VWITX vs. BIAEX
Compare and contrast key facts about Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) and Brown Advisory Tax Exempt Bond Fund (BIAEX).
VWITX is managed by Vanguard. It was launched on Sep 1, 1977. BIAEX is managed by Brown Advisory Funds. It was launched on Jun 28, 2012.
Performance
VWITX vs. BIAEX - Performance Comparison
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VWITX vs. BIAEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | -0.48% | 5.89% | 2.23% | 5.82% | -6.90% | 0.74% | 5.14% | 7.01% | 1.26% | 4.54% |
BIAEX Brown Advisory Tax Exempt Bond Fund | -0.48% | 5.50% | 2.08% | 6.43% | -9.75% | 2.39% | 3.65% | 7.48% | 2.19% | 4.12% |
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with VWITX at -0.48% and BIAEX at -0.48%. Over the past 10 years, VWITX has outperformed BIAEX with an annualized return of 2.29%, while BIAEX has yielded a comparatively lower 1.97% annualized return.
VWITX
- 1D
- 0.22%
- 1M
- -2.36%
- YTD
- -0.48%
- 6M
- 1.07%
- 1Y
- 4.47%
- 3Y*
- 3.64%
- 5Y*
- 1.49%
- 10Y*
- 2.29%
BIAEX
- 1D
- 0.21%
- 1M
- -2.20%
- YTD
- -0.48%
- 6M
- 1.23%
- 1Y
- 4.68%
- 3Y*
- 3.61%
- 5Y*
- 1.01%
- 10Y*
- 1.97%
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VWITX vs. BIAEX - Expense Ratio Comparison
VWITX has a 0.17% expense ratio, which is lower than BIAEX's 0.46% expense ratio.
Return for Risk
VWITX vs. BIAEX — Risk / Return Rank
VWITX
BIAEX
VWITX vs. BIAEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) and Brown Advisory Tax Exempt Bond Fund (BIAEX). 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.
| VWITX | BIAEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.25 | 1.24 | 0.00 |
Sortino ratioReturn per unit of downside risk | 1.66 | 1.68 | -0.02 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.34 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.41 | +0.02 |
Martin ratioReturn relative to average drawdown | 5.48 | 5.19 | +0.29 |
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
| VWITX | BIAEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.24 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.30 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.55 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.48 | +0.28 |
Correlation
The correlation between VWITX and BIAEX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VWITX vs. BIAEX - Dividend Comparison
VWITX's dividend yield for the trailing twelve months is around 3.25%, less than BIAEX's 3.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 3.25% | 3.96% | 3.53% | 2.70% | 2.43% | 1.83% | 2.32% | 2.80% | 2.80% | 2.72% | 2.80% | 2.88% |
BIAEX Brown Advisory Tax Exempt Bond Fund | 3.48% | 3.79% | 3.67% | 3.15% | 2.00% | 2.57% | 2.75% | 3.01% | 3.27% | 2.30% | 0.00% | 0.00% |
Drawdowns
VWITX vs. BIAEX - Drawdown Comparison
The maximum VWITX drawdown since its inception was -29.13%, which is greater than BIAEX's maximum drawdown of -13.89%. Use the drawdown chart below to compare losses from any high point for VWITX and BIAEX.
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Drawdown Indicators
| VWITX | BIAEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.13% | -13.89% | -15.24% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -3.97% | +0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -11.46% | -13.89% | +2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -11.46% | -13.89% | +2.43% |
Current DrawdownCurrent decline from peak | -2.64% | -2.51% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -3.58% | -2.85% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.08% | -0.06% |
Volatility
VWITX vs. BIAEX - Volatility Comparison
Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) and Brown Advisory Tax Exempt Bond Fund (BIAEX) have volatilities of 1.01% and 1.01%, 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.
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Volatility by Period
| VWITX | BIAEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.01% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.57% | 1.66% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 4.09% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.22% | 3.37% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.41% | 3.58% | -0.17% |