VTMFX vs. VTEB
Compare and contrast key facts about Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) and Vanguard Tax-Exempt Bond ETF (VTEB).
VTMFX is managed by Blackrock. It was launched on Sep 6, 1994. 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VTMFX or VTEB.
Key characteristics
| VTMFX | VTEB | |
|---|---|---|
| YTD Return | 13.18% | 1.20% |
| 1Y Return | 20.96% | 6.89% |
| 3Y Return (Ann) | 4.78% | -0.25% |
| 5Y Return (Ann) | 8.42% | 1.17% |
| Sharpe Ratio | 3.38 | 1.73 |
| Sortino Ratio | 4.84 | 2.57 |
| Omega Ratio | 1.67 | 1.34 |
| Calmar Ratio | 3.56 | 0.87 |
| Martin Ratio | 21.72 | 7.60 |
| Ulcer Index | 0.96% | 0.90% |
| Daily Std Dev | 6.19% | 3.97% |
| Max Drawdown | -28.49% | -17.00% |
| Current Drawdown | -0.17% | -1.60% |
Correlation
The correlation between VTMFX and VTEB is 0.09, 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
VTMFX vs. VTEB - Performance Comparison
In the year-to-date period, VTMFX achieves a 13.18% return, which is significantly higher than VTEB's 1.20% 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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VTMFX vs. VTEB - Expense Ratio Comparison
VTMFX has a 0.09% expense ratio, which is higher than VTEB's 0.05% expense ratio. However, 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
VTMFX vs. VTEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) and Vanguard Tax-Exempt Bond ETF (VTEB). 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
VTMFX vs. VTEB - Dividend Comparison
VTMFX's dividend yield for the trailing twelve months is around 1.99%, less than VTEB's 3.11% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares | 1.99% | 1.94% | 1.85% | 1.38% | 1.73% | 2.06% | 2.22% | 2.00% | 2.13% | 2.06% | 2.00% | 2.06% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.11% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
VTMFX vs. VTEB - Drawdown Comparison
The maximum VTMFX drawdown since its inception was -28.49%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for VTMFX and VTEB. For additional features, visit the drawdowns tool.
Volatility
VTMFX vs. VTEB - Volatility Comparison
Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) and Vanguard Tax-Exempt Bond ETF (VTEB) have volatilities of 1.96% and 1.98%, 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.