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.
Key characteristics
| VTEAX | VTEB | |
|---|---|---|
| YTD Return | 1.40% | 1.52% |
| 1Y Return | 6.94% | 7.21% |
| 3Y Return (Ann) | -0.27% | -0.14% |
| 5Y Return (Ann) | 1.21% | 1.25% |
| Sharpe Ratio | 2.22 | 1.89 |
| Sortino Ratio | 3.30 | 2.81 |
| Omega Ratio | 1.53 | 1.38 |
| Calmar Ratio | 0.88 | 0.94 |
| Martin Ratio | 8.74 | 8.30 |
| Ulcer Index | 0.80% | 0.90% |
| Daily Std Dev | 3.15% | 3.96% |
| Max Drawdown | -12.74% | -17.00% |
| Current Drawdown | -1.56% | -1.28% |
Correlation
The correlation between VTEAX and VTEB is 0.72, 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. VTEB - Performance Comparison
In the year-to-date period, VTEAX achieves a 1.40% return, which is significantly lower than VTEB's 1.52% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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%.
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 3.07%, which matches VTEB's 3.10% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.10% | 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 1.62%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.96%. 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.