VWLUX vs. VTEL

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) and Vanguard Long-Term Tax-Exempt Bond ETF (VTEL).

VWLUX is managed by Vanguard. It was launched on Feb 12, 2001. VTEL is a passively managed fund by Vanguard that tracks the performance of the S&P 10+ Year National AMT-Free Municipal Bond Index. It was launched on May 20, 2025.

Performance

VWLUX vs. VTEL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Tax-Exempt Fund Admiral Shares (VWLUX) and Vanguard Long-Term Tax-Exempt Bond ETF (VTEL). The values are adjusted to include any dividend payments, if applicable.

VWLUX vs. VTEL - Yearly Performance Comparison

	2026 (YTD)	2025
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares	-0.77%	6.62%
VTEL Vanguard Long-Term Tax-Exempt Bond ETF	-0.47%	6.66%

Returns By Period

In the year-to-date period, VWLUX achieves a -0.77% return, which is significantly lower than VTEL's -0.47% return.

VWLUX

• 1D: 0.19%
• 1M: -2.91%
• YTD: -0.77%
• 6M: 0.93%
• 1Y: 4.08%
• 3Y*: 3.69%
• 5Y*: 1.13%
• 10Y*: 2.58%

VTEL

• 1D: 0.40%
• 1M: -2.49%
• YTD: -0.47%
• 6M: 1.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VWLUX vs. VTEL - Expense Ratio Comparison

Both VWLUX and VTEL have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

VWLUX

Vanguard Long-Term Tax-Exempt Fund Admiral Shares

VTEL

Vanguard Long-Term Tax-Exempt Bond ETF

Return for Risk

VWLUX vs. VTEL — Risk / Return Rank

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

VWLUX

VWLUX Risk / Return Rank: 46
VWLUX Sharpe Ratio Rank: 49
VWLUX Sortino Ratio Rank: 43
VWLUX Omega Ratio Rank: 70
VWLUX Calmar Ratio Rank: 38
VWLUX Martin Ratio Rank: 30

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.

VWLUX vs. VTEL - 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 Vanguard Long-Term Tax-Exempt Bond ETF (VTEL). 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	VTEL	Difference
Sharpe ratio Return per unit of total volatility	0.93	—	—
Sortino ratio Return per unit of downside risk	1.27	—	—
Omega ratio Gain probability vs. loss probability	1.26	—	—
Calmar ratio Return relative to maximum drawdown	1.01	—	—
Martin ratio Return relative to average drawdown	3.18	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	VWLUX	VTEL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	1.93	-0.97

Correlation

The correlation between VWLUX and VTEL is 0.69, 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

VWLUX vs. VTEL - Dividend Comparison

VWLUX's dividend yield for the trailing twelve months is around 3.80%, more than VTEL's 2.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VWLUX Vanguard Long-Term Tax-Exempt Fund Admiral Shares	3.80%	4.61%	4.08%	3.17%	3.00%	2.70%	3.32%	3.91%	3.58%	3.80%	4.09%	3.87%
VTEL Vanguard Long-Term Tax-Exempt Bond ETF	2.88%	2.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VWLUX vs. VTEL - Drawdown Comparison

The maximum VWLUX drawdown since its inception was -15.94%, which is greater than VTEL's maximum drawdown of -3.22%. Use the drawdown chart below to compare losses from any high point for VWLUX and VTEL.

Drawdown Indicators

	VWLUX	VTEL	Difference
Max Drawdown Largest peak-to-trough decline	-15.94%	-3.22%	-12.72%
Max Drawdown (1Y) Largest decline over 1 year	-5.36%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.94%	—	—
Current Drawdown Current decline from peak	-2.91%	-2.49%	-0.42%
Average Drawdown Average peak-to-trough decline	-2.09%	-0.49%	-1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	—	—

Volatility

Volatility by Period

	VWLUX	VTEL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.43%	3.78%	+1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.56%	3.78%	+0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.49%	3.78%	+0.71%