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VWAHX vs. FTABX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between VWAHX and FTABX is -0.10. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


Performance

VWAHX vs. FTABX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) and Fidelity Tax-Free Bond Fund (FTABX). The values are adjusted to include any dividend payments, if applicable.

150.00%155.00%160.00%165.00%170.00%175.00%December2025FebruaryMarchAprilMay
165.14%
155.74%
VWAHX
FTABX

Key characteristics

Sharpe Ratio

VWAHX:

0.28

FTABX:

0.16

Sortino Ratio

VWAHX:

0.40

FTABX:

0.24

Omega Ratio

VWAHX:

1.07

FTABX:

1.04

Calmar Ratio

VWAHX:

0.27

FTABX:

0.14

Martin Ratio

VWAHX:

0.95

FTABX:

0.53

Ulcer Index

VWAHX:

1.85%

FTABX:

1.62%

Daily Std Dev

VWAHX:

6.22%

FTABX:

5.39%

Max Drawdown

VWAHX:

-17.82%

FTABX:

-15.78%

Current Drawdown

VWAHX:

-3.91%

FTABX:

-3.78%

Returns By Period

In the year-to-date period, VWAHX achieves a -1.97% return, which is significantly lower than FTABX's -1.44% return. Over the past 10 years, VWAHX has outperformed FTABX with an annualized return of 2.74%, while FTABX has yielded a comparatively lower 2.15% annualized return.


VWAHX

YTD

-1.97%

1M

-2.91%

6M

-2.08%

1Y

1.08%

5Y*

1.98%

10Y*

2.74%

FTABX

YTD

-1.44%

1M

-2.37%

6M

-1.48%

1Y

0.85%

5Y*

1.50%

10Y*

2.15%

*Annualized

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VWAHX vs. FTABX - Expense Ratio Comparison

VWAHX has a 0.17% expense ratio, which is lower than FTABX's 0.25% expense ratio. Despite the difference, 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

VWAHX vs. FTABX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VWAHX
The Risk-Adjusted Performance Rank of VWAHX is 3232
Overall Rank
The Sharpe Ratio Rank of VWAHX is 3131
Sharpe Ratio Rank
The Sortino Ratio Rank of VWAHX is 2828
Sortino Ratio Rank
The Omega Ratio Rank of VWAHX is 3131
Omega Ratio Rank
The Calmar Ratio Rank of VWAHX is 3737
Calmar Ratio Rank
The Martin Ratio Rank of VWAHX is 3434
Martin Ratio Rank

FTABX
The Risk-Adjusted Performance Rank of FTABX is 2424
Overall Rank
The Sharpe Ratio Rank of FTABX is 2525
Sharpe Ratio Rank
The Sortino Ratio Rank of FTABX is 2121
Sortino Ratio Rank
The Omega Ratio Rank of FTABX is 2222
Omega Ratio Rank
The Calmar Ratio Rank of FTABX is 2727
Calmar Ratio Rank
The Martin Ratio Rank of FTABX is 2626
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

VWAHX vs. FTABX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) and Fidelity Tax-Free Bond Fund (FTABX). 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.


The current VWAHX Sharpe Ratio is 0.28, which is higher than the FTABX Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of VWAHX and FTABX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.000.501.001.502.002.50December2025FebruaryMarchAprilMay
0.17
0.16
VWAHX
FTABX

Dividends

VWAHX vs. FTABX - Dividend Comparison

VWAHX's dividend yield for the trailing twelve months is around 3.57%, more than FTABX's 2.87% yield.


TTM20242023202220212020201920182017201620152014
VWAHX
Vanguard High-Yield Tax-Exempt Fund Investor Shares
3.57%3.75%3.53%3.37%2.86%3.09%3.36%3.79%3.69%3.75%3.69%3.78%
FTABX
Fidelity Tax-Free Bond Fund
2.87%3.05%2.90%2.86%2.68%2.97%2.94%3.21%3.49%3.92%3.58%3.62%

Drawdowns

VWAHX vs. FTABX - Drawdown Comparison

The maximum VWAHX drawdown since its inception was -17.82%, which is greater than FTABX's maximum drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for VWAHX and FTABX. For additional features, visit the drawdowns tool.


-7.00%-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%December2025FebruaryMarchAprilMay
-3.91%
-3.78%
VWAHX
FTABX

Volatility

VWAHX vs. FTABX - Volatility Comparison

Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a higher volatility of 4.72% compared to Fidelity Tax-Free Bond Fund (FTABX) at 3.99%. This indicates that VWAHX's price experiences larger fluctuations and is considered to be riskier than FTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


1.00%2.00%3.00%4.00%5.00%December2025FebruaryMarchAprilMay
4.72%
3.99%
VWAHX
FTABX