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

Key characteristics


VTEAXLTEBX
YTD Return1.35%2.07%
1Y Return6.94%5.73%
3Y Return (Ann)-0.30%0.22%
5Y Return (Ann)1.23%0.86%
Sharpe Ratio2.242.66
Sortino Ratio3.334.15
Omega Ratio1.531.63
Calmar Ratio0.881.08
Martin Ratio8.8511.06
Ulcer Index0.80%0.53%
Daily Std Dev3.15%2.21%
Max Drawdown-12.74%-8.45%
Current Drawdown-1.61%-0.96%

Correlation

-0.50.00.51.00.8

The correlation between VTEAX and LTEBX is 0.84, 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.

Performance

VTEAX vs. LTEBX - Performance Comparison

In the year-to-date period, VTEAX achieves a 1.35% return, which is significantly lower than LTEBX's 2.07% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


-1.00%0.00%1.00%2.00%3.00%JuneJulyAugustSeptemberOctoberNovember
1.87%
2.17%
VTEAX
LTEBX

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VTEAX vs. LTEBX - Expense Ratio Comparison

VTEAX has a 0.09% expense ratio, which is lower than LTEBX's 0.57% expense ratio.


LTEBX
American Funds Limited Term Tax-Exempt Bond Fund
Expense ratio chart for LTEBX: current value at 0.57% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.57%
Expense ratio chart for VTEAX: current value at 0.09% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.09%

Risk-Adjusted Performance

VTEAX vs. LTEBX - 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 American Funds Limited Term Tax-Exempt Bond Fund (LTEBX). 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
Sharpe ratio
The chart of Sharpe ratio for VTEAX, currently valued at 2.24, compared to the broader market0.002.004.002.24
Sortino ratio
The chart of Sortino ratio for VTEAX, currently valued at 3.33, compared to the broader market0.005.0010.003.33
Omega ratio
The chart of Omega ratio for VTEAX, currently valued at 1.53, compared to the broader market1.002.003.004.001.53
Calmar ratio
The chart of Calmar ratio for VTEAX, currently valued at 0.88, compared to the broader market0.005.0010.0015.0020.0025.000.88
Martin ratio
The chart of Martin ratio for VTEAX, currently valued at 8.85, compared to the broader market0.0020.0040.0060.0080.00100.008.85
LTEBX
Sharpe ratio
The chart of Sharpe ratio for LTEBX, currently valued at 2.66, compared to the broader market0.002.004.002.66
Sortino ratio
The chart of Sortino ratio for LTEBX, currently valued at 4.15, compared to the broader market0.005.0010.004.15
Omega ratio
The chart of Omega ratio for LTEBX, currently valued at 1.63, compared to the broader market1.002.003.004.001.63
Calmar ratio
The chart of Calmar ratio for LTEBX, currently valued at 1.08, compared to the broader market0.005.0010.0015.0020.0025.001.08
Martin ratio
The chart of Martin ratio for LTEBX, currently valued at 11.06, compared to the broader market0.0020.0040.0060.0080.00100.0011.06

VTEAX vs. LTEBX - Sharpe Ratio Comparison

The current VTEAX Sharpe Ratio is 2.24, which is comparable to the LTEBX Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of VTEAX and LTEBX, 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 Ratio0.501.001.502.002.503.003.504.00JuneJulyAugustSeptemberOctoberNovember
2.24
2.66
VTEAX
LTEBX

Dividends

VTEAX vs. LTEBX - Dividend Comparison

VTEAX's dividend yield for the trailing twelve months is around 3.07%, more than LTEBX's 2.25% yield.


TTM20232022202120202019201820172016201520142013
VTEAX
Vanguard Tax-Exempt Bond Index Fund Admiral Shares
3.07%2.75%2.06%1.61%1.97%2.28%2.24%0.34%0.00%0.00%0.00%0.00%
LTEBX
American Funds Limited Term Tax-Exempt Bond Fund
2.25%1.92%1.17%0.81%1.35%1.86%2.04%2.04%2.09%2.35%2.44%2.48%

Drawdowns

VTEAX vs. LTEBX - Drawdown Comparison

The maximum VTEAX drawdown since its inception was -12.74%, which is greater than LTEBX's maximum drawdown of -8.45%. Use the drawdown chart below to compare losses from any high point for VTEAX and LTEBX. For additional features, visit the drawdowns tool.


-5.00%-4.00%-3.00%-2.00%-1.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-1.61%
-0.96%
VTEAX
LTEBX

Volatility

VTEAX vs. LTEBX - Volatility Comparison

Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) has a higher volatility of 1.62% compared to American Funds Limited Term Tax-Exempt Bond Fund (LTEBX) at 1.05%. This indicates that VTEAX's price experiences larger fluctuations and is considered to be riskier than LTEBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%JuneJulyAugustSeptemberOctoberNovember
1.62%
1.05%
VTEAX
LTEBX