VWIUX vs. VMLUX
Compare and contrast key facts about Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares (VWIUX) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX).
VWIUX is managed by Vanguard. It was launched on Feb 12, 2001. VMLUX is managed by Vanguard. It was launched on Feb 12, 2001.
Performance
VWIUX vs. VMLUX - Performance Comparison
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VWIUX vs. VMLUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWIUX Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares | -0.69% | 5.99% | 2.34% | 5.90% | -6.83% | 0.81% | 5.23% | 7.10% | 1.34% | 4.65% |
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | -0.12% | 5.50% | 3.25% | 4.29% | -2.90% | 0.23% | 3.38% | 4.21% | 1.64% | 2.13% |
Returns By Period
In the year-to-date period, VWIUX achieves a -0.69% return, which is significantly lower than VMLUX's -0.12% return. Over the past 10 years, VWIUX has outperformed VMLUX with an annualized return of 2.36%, while VMLUX has yielded a comparatively lower 2.06% annualized return.
VWIUX
- 1D
- 0.15%
- 1M
- -2.85%
- YTD
- -0.69%
- 6M
- 0.95%
- 1Y
- 4.63%
- 3Y*
- 3.66%
- 5Y*
- 1.53%
- 10Y*
- 2.36%
VMLUX
- 1D
- 0.00%
- 1M
- -1.53%
- YTD
- -0.12%
- 6M
- 0.59%
- 1Y
- 3.86%
- 3Y*
- 3.78%
- 5Y*
- 2.05%
- 10Y*
- 2.06%
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VWIUX vs. VMLUX - Expense Ratio Comparison
Both VWIUX and VMLUX have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
VWIUX vs. VMLUX — Risk / Return Rank
VWIUX
VMLUX
VWIUX vs. VMLUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares (VWIUX) and Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX). 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.
| VWIUX | VMLUX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.39 | 1.97 | -0.58 |
Sortino ratioReturn per unit of downside risk | 1.88 | 2.95 | -1.07 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.66 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | 1.48 | 2.32 | -0.84 |
Martin ratioReturn relative to average drawdown | 5.75 | 10.14 | -4.38 |
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
| VWIUX | VMLUX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 1.97 | -0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 1.11 | -0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 1.07 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 1.46 | -0.35 |
Correlation
The correlation between VWIUX and VMLUX is 0.77, 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
VWIUX vs. VMLUX - Dividend Comparison
VWIUX's dividend yield for the trailing twelve months is around 3.33%, more than VMLUX's 3.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWIUX Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares | 3.33% | 4.06% | 3.63% | 2.78% | 2.51% | 1.89% | 2.40% | 2.88% | 2.89% | 2.82% | 2.91% | 2.96% |
VMLUX Vanguard Limited-Term Tax-Exempt Fund Admiral Shares | 3.14% | 3.85% | 3.38% | 2.39% | 1.64% | 1.04% | 1.70% | 2.10% | 1.89% | 1.65% | 1.62% | 1.58% |
Drawdowns
VWIUX vs. VMLUX - Drawdown Comparison
The maximum VWIUX drawdown since its inception was -11.38%, which is greater than VMLUX's maximum drawdown of -6.41%. Use the drawdown chart below to compare losses from any high point for VWIUX and VMLUX.
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Drawdown Indicators
| VWIUX | VMLUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.38% | -6.41% | -4.97% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -2.02% | -1.87% |
Max Drawdown (5Y)Largest decline over 5 years | -11.38% | -5.60% | -5.78% |
Max Drawdown (10Y)Largest decline over 10 years | -11.38% | -6.41% | -4.97% |
Current DrawdownCurrent decline from peak | -2.85% | -1.53% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -0.54% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 0.46% | +0.54% |
Volatility
VWIUX vs. VMLUX - Volatility Comparison
Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares (VWIUX) has a higher volatility of 0.96% compared to Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) at 0.50%. This indicates that VWIUX's price experiences larger fluctuations and is considered to be riskier than VMLUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWIUX | VMLUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.50% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 1.57% | 1.03% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.93% | 2.34% | +1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.23% | 1.85% | +1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.42% | 1.92% | +1.50% |