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

Performance

VTEAX vs. VBTLX - 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 Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). The values are adjusted to include any dividend payments, if applicable.

0.00%2.00%4.00%6.00%8.00%JuneJulyAugustSeptemberOctoberNovember
3.21%
3.26%
VTEAX
VBTLX

Returns By Period

In the year-to-date period, VTEAX achieves a 1.70% return, which is significantly higher than VBTLX's 1.37% return.


VTEAX

YTD

1.70%

1M

0.41%

6M

3.09%

1Y

5.41%

5Y (annualized)

1.17%

10Y (annualized)

N/A

VBTLX

YTD

1.37%

1M

-0.73%

6M

3.27%

1Y

6.22%

5Y (annualized)

-0.35%

10Y (annualized)

1.34%

Key characteristics


VTEAXVBTLX
Sharpe Ratio1.831.10
Sortino Ratio2.681.64
Omega Ratio1.431.20
Calmar Ratio0.890.42
Martin Ratio6.863.52
Ulcer Index0.82%1.77%
Daily Std Dev3.07%5.64%
Max Drawdown-12.74%-19.05%
Current Drawdown-1.27%-9.27%

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VTEAX vs. VBTLX - Expense Ratio Comparison

VTEAX has a 0.09% expense ratio, which is higher than VBTLX's 0.05% 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 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%
Expense ratio chart for VBTLX: current value at 0.05% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.05%

Correlation

-0.50.00.51.00.5

The correlation between VTEAX and VBTLX is 0.49, 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.

Risk-Adjusted Performance

VTEAX vs. VBTLX - 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 Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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 1.83, compared to the broader market-1.000.001.002.003.004.005.001.831.10
The chart of Sortino ratio for VTEAX, currently valued at 2.68, compared to the broader market0.005.0010.002.681.64
The chart of Omega ratio for VTEAX, currently valued at 1.43, compared to the broader market1.002.003.004.001.431.20
The chart of Calmar ratio for VTEAX, currently valued at 0.89, compared to the broader market0.005.0010.0015.0020.0025.000.890.42
The chart of Martin ratio for VTEAX, currently valued at 6.86, compared to the broader market0.0020.0040.0060.0080.00100.006.863.52
VTEAX
VBTLX

The current VTEAX Sharpe Ratio is 1.83, which is higher than the VBTLX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of VTEAX and VBTLX, 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 Ratio0.000.501.001.502.002.503.003.50JuneJulyAugustSeptemberOctoberNovember
1.83
1.10
VTEAX
VBTLX

Dividends

VTEAX vs. VBTLX - Dividend Comparison

VTEAX's dividend yield for the trailing twelve months is around 3.06%, less than VBTLX's 3.60% yield.


TTM20232022202120202019201820172016201520142013
VTEAX
Vanguard Tax-Exempt Bond Index Fund Admiral Shares
3.06%2.75%2.06%1.61%1.97%2.28%2.24%0.34%0.00%0.00%0.00%0.00%
VBTLX
Vanguard Total Bond Market Index Fund Admiral Shares
3.60%3.11%2.51%1.90%2.23%2.74%2.78%2.51%2.49%2.48%2.55%2.56%

Drawdowns

VTEAX vs. VBTLX - Drawdown Comparison

The maximum VTEAX drawdown since its inception was -12.74%, smaller than the maximum VBTLX drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for VTEAX and VBTLX. For additional features, visit the drawdowns tool.


-12.00%-10.00%-8.00%-6.00%-4.00%-2.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-1.27%
-9.27%
VTEAX
VBTLX

Volatility

VTEAX vs. VBTLX - Volatility Comparison

The current volatility for Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) is 1.38%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.47%. This indicates that VTEAX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%JuneJulyAugustSeptemberOctoberNovember
1.38%
1.47%
VTEAX
VBTLX