VWUSX vs. VWSUX

Last updated Jun 4, 2026

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

Performance

VWUSX vs. VWSUX - Performance Comparison

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

Returns By Period

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

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%

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%

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

VWUSX vs. VWSUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

VWUSX vs. VWSUX — Risk / Return Rank

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

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

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

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.

VWUSX vs. VWSUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Growth Fund Investor Shares (VWUSX) and Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX). 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.

	VWUSX	VWSUX	Difference
Sharpe ratio Return per unit of total volatility	1.11	3.40	-2.29
Sortino ratio Return per unit of downside risk	1.57	8.59	-7.02
Omega ratio Gain probability vs. loss probability	1.20	2.68	-1.48
Calmar ratio Return relative to maximum drawdown	0.96	5.47	-4.52
Martin ratio Return relative to average drawdown	2.85	24.46	-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.

VWUSX vs. VWSUX - Sharpe Ratio Comparison

The current VWUSX Sharpe Ratio is 1.11, which is lower than the VWSUX Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of VWUSX and VWSUX, 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

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

Drawdowns

VWUSX vs. VWSUX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

VWUSX vs. VWSUX - Volatility Comparison

Vanguard U.S. Growth Fund Investor Shares (VWUSX) has a higher volatility of 3.66% compared to Vanguard Short-Term Tax-Exempt Fund Admiral Shares (VWSUX) at 0.38%. This indicates that VWUSX's price experiences larger fluctuations and is considered to be riskier than VWSUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

VWUSX vs. VWSUX - Expense Ratio Comparison

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

Dividends

VWUSX vs. VWSUX - Dividend Comparison

VWUSX's dividend yield for the trailing twelve months is around 8.94%, more than VWSUX's 3.12% 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 VWUSX and VWSUX in my portfolio?

VWUSX and VWSUX 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, VWUSX or VWSUX?

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

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.