VWLTX vs. DODIX
Compare and contrast key facts about Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) and Dodge & Cox Income Fund (DODIX).
VWLTX is managed by Vanguard. It was launched on Sep 1, 1977. DODIX is managed by Dodge & Cox.
Performance
VWLTX vs. DODIX - Performance Comparison
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VWLTX vs. DODIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWLTX Vanguard Long-Term Tax-Exempt Fund Investor Shares | -0.78% | 4.80% | 2.44% | 7.56% | -10.43% | 1.83% | 6.21% | 8.77% | 0.89% | 6.45% |
DODIX Dodge & Cox Income Fund | -0.19% | 8.32% | 2.25% | 7.69% | -11.42% | -0.92% | 9.46% | 9.73% | -0.31% | 4.36% |
Returns By Period
In the year-to-date period, VWLTX achieves a -0.78% return, which is significantly lower than DODIX's -0.19% return. Over the past 10 years, VWLTX has underperformed DODIX with an annualized return of 2.49%, while DODIX has yielded a comparatively higher 3.02% annualized return.
VWLTX
- 1D
- 0.19%
- 1M
- -2.91%
- YTD
- -0.78%
- 6M
- 0.90%
- 1Y
- 4.00%
- 3Y*
- 3.59%
- 5Y*
- 1.04%
- 10Y*
- 2.49%
DODIX
- 1D
- 0.63%
- 1M
- -2.32%
- YTD
- -0.19%
- 6M
- 1.09%
- 1Y
- 5.10%
- 3Y*
- 4.90%
- 5Y*
- 1.40%
- 10Y*
- 3.02%
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VWLTX vs. DODIX - Expense Ratio Comparison
VWLTX has a 0.17% expense ratio, which is lower than DODIX's 0.41% expense ratio.
Return for Risk
VWLTX vs. DODIX — Risk / Return Rank
VWLTX
DODIX
VWLTX vs. DODIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) and Dodge & Cox Income Fund (DODIX). 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.
| VWLTX | DODIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 1.15 | -0.24 |
Sortino ratioReturn per unit of downside risk | 1.24 | 1.65 | -0.41 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.21 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.99 | 2.02 | -1.03 |
Martin ratioReturn relative to average drawdown | 3.11 | 6.03 | -2.93 |
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
| VWLTX | DODIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.15 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.25 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.69 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 1.47 | -0.95 |
Correlation
The correlation between VWLTX and DODIX is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
VWLTX vs. DODIX - Dividend Comparison
VWLTX's dividend yield for the trailing twelve months is around 3.72%, less than DODIX's 4.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWLTX Vanguard Long-Term Tax-Exempt Fund Investor Shares | 3.72% | 4.51% | 3.98% | 3.09% | 2.91% | 2.65% | 3.24% | 3.82% | 3.49% | 3.70% | 3.98% | 3.79% |
DODIX Dodge & Cox Income Fund | 4.29% | 4.23% | 4.24% | 3.86% | 2.19% | 3.23% | 4.66% | 3.63% | 3.43% | 3.03% | 3.25% | 3.09% |
Drawdowns
VWLTX vs. DODIX - Drawdown Comparison
The maximum VWLTX drawdown since its inception was -49.97%, which is greater than DODIX's maximum drawdown of -16.89%. Use the drawdown chart below to compare losses from any high point for VWLTX and DODIX.
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Drawdown Indicators
| VWLTX | DODIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.97% | -16.89% | -33.08% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -2.94% | -2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.01% | -16.89% | +0.88% |
Max Drawdown (10Y)Largest decline over 10 years | -16.01% | -16.89% | +0.88% |
Current DrawdownCurrent decline from peak | -2.91% | -2.32% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -10.21% | -1.50% | -8.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 0.98% | +0.73% |
Volatility
VWLTX vs. DODIX - Volatility Comparison
The current volatility for Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) is 1.14%, while Dodge & Cox Income Fund (DODIX) has a volatility of 1.85%. This indicates that VWLTX experiences smaller price fluctuations and is considered to be less risky than DODIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWLTX | DODIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.85% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 1.86% | 2.80% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.42% | 4.61% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 5.52% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.49% | 4.42% | +0.07% |