VWLTX vs. VIGAX
VWLTX (Vanguard Long-Term Tax-Exempt Fund Investor Shares) and VIGAX (Vanguard Growth Index Fund Admiral Shares) are both mutual funds - VWLTX 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, VWLTX returned 2.62%/yr vs 18.39%/yr for VIGAX. At a correlation of -0.09, they often move in opposite directions. VWLTX charges 0.17%/yr vs 0.05%/yr for VIGAX.
Performance
VWLTX vs. VIGAX - Performance Comparison
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Returns By Period
In the year-to-date period, VWLTX achieves a 1.94% return, which is significantly lower than VIGAX's 10.82% return. Over the past 10 years, VWLTX has underperformed VIGAX with an annualized return of 2.62%, while VIGAX has yielded a comparatively higher 18.39% annualized return.
VWLTX
- 1D
- 0.28%
- 1M
- 0.87%
- YTD
- 1.94%
- 6M
- 2.35%
- 1Y
- 8.40%
- 3Y*
- 4.67%
- 5Y*
- 1.24%
- 10Y*
- 2.62%
VIGAX
- 1D
- -0.28%
- 1M
- 7.54%
- YTD
- 10.82%
- 6M
- 10.11%
- 1Y
- 29.44%
- 3Y*
- 26.45%
- 5Y*
- 15.71%
- 10Y*
- 18.39%
VWLTX vs. VIGAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWLTX Vanguard Long-Term Tax-Exempt Fund Investor Shares | 1.94% | 4.80% | 2.44% | 7.56% | -10.43% | 1.83% | 6.21% | 8.77% | 0.89% | 6.45% |
VIGAX Vanguard Growth Index Fund Admiral Shares | 10.82% | 19.43% | 32.67% | 46.76% | -33.14% | 27.26% | 40.18% | 37.23% | -3.35% | 27.80% |
Correlation
The correlation between VWLTX and VIGAX is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2000 | -0.09 |
The correlation between VWLTX and VIGAX shifts across timeframes, from -0.09 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VWLTX vs. VIGAX — Risk / Return Rank
VWLTX
VIGAX
VWLTX vs. VIGAX - 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 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.
| VWLTX | VIGAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.33 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 1.84 | +0.85 |
| Martin ratioReturn relative to average drawdown | 9.64 | 6.49 | +3.15 |
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 | VIGAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.71 | 1.92 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.71 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.86 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.48 | +0.05 |
Drawdowns
VWLTX vs. VIGAX - Drawdown Comparison
The maximum VWLTX drawdown since its inception was -49.97%, roughly equal to the maximum VIGAX drawdown of -50.66%. Use the drawdown chart below to compare losses from any high point for VWLTX and VIGAX.
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Drawdown Indicators
| VWLTX | VIGAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.97% | -50.66% | +0.69% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -16.51% | +13.42% |
Max Drawdown (3Y)Largest decline over 3 years | -6.92% | -23.04% | +16.12% |
Max Drawdown (5Y)Largest decline over 5 years | -16.01% | -35.63% | +19.62% |
Max Drawdown (10Y)Largest decline over 10 years | -16.01% | -35.63% | +19.62% |
Current DrawdownCurrent decline from peak | -0.24% | -0.28% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -10.18% | -11.96% | +1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 4.68% | -3.82% |
Volatility
VWLTX vs. VIGAX - Volatility Comparison
The current volatility for Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) is 1.26%, while Vanguard Growth Index Fund Admiral Shares (VIGAX) has a volatility of 3.62%. This indicates that VWLTX 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.
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Volatility by Period
| VWLTX | VIGAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 3.62% | -2.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 12.10% | -9.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.09% | 15.88% | -12.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.60% | 22.35% | -17.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.51% | 21.59% | -17.08% |
VWLTX vs. VIGAX - Expense Ratio Comparison
VWLTX 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
VWLTX vs. VIGAX - Dividend Comparison
VWLTX's dividend yield for the trailing twelve months is around 3.69%, more than VIGAX's 0.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIGAX Vanguard Growth Index Fund Admiral Shares | 0.36% | 0.40% | 0.46% | 0.57% | 0.69% | 0.47% | 0.66% | 0.94% | 1.31% | 1.14% | 1.39% | 1.31% |
VWLTX Vanguard Long-Term Tax-Exempt Fund Investor Shares | 3.69% | 4.51% | 3.98% | 3.09% | 2.91% | 2.65% | 3.24% | 3.82% | 3.49% | 3.70% | 3.98% | 3.79% |
Frequently Asked Questions
VWLTX and VIGAX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIGAX has higher volatility (3.62%) compared to VWLTX (1.26%). In terms of maximum drawdown, VWLTX dropped -49.97% vs VIGAX's -50.66%.
VWLTX currently has the higher Sharpe Ratio (2.71 vs 1.92), 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.
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