VWSTX vs. SUB
Compare and contrast key facts about Vanguard Short-Term Tax-Exempt Fund Investor Shares (VWSTX) and iShares Short-Term National Muni Bond ETF (SUB).
VWSTX is managed by Vanguard. It was launched on Sep 1, 1977. SUB is a passively managed fund by iShares that tracks the performance of the ICE Short Maturity AMT-Free US National Municipal Index - Benchmark TR Gross. It was launched on Nov 5, 2008.
Performance
VWSTX vs. SUB - Performance Comparison
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VWSTX vs. SUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWSTX Vanguard Short-Term Tax-Exempt Fund Investor Shares | 0.22% | 4.79% | 3.68% | 3.87% | -0.81% | 0.17% | 1.82% | 2.50% | 1.59% | 1.00% |
SUB iShares Short-Term National Muni Bond ETF | 0.23% | 3.64% | 2.17% | 2.91% | -2.05% | 0.03% | 2.51% | 2.93% | 1.85% | 0.75% |
Returns By Period
The year-to-date returns for both investments are quite close, with VWSTX having a 0.22% return and SUB slightly higher at 0.23%. Over the past 10 years, VWSTX has outperformed SUB with an annualized return of 1.87%, while SUB has yielded a comparatively lower 1.46% annualized return.
VWSTX
- 1D
- 0.00%
- 1M
- -0.69%
- YTD
- 0.22%
- 6M
- 0.88%
- 1Y
- 3.49%
- 3Y*
- 3.83%
- 5Y*
- 2.35%
- 10Y*
- 1.87%
SUB
- 1D
- 0.04%
- 1M
- -0.66%
- YTD
- 0.23%
- 6M
- 1.01%
- 1Y
- 3.37%
- 3Y*
- 2.75%
- 5Y*
- 1.39%
- 10Y*
- 1.46%
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VWSTX vs. SUB - Expense Ratio Comparison
VWSTX has a 0.17% expense ratio, which is higher than SUB's 0.07% 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%.
Return for Risk
VWSTX vs. SUB — Risk / Return Rank
VWSTX
SUB
VWSTX vs. SUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Tax-Exempt Fund Investor Shares (VWSTX) and iShares Short-Term National Muni Bond ETF (SUB). 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.
| VWSTX | SUB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.74 | 2.25 | +0.49 |
Sortino ratioReturn per unit of downside risk | 5.45 | 2.71 | +2.74 |
Omega ratioGain probability vs. loss probability | 2.30 | 1.61 | +0.69 |
Calmar ratioReturn relative to maximum drawdown | 4.12 | 2.82 | +1.30 |
Martin ratioReturn relative to average drawdown | 18.74 | 10.30 | +8.44 |
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
| VWSTX | SUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 2.25 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.99 | 0.85 | +1.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.71 | 0.56 | +1.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.03 | 0.42 | +1.61 |
Correlation
The correlation between VWSTX and SUB is 0.26, 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
VWSTX vs. SUB - Dividend Comparison
VWSTX's dividend yield for the trailing twelve months is around 3.11%, more than SUB's 2.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWSTX Vanguard Short-Term Tax-Exempt Fund Investor Shares | 3.11% | 3.90% | 3.73% | 2.42% | 1.16% | 0.61% | 1.17% | 1.71% | 1.45% | 1.06% | 0.87% | 0.70% |
SUB iShares Short-Term National Muni Bond ETF | 2.27% | 2.42% | 2.10% | 1.73% | 0.86% | 0.72% | 1.23% | 1.58% | 1.32% | 0.95% | 0.75% | 0.77% |
Drawdowns
VWSTX vs. SUB - Drawdown Comparison
The maximum VWSTX drawdown since its inception was -3.09%, smaller than the maximum SUB drawdown of -9.46%. Use the drawdown chart below to compare losses from any high point for VWSTX and SUB.
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Drawdown Indicators
| VWSTX | SUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.09% | -9.46% | +6.37% |
Max Drawdown (1Y)Largest decline over 1 year | -1.01% | -1.23% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -2.32% | -4.35% | +2.03% |
Max Drawdown (10Y)Largest decline over 10 years | -3.08% | -9.46% | +6.38% |
Current DrawdownCurrent decline from peak | -0.69% | -0.66% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.32% | -0.92% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 0.34% | -0.12% |
Volatility
VWSTX vs. SUB - Volatility Comparison
The current volatility for Vanguard Short-Term Tax-Exempt Fund Investor Shares (VWSTX) is 0.28%, while iShares Short-Term National Muni Bond ETF (SUB) has a volatility of 0.53%. This indicates that VWSTX experiences smaller price fluctuations and is considered to be less risky than SUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWSTX | SUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 0.53% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 0.75% | 0.80% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.51% | 1.51% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.19% | 1.64% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.10% | 2.59% | -1.49% |