VWSTX vs. VWITX
VWSTX (Vanguard Short-Term Tax-Exempt Fund Investor Shares) and VWITX (Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares) are both Municipal Bonds funds from Vanguard. Over the past 10 years, VWSTX returned 1.91%/yr vs 2.12%/yr for VWITX. Their 0.58 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.17% expense ratio.
Performance
VWSTX vs. VWITX - Performance Comparison
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Returns By Period
In the year-to-date period, VWSTX achieves a 1.10% return, which is significantly higher than VWITX's -0.11% return. Over the past 10 years, VWSTX has underperformed VWITX with an annualized return of 1.91%, while VWITX has yielded a comparatively higher 2.12% annualized return.
VWSTX
- 1D
- 0.00%
- 1M
- -0.32%
- 6M
- 0.61%
- YTD
- 1.10%
- 1Y
- 2.56%
- 3Y*
- 3.95%
- 5Y*
- 2.47%
- 10Y*
- 1.91%
- ALL TIME*
- 2.11%
VWITX
- 1D
- -0.22%
- 1M
- -1.81%
- 6M
- -1.02%
- YTD
- -0.11%
- 1Y
- 4.05%
- 3Y*
- 3.74%
- 5Y*
- 1.19%
- 10Y*
- 2.12%
- ALL TIME*
- 3.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VWSTX vs. VWITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWSTX Vanguard Short-Term Tax-Exempt Fund Investor Shares | 1.10% | 4.79% | 3.68% | 3.87% | -0.81% | 0.17% | 1.82% | 2.50% | 1.59% | 1.00% |
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | -0.11% | 5.89% | 2.23% | 5.82% | -6.90% | 0.74% | 5.14% | 7.01% | 1.26% | 4.54% |
Correlation
The correlation between VWSTX and VWITX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1980 | 0.58 |
The correlation between VWSTX and VWITX shifts across timeframes, from 0.58 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VWSTX vs. VWITX — Risk / Return Rank
VWSTX
VWITX
VWSTX vs. VWITX - 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 Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VWSTX | VWITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +3.07 | ||
| Omega ratioGain probability vs. loss probability | 2.03 | 1.47 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 4.29 | 1.61 | +2.68 |
| Martin ratioReturn relative to average drawdown | 17.76 | 4.72 | +13.04 |
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Drawdowns
VWSTX vs. VWITX - Drawdown Comparison
The maximum VWSTX drawdown since its inception was -3.09%, smaller than the maximum VWITX drawdown of -29.13%. Use the drawdown chart below to compare losses from any high point for VWSTX and VWITX.
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Drawdown Indicators
| VWSTX | VWITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.09% | -29.13% | +26.04% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -2.99% | +2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -1.01% | -4.02% | +3.01% |
Max Drawdown (5Y)Largest decline over 5 years | -2.32% | -11.46% | +9.14% |
Max Drawdown (10Y)Largest decline over 10 years | -3.08% | -11.46% | +8.38% |
Current DrawdownCurrent decline from peak | -0.32% | -2.28% | +1.96% |
Average DrawdownAverage peak-to-trough decline | -0.32% | -3.57% | +3.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 1.02% | -0.85% |
Volatility
VWSTX vs. VWITX - Volatility Comparison
The current volatility for Vanguard Short-Term Tax-Exempt Fund Investor Shares (VWSTX) is 0.20%, while Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) has a volatility of 0.79%. This indicates that VWSTX experiences smaller price fluctuations and is considered to be less risky than VWITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWSTX | VWITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 0.79% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 0.84% | 2.01% | -1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.12% | 2.44% | -1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.22% | 3.28% | -2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.12% | 3.42% | -2.30% |
VWSTX vs. VWITX - Expense Ratio Comparison
Both VWSTX and VWITX have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VWSTX vs. VWITX - Dividend Comparison
VWSTX's dividend yield for the trailing twelve months is around 2.79%, less than VWITX's 3.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 3.05% | 3.96% | 3.53% | 2.70% | 2.43% | 1.83% | 2.32% | 2.80% | 2.80% | 2.72% | 2.80% | 2.88% |
VWSTX Vanguard Short-Term Tax-Exempt Fund Investor Shares | 2.79% | 3.90% | 3.73% | 2.42% | 1.16% | 0.61% | 1.17% | 1.71% | 1.45% | 1.06% | 0.87% | 0.70% |
Frequently Asked Questions
VWSTX and VWITX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWITX has higher volatility (0.79%) compared to VWSTX (0.20%). In terms of maximum drawdown, VWSTX dropped -3.09% vs VWITX's -29.13%.
VWSTX currently has the higher Sharpe Ratio (2.65 vs 1.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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