VWITX vs. MUB
VWITX (Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares) and MUB (iShares National AMT-Free Muni Bond ETF) are both Municipal Bonds funds. Over the past 10 years, VWITX returned 2.38%/yr vs 2.01%/yr for MUB. A 0.58 correlation means they provide meaningful diversification when combined. VWITX charges 0.17%/yr vs 0.07%/yr for MUB.
Performance
VWITX vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, VWITX achieves a 1.23% return, which is significantly lower than MUB's 1.41% return. Over the past 10 years, VWITX has outperformed MUB with an annualized return of 2.38%, while MUB has yielded a comparatively lower 2.01% annualized return.
VWITX
- 1D
- -0.07%
- 1M
- 0.49%
- YTD
- 1.23%
- 6M
- 1.72%
- 1Y
- 6.66%
- 3Y*
- 4.44%
- 5Y*
- 1.60%
- 10Y*
- 2.38%
MUB
- 1D
- 0.17%
- 1M
- 0.66%
- YTD
- 1.41%
- 6M
- 1.92%
- 1Y
- 6.87%
- 3Y*
- 3.41%
- 5Y*
- 0.89%
- 10Y*
- 2.01%
VWITX vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 1.23% | 5.89% | 2.23% | 5.82% | -6.90% | 0.74% | 5.14% | 7.01% | 1.26% | 4.54% |
MUB iShares National AMT-Free Muni Bond ETF | 1.41% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
Correlation
The correlation between VWITX and MUB is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2007 | 0.58 |
The correlation between VWITX and MUB shifts across timeframes, from 0.58 (all time) to 0.71 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VWITX vs. MUB — Risk / Return Rank
VWITX
MUB
VWITX vs. MUB - 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 iShares National AMT-Free Muni Bond ETF (MUB). 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 | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.78 | 1.50 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.48 | -0.19 |
| Martin ratioReturn relative to average drawdown | 7.58 | 8.74 | -1.15 |
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 | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.93 | 2.37 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.22 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.41 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.59 | +0.18 |
Drawdowns
VWITX vs. MUB - Drawdown Comparison
The maximum VWITX drawdown since its inception was -29.13%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for VWITX and MUB.
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Drawdown Indicators
| VWITX | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.13% | -13.68% | -15.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -2.79% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -4.42% | -5.34% | +0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -11.46% | -11.88% | +0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -11.46% | -13.68% | +2.22% |
Current DrawdownCurrent decline from peak | -0.97% | -0.53% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -3.58% | -2.23% | -1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.79% | +0.11% |
Volatility
VWITX vs. MUB - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) is 0.88%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 0.98%. This indicates that VWITX experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWITX | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 0.98% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.86% | 2.22% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.34% | 2.92% | -0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.26% | 4.06% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.42% | 4.92% | -1.50% |
VWITX vs. MUB - Expense Ratio Comparison
VWITX has a 0.17% expense ratio, which is higher than MUB's 0.07% 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%.
Dividends
VWITX vs. MUB - Dividend Comparison
VWITX's dividend yield for the trailing twelve months is around 3.25%, more than MUB's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
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% |
Frequently Asked Questions
VWITX and MUB have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUB has higher volatility (0.98%) compared to VWITX (0.88%). In terms of maximum drawdown, VWITX dropped -29.13% vs MUB's -13.68%.
VWITX currently has the higher Sharpe Ratio (2.93 vs 2.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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