VTEL vs. VWLUX
VTEL (Vanguard Long-Term Tax-Exempt Bond ETF) and VWLUX (Vanguard Long-Term Tax-Exempt Fund Admiral Shares) are both Municipal Bonds funds from Vanguard. Over the past year, VTEL returned 6.33% vs 5.84% for VWLUX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.09% expense ratio.
Performance
VTEL vs. VWLUX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with VTEL at 0.42% and VWLUX at 0.42%.
VTEL
- 1D
- 0.08%
- 1M
- -2.36%
- 6M
- -0.09%
- YTD
- 0.42%
- 1Y
- 6.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.85%
VWLUX
- 1D
- -0.09%
- 1M
- -2.29%
- 6M
- -0.26%
- YTD
- 0.42%
- 1Y
- 5.84%
- 3Y*
- 4.01%
- 5Y*
- 0.79%
- 10Y*
- 2.42%
- ALL TIME*
- 3.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.63M | $4.83M | $3.61M | |
| $0.00 | $0.00 | $0.00 |
VTEL vs. VWLUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VTEL Vanguard Long-Term Tax-Exempt Bond ETF | 0.42% | 6.61% |
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares | 0.42% | 6.21% |
Correlation
The correlation between VTEL and VWLUX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (All Time) Calculated using the full available price history since May 22, 2025 | 0.73 |
The correlation between VTEL and VWLUX has been stable across timeframes, ranging from 0.71 to 0.73 - a consistent structural relationship.
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Return for Risk
VTEL vs. VWLUX — Risk / Return Rank
VTEL
VWLUX
VTEL vs. VWLUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VTEL | VWLUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.48 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 2.03 | -0.06 |
| Martin ratioReturn relative to average drawdown | 6.58 | 6.88 | -0.30 |
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Drawdowns
VTEL vs. VWLUX - Drawdown Comparison
The maximum VTEL drawdown since its inception was -3.22%, smaller than the maximum VWLUX drawdown of -15.94%. Use the drawdown chart below to compare losses from any high point for VTEL and VWLUX.
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Drawdown Indicators
| VTEL | VWLUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.22% | -15.94% | +12.72% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -3.09% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.76% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.94% | — |
Current DrawdownCurrent decline from peak | -2.49% | -2.29% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -0.62% | -2.08% | +1.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.91% | +0.05% |
Volatility
VTEL vs. VWLUX - Volatility Comparison
Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) has a higher volatility of 1.18% compared to Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) at 1.01%. This indicates that VTEL's price experiences larger fluctuations and is considered to be riskier than VWLUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTEL | VWLUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.01% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 2.55% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 3.17% | +0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.77% | 4.63% | -0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 4.51% | -0.74% |
VTEL vs. VWLUX - Expense Ratio Comparison
Both VTEL and VWLUX have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VTEL vs. VWLUX - Dividend Comparison
VTEL's dividend yield for the trailing twelve months is around 3.83%, more than VWLUX's 3.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTEL Vanguard Long-Term Tax-Exempt Bond ETF | 3.83% | 2.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares | 3.54% | 4.61% | 4.08% | 3.17% | 3.00% | 2.70% | 3.32% | 3.91% | 3.58% | 3.80% | 4.09% | 3.87% |
Frequently Asked Questions
VTEL and VWLUX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTEL has higher volatility (1.18%) compared to VWLUX (1.01%). In terms of maximum drawdown, VTEL dropped -3.22% vs VWLUX's -15.94%.
VWLUX currently has the higher Sharpe Ratio (2.01 vs 1.73), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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