank
VPAIX
MAPYX
VPAIX vs. MAPYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares (VPAIX) and BlackRock Pennsylvania Municipal Bond Fund (MAPYX). 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.
| VPAIX | MAPYX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 0.49 | +0.40 |
Sortino ratioReturn per unit of downside risk | 1.22 | 0.70 | +0.51 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.17 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.06 | 0.76 | +0.29 |
Martin ratioReturn relative to average drawdown | 3.26 | 2.31 | +0.95 |
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
| VPAIX | MAPYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 0.49 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.12 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.39 | +0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 1.15 | -0.02 |
Correlation
The correlation between VPAIX and MAPYX is 0.80, 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.
Dividends
VPAIX vs. MAPYX - Dividend Comparison
VPAIX's dividend yield for the trailing twelve months is around 3.68%, less than MAPYX's 3.86% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VPAIX Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares | 3.68% | 4.48% | 4.04% | 3.25% | 3.12% | 2.45% | 3.16% | 3.70% | 3.91% | 3.93% | 4.10% | 3.92% |
MAPYX BlackRock Pennsylvania Municipal Bond Fund | 3.86% | 4.98% | 4.11% | 3.00% | 2.17% | 2.59% | 3.14% | 3.79% | 4.03% | 4.16% | 4.12% | 4.00% |
Drawdowns
VPAIX vs. MAPYX - Drawdown Comparison
The maximum VPAIX drawdown since its inception was -19.51%, which is greater than MAPYX's maximum drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for VPAIX and MAPYX.
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Drawdown Indicators
| VPAIX | MAPYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.51% | -17.13% | -2.38% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -6.77% | +1.57% |
Max Drawdown (5Y)Largest decline over 5 years | -15.76% | -17.13% | +1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -15.76% | -17.13% | +1.37% |
Current DrawdownCurrent decline from peak | -2.55% | -2.80% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -2.16% | -2.28% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 2.24% | -0.55% |
Volatility
VPAIX vs. MAPYX - Volatility Comparison
The current volatility for Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares (VPAIX) is 1.21%, while BlackRock Pennsylvania Municipal Bond Fund (MAPYX) has a volatility of 1.36%. This indicates that VPAIX experiences smaller price fluctuations and is considered to be less risky than MAPYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPAIX | MAPYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.36% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 1.84% | 2.02% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 7.76% | -2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.45% | 5.24% | -0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.39% | 4.83% | -0.44% |