VWLTX vs. VMATX
Compare and contrast key facts about Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) and Vanguard Massachusetts Tax-Exempt Fund (VMATX).
VWLTX is managed by Vanguard. It was launched on Sep 1, 1977. VMATX is managed by Vanguard. It was launched on Dec 9, 1998.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VWLTX or VMATX.
Key characteristics
| VWLTX | VMATX | |
|---|---|---|
| YTD Return | 1.92% | 1.86% |
| 1Y Return | 9.24% | 8.88% |
| 3Y Return (Ann) | -0.61% | -0.80% |
| 5Y Return (Ann) | 1.27% | 1.06% |
| 10Y Return (Ann) | 2.56% | 2.26% |
| Sharpe Ratio | 2.33 | 2.22 |
| Sortino Ratio | 3.50 | 3.33 |
| Omega Ratio | 1.54 | 1.52 |
| Calmar Ratio | 0.87 | 0.82 |
| Martin Ratio | 9.81 | 9.14 |
| Ulcer Index | 0.95% | 0.98% |
| Daily Std Dev | 4.01% | 4.04% |
| Max Drawdown | -16.46% | -16.24% |
| Current Drawdown | -2.55% | -3.04% |
Correlation
The correlation between VWLTX and VMATX is 0.91, 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.
Performance
VWLTX vs. VMATX - Performance Comparison
The year-to-date returns for both stocks are quite close, with VWLTX having a 1.92% return and VMATX slightly lower at 1.86%. Over the past 10 years, VWLTX has outperformed VMATX with an annualized return of 2.56%, while VMATX has yielded a comparatively lower 2.26% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VWLTX vs. VMATX - Expense Ratio Comparison
VWLTX has a 0.17% expense ratio, which is higher than VMATX's 0.13% 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%.
Risk-Adjusted Performance
VWLTX vs. VMATX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) and Vanguard Massachusetts Tax-Exempt Fund (VMATX). 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.
Dividends
VWLTX vs. VMATX - Dividend Comparison
VWLTX's dividend yield for the trailing twelve months is around 3.35%, which matches VMATX's 3.35% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWLTX Vanguard Long-Term Tax-Exempt Fund Investor Shares | 3.35% | 3.09% | 2.91% | 2.56% | 2.79% | 3.14% | 3.43% | 3.44% | 3.64% | 3.67% | 3.79% | 4.07% |
VMATX Vanguard Massachusetts Tax-Exempt Fund | 3.35% | 3.07% | 2.69% | 2.26% | 2.47% | 2.81% | 3.07% | 2.92% | 3.06% | 3.06% | 3.16% | 3.35% |
Drawdowns
VWLTX vs. VMATX - Drawdown Comparison
The maximum VWLTX drawdown since its inception was -16.46%, roughly equal to the maximum VMATX drawdown of -16.24%. Use the drawdown chart below to compare losses from any high point for VWLTX and VMATX. For additional features, visit the drawdowns tool.
Volatility
VWLTX vs. VMATX - Volatility Comparison
Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) and Vanguard Massachusetts Tax-Exempt Fund (VMATX) have volatilities of 1.93% and 1.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.