VIITX vs VWIUX
Vanguard Institutional Intermediate Term Bond Fund Institutional Plus Class vs Vanguard Intermediate Term Tax-Exempt Fund admiral class
Quick Verdict
VIITX has a lower expense ratio. VWIUX delivered stronger 1-year returns. VWIUX offers more diversification with 15,066 holdings.
Side-by-Side Comparison
| Metric | VIITX | VWIUX | Winner |
|---|---|---|---|
| Expense Ratio | 0.02% | 0.09% | |
| AUM | - | $86.4B | |
| Dividend Yield | 4.59% | 3.13% | |
| Holdings | 2,599 | 15,066 | |
| YTD Return | -1.85% | -1.30% | |
| 1Y Return | -1.35% | +1.19% | |
| 3Y Return (annualized) | +0.64% | +0.57% | |
| 5Y Return (annualized) | -2.29% | -1.73% | |
| Volatility (annualized) | 4.2% | 5.4% | |
| Max Drawdown | -15.0% | -16.1% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Tax Preferred | |
| Inception | Dec 1, 1997 | Feb 12, 2001 |
VIITX vs VWIUX Performance
Vanguard Institutional Intermediate Term Bond Fund Institutional Plus Class (VIITX) is a mutual fund from Vanguard (US) and Vanguard Intermediate Term Tax-Exempt Fund admiral class (VWIUX) is a mutual fund from Vanguard (US). Over the past year VIITX returned -1.35% while VWIUX returned +1.19%. Year to date, VIITX is down 1.85% versus a loss of 1.30% for VWIUX.
Over three years, VIITX compounded at +0.64% per year against +0.57% for VWIUX; over five years the annualized figures are -2.29% and -1.73% respectively. Across the full 5-year window we track, VWIUX has the edge at -1.73% annualized vs -2.29%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VWIUX has been the more volatile fund, with annualized monthly volatility of 5.4% compared with 4.2% for VIITX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -15.0% for VIITX and -16.1% for VWIUX. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
VIITX charges 0.02% per year while VWIUX charges 0.09%. On a $10,000 position that is $2 vs $9 annually, a gap of $7 per year that compounds over a long holding period. On income, VIITX currently yields 4.59% against 3.13% for VWIUX.
Holdings Overlap
VIITX and VWIUX share 0 holdings out of 2948 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, VIITX or VWIUX?
VIITX has an expense ratio of 0.02% while VWIUX charges 0.09%. VIITX is the cheaper option. On a $10,000 investment, that is $7 per year of difference.
Which performed better, VIITX or VWIUX?
Over the past year VIITX returned -1.35% vs +1.19% for VWIUX, so VWIUX leads on 1-year performance. Over the longest common window we track (5 years), VIITX annualized -2.29% vs -1.73% for VWIUX. Past performance does not guarantee future results.
Which is riskier, VIITX or VWIUX?
VWIUX has been the more volatile fund at 5.4% annualized versus 4.2% for VIITX. Worst drawdown: VIITX -15.0% vs VWIUX -16.1%.
Should I hold both VIITX and VWIUX?
VIITX and VWIUX have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between VIITX and VWIUX?
VIITX and VWIUX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2948 unique securities.
Which pays a higher dividend, VIITX or VWIUX?
VIITX yields 4.59% while VWIUX yields 3.13%, so VIITX currently pays the higher dividend yield.
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