VWETX vs. HYD
Compare and contrast key facts about Vanguard Long-Term Investment-Grade Fund Admiral Shares (VWETX) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
VWETX is managed by Vanguard. It was launched on Feb 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.
Performance
VWETX vs. HYD - Performance Comparison
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VWETX vs. HYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWETX Vanguard Long-Term Investment-Grade Fund Admiral Shares | -0.99% | 7.31% | -2.70% | 8.92% | -25.54% | -2.79% | 15.50% | 20.56% | -6.17% | 12.08% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 0.04% | 2.83% | 4.94% | 6.52% | -15.97% | 5.05% | 0.17% | 9.34% | 2.19% | 9.78% |
Returns By Period
In the year-to-date period, VWETX achieves a -0.99% return, which is significantly lower than HYD's 0.04% return. Over the past 10 years, VWETX has underperformed HYD with an annualized return of 1.85%, while HYD has yielded a comparatively higher 2.09% annualized return.
VWETX
- 1D
- 0.27%
- 1M
- -2.71%
- YTD
- -0.99%
- 6M
- -1.79%
- 1Y
- 2.73%
- 3Y*
- 2.13%
- 5Y*
- -2.22%
- 10Y*
- 1.85%
HYD
- 1D
- 0.39%
- 1M
- -0.26%
- YTD
- 0.04%
- 6M
- 1.89%
- 1Y
- 3.42%
- 3Y*
- 3.69%
- 5Y*
- -0.03%
- 10Y*
- 2.09%
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VWETX vs. HYD - Expense Ratio Comparison
VWETX has a 0.12% expense ratio, which is lower than HYD's 0.35% expense ratio.
Return for Risk
VWETX vs. HYD — Risk / Return Rank
VWETX
HYD
VWETX vs. HYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Investment-Grade Fund Admiral Shares (VWETX) 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.
| VWETX | HYD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.32 | 0.58 | -0.26 |
Sortino ratioReturn per unit of downside risk | 0.49 | 0.74 | -0.25 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.14 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.63 | 0.70 | -0.07 |
Martin ratioReturn relative to average drawdown | 1.51 | 1.69 | -0.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VWETX | HYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.58 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.18 | -0.01 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.17 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.44 | +0.04 |
Correlation
The correlation between VWETX and HYD is 0.42, 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.
Dividends
VWETX vs. HYD - Dividend Comparison
VWETX's dividend yield for the trailing twelve months is around 4.74%, more than HYD's 4.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWETX Vanguard Long-Term Investment-Grade Fund Admiral Shares | 4.74% | 5.06% | 5.10% | 4.26% | 4.54% | 4.86% | 6.99% | 5.11% | 4.40% | 5.60% | 6.25% | 7.49% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.36% | 4.29% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 4.43% | 4.29% | 4.58% | 4.82% |
Drawdowns
VWETX vs. HYD - Drawdown Comparison
The maximum VWETX drawdown since its inception was -36.04%, roughly equal to the maximum HYD drawdown of -35.61%. Use the drawdown chart below to compare losses from any high point for VWETX and HYD.
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Drawdown Indicators
| VWETX | HYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.04% | -35.61% | -0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -5.44% | -4.42% | -1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -34.42% | -20.72% | -13.70% |
Max Drawdown (10Y)Largest decline over 10 years | -36.04% | -35.61% | -0.43% |
Current DrawdownCurrent decline from peak | -20.04% | -4.03% | -16.01% |
Average DrawdownAverage peak-to-trough decline | -7.12% | -4.34% | -2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 1.83% | +0.43% |
Volatility
VWETX vs. HYD - Volatility Comparison
Vanguard Long-Term Investment-Grade Fund Admiral Shares (VWETX) has a higher volatility of 3.44% compared to VanEck Vectors High-Yield Municipal Index ETF (HYD) at 2.26%. This indicates that VWETX's price experiences larger fluctuations and is considered to be riskier than HYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWETX | HYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 2.26% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 5.30% | 2.86% | +2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.94% | 5.89% | +3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.08% | 6.44% | +5.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.85% | 12.60% | -1.75% |