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

Correlation

The correlation between VWEHX and VWAHX is 0.02, 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

VWEHX vs. VWAHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

VWEHX:

2.27

VWAHX:

0.11

Sortino Ratio

VWEHX:

3.49

VWAHX:

0.22

Omega Ratio

VWEHX:

1.56

VWAHX:

1.04

Calmar Ratio

VWEHX:

3.00

VWAHX:

0.13

Martin Ratio

VWEHX:

12.11

VWAHX:

0.44

Ulcer Index

VWEHX:

0.64%

VWAHX:

1.93%

Daily Std Dev

VWEHX:

3.46%

VWAHX:

6.23%

Max Drawdown

VWEHX:

-30.17%

VWAHX:

-17.82%

Current Drawdown

VWEHX:

-0.18%

VWAHX:

-3.77%

Returns By Period

In the year-to-date period, VWEHX achieves a 2.10% return, which is significantly higher than VWAHX's -1.83% return. Over the past 10 years, VWEHX has outperformed VWAHX with an annualized return of 4.45%, while VWAHX has yielded a comparatively lower 2.80% annualized return.


VWEHX

YTD

2.10%

1M

2.06%

6M

2.40%

1Y

7.80%

5Y*

5.49%

10Y*

4.45%

VWAHX

YTD

-1.83%

1M

1.32%

6M

-1.94%

1Y

0.66%

5Y*

1.86%

10Y*

2.80%

*Annualized

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VWEHX vs. VWAHX - Expense Ratio Comparison

VWEHX has a 0.23% expense ratio, which is higher than VWAHX's 0.17% 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

VWEHX vs. VWAHX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VWEHX
The Risk-Adjusted Performance Rank of VWEHX is 9595
Overall Rank
The Sharpe Ratio Rank of VWEHX is 9494
Sharpe Ratio Rank
The Sortino Ratio Rank of VWEHX is 9595
Sortino Ratio Rank
The Omega Ratio Rank of VWEHX is 9494
Omega Ratio Rank
The Calmar Ratio Rank of VWEHX is 9595
Calmar Ratio Rank
The Martin Ratio Rank of VWEHX is 9595
Martin Ratio Rank

VWAHX
The Risk-Adjusted Performance Rank of VWAHX is 2525
Overall Rank
The Sharpe Ratio Rank of VWAHX is 2424
Sharpe Ratio Rank
The Sortino Ratio Rank of VWAHX is 2222
Sortino Ratio Rank
The Omega Ratio Rank of VWAHX is 2424
Omega Ratio Rank
The Calmar Ratio Rank of VWAHX is 2828
Calmar Ratio Rank
The Martin Ratio Rank of VWAHX is 2727
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.

VWEHX vs. VWAHX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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 current VWEHX Sharpe Ratio is 2.27, which is higher than the VWAHX Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of VWEHX and VWAHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Dividends

VWEHX vs. VWAHX - Dividend Comparison

VWEHX's dividend yield for the trailing twelve months is around 6.16%, more than VWAHX's 3.92% yield.


TTM20242023202220212020201920182017201620152014
VWEHX
Vanguard High-Yield Corporate Fund Investor Shares
6.16%6.09%5.69%5.11%4.13%4.62%5.24%5.93%5.28%5.43%5.91%5.59%
VWAHX
Vanguard High-Yield Tax-Exempt Fund Investor Shares
3.92%3.75%3.53%3.37%2.86%3.09%3.36%3.79%3.69%3.75%3.69%3.78%

Drawdowns

VWEHX vs. VWAHX - Drawdown Comparison

The maximum VWEHX drawdown since its inception was -30.17%, which is greater than VWAHX's maximum drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for VWEHX and VWAHX. For additional features, visit the drawdowns tool.


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Volatility

VWEHX vs. VWAHX - Volatility Comparison

The current volatility for Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) is 1.19%, while Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a volatility of 1.44%. This indicates that VWEHX experiences smaller price fluctuations and is considered to be less risky than VWAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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