VTES vs. ACWI
Compare and contrast key facts about Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) and iShares MSCI ACWI ETF (ACWI).
VTES and ACWI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VTES is a passively managed fund by Vanguard that tracks the performance of the S&P 0-7 Yr National AMT-Free Municipal Bond Index - Benchmark TR Gross. It was launched on Mar 8, 2023. ACWI is a passively managed fund by iShares that tracks the performance of the MSCI All Country World Index. It was launched on Mar 26, 2008. Both VTES and ACWI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VTES or ACWI.
Key characteristics
| VTES | ACWI | |
|---|---|---|
| YTD Return | 1.77% | 20.19% |
| 1Y Return | 4.46% | 32.43% |
| Sharpe Ratio | 2.87 | 2.70 |
| Sortino Ratio | 4.45 | 3.68 |
| Omega Ratio | 1.66 | 1.49 |
| Calmar Ratio | 3.75 | 3.19 |
| Martin Ratio | 12.01 | 17.70 |
| Ulcer Index | 0.37% | 1.79% |
| Daily Std Dev | 1.55% | 11.72% |
| Max Drawdown | -2.42% | -56.00% |
| Current Drawdown | -0.34% | -0.26% |
Correlation
The correlation between VTES and ACWI is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
VTES vs. ACWI - Performance Comparison
In the year-to-date period, VTES achieves a 1.77% return, which is significantly lower than ACWI's 20.19% 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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VTES vs. ACWI - Expense Ratio Comparison
VTES has a 0.07% expense ratio, which is lower than ACWI's 0.32% expense ratio.
Risk-Adjusted Performance
VTES vs. ACWI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) and iShares MSCI ACWI ETF (ACWI). 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
VTES vs. ACWI - Dividend Comparison
VTES's dividend yield for the trailing twelve months is around 2.98%, more than ACWI's 1.56% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTES Vanguard Short-Term Tax-Exempt Bond ETF Shares | 2.98% | 2.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ACWI iShares MSCI ACWI ETF | 1.56% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.25% | 1.94% | 2.19% | 2.56% | 2.26% | 1.89% |
Drawdowns
VTES vs. ACWI - Drawdown Comparison
The maximum VTES drawdown since its inception was -2.42%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for VTES and ACWI. For additional features, visit the drawdowns tool.
Volatility
VTES vs. ACWI - Volatility Comparison
The current volatility for Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) is 0.76%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 3.29%. This indicates that VTES experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.