VWITX vs. VIGAX

Last updated Jun 24, 2026

VWITX (Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares) and VIGAX (Vanguard Growth Index Fund Admiral Shares) are both mutual funds - VWITX is a Municipal Bonds fund managed by Vanguard, while VIGAX is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Over the past 10 years, VWITX returned 2.27%/yr vs 18.26%/yr for VIGAX. At a correlation of -0.08, they often move in opposite directions. VWITX charges 0.17%/yr vs 0.05%/yr for VIGAX.

Performance

VWITX vs. VIGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) and Vanguard Growth Index Fund Admiral Shares (VIGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWITX achieves a 1.23% return, which is significantly lower than VIGAX's 5.74% return. Over the past 10 years, VWITX has underperformed VIGAX with an annualized return of 2.27%, while VIGAX has yielded a comparatively higher 18.26% annualized return.

VWITX

• 1D: -0.07%
• 1M: 1.23%
• YTD: 1.23%
• 6M: 1.65%
• 1Y: 6.26%
• 3Y*: 4.33%
• 5Y*: 1.63%
• 10Y*: 2.27%

VIGAX

• 1D: -1.35%
• 1M: -1.90%
• YTD: 5.74%
• 6M: 4.44%
• 1Y: 22.59%
• 3Y*: 23.61%
• 5Y*: 13.38%
• 10Y*: 18.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VWITX vs. VIGAX - 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%
VIGAX Vanguard Growth Index Fund Admiral Shares	5.74%	19.43%	32.67%	46.76%	-33.14%	27.26%	40.18%	37.23%	-3.35%	27.80%

Correlation

The correlation between VWITX and VIGAX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Nov 13, 2000	-0.08

The correlation between VWITX and VIGAX shifts across timeframes, from -0.08 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VWITX vs. VIGAX — Risk / Return Rank

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

VWITX

VWITX Risk / Return Rank: 69
VWITX Sharpe Ratio Rank: 90
VWITX Sortino Ratio Rank: 93
VWITX Omega Ratio Rank: 95
VWITX Calmar Ratio Rank: 36
VWITX Martin Ratio Rank: 33

VIGAX

VIGAX Risk / Return Rank: 24
VIGAX Sharpe Ratio Rank: 28
VIGAX Sortino Ratio Rank: 26
VIGAX Omega Ratio Rank: 27
VIGAX Calmar Ratio Rank: 18
VIGAX Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VWITX vs. VIGAX - 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 Growth Index Fund Admiral Shares (VIGAX). 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	VIGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.77	1.43	+1.34
Sortino ratio: Return per unit of downside risk	4.42	1.97	+2.45
Omega ratio: Gain probability vs. loss probability	1.73	1.25	+0.48
Calmar ratio: Return relative to maximum drawdown	2.15	1.46	+0.69
Martin ratio: Return relative to average drawdown	6.95	5.01	+1.94

VWITX vs. VIGAX - Sharpe Ratio Comparison

The current VWITX Sharpe Ratio is 2.77, which is higher than the VIGAX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of VWITX and VIGAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VWITX vs. VIGAX - Drawdown Comparison

The maximum VWITX drawdown since its inception was -29.13%, smaller than the maximum VIGAX drawdown of -50.66%. Use the drawdown chart below to compare losses from any high point for VWITX and VIGAX.

Drawdown Indicators

	VWITX	VIGAX	Difference
Max Drawdown Largest peak-to-trough decline	-29.13%	-50.66%	+21.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.99%	-16.51%	+13.52%
Max Drawdown (3Y) Largest decline over 3 years	-4.42%	-23.04%	+18.62%
Max Drawdown (5Y) Largest decline over 5 years	-11.46%	-35.63%	+24.17%
Max Drawdown (10Y) Largest decline over 10 years	-11.46%	-35.63%	+24.17%
Current Drawdown Current decline from peak	-0.97%	-4.85%	+3.88%
Average Drawdown Average peak-to-trough decline	-3.57%	-11.94%	+8.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	4.80%	-3.87%

Volatility

VWITX vs. VIGAX - Volatility Comparison

The current volatility for Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) is 0.63%, while Vanguard Growth Index Fund Admiral Shares (VIGAX) has a volatility of 6.58%. This indicates that VWITX experiences smaller price fluctuations and is considered to be less risky than VIGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWITX	VIGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	6.58%	-5.95%
Volatility (6M) Calculated over the trailing 6-month period	1.86%	13.37%	-11.51%
Volatility (1Y) Calculated over the trailing 1-year period	2.33%	16.89%	-14.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.26%	22.49%	-19.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.42%	21.67%	-18.25%

VWITX vs. VIGAX - Expense Ratio Comparison

VWITX has a 0.17% expense ratio, which is higher than VIGAX's 0.05% 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. VIGAX - Dividend Comparison

VWITX's dividend yield for the trailing twelve months is around 3.25%, more than VIGAX's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIGAX Vanguard Growth Index Fund Admiral Shares	0.38%	0.40%	0.46%	0.57%	0.69%	0.47%	0.66%	0.94%	1.31%	1.14%	1.39%	1.31%
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

Can I hold both VWITX and VIGAX in my portfolio?

VWITX and VIGAX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWITX or VIGAX?

VIGAX has higher volatility (6.58%) compared to VWITX (0.63%). In terms of maximum drawdown, VWITX dropped -29.13% vs VIGAX's -50.66%.

Which has better risk-adjusted returns?

VWITX currently has the higher Sharpe Ratio (2.77 vs 1.43), 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.