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

Correlation

The correlation between VWAHX and VTEAX is -0.04. 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.


-0.50.00.51.0
Correlation: -0.0

Performance

VWAHX vs. VTEAX - 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 Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX). The values are adjusted to include any dividend payments, if applicable.

20.00%25.00%30.00%35.00%NovemberDecember2025FebruaryMarchApril
30.55%
20.40%
VWAHX
VTEAX

Key characteristics

Sharpe Ratio

VWAHX:

0.18

VTEAX:

0.11

Sortino Ratio

VWAHX:

0.27

VTEAX:

0.18

Omega Ratio

VWAHX:

1.05

VTEAX:

1.03

Calmar Ratio

VWAHX:

0.17

VTEAX:

0.10

Martin Ratio

VWAHX:

0.64

VTEAX:

0.40

Ulcer Index

VWAHX:

1.72%

VTEAX:

1.39%

Daily Std Dev

VWAHX:

6.21%

VTEAX:

4.95%

Max Drawdown

VWAHX:

-17.32%

VTEAX:

-12.74%

Current Drawdown

VWAHX:

-4.65%

VTEAX:

-3.63%

Returns By Period

In the year-to-date period, VWAHX achieves a -2.73% return, which is significantly lower than VTEAX's -2.06% return.


VWAHX

YTD

-2.73%

1M

-2.43%

6M

-1.99%

1Y

1.19%

5Y*

2.04%

10Y*

2.71%

VTEAX

YTD

-2.06%

1M

-1.65%

6M

-1.35%

1Y

0.60%

5Y*

0.84%

10Y*

N/A

*Annualized

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VWAHX vs. VTEAX - Expense Ratio Comparison

VWAHX has a 0.17% expense ratio, which is higher than VTEAX's 0.09% 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%.


Expense ratio chart for VWAHX: current value is 0.17%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VWAHX: 0.17%
Expense ratio chart for VTEAX: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VTEAX: 0.09%

Risk-Adjusted Performance

VWAHX vs. VTEAX — 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 3636
Overall Rank
The Sharpe Ratio Rank of VWAHX is 3636
Sharpe Ratio Rank
The Sortino Ratio Rank of VWAHX is 3232
Sortino Ratio Rank
The Omega Ratio Rank of VWAHX is 3535
Omega Ratio Rank
The Calmar Ratio Rank of VWAHX is 3939
Calmar Ratio Rank
The Martin Ratio Rank of VWAHX is 3737
Martin Ratio Rank

VTEAX
The Risk-Adjusted Performance Rank of VTEAX is 3131
Overall Rank
The Sharpe Ratio Rank of VTEAX is 3232
Sharpe Ratio Rank
The Sortino Ratio Rank of VTEAX is 2828
Sortino Ratio Rank
The Omega Ratio Rank of VTEAX is 3030
Omega Ratio Rank
The Calmar Ratio Rank of VTEAX is 3434
Calmar Ratio Rank
The Martin Ratio Rank of VTEAX is 3333
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. VTEAX - 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 Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX). 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 chart of Sharpe ratio for VWAHX, currently valued at 0.18, compared to the broader market-1.000.001.002.003.00
VWAHX: 0.18
VTEAX: 0.11
The chart of Sortino ratio for VWAHX, currently valued at 0.27, compared to the broader market-2.000.002.004.006.008.00
VWAHX: 0.27
VTEAX: 0.18
The chart of Omega ratio for VWAHX, currently valued at 1.05, compared to the broader market0.501.001.502.002.503.00
VWAHX: 1.05
VTEAX: 1.03
The chart of Calmar ratio for VWAHX, currently valued at 0.17, compared to the broader market0.002.004.006.008.0010.00
VWAHX: 0.17
VTEAX: 0.10
The chart of Martin ratio for VWAHX, currently valued at 0.64, compared to the broader market0.0010.0020.0030.0040.0050.00
VWAHX: 0.64
VTEAX: 0.40

The current VWAHX Sharpe Ratio is 0.18, which is higher than the VTEAX Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of VWAHX and VTEAX, 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 Ratio0.001.002.003.00NovemberDecember2025FebruaryMarchApril
0.18
0.11
VWAHX
VTEAX

Dividends

VWAHX vs. VTEAX - Dividend Comparison

VWAHX's dividend yield for the trailing twelve months is around 3.93%, more than VTEAX's 3.23% yield.


TTM20242023202220212020201920182017201620152014
VWAHX
Vanguard High-Yield Tax-Exempt Fund Investor Shares
3.93%3.74%3.51%3.36%3.47%3.32%3.67%3.77%3.67%3.75%3.69%3.78%
VTEAX
Vanguard Tax-Exempt Bond Index Fund Admiral Shares
3.23%3.11%2.75%2.06%1.61%1.97%2.28%2.24%1.95%1.67%0.59%0.00%

Drawdowns

VWAHX vs. VTEAX - Drawdown Comparison

The maximum VWAHX drawdown since its inception was -17.32%, which is greater than VTEAX's maximum drawdown of -12.74%. Use the drawdown chart below to compare losses from any high point for VWAHX and VTEAX. For additional features, visit the drawdowns tool.


-7.00%-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%NovemberDecember2025FebruaryMarchApril
-4.65%
-3.63%
VWAHX
VTEAX

Volatility

VWAHX vs. VTEAX - Volatility Comparison

Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a higher volatility of 4.85% compared to Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) at 3.88%. This indicates that VWAHX's price experiences larger fluctuations and is considered to be riskier than VTEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%1.00%2.00%3.00%4.00%5.00%NovemberDecember2025FebruaryMarchApril
4.85%
3.88%
VWAHX
VTEAX