VWITX vs. VFITX
VWITX (Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares) and VFITX (Vanguard Intermediate-Term Treasury Fund Investor Shares) are both mutual funds - VWITX is a Municipal Bonds fund actively managed by Vanguard, while VFITX is a Government Bonds fund managed by Vanguard. Over the past 10 years, VWITX returned 2.12%/yr vs 1.10%/yr for VFITX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. VWITX charges 0.17%/yr vs 0.20%/yr for VFITX.
Performance
VWITX vs. VFITX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VWITX achieves a -0.11% return, which is significantly higher than VFITX's -1.09% return. Over the past 10 years, VWITX has outperformed VFITX with an annualized return of 2.12%, while VFITX has yielded a comparatively lower 1.10% annualized return.
VWITX
- 1D
- -0.22%
- 1M
- -1.81%
- 6M
- -1.02%
- YTD
- -0.11%
- 1Y
- 4.05%
- 3Y*
- 3.74%
- 5Y*
- 1.19%
- 10Y*
- 2.12%
- ALL TIME*
- 3.46%
VFITX
- 1D
- 0.00%
- 1M
- -0.81%
- 6M
- -1.02%
- YTD
- -1.09%
- 1Y
- 0.92%
- 3Y*
- 3.57%
- 5Y*
- -0.27%
- 10Y*
- 1.10%
- ALL TIME*
- 4.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VWITX vs. VFITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | -0.11% | 5.89% | 2.23% | 5.82% | -6.90% | 0.74% | 5.14% | 7.01% | 1.26% | 4.54% |
VFITX Vanguard Intermediate-Term Treasury Fund Investor Shares | -1.09% | 7.54% | 1.39% | 4.08% | -10.43% | -2.38% | 8.20% | 6.29% | 1.01% | 1.57% |
Correlation
The correlation between VWITX and VFITX is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 1991 | 0.56 |
The correlation between VWITX and VFITX shifts across timeframes, from 0.52 (10 years) to 0.65 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VWITX vs. VFITX — Risk / Return Rank
VWITX
VFITX
VWITX vs. VFITX - 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 Vanguard Intermediate-Term Treasury Fund Investor Shares (VFITX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VWITX | VFITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.10 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 0.71 | +0.90 |
| Martin ratioReturn relative to average drawdown | 4.72 | 1.61 | +3.11 |
Loading charts...
Drawdowns
VWITX vs. VFITX - Drawdown Comparison
The maximum VWITX drawdown since its inception was -29.13%, which is greater than VFITX's maximum drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for VWITX and VFITX.
Loading charts...
Drawdown Indicators
| VWITX | VFITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.13% | -15.58% | -13.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -3.21% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -4.02% | -4.74% | +0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -11.46% | -14.90% | +3.44% |
Max Drawdown (10Y)Largest decline over 10 years | -11.46% | -15.58% | +4.12% |
Current DrawdownCurrent decline from peak | -2.28% | -2.76% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -3.57% | -2.64% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.42% | -0.40% |
Volatility
VWITX vs. VFITX - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) is 0.79%, while Vanguard Intermediate-Term Treasury Fund Investor Shares (VFITX) has a volatility of 0.93%. This indicates that VWITX experiences smaller price fluctuations and is considered to be less risky than VFITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VWITX | VFITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.93% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.01% | 2.99% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.44% | 3.81% | -1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.28% | 5.65% | -2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.42% | 4.66% | -1.24% |
VWITX vs. VFITX - Expense Ratio Comparison
VWITX has a 0.17% expense ratio, which is lower than VFITX's 0.20% expense ratio. Despite the difference, 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. VFITX - Dividend Comparison
VWITX's dividend yield for the trailing twelve months is around 3.05%, less than VFITX's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFITX Vanguard Intermediate-Term Treasury Fund Investor Shares | 3.63% | 3.90% | 4.05% | 3.45% | 1.97% | 0.99% | 4.84% | 2.30% | 2.34% | 1.75% | 2.77% | 2.50% |
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 3.05% | 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 VFITX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFITX has higher volatility (0.93%) compared to VWITX (0.79%). In terms of maximum drawdown, VWITX dropped -29.13% vs VFITX's -15.58%.
VWITX currently has the higher Sharpe Ratio (1.98 vs 0.60), 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.
Find the right allocation for VWITX and VFITX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer