VWAHX vs. VBTLX
Compare and contrast key facts about Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX).
VWAHX is managed by Vanguard. It was launched on Dec 27, 1978. VBTLX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
VWAHX vs. VBTLX - Performance Comparison
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VWAHX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | -0.27% | 4.96% | 3.98% | 8.39% | -11.76% | 3.36% | 5.39% | 9.48% | 1.31% | 7.86% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | -0.28% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Returns By Period
The year-to-date returns for both stocks are quite close, with VWAHX having a -0.27% return and VBTLX slightly lower at -0.28%. Over the past 10 years, VWAHX has outperformed VBTLX with an annualized return of 2.99%, while VBTLX has yielded a comparatively lower 1.62% annualized return.
VWAHX
- 1D
- 0.38%
- 1M
- -2.23%
- YTD
- -0.27%
- 6M
- 1.32%
- 1Y
- 3.98%
- 3Y*
- 4.54%
- 5Y*
- 1.48%
- 10Y*
- 2.99%
VBTLX
- 1D
- 0.21%
- 1M
- -1.63%
- YTD
- -0.28%
- 6M
- 0.40%
- 1Y
- 3.66%
- 3Y*
- 3.51%
- 5Y*
- 0.19%
- 10Y*
- 1.62%
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VWAHX vs. VBTLX - Expense Ratio Comparison
VWAHX has a 0.17% expense ratio, which is higher than VBTLX'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%.
Return for Risk
VWAHX vs. VBTLX — Risk / Return Rank
VWAHX
VBTLX
VWAHX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
| VWAHX | VBTLX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.78 | 0.92 | -0.14 |
Sortino ratioReturn per unit of downside risk | 1.06 | 1.33 | -0.27 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.16 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 1.66 | -0.71 |
Martin ratioReturn relative to average drawdown | 2.94 | 4.70 | -1.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VWAHX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 0.92 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.03 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 0.33 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.76 | -0.12 |
Correlation
The correlation between VWAHX and VBTLX is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
VWAHX vs. VBTLX - Dividend Comparison
VWAHX's dividend yield for the trailing twelve months is around 4.06%, more than VBTLX's 3.61% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 4.06% | 4.95% | 4.38% | 3.53% | 3.36% | 2.98% | 3.31% | 3.94% | 3.78% | 3.68% | 3.75% | 3.67% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.61% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Drawdowns
VWAHX vs. VBTLX - Drawdown Comparison
The maximum VWAHX drawdown since its inception was -40.26%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VWAHX and VBTLX.
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Drawdown Indicators
| VWAHX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.26% | -18.81% | -21.45% |
Max Drawdown (1Y)Largest decline over 1 year | -5.63% | -2.73% | -2.90% |
Max Drawdown (5Y)Largest decline over 5 years | -17.32% | -18.14% | +0.82% |
Max Drawdown (10Y)Largest decline over 10 years | -17.32% | -18.81% | +1.49% |
Current DrawdownCurrent decline from peak | -2.50% | -2.86% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -6.95% | -2.67% | -4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 0.97% | +0.85% |
Volatility
VWAHX vs. VBTLX - Volatility Comparison
The current volatility for Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) is 1.29%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.55%. This indicates that VWAHX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWAHX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.55% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 2.59% | -0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.70% | 4.36% | +1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.75% | 5.98% | -1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.61% | 4.97% | -0.36% |