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VTEAX vs. FMBIX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between VTEAX and FMBIX is 0.93, 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.


-0.50.00.51.0
Correlation: 0.9

Performance

VTEAX vs. FMBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) and Fidelity Municipal Bond Index Fund (FMBIX). The values are adjusted to include any dividend payments, if applicable.

2.00%4.00%6.00%8.00%NovemberDecember2025FebruaryMarchApril
6.55%
2.37%
VTEAX
FMBIX

Key characteristics

Sharpe Ratio

VTEAX:

0.39

FMBIX:

0.54

Sortino Ratio

VTEAX:

0.53

FMBIX:

0.74

Omega Ratio

VTEAX:

1.08

FMBIX:

1.11

Calmar Ratio

VTEAX:

0.28

FMBIX:

0.30

Martin Ratio

VTEAX:

1.25

FMBIX:

1.67

Ulcer Index

VTEAX:

1.06%

FMBIX:

1.19%

Daily Std Dev

VTEAX:

3.38%

FMBIX:

3.76%

Max Drawdown

VTEAX:

-12.74%

FMBIX:

-14.31%

Current Drawdown

VTEAX:

-2.11%

FMBIX:

-3.75%

Returns By Period

In the year-to-date period, VTEAX achieves a -0.52% return, which is significantly higher than FMBIX's -0.59% return.


VTEAX

YTD

-0.52%

1M

-1.64%

6M

-1.70%

1Y

1.93%

5Y*

1.39%

10Y*

N/A

FMBIX

YTD

-0.59%

1M

-1.88%

6M

-1.98%

1Y

1.82%

5Y*

0.73%

10Y*

N/A

*Annualized

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


VTEAX vs. FMBIX - Expense Ratio Comparison

VTEAX has a 0.09% expense ratio, which is higher than FMBIX's 0.07% 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%.


VTEAX
Vanguard Tax-Exempt Bond Index Fund Admiral Shares
Expense ratio chart for VTEAX: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VTEAX: 0.09%
Expense ratio chart for FMBIX: current value is 0.07%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
FMBIX: 0.07%

Risk-Adjusted Performance

VTEAX vs. FMBIX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VTEAX
The Risk-Adjusted Performance Rank of VTEAX is 5050
Overall Rank
The Sharpe Ratio Rank of VTEAX is 5151
Sharpe Ratio Rank
The Sortino Ratio Rank of VTEAX is 4747
Sortino Ratio Rank
The Omega Ratio Rank of VTEAX is 5151
Omega Ratio Rank
The Calmar Ratio Rank of VTEAX is 5252
Calmar Ratio Rank
The Martin Ratio Rank of VTEAX is 5050
Martin Ratio Rank

FMBIX
The Risk-Adjusted Performance Rank of FMBIX is 5757
Overall Rank
The Sharpe Ratio Rank of FMBIX is 5959
Sharpe Ratio Rank
The Sortino Ratio Rank of FMBIX is 5757
Sortino Ratio Rank
The Omega Ratio Rank of FMBIX is 6161
Omega Ratio Rank
The Calmar Ratio Rank of FMBIX is 5353
Calmar Ratio Rank
The Martin Ratio Rank of FMBIX is 5555
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

VTEAX vs. FMBIX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) and Fidelity Municipal Bond Index Fund (FMBIX). 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.


Sharpe ratio
The chart of Sharpe ratio for VTEAX, currently valued at 0.61, compared to the broader market-1.000.001.002.003.004.00
VTEAX: 0.61
FMBIX: 0.54
The chart of Sortino ratio for VTEAX, currently valued at 0.82, compared to the broader market0.002.004.006.008.00
VTEAX: 0.83
FMBIX: 0.74
The chart of Omega ratio for VTEAX, currently valued at 1.12, compared to the broader market0.501.001.502.002.503.003.50
VTEAX: 1.12
FMBIX: 1.11
The chart of Calmar ratio for VTEAX, currently valued at 0.44, compared to the broader market0.002.004.006.008.0010.0012.00
VTEAX: 0.44
FMBIX: 0.30
The chart of Martin ratio for VTEAX, currently valued at 1.92, compared to the broader market0.0020.0040.0060.00
VTEAX: 1.92
FMBIX: 1.67

The current VTEAX Sharpe Ratio is 0.39, which is comparable to the FMBIX Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of VTEAX and FMBIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
0.61
0.54
VTEAX
FMBIX

Dividends

VTEAX vs. FMBIX - Dividend Comparison

VTEAX's dividend yield for the trailing twelve months is around 2.91%, more than FMBIX's 2.44% yield.


TTM20242023202220212020201920182017
VTEAX
Vanguard Tax-Exempt Bond Index Fund Admiral Shares
2.91%3.11%2.75%2.06%1.61%1.97%2.28%2.24%0.34%
FMBIX
Fidelity Municipal Bond Index Fund
2.44%2.58%2.31%1.80%1.42%1.59%0.77%0.00%0.00%

Drawdowns

VTEAX vs. FMBIX - Drawdown Comparison

The maximum VTEAX drawdown since its inception was -12.74%, smaller than the maximum FMBIX drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for VTEAX and FMBIX. For additional features, visit the drawdowns tool.


-5.00%-4.00%-3.00%-2.00%-1.00%0.00%NovemberDecember2025FebruaryMarchApril
-2.11%
-3.75%
VTEAX
FMBIX

Volatility

VTEAX vs. FMBIX - Volatility Comparison

The current volatility for Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) is 1.22%, while Fidelity Municipal Bond Index Fund (FMBIX) has a volatility of 1.43%. This indicates that VTEAX experiences smaller price fluctuations and is considered to be less risky than FMBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.40%0.60%0.80%1.00%1.20%1.40%1.60%1.80%NovemberDecember2025FebruaryMarchApril
1.22%
1.43%
VTEAX
FMBIX
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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