VWALX vs. HYD
Compare and contrast key facts about Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
VWALX is managed by Vanguard. It was launched on Nov 12, 2001. HYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. It was launched on Feb 4, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VWALX or HYD.
Key characteristics
| VWALX | HYD | |
|---|---|---|
| YTD Return | 3.42% | 4.92% |
| 1Y Return | 11.14% | 11.59% |
| 3Y Return (Ann) | -0.32% | -1.87% |
| 5Y Return (Ann) | 1.68% | -0.08% |
| 10Y Return (Ann) | 3.21% | 3.66% |
| Sharpe Ratio | 2.65 | 2.22 |
| Sortino Ratio | 4.04 | 3.25 |
| Omega Ratio | 1.64 | 1.45 |
| Calmar Ratio | 0.96 | 0.73 |
| Martin Ratio | 13.16 | 14.53 |
| Ulcer Index | 0.85% | 0.83% |
| Daily Std Dev | 4.21% | 5.41% |
| Max Drawdown | -17.74% | -35.60% |
| Current Drawdown | -1.72% | -6.73% |
Correlation
The correlation between VWALX and HYD is 0.43, 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.
Performance
VWALX vs. HYD - Performance Comparison
In the year-to-date period, VWALX achieves a 3.42% return, which is significantly lower than HYD's 4.92% return. Over the past 10 years, VWALX has underperformed HYD with an annualized return of 3.21%, while HYD has yielded a comparatively higher 3.66% annualized 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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VWALX vs. HYD - Expense Ratio Comparison
VWALX has a 0.09% expense ratio, which is lower than HYD's 0.35% expense ratio.
Risk-Adjusted Performance
VWALX vs. HYD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and VanEck Vectors High-Yield Municipal Index ETF (HYD). 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
VWALX vs. HYD - Dividend Comparison
VWALX's dividend yield for the trailing twelve months is around 3.78%, less than HYD's 4.24% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 3.78% | 3.59% | 3.44% | 2.93% | 3.16% | 3.44% | 3.84% | 3.77% | 3.88% | 3.75% | 3.83% | 4.19% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.24% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 14.47% | 4.29% | 4.58% | 4.83% | 4.98% | 6.34% |
Drawdowns
VWALX vs. HYD - Drawdown Comparison
The maximum VWALX drawdown since its inception was -17.74%, smaller than the maximum HYD drawdown of -35.60%. Use the drawdown chart below to compare losses from any high point for VWALX and HYD. For additional features, visit the drawdowns tool.
Volatility
VWALX vs. HYD - Volatility Comparison
The current volatility for Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) is 2.02%, while VanEck Vectors High-Yield Municipal Index ETF (HYD) has a volatility of 2.16%. This indicates that VWALX experiences smaller price fluctuations and is considered to be less risky than HYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.