Correlation
The correlation between VWAHX and MISHX is -0.02. 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.
VWAHX vs. MISHX
Compare and contrast key facts about Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) and AB Municipal Income Shares (MISHX).
VWAHX is managed by Vanguard. It was launched on Dec 27, 1978. MISHX is managed by AllianceBernstein. It was launched on Aug 31, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VWAHX or MISHX.
Performance
VWAHX vs. MISHX - Performance Comparison
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Key characteristics
VWAHX:
0.15
MISHX:
0.52
VWAHX:
0.13
MISHX:
0.61
VWAHX:
1.02
MISHX:
1.10
VWAHX:
0.07
MISHX:
0.42
VWAHX:
0.22
MISHX:
1.53
VWAHX:
2.03%
MISHX:
1.74%
VWAHX:
6.25%
MISHX:
6.21%
VWAHX:
-17.31%
MISHX:
-19.03%
VWAHX:
-4.33%
MISHX:
-3.41%
Returns By Period
In the year-to-date period, VWAHX achieves a -2.40% return, which is significantly lower than MISHX's -1.36% return. Over the past 10 years, VWAHX has underperformed MISHX with an annualized return of 2.86%, while MISHX has yielded a comparatively higher 3.64% annualized return.
VWAHX
-2.40%
0.34%
-2.78%
1.02%
2.83%
1.69%
2.86%
MISHX
-1.36%
0.39%
-1.68%
3.23%
3.65%
3.66%
3.64%
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VWAHX vs. MISHX - Expense Ratio Comparison
VWAHX has a 0.17% expense ratio, which is higher than MISHX's 0.00% 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
VWAHX vs. MISHX — Risk-Adjusted Performance Rank
VWAHX
MISHX
VWAHX vs. MISHX - 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 AB Municipal Income Shares (MISHX). 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.
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Dividends
VWAHX vs. MISHX - Dividend Comparison
VWAHX's dividend yield for the trailing twelve months is around 3.94%, less than MISHX's 4.60% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 3.94% | 3.75% | 3.53% | 3.37% | 3.48% | 3.32% | 3.68% | 3.79% | 3.69% | 3.75% | 3.69% | 3.78% |
MISHX AB Municipal Income Shares | 4.60% | 4.38% | 4.31% | 4.12% | 3.33% | 3.59% | 3.67% | 3.96% | 3.78% | 4.14% | 0.37% | 3.97% |
Drawdowns
VWAHX vs. MISHX - Drawdown Comparison
The maximum VWAHX drawdown since its inception was -17.31%, smaller than the maximum MISHX drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for VWAHX and MISHX.
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Volatility
VWAHX vs. MISHX - Volatility Comparison
The current volatility for Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) is 1.13%, while AB Municipal Income Shares (MISHX) has a volatility of 1.28%. This indicates that VWAHX experiences smaller price fluctuations and is considered to be less risky than MISHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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