VTEI vs. MDXBX
Compare and contrast key facts about Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) and T. Rowe Price Maryland Tax Free Bond Fund (MDXBX).
VTEI is a passively managed fund by Vanguard that tracks the performance of the S&P Intermediate Term National AMT-Free Municipal Bond Index. It was launched on Jan 29, 2024. MDXBX is managed by T. Rowe Price. It was launched on Mar 30, 1987.
Performance
VTEI vs. MDXBX - Performance Comparison
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VTEI vs. MDXBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF | -0.38% | 4.59% | 1.55% |
MDXBX T. Rowe Price Maryland Tax Free Bond Fund | -0.05% | 6.50% | 3.65% |
Returns By Period
In the year-to-date period, VTEI achieves a -0.38% return, which is significantly lower than MDXBX's -0.05% return.
VTEI
- 1D
- 0.15%
- 1M
- -2.32%
- YTD
- -0.38%
- 6M
- 1.16%
- 1Y
- 4.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MDXBX
- 1D
- 0.20%
- 1M
- -2.64%
- YTD
- -0.05%
- 6M
- 2.67%
- 1Y
- 7.06%
- 3Y*
- 4.44%
- 5Y*
- 1.62%
- 10Y*
- 2.40%
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VTEI vs. MDXBX - Expense Ratio Comparison
VTEI has a 0.08% expense ratio, which is lower than MDXBX's 0.49% expense ratio.
Return for Risk
VTEI vs. MDXBX — Risk / Return Rank
VTEI
MDXBX
VTEI vs. MDXBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) and T. Rowe Price Maryland Tax Free Bond Fund (MDXBX). 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.
| VTEI | MDXBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.25 | 1.46 | -0.20 |
Sortino ratioReturn per unit of downside risk | 1.58 | 1.96 | -0.39 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.40 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.58 | -0.24 |
Martin ratioReturn relative to average drawdown | 4.44 | 5.62 | -1.18 |
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
| VTEI | MDXBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.46 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.38 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 1.18 | -0.32 |
Correlation
The correlation between VTEI and MDXBX is 0.68, 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
VTEI vs. MDXBX - Dividend Comparison
VTEI's dividend yield for the trailing twelve months is around 3.05%, less than MDXBX's 6.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF | 3.05% | 3.00% | 2.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MDXBX T. Rowe Price Maryland Tax Free Bond Fund | 6.49% | 6.08% | 3.28% | 3.51% | 2.40% | 2.30% | 2.65% | 2.82% | 3.17% | 3.28% | 3.42% | 3.61% |
Drawdowns
VTEI vs. MDXBX - Drawdown Comparison
The maximum VTEI drawdown since its inception was -3.64%, smaller than the maximum MDXBX drawdown of -15.38%. Use the drawdown chart below to compare losses from any high point for VTEI and MDXBX.
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Drawdown Indicators
| VTEI | MDXBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.64% | -15.38% | +11.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -5.07% | +1.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.97% | — |
Current DrawdownCurrent decline from peak | -2.32% | -2.64% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -0.73% | -2.15% | +1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.42% | -0.42% |
Volatility
VTEI vs. MDXBX - Volatility Comparison
Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) and T. Rowe Price Maryland Tax Free Bond Fund (MDXBX) have volatilities of 1.17% and 1.16%, 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.
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Volatility by Period
| VTEI | MDXBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.16% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.53% | 1.97% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 5.31% | -1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.09% | 4.27% | -1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.09% | 3.90% | -0.81% |