VWLTX vs. VITAX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) and Vanguard Information Technology Index Fund Admiral Shares (VITAX).

VWLTX is managed by Vanguard. It was launched on Sep 1, 1977. VITAX is a passively managed fund by Vanguard that tracks the performance of the MSCI US IMI Info Technology 25/50. It was launched on Mar 25, 2004.

Performance

VWLTX vs. VITAX - Performance Comparison

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

VWLTX vs. VITAX - 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%
VITAX Vanguard Information Technology Index Fund Admiral Shares	-11.14%	21.78%	29.26%	52.69%	-29.67%	30.36%	45.93%	48.72%	2.51%	37.07%

Returns By Period

In the year-to-date period, VWLTX achieves a -0.78% return, which is significantly higher than VITAX's -11.14% return. Over the past 10 years, VWLTX has underperformed VITAX with an annualized return of 2.49%, while VITAX has yielded a comparatively higher 20.84% 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%

VITAX

• 1D: -1.79%
• 1M: -7.83%
• YTD: -11.14%
• 6M: -10.25%
• 1Y: 23.94%
• 3Y*: 20.87%
• 5Y*: 14.06%
• 10Y*: 20.84%

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

VWLTX vs. VITAX - Expense Ratio Comparison

VWLTX has a 0.17% expense ratio, which is higher than VITAX's 0.10% 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%.

VWLTX

Vanguard Long-Term Tax-Exempt Fund Investor Shares

VITAX

Vanguard Information Technology Index Fund Admiral Shares

Return for Risk

VWLTX vs. VITAX — Risk / Return Rank

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

VWLTX

VWLTX Risk / Return Rank: 45
VWLTX Sharpe Ratio Rank: 47
VWLTX Sortino Ratio Rank: 41
VWLTX Omega Ratio Rank: 69
VWLTX Calmar Ratio Rank: 37
VWLTX Martin Ratio Rank: 29

VITAX

VITAX Risk / Return Rank: 47
VITAX Sharpe Ratio Rank: 44
VITAX Sortino Ratio Rank: 52
VITAX Omega Ratio Rank: 48
VITAX Calmar Ratio Rank: 53
VITAX Martin Ratio Rank: 38

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.

VWLTX vs. VITAX - 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 Information Technology Index Fund Admiral Shares (VITAX). 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	VITAX	Difference
Sharpe ratio Return per unit of total volatility	0.91	0.87	+0.04
Sortino ratio Return per unit of downside risk	1.24	1.39	-0.15
Omega ratio Gain probability vs. loss probability	1.25	1.19	+0.06
Calmar ratio Return relative to maximum drawdown	0.99	1.26	-0.26
Martin ratio Return relative to average drawdown	3.11	3.92	-0.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWLTX vs. VITAX - Sharpe Ratio Comparison

The current VWLTX Sharpe Ratio is 0.91, which is comparable to the VITAX Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of VWLTX and VITAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VWLTX	VITAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	0.87	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.56	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.85	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.59	-0.06

Correlation

The correlation between VWLTX and VITAX is -0.09. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

VWLTX vs. VITAX - Dividend Comparison

VWLTX's dividend yield for the trailing twelve months is around 3.72%, more than VITAX's 0.46% 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%
VITAX Vanguard Information Technology Index Fund Admiral Shares	0.46%	0.40%	0.60%	0.65%	0.91%	0.63%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Drawdowns

VWLTX vs. VITAX - Drawdown Comparison

The maximum VWLTX drawdown since its inception was -49.97%, smaller than the maximum VITAX drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for VWLTX and VITAX.

Drawdown Indicators

	VWLTX	VITAX	Difference
Max Drawdown Largest peak-to-trough decline	-49.97%	-54.81%	+4.84%
Max Drawdown (1Y) Largest decline over 1 year	-5.36%	-16.38%	+11.02%
Max Drawdown (5Y) Largest decline over 5 years	-16.01%	-35.10%	+19.09%
Max Drawdown (10Y) Largest decline over 10 years	-16.01%	-35.10%	+19.09%
Current Drawdown Current decline from peak	-2.91%	-16.38%	+13.47%
Average Drawdown Average peak-to-trough decline	-10.21%	-8.06%	-2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	5.24%	-3.53%

Volatility

VWLTX vs. VITAX - Volatility Comparison

The current volatility for Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) is 1.14%, while Vanguard Information Technology Index Fund Admiral Shares (VITAX) has a volatility of 6.70%. This indicates that VWLTX experiences smaller price fluctuations and is considered to be less risky than VITAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWLTX	VITAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	6.70%	-5.56%
Volatility (6M) Calculated over the trailing 6-month period	1.86%	15.84%	-13.98%
Volatility (1Y) Calculated over the trailing 1-year period	5.42%	27.38%	-21.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.55%	25.22%	-20.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.49%	24.69%	-20.20%