VTEAX vs. VTEB
Compare and contrast key facts about Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) and Vanguard Tax-Exempt Bond ETF (VTEB).
VTEAX is managed by Vanguard. It was launched on Aug 25, 2015. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VTEAX or VTEB.
Performance
VTEAX vs. VTEB - Performance Comparison
Returns By Period
The year-to-date returns for both investments are quite close, with VTEAX having a 1.75% return and VTEB slightly higher at 1.76%.
VTEAX
1.75%
1.16%
3.25%
5.46%
1.18%
N/A
VTEB
1.76%
1.14%
3.38%
5.59%
1.22%
N/A
Key characteristics
| VTEAX | VTEB | |
|---|---|---|
| Sharpe Ratio | 1.78 | 1.44 |
| Sortino Ratio | 2.60 | 2.11 |
| Omega Ratio | 1.41 | 1.28 |
| Calmar Ratio | 0.86 | 0.87 |
| Martin Ratio | 6.65 | 6.08 |
| Ulcer Index | 0.82% | 0.92% |
| Daily Std Dev | 3.06% | 3.88% |
| Max Drawdown | -12.74% | -17.00% |
| Current Drawdown | -1.22% | -1.05% |
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VTEAX vs. VTEB - Expense Ratio Comparison
VTEAX has a 0.09% expense ratio, which is higher than VTEB'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%.
Correlation
The correlation between VTEAX and VTEB is 0.71, 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.
Risk-Adjusted Performance
VTEAX vs. VTEB - 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 Tax-Exempt Bond ETF (VTEB). 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.
Dividends
VTEAX vs. VTEB - Dividend Comparison
VTEAX's dividend yield for the trailing twelve months is around 3.06%, which matches VTEB's 3.09% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.09% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Drawdowns
VTEAX vs. VTEB - Drawdown Comparison
The maximum VTEAX drawdown since its inception was -12.74%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for VTEAX and VTEB. For additional features, visit the drawdowns tool.
Volatility
VTEAX vs. VTEB - Volatility Comparison
The current volatility for Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) is 1.38%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.83%. This indicates that VTEAX experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.