VWLUX vs. NMI
Compare and contrast key facts about Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) and Nuveen Municipal Income Fund, Inc. (NMI).
VWLUX is managed by Vanguard. It was launched on Feb 12, 2001. NMI is managed by Nuveen. It was launched on Apr 20, 1998.
Performance
VWLUX vs. NMI - Performance Comparison
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VWLUX vs. NMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares | -0.40% | 4.90% | 2.54% | 7.65% | -10.35% | 1.89% | 6.29% | 8.87% | 0.99% | 6.56% |
NMI Nuveen Municipal Income Fund, Inc. | 5.52% | 10.52% | 7.03% | 1.90% | -15.09% | 3.86% | 4.70% | 16.02% | -8.07% | 7.49% |
Returns By Period
In the year-to-date period, VWLUX achieves a -0.40% return, which is significantly lower than NMI's 5.52% return. Over the past 10 years, VWLUX has outperformed NMI with an annualized return of 2.62%, while NMI has yielded a comparatively lower 2.30% annualized return.
VWLUX
- 1D
- 0.37%
- 1M
- -2.28%
- YTD
- -0.40%
- 6M
- 1.21%
- 1Y
- 4.08%
- 3Y*
- 3.82%
- 5Y*
- 1.18%
- 10Y*
- 2.62%
NMI
- 1D
- -0.86%
- 1M
- 3.79%
- YTD
- 5.52%
- 6M
- 6.73%
- 1Y
- 10.11%
- 3Y*
- 8.16%
- 5Y*
- 2.04%
- 10Y*
- 2.30%
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VWLUX vs. NMI - Expense Ratio Comparison
VWLUX has a 0.09% expense ratio, which is lower than NMI's 0.72% expense ratio.
Return for Risk
VWLUX vs. NMI — Risk / Return Rank
VWLUX
NMI
VWLUX vs. NMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) and Nuveen Municipal Income Fund, Inc. (NMI). 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.
| VWLUX | NMI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 0.84 | 0.00 |
Sortino ratioReturn per unit of downside risk | 1.14 | 1.49 | -0.36 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.21 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.01 | 1.17 | -0.16 |
Martin ratioReturn relative to average drawdown | 3.17 | 2.37 | +0.80 |
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
| VWLUX | NMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 0.84 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.15 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.16 | +0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.34 | +0.63 |
Correlation
The correlation between VWLUX and NMI is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VWLUX vs. NMI - Dividend Comparison
VWLUX's dividend yield for the trailing twelve months is around 3.78%, less than NMI's 4.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares | 3.78% | 4.61% | 4.08% | 3.17% | 3.00% | 2.70% | 3.32% | 3.91% | 3.58% | 3.80% | 4.09% | 3.87% |
NMI Nuveen Municipal Income Fund, Inc. | 4.40% | 4.59% | 4.63% | 4.04% | 3.51% | 3.22% | 3.53% | 4.15% | 5.12% | 4.21% | 4.45% | 4.28% |
Drawdowns
VWLUX vs. NMI - Drawdown Comparison
The maximum VWLUX drawdown since its inception was -15.94%, smaller than the maximum NMI drawdown of -28.92%. Use the drawdown chart below to compare losses from any high point for VWLUX and NMI.
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Drawdown Indicators
| VWLUX | NMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -28.92% | +12.98% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -8.71% | +3.35% |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | -28.92% | +12.98% |
Max Drawdown (10Y)Largest decline over 10 years | -15.94% | -28.92% | +12.98% |
Current DrawdownCurrent decline from peak | -2.54% | -0.86% | -1.68% |
Average DrawdownAverage peak-to-trough decline | -2.09% | -5.93% | +3.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 4.31% | -2.60% |
Volatility
VWLUX vs. NMI - Volatility Comparison
The current volatility for Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) is 1.24%, while Nuveen Municipal Income Fund, Inc. (NMI) has a volatility of 5.78%. This indicates that VWLUX experiences smaller price fluctuations and is considered to be less risky than NMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWLUX | NMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 5.78% | -4.54% |
Volatility (6M)Calculated over the trailing 6-month period | 1.90% | 7.44% | -5.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.43% | 12.11% | -6.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.56% | 13.59% | -9.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.49% | 14.60% | -10.11% |