VTES vs. SUB
Compare and contrast key facts about Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) and iShares Short-Term National Muni Bond ETF (SUB).
VTES and SUB 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. SUB is a passively managed fund by iShares that tracks the performance of the ICE Short Maturity AMT-Free US National Municipal Index - Benchmark TR Gross. It was launched on Nov 5, 2008. Both VTES and SUB 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 SUB.
Key characteristics
| VTES | SUB | |
|---|---|---|
| YTD Return | 1.77% | 1.85% |
| 1Y Return | 4.46% | 3.87% |
| Sharpe Ratio | 2.87 | 2.54 |
| Sortino Ratio | 4.45 | 4.02 |
| Omega Ratio | 1.66 | 1.53 |
| Calmar Ratio | 3.75 | 2.50 |
| Martin Ratio | 12.01 | 12.58 |
| Ulcer Index | 0.37% | 0.30% |
| Daily Std Dev | 1.55% | 1.49% |
| Max Drawdown | -2.42% | -9.46% |
| Current Drawdown | -0.34% | -0.50% |
Correlation
The correlation between VTES and SUB is 0.75, 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
VTES vs. SUB - Performance Comparison
The year-to-date returns for both investments are quite close, with VTES having a 1.77% return and SUB slightly higher at 1.85%. 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. SUB - Expense Ratio Comparison
Both VTES and SUB have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
VTES vs. SUB - 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 Short-Term National Muni Bond ETF (SUB). 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. SUB - Dividend Comparison
VTES's dividend yield for the trailing twelve months is around 2.98%, more than SUB's 2.04% 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% |
SUB iShares Short-Term National Muni Bond ETF | 2.04% | 1.73% | 0.86% | 0.72% | 1.23% | 1.59% | 1.32% | 0.94% | 0.75% | 0.77% | 0.76% | 0.84% |
Drawdowns
VTES vs. SUB - Drawdown Comparison
The maximum VTES drawdown since its inception was -2.42%, smaller than the maximum SUB drawdown of -9.46%. Use the drawdown chart below to compare losses from any high point for VTES and SUB. For additional features, visit the drawdowns tool.
Volatility
VTES vs. SUB - Volatility Comparison
Vanguard Short-Term Tax-Exempt Bond ETF Shares (VTES) has a higher volatility of 0.76% compared to iShares Short-Term National Muni Bond ETF (SUB) at 0.67%. This indicates that VTES's price experiences larger fluctuations and is considered to be riskier than SUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.