VTEAX vs. ATOIX
Compare and contrast key facts about Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) and abrdn Ultra Short Municipal Income Fund (ATOIX).
VTEAX is managed by Vanguard. It was launched on Aug 25, 2015. ATOIX is managed by Aberdeen. It was launched on Dec 4, 2002.
Performance
VTEAX vs. ATOIX - Performance Comparison
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VTEAX vs. ATOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTEAX Vanguard Tax-Exempt Bond Index Fund Admiral Shares | -0.49% | 3.67% | 1.63% | 6.39% | -8.21% | 1.43% | 4.97% | 7.45% | 0.99% | 4.94% |
ATOIX abrdn Ultra Short Municipal Income Fund | 0.35% | 3.33% | 3.14% | 3.27% | 0.87% | -0.04% | 0.88% | 1.40% | 1.54% | 2.24% |
Returns By Period
In the year-to-date period, VTEAX achieves a -0.49% return, which is significantly lower than ATOIX's 0.35% return. Over the past 10 years, VTEAX has outperformed ATOIX with an annualized return of 2.06%, while ATOIX has yielded a comparatively lower 1.73% annualized return.
VTEAX
- 1D
- 0.20%
- 1M
- -2.46%
- YTD
- -0.49%
- 6M
- 1.05%
- 1Y
- 3.84%
- 3Y*
- 2.77%
- 5Y*
- 0.85%
- 10Y*
- 2.06%
ATOIX
- 1D
- 0.00%
- 1M
- -0.10%
- YTD
- 0.35%
- 6M
- 1.37%
- 1Y
- 2.95%
- 3Y*
- 3.07%
- 5Y*
- 2.17%
- 10Y*
- 1.73%
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VTEAX vs. ATOIX - Expense Ratio Comparison
VTEAX has a 0.09% expense ratio, which is lower than ATOIX's 0.44% expense ratio.
Return for Risk
VTEAX vs. ATOIX — Risk / Return Rank
VTEAX
ATOIX
VTEAX vs. ATOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) and abrdn Ultra Short Municipal Income Fund (ATOIX). 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.
| VTEAX | ATOIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.95 | 3.51 | -2.56 |
Sortino ratioReturn per unit of downside risk | 1.25 | 18.38 | -17.13 |
Omega ratioGain probability vs. loss probability | 1.27 | 11.59 | -10.32 |
Calmar ratioReturn relative to maximum drawdown | 0.99 | 32.23 | -31.25 |
Martin ratioReturn relative to average drawdown | 3.27 | 93.42 | -90.15 |
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
| VTEAX | ATOIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 3.51 | -2.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 2.69 | -2.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 2.24 | -1.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 2.45 | -1.80 |
Correlation
The correlation between VTEAX and ATOIX is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VTEAX vs. ATOIX - Dividend Comparison
VTEAX's dividend yield for the trailing twelve months is around 3.06%, more than ATOIX's 2.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTEAX Vanguard Tax-Exempt Bond Index Fund Admiral Shares | 3.06% | 3.26% | 3.36% | 2.98% | 2.05% | 1.60% | 1.97% | 2.27% | 2.24% | 1.95% | 1.67% | 0.59% |
ATOIX abrdn Ultra Short Municipal Income Fund | 2.90% | 3.27% | 3.09% | 3.02% | 1.07% | 0.06% | 0.88% | 1.39% | 1.42% | 2.20% | 0.61% | 0.52% |
Drawdowns
VTEAX vs. ATOIX - Drawdown Comparison
The maximum VTEAX drawdown since its inception was -12.75%, which is greater than ATOIX's maximum drawdown of -1.46%. Use the drawdown chart below to compare losses from any high point for VTEAX and ATOIX.
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Drawdown Indicators
| VTEAX | ATOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.75% | -1.46% | -11.29% |
Max Drawdown (1Y)Largest decline over 1 year | -4.50% | -0.10% | -4.40% |
Max Drawdown (5Y)Largest decline over 5 years | -12.75% | -0.37% | -12.38% |
Max Drawdown (10Y)Largest decline over 10 years | -12.75% | -0.43% | -12.32% |
Current DrawdownCurrent decline from peak | -2.46% | -0.10% | -2.36% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -0.06% | -2.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 0.03% | +1.33% |
Volatility
VTEAX vs. ATOIX - Volatility Comparison
Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) has a higher volatility of 1.10% compared to abrdn Ultra Short Municipal Income Fund (ATOIX) at 0.10%. This indicates that VTEAX's price experiences larger fluctuations and is considered to be riskier than ATOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTEAX | ATOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.10% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.47% | 0.65% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.36% | 0.92% | +3.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.57% | 0.81% | +2.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.65% | 0.78% | +2.87% |