VWALX vs. VTEB
Compare and contrast key facts about Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and Vanguard Tax-Exempt Bond ETF (VTEB).
VWALX is managed by Vanguard. It was launched on Nov 12, 2001. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VWALX or VTEB.
Key characteristics
| VWALX | VTEB | |
|---|---|---|
| YTD Return | 3.52% | 1.18% |
| 1Y Return | 10.36% | 6.04% |
| 3Y Return (Ann) | -0.29% | -0.25% |
| 5Y Return (Ann) | 1.66% | 1.15% |
| Sharpe Ratio | 2.70 | 1.73 |
| Sortino Ratio | 4.11 | 2.57 |
| Omega Ratio | 1.66 | 1.34 |
| Calmar Ratio | 1.04 | 0.93 |
| Martin Ratio | 13.24 | 7.57 |
| Ulcer Index | 0.86% | 0.91% |
| Daily Std Dev | 4.20% | 3.97% |
| Max Drawdown | -17.74% | -17.00% |
| Current Drawdown | -1.63% | -1.61% |
Correlation
The correlation between VWALX and VTEB is 0.66, 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. VTEB - Performance Comparison
In the year-to-date period, VWALX achieves a 3.52% return, which is significantly higher than VTEB's 1.18% 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. VTEB - Expense Ratio Comparison
VWALX has a 0.09% expense ratio, which is higher than VTEB'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%.
Risk-Adjusted Performance
VWALX vs. VTEB - 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 Vanguard Tax-Exempt Bond ETF (VTEB). 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. VTEB - Dividend Comparison
VWALX's dividend yield for the trailing twelve months is around 3.78%, more than VTEB's 3.11% 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.11% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
VWALX vs. VTEB - Drawdown Comparison
The maximum VWALX drawdown since its inception was -17.74%, roughly equal to the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for VWALX and VTEB. For additional features, visit the drawdowns tool.
Volatility
VWALX vs. VTEB - Volatility Comparison
Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and Vanguard Tax-Exempt Bond ETF (VTEB) have volatilities of 2.01% and 1.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.