VTEAX vs. VGCAX
Compare and contrast key facts about Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) and Vanguard Global Credit Bond Fund Admiral Shares (VGCAX).
VTEAX is managed by Vanguard. It was launched on Aug 25, 2015. VGCAX is managed by Vanguard. It was launched on Nov 15, 2018.
Performance
VTEAX vs. VGCAX - Performance Comparison
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VTEAX vs. VGCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VTEAX Vanguard Tax-Exempt Bond Index Fund Admiral Shares | -0.24% | 3.67% | 1.63% | 6.39% | -8.21% | 1.43% | 4.97% | 7.45% | 1.95% |
VGCAX Vanguard Global Credit Bond Fund Admiral Shares | -0.47% | 7.30% | 3.99% | 9.22% | -13.43% | -0.64% | 10.81% | 13.05% | 0.96% |
Returns By Period
In the year-to-date period, VTEAX achieves a -0.24% return, which is significantly higher than VGCAX's -0.47% return.
VTEAX
- 1D
- 0.25%
- 1M
- -1.97%
- YTD
- -0.24%
- 6M
- 1.20%
- 1Y
- 3.73%
- 3Y*
- 2.86%
- 5Y*
- 0.89%
- 10Y*
- 2.09%
VGCAX
- 1D
- 0.37%
- 1M
- -1.74%
- YTD
- -0.47%
- 6M
- 0.34%
- 1Y
- 4.73%
- 3Y*
- 5.55%
- 5Y*
- 1.37%
- 10Y*
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VTEAX vs. VGCAX - Expense Ratio Comparison
VTEAX has a 0.09% expense ratio, which is lower than VGCAX's 0.25% expense ratio. Despite the difference, 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
VTEAX vs. VGCAX — Risk / Return Rank
VTEAX
VGCAX
VTEAX vs. VGCAX - 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 Vanguard Global Credit Bond Fund Admiral Shares (VGCAX). 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 | VGCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.95 | 1.42 | -0.47 |
Sortino ratioReturn per unit of downside risk | 1.24 | 2.00 | -0.76 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.97 | 1.75 | -0.78 |
Martin ratioReturn relative to average drawdown | 3.22 | 6.84 | -3.63 |
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 | VGCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 1.42 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.27 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.79 | -0.13 |
Correlation
The correlation between VTEAX and VGCAX is 0.53, 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
VTEAX vs. VGCAX - Dividend Comparison
VTEAX's dividend yield for the trailing twelve months is around 3.05%, less than VGCAX's 3.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTEAX Vanguard Tax-Exempt Bond Index Fund Admiral Shares | 3.05% | 3.26% | 3.36% | 2.98% | 2.05% | 1.60% | 1.97% | 2.27% | 2.24% | 1.95% | 1.67% | 0.59% |
VGCAX Vanguard Global Credit Bond Fund Admiral Shares | 3.88% | 4.91% | 4.65% | 4.48% | 2.72% | 3.16% | 4.65% | 6.88% | 0.36% | 0.00% | 0.00% | 0.00% |
Drawdowns
VTEAX vs. VGCAX - Drawdown Comparison
The maximum VTEAX drawdown since its inception was -12.75%, smaller than the maximum VGCAX drawdown of -18.63%. Use the drawdown chart below to compare losses from any high point for VTEAX and VGCAX.
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Drawdown Indicators
| VTEAX | VGCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.75% | -18.63% | +5.88% |
Max Drawdown (1Y)Largest decline over 1 year | -4.50% | -2.90% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -12.75% | -18.63% | +5.88% |
Max Drawdown (10Y)Largest decline over 10 years | -12.75% | — | — |
Current DrawdownCurrent decline from peak | -2.21% | -2.19% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -4.42% | +2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 0.74% | +0.62% |
Volatility
VTEAX vs. VGCAX - Volatility Comparison
The current volatility for Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) is 1.15%, while Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) has a volatility of 1.57%. This indicates that VTEAX experiences smaller price fluctuations and is considered to be less risky than VGCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTEAX | VGCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.57% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 1.48% | 2.24% | -0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.36% | 3.50% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.57% | 5.04% | -1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.65% | 4.86% | -1.21% |