VMLUX vs VWIUX
Vanguard Limited Term Tax-Exempt Fund admiral class vs Vanguard Intermediate Term Tax-Exempt Fund admiral class
Which is better, VMLUX or VWIUX?
VMLUX and VWIUX are close on what we can measure.
The two have moved almost in lockstep, correlation 0.97.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | VMLUX | VWIUX |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $34.5B | $86.4B |
| Dividend Yield | 2.93% | 3.15% |
| Holdings | 7,398 | 16,181 |
| YTD Price Return | -1.27% | -3.12% |
| 1Y Price Return | -1.54% | -1.91% |
| 3Y Price Return (annualized) | +0.65% | +0.23% |
| 5Y Price Return (annualized) | -0.67% | -2.04% |
| Volatility (annualized) | 2.8%Best | 5.4% |
| Max Drawdown | -8.4%Best | -15.9% |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Feb 12, 2001 | Feb 12, 2001 |
Not shown on this pair: $10,000 over 5 years, Top 10 Weight.
A price return is not the return of a fund that pays its income out. The coupon or distribution never appears in the price, so the return rows carry no winner here. VMLUX currently yields 2.93% and VWIUX 3.15%.
Volatility and max drawdown are measured over the window both funds cover: Sep 13, 2021 to Sep 9, 2026 (5 years).
VMLUX vs VWIUX Performance
Vanguard Limited Term Tax-Exempt Fund admiral class (VMLUX) 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 VMLUX's price moved -1.54% and VWIUX's -1.91%, before the income each one paid out.
Over three years, VMLUX compounded at +0.65% per year against +0.23% for VWIUX; over five years the annualized figures are -0.67% and -2.04% respectively.
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 2.8% for VMLUX. 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 -8.4% for VMLUX and -15.9% for VWIUX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
VMLUX charges 0.09% per year while VWIUX charges 0.09%. On a $10,000 position that is $9 vs $9 annually. On income, VMLUX currently yields 2.93% against 3.15% for VWIUX.
Holdings Overlap
We hold position weights for 915 holdings in VMLUX and 1,763 in VWIUX, totalling 27.7% and 20.1% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 545 positions appear in both.
545 positions in common, counted across the 915 positions we hold weights for in VMLUX and 1,763 in VWIUX, against full books of 7,398 and 16,181.
Top Shared Holdings
| Stock | Weight in VMLUX | Weight in VWIUX | Difference |
|---|---|---|---|
| GA MAIUTL 09/01/2053Main Street Natural Gas Inc Ga Maiutl 09/53 Adjustable Var | 0.33% | 0.17% | 0.16% |
| KY KYSPWR 06/01/2055Kentucky St Public Energy Auth Kyspwr 06/55 Adjustable Var | 0.31% | 0.18% | 0.13% |
| CA CCEDEV 01/01/2055Ca Cmnty Choice- Frn 1/55 | 0.28% | 0.20% | 0.08% |
| NE CENPWR 05/01/2054Central Plains Energy Project, Nebraska, Gas Project 4 Revenue Bonds, Refunding Series 2023A-1 5 05-01-2054 | 0.28% | 0.20% | 0.08% |
| TN TNSUTL 05/01/2053Tennessee St Energy Acquisitio Regd V/R B/E 5.00000000 | 0.31% | 0.15% | 0.16% |
| AL BBEUTL 05/01/2053Black Belt Energy Al 22E (Mpt) Sf 5.0% 05-01-53/06-01-28 | 0.32% | 0.13% | 0.19% |
| NM NMSPWR 06/01/2054New Mexico St Muni Energy Acquisition Auth Gas Sply 5 06/01/2054 | 0.31% | 0.14% | 0.17% |
| AL BBEUTL 12/01/2052Black Belt Energy Gas District, Alabama, Gas Prepay Revenue Bonds, Project 8 Series 2022A | 0.28% | 0.13% | 0.15% |
| KY KYSPWR 12/01/2050Kentucky St Publi V/r 12/01/50 | 0.37% | 0.03% | 0.34% |
| TN TGYPWR 10/01/2054Tennergy Corp Tn V/R 10/01/54 | 0.24% | 0.15% | 0.09% |
You are not choosing between two funds in isolation.
Whichever of VMLUX and VWIUX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, VMLUX or VWIUX?
VMLUX has an expense ratio of 0.09% while VWIUX charges 0.09%. At the precision these are quoted to, they cost the same.
Which is riskier, VMLUX or VWIUX?
VWIUX has been the more volatile fund at 5.4% annualized versus 2.8% for VMLUX. Worst drawdown: VMLUX -8.4% vs VWIUX -15.9%.
Should I hold both VMLUX and VWIUX?
VMLUX and VWIUX have a monthly-return correlation of 0.97, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, VMLUX or VWIUX?
VMLUX yields 2.93% while VWIUX yields 3.15%, so VWIUX currently pays the higher dividend yield.
Is VWIUX better than VMLUX?
The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.