VWSUX vs. VBTLX
VWSUX (Vanguard Short-Term Tax-Exempt Fund Admiral Shares) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - VWSUX is a Municipal Bonds fund managed by Vanguard, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VWSUX returned 2.01%/yr vs 1.56%/yr for VBTLX. At a 0.39 correlation, their price movements are largely independent. VWSUX charges 0.09%/yr vs 0.04%/yr for VBTLX.
Performance
VWSUX vs. VBTLX - Performance Comparison
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Returns By Period
In the year-to-date period, VWSUX achieves a 1.20% return, which is significantly higher than VBTLX's 0.21% return. Over the past 10 years, VWSUX has outperformed VBTLX with an annualized return of 2.01%, while VBTLX has yielded a comparatively lower 1.56% annualized return.
VWSUX
- 1D
- 0.06%
- 1M
- 0.38%
- YTD
- 1.20%
- 6M
- 1.54%
- 1Y
- 3.76%
- 3Y*
- 4.17%
- 5Y*
- 2.54%
- 10Y*
- 2.01%
VBTLX
- 1D
- -0.21%
- 1M
- 0.13%
- YTD
- 0.21%
- 6M
- 0.34%
- 1Y
- 4.47%
- 3Y*
- 3.97%
- 5Y*
- 0.10%
- 10Y*
- 1.56%
VWSUX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWSUX Vanguard Short-Term Tax-Exempt Fund Admiral Shares | 1.20% | 4.90% | 3.77% | 3.70% | -0.73% | 0.19% | 1.91% | 2.59% | 1.67% | 1.10% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.21% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VWSUX and VBTLX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001 | 0.39 |
The correlation between VWSUX and VBTLX shifts across timeframes, from 0.38 (10 years) to 0.52 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VWSUX vs. VBTLX — Risk / Return Rank
VWSUX
VBTLX
VWSUX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
| VWSUX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.16 | ||
| Sortino ratioReturn per unit of downside risk | +6.78 | ||
| Omega ratioGain probability vs. loss probability | 2.71 | 1.23 | +1.48 |
| Calmar ratioReturn relative to maximum drawdown | 5.57 | 1.78 | +3.79 |
| Martin ratioReturn relative to average drawdown | 24.88 | 5.33 | +19.56 |
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
| VWSUX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.46 | 1.30 | +2.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.09 | 0.02 | +2.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.80 | 0.31 | +1.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.05 | 0.76 | +1.30 |
Drawdowns
VWSUX vs. VBTLX - Drawdown Comparison
The maximum VWSUX drawdown since its inception was -3.08%, smaller than the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VWSUX and VBTLX.
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Drawdown Indicators
| VWSUX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.08% | -18.81% | +15.73% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -2.89% | +2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -1.01% | -6.00% | +4.99% |
Max Drawdown (5Y)Largest decline over 5 years | -2.23% | -18.14% | +15.91% |
Max Drawdown (10Y)Largest decline over 10 years | -3.08% | -18.81% | +15.73% |
Current DrawdownCurrent decline from peak | 0.00% | -2.38% | +2.38% |
Average DrawdownAverage peak-to-trough decline | -0.15% | -2.67% | +2.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.15% | 0.96% | -0.81% |
Volatility
VWSUX vs. VBTLX - Volatility Comparison
The current volatility for Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX) is 0.39%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.33%. This indicates that VWSUX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWSUX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 1.33% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 0.82% | 2.78% | -1.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.11% | 3.96% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.23% | 6.01% | -4.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.12% | 4.98% | -3.86% |
VWSUX vs. VBTLX - Expense Ratio Comparison
VWSUX has a 0.09% expense ratio, which is higher than VBTLX's 0.04% 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%.
Dividends
VWSUX vs. VBTLX - Dividend Comparison
VWSUX's dividend yield for the trailing twelve months is around 3.12%, less than VBTLX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.99% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
VWSUX Vanguard Short-Term Tax-Exempt Fund Admiral Shares | 3.12% | 4.00% | 3.82% | 2.27% | 1.24% | 0.63% | 1.26% | 1.79% | 1.53% | 1.16% | 0.97% | 0.78% |
Frequently Asked Questions
VWSUX and VBTLX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBTLX has higher volatility (1.33%) compared to VWSUX (0.39%). In terms of maximum drawdown, VWSUX dropped -3.08% vs VBTLX's -18.81%.
VWSUX currently has the higher Sharpe Ratio (3.46 vs 1.30), 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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