VWITX vs. VTEI
Compare and contrast key facts about Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) and Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI).
VWITX is managed by Vanguard. It was launched on Sep 1, 1977. VTEI is a passively managed fund by Vanguard that tracks the performance of the S&P Intermediate Term National AMT-Free Municipal Bond Index. It was launched on Jan 29, 2024.
Performance
VWITX vs. VTEI - Performance Comparison
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VWITX vs. VTEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | -0.70% | 5.89% | 2.91% |
VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF | -0.38% | 4.59% | 1.55% |
Returns By Period
In the year-to-date period, VWITX achieves a -0.70% return, which is significantly lower than VTEI's -0.38% return.
VWITX
- 1D
- 0.15%
- 1M
- -2.85%
- YTD
- -0.70%
- 6M
- 0.92%
- 1Y
- 4.55%
- 3Y*
- 3.57%
- 5Y*
- 1.44%
- 10Y*
- 2.27%
VTEI
- 1D
- 0.15%
- 1M
- -2.32%
- YTD
- -0.38%
- 6M
- 1.16%
- 1Y
- 4.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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VWITX vs. VTEI - Expense Ratio Comparison
VWITX has a 0.17% expense ratio, which is higher than VTEI's 0.08% 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%.
Return for Risk
VWITX vs. VTEI — Risk / Return Rank
VWITX
VTEI
VWITX vs. VTEI - 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 Tax-Exempt Bond ETF (VTEI). 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 | VTEI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.37 | 1.25 | +0.12 |
Sortino ratioReturn per unit of downside risk | 1.85 | 1.58 | +0.27 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.31 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.34 | +0.12 |
Martin ratioReturn relative to average drawdown | 5.63 | 4.44 | +1.19 |
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 | VTEI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 1.25 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.86 | -0.10 |
Correlation
The correlation between VWITX and VTEI is 0.71, 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. VTEI - Dividend Comparison
VWITX's dividend yield for the trailing twelve months is around 3.25%, more than VTEI's 3.05% 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% |
VTEI Vanguard Intermediate-Term Tax-Exempt Bond ETF | 3.05% | 3.00% | 2.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VWITX vs. VTEI - Drawdown Comparison
The maximum VWITX drawdown since its inception was -29.13%, which is greater than VTEI's maximum drawdown of -3.64%. Use the drawdown chart below to compare losses from any high point for VWITX and VTEI.
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Drawdown Indicators
| VWITX | VTEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.13% | -3.64% | -25.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -3.33% | -0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -11.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -11.46% | — | — |
Current DrawdownCurrent decline from peak | -2.85% | -2.32% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -3.58% | -0.73% | -2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.00% | 0.00% |
Volatility
VWITX vs. VTEI - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) is 0.96%, while Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI) has a volatility of 1.17%. This indicates that VWITX experiences smaller price fluctuations and is considered to be less risky than VTEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWITX | VTEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.17% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.56% | 1.53% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 3.42% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.22% | 3.09% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.41% | 3.09% | +0.32% |