VWSUX vs. VWUSX

Last updated Jun 4, 2026

VWSUX (Vanguard Short-Term Tax-Exempt Fund Admiral Shares) and VWUSX (Vanguard U.S. Growth Fund Investor Shares) are both mutual funds - VWSUX is a Municipal Bonds fund managed by Vanguard, while VWUSX is a Large Cap Growth Equities fund managed by Vanguard. Over the past 10 years, VWSUX returned 2.01%/yr vs 19.18%/yr for VWUSX. At a correlation of -0.03, they often move in opposite directions. VWSUX charges 0.09%/yr vs 0.38%/yr for VWUSX.

Performance

VWSUX vs. VWUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX) and Vanguard U.S. Growth Fund Investor Shares (VWUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWSUX achieves a 1.14% return, which is significantly lower than VWUSX's 4.77% return. Over the past 10 years, VWSUX has underperformed VWUSX with an annualized return of 2.01%, while VWUSX has yielded a comparatively higher 19.18% annualized return.

VWSUX

• 1D: 0.00%
• 1M: 0.25%
• YTD: 1.14%
• 6M: 1.47%
• 1Y: 3.76%
• 3Y*: 4.14%
• 5Y*: 2.54%
• 10Y*: 2.01%

VWUSX

• 1D: -0.77%
• 1M: 5.91%
• YTD: 4.77%
• 6M: 3.34%
• 1Y: 17.71%
• 3Y*: 22.28%
• 5Y*: 13.33%
• 10Y*: 19.18%

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

VWSUX vs. VWUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWSUX Vanguard Short-Term Tax-Exempt Fund Admiral Shares	1.14%	4.90%	3.77%	3.70%	-0.73%	0.19%	1.91%	2.59%	1.67%	1.10%
VWUSX Vanguard U.S. Growth Fund Investor Shares	4.77%	15.39%	31.65%	45.17%	-39.64%	35.76%	58.63%	45.61%	0.65%	31.11%

Correlation

The correlation between VWSUX and VWUSX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Feb 13, 2001	-0.03

The correlation between VWSUX and VWUSX shifts across timeframes, from -0.03 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VWSUX vs. VWUSX — Risk / Return Rank

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

VWSUX

VWSUX Risk / Return Rank: 97
VWSUX Sharpe Ratio Rank: 95
VWSUX Sortino Ratio Rank: 99
VWSUX Omega Ratio Rank: 99
VWSUX Calmar Ratio Rank: 94
VWSUX Martin Ratio Rank: 96

VWUSX

VWUSX Risk / Return Rank: 13
VWUSX Sharpe Ratio Rank: 15
VWUSX Sortino Ratio Rank: 14
VWUSX Omega Ratio Rank: 15
VWUSX Calmar Ratio Rank: 9
VWUSX Martin Ratio Rank: 9

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.

VWSUX vs. VWUSX - 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 U.S. Growth Fund Investor Shares (VWUSX). 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	VWUSX	Difference
Sharpe ratio Return per unit of total volatility	3.40	1.11	+2.29
Sortino ratio Return per unit of downside risk	8.59	1.57	+7.02
Omega ratio Gain probability vs. loss probability	2.68	1.20	+1.48
Calmar ratio Return relative to maximum drawdown	5.47	0.96	+4.52
Martin ratio Return relative to average drawdown	24.46	2.85	+21.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWSUX vs. VWUSX - Sharpe Ratio Comparison

The current VWSUX Sharpe Ratio is 3.40, which is higher than the VWUSX Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of VWSUX and VWUSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VWSUX	VWUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.40	1.11	+2.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.09	0.50	+1.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.79	0.78	+1.01
Sharpe Ratio (All Time) Calculated using the full available price history	2.05	0.41	+1.64

Drawdowns

VWSUX vs. VWUSX - Drawdown Comparison

The maximum VWSUX drawdown since its inception was -3.08%, smaller than the maximum VWUSX drawdown of -73.31%. Use the drawdown chart below to compare losses from any high point for VWSUX and VWUSX.

Drawdown Indicators

	VWSUX	VWUSX	Difference
Max Drawdown Largest peak-to-trough decline	-3.08%	-73.31%	+70.23%
Max Drawdown (1Y) Largest decline over 1 year	-0.69%	-19.15%	+18.46%
Max Drawdown (3Y) Largest decline over 3 years	-1.01%	-25.01%	+24.00%
Max Drawdown (5Y) Largest decline over 5 years	-2.23%	-42.18%	+39.95%
Max Drawdown (10Y) Largest decline over 10 years	-3.08%	-42.18%	+39.10%
Current Drawdown Current decline from peak	0.00%	-0.77%	+0.77%
Average Drawdown Average peak-to-trough decline	-0.15%	-22.83%	+22.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	6.43%	-6.28%

Volatility

VWSUX vs. VWUSX - Volatility Comparison

The current volatility for Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX) is 0.38%, while Vanguard U.S. Growth Fund Investor Shares (VWUSX) has a volatility of 3.66%. This indicates that VWSUX experiences smaller price fluctuations and is considered to be less risky than VWUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWSUX	VWUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.38%	3.66%	-3.28%
Volatility (6M) Calculated over the trailing 6-month period	0.83%	12.49%	-11.66%
Volatility (1Y) Calculated over the trailing 1-year period	1.11%	16.60%	-15.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.23%	26.85%	-25.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.12%	24.64%	-23.52%

VWSUX vs. VWUSX - Expense Ratio Comparison

VWSUX has a 0.09% expense ratio, which is lower than VWUSX's 0.38% expense ratio.

Dividends

VWSUX vs. VWUSX - Dividend Comparison

VWSUX's dividend yield for the trailing twelve months is around 3.12%, less than VWUSX's 8.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VWUSX Vanguard U.S. Growth Fund Investor Shares	8.94%	9.37%	4.60%	0.28%	0.37%	30.03%	3.90%	11.66%	9.65%	4.63%	1.52%	8.95%

Frequently Asked Questions

Can I hold both VWSUX and VWUSX in my portfolio?

VWSUX and VWUSX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWSUX or VWUSX?

VWUSX has higher volatility (3.66%) compared to VWSUX (0.38%). In terms of maximum drawdown, VWSUX dropped -3.08% vs VWUSX's -73.31%.

Which has better risk-adjusted returns?

VWSUX currently has the higher Sharpe Ratio (3.40 vs 1.11), 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.