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VWEAX vs. HYD
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Key characteristics


VWEAXHYD
YTD Return6.48%4.86%
1Y Return12.98%11.94%
3Y Return (Ann)2.78%-1.92%
5Y Return (Ann)3.86%-0.07%
10Y Return (Ann)4.52%3.71%
Sharpe Ratio3.442.05
Sortino Ratio5.913.00
Omega Ratio1.901.41
Calmar Ratio3.070.67
Martin Ratio22.4513.62
Ulcer Index0.56%0.82%
Daily Std Dev3.64%5.45%
Max Drawdown-30.03%-35.60%
Current Drawdown-0.20%-6.79%

Correlation

-0.50.00.51.00.2

The correlation between VWEAX and HYD is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Performance

VWEAX vs. HYD - Performance Comparison

In the year-to-date period, VWEAX achieves a 6.48% return, which is significantly higher than HYD's 4.86% return. Over the past 10 years, VWEAX has outperformed HYD with an annualized return of 4.52%, while HYD has yielded a comparatively lower 3.71% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


-2.00%0.00%2.00%4.00%6.00%JuneJulyAugustSeptemberOctoberNovember
5.69%
3.00%
VWEAX
HYD

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VWEAX vs. HYD - Expense Ratio Comparison

VWEAX has a 0.13% expense ratio, which is lower than HYD's 0.35% expense ratio.


HYD
VanEck Vectors High-Yield Municipal Index ETF
Expense ratio chart for HYD: current value at 0.35% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.35%
Expense ratio chart for VWEAX: current value at 0.13% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.13%

Risk-Adjusted Performance

VWEAX vs. HYD - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) 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.


VWEAX
Sharpe ratio
The chart of Sharpe ratio for VWEAX, currently valued at 3.44, compared to the broader market0.002.004.003.44
Sortino ratio
The chart of Sortino ratio for VWEAX, currently valued at 5.91, compared to the broader market0.005.0010.005.91
Omega ratio
The chart of Omega ratio for VWEAX, currently valued at 1.90, compared to the broader market1.002.003.004.001.90
Calmar ratio
The chart of Calmar ratio for VWEAX, currently valued at 3.07, compared to the broader market0.005.0010.0015.0020.0025.003.07
Martin ratio
The chart of Martin ratio for VWEAX, currently valued at 22.45, compared to the broader market0.0020.0040.0060.0080.00100.0022.45
HYD
Sharpe ratio
The chart of Sharpe ratio for HYD, currently valued at 2.05, compared to the broader market0.002.004.002.05
Sortino ratio
The chart of Sortino ratio for HYD, currently valued at 3.00, compared to the broader market0.005.0010.003.00
Omega ratio
The chart of Omega ratio for HYD, currently valued at 1.41, compared to the broader market1.002.003.004.001.41
Calmar ratio
The chart of Calmar ratio for HYD, currently valued at 0.67, compared to the broader market0.005.0010.0015.0020.0025.000.67
Martin ratio
The chart of Martin ratio for HYD, currently valued at 13.62, compared to the broader market0.0020.0040.0060.0080.00100.0013.62

VWEAX vs. HYD - Sharpe Ratio Comparison

The current VWEAX Sharpe Ratio is 3.44, which is higher than the HYD Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of VWEAX and HYD, 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 Ratio0.501.001.502.002.503.003.504.00JuneJulyAugustSeptemberOctoberNovember
3.44
2.05
VWEAX
HYD

Dividends

VWEAX vs. HYD - Dividend Comparison

VWEAX's dividend yield for the trailing twelve months is around 6.08%, more than HYD's 4.24% yield.


TTM20232022202120202019201820172016201520142013
VWEAX
Vanguard High-Yield Corporate Fund Admiral Shares
6.08%5.79%5.20%4.24%4.72%5.32%6.10%5.42%5.49%5.99%5.71%5.89%
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

VWEAX vs. HYD - Drawdown Comparison

The maximum VWEAX drawdown since its inception was -30.03%, smaller than the maximum HYD drawdown of -35.60%. Use the drawdown chart below to compare losses from any high point for VWEAX and HYD. For additional features, visit the drawdowns tool.


-10.00%-8.00%-6.00%-4.00%-2.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-0.20%
-6.79%
VWEAX
HYD

Volatility

VWEAX vs. HYD - Volatility Comparison

The current volatility for Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) is 0.65%, while VanEck Vectors High-Yield Municipal Index ETF (HYD) has a volatility of 2.17%. This indicates that VWEAX 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.


0.50%1.00%1.50%2.00%JuneJulyAugustSeptemberOctoberNovember
0.65%
2.17%
VWEAX
HYD