VTEB vs. VWAHX
Compare and contrast key facts about Vanguard Tax-Exempt Bond ETF (VTEB) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
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. VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VTEB or VWAHX.
Key characteristics
| VTEB | VWAHX | |
|---|---|---|
| YTD Return | 1.58% | 3.54% |
| 1Y Return | 6.31% | 10.05% |
| 3Y Return (Ann) | -0.09% | -0.31% |
| 5Y Return (Ann) | 1.23% | 1.60% |
| Sharpe Ratio | 1.70 | 2.53 |
| Sortino Ratio | 2.48 | 3.78 |
| Omega Ratio | 1.33 | 1.60 |
| Calmar Ratio | 0.93 | 0.97 |
| Martin Ratio | 7.24 | 11.95 |
| Ulcer Index | 0.91% | 0.87% |
| Daily Std Dev | 3.90% | 4.11% |
| Max Drawdown | -17.00% | -17.82% |
| Current Drawdown | -1.22% | -1.77% |
Correlation
The correlation between VTEB and VWAHX is 0.66, 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.
Performance
VTEB vs. VWAHX - Performance Comparison
In the year-to-date period, VTEB achieves a 1.58% return, which is significantly lower than VWAHX's 3.54% 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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VTEB vs. VWAHX - Expense Ratio Comparison
VTEB has a 0.05% expense ratio, which is lower than VWAHX's 0.17% 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%.
Risk-Adjusted Performance
VTEB vs. VWAHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Exempt Bond ETF (VTEB) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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
VTEB vs. VWAHX - Dividend Comparison
VTEB's dividend yield for the trailing twelve months is around 3.09%, less than VWAHX's 3.70% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 3.70% | 3.53% | 3.37% | 2.86% | 3.09% | 3.36% | 3.79% | 3.69% | 3.75% | 3.69% | 3.78% | 4.12% |
Drawdowns
VTEB vs. VWAHX - Drawdown Comparison
The maximum VTEB drawdown since its inception was -17.00%, roughly equal to the maximum VWAHX drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for VTEB and VWAHX. For additional features, visit the drawdowns tool.
Volatility
VTEB vs. VWAHX - Volatility Comparison
Vanguard Tax-Exempt Bond ETF (VTEB) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) have volatilities of 1.97% and 2.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.