VSDM vs. VMLUX
Compare and contrast key facts about Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX).
VSDM is an actively managed fund by Vanguard. It was launched on Nov 21, 2024. VMLUX is managed by Vanguard. It was launched on Feb 12, 2001.
Performance
VSDM vs. VMLUX - Performance Comparison
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VSDM vs. VMLUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VSDM Vanguard Short Duration Tax-Exempt Bond ETF | 0.30% | 5.39% | -0.15% |
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | -0.12% | 5.50% | 0.64% |
Returns By Period
In the year-to-date period, VSDM achieves a 0.30% return, which is significantly higher than VMLUX's -0.12% return.
VSDM
- 1D
- 0.09%
- 1M
- -1.24%
- YTD
- 0.30%
- 6M
- 1.03%
- 1Y
- 4.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VMLUX
- 1D
- 0.00%
- 1M
- -1.53%
- YTD
- -0.12%
- 6M
- 0.59%
- 1Y
- 3.86%
- 3Y*
- 3.78%
- 5Y*
- 2.05%
- 10Y*
- 2.06%
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VSDM vs. VMLUX - Expense Ratio Comparison
VSDM has a 0.12% expense ratio, which is higher than VMLUX's 0.09% 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%.
Return for Risk
VSDM vs. VMLUX — Risk / Return Rank
VSDM
VMLUX
VSDM vs. VMLUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX). 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.
| VSDM | VMLUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.13 | 1.97 | +0.16 |
Sortino ratioReturn per unit of downside risk | 2.68 | 2.95 | -0.27 |
Omega ratioGain probability vs. loss probability | 1.57 | 1.66 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 2.49 | 2.32 | +0.17 |
Martin ratioReturn relative to average drawdown | 8.93 | 10.14 | -1.21 |
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
| VSDM | VMLUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 1.97 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.11 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.04 | 1.46 | +0.58 |
Correlation
The correlation between VSDM and VMLUX is 0.59, 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.
Dividends
VSDM vs. VMLUX - Dividend Comparison
VSDM's dividend yield for the trailing twelve months is around 3.05%, less than VMLUX's 3.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSDM Vanguard Short Duration Tax-Exempt Bond ETF | 3.05% | 3.06% | 0.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | 3.14% | 3.85% | 3.38% | 2.39% | 1.64% | 1.04% | 1.70% | 2.10% | 1.89% | 1.65% | 1.62% | 1.58% |
Drawdowns
VSDM vs. VMLUX - Drawdown Comparison
The maximum VSDM drawdown since its inception was -1.81%, smaller than the maximum VMLUX drawdown of -6.41%. Use the drawdown chart below to compare losses from any high point for VSDM and VMLUX.
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Drawdown Indicators
| VSDM | VMLUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.81% | -6.41% | +4.60% |
Max Drawdown (1Y)Largest decline over 1 year | -1.81% | -2.02% | +0.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.60% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.41% | — |
Current DrawdownCurrent decline from peak | -1.24% | -1.53% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -0.54% | +0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 0.46% | +0.04% |
Volatility
VSDM vs. VMLUX - Volatility Comparison
Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) has a higher volatility of 0.73% compared to Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) at 0.50%. This indicates that VSDM's price experiences larger fluctuations and is considered to be riskier than VMLUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSDM | VMLUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 0.50% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 1.03% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.08% | 2.34% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.02% | 1.85% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.02% | 1.92% | +0.10% |