VWIUX vs VWO
Vanguard Intermediate Term Tax-Exempt Fund admiral class vs Vanguard FTSE Emerging Markets ETF
Quick Verdict
VWO has a lower expense ratio. VWO delivered stronger 1-year returns. VWIUX offers more diversification with 15,066 holdings.
Side-by-Side Comparison
| Metric | VWIUX | VWO | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.06% | |
| AUM | $86.4B | $122.0B | |
| Dividend Yield | 3.13% | 2.39% | |
| Holdings | 15,066 | 6,334 | |
| YTD Return | -1.81% | +10.18% | |
| 1Y Return | +0.89% | +20.99% | |
| 3Y Return (annualized) | +0.67% | +18.45% | |
| 5Y Return (annualized) | -1.82% | +7.14% | |
| Volatility (annualized) | 5.4% | 20.1% | |
| Max Drawdown | -16.1% | -68.3% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Feb 12, 2001 | Mar 4, 2005 |
VWIUX vs VWO Performance
Vanguard Intermediate Term Tax-Exempt Fund admiral class (VWIUX) is a mutual fund from Vanguard (US) and Vanguard FTSE Emerging Markets ETF (VWO) is a ETF from Vanguard (US). Over the past year VWIUX returned +0.89% while VWO returned +20.99%. Year to date, VWIUX is down 1.81% versus a gain of 10.18% for VWO.
Over three years, VWIUX compounded at +0.67% per year against +18.45% for VWO; over five years the annualized figures are -1.82% and +7.14% respectively. Across the full 5-year window we track, VWO has the edge at +4.98% annualized vs -1.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VWO has been the more volatile fund, with annualized monthly volatility of 20.1% compared with 5.4% for VWIUX. 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 -16.1% for VWIUX and -68.3% for VWO. 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
VWIUX charges 0.09% per year while VWO charges 0.06%. On a $10,000 position that is $9 vs $6 annually, a gap of $3 per year that compounds over a long holding period. On income, VWIUX currently yields 3.13% against 2.39% for VWO.
Holdings Overlap
VWIUX and VWO share 0 holdings out of 5747 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, VWIUX or VWO?
VWIUX has an expense ratio of 0.09% while VWO charges 0.06%. VWO is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, VWIUX or VWO?
Over the past year VWIUX returned +0.89% vs +20.99% for VWO, so VWO leads on 1-year performance. Over the longest common window we track (5 years), VWIUX annualized -1.82% vs +4.98% for VWO. Past performance does not guarantee future results.
Which is riskier, VWIUX or VWO?
VWO has been the more volatile fund at 20.1% annualized versus 5.4% for VWIUX. Worst drawdown: VWIUX -16.1% vs VWO -68.3%.
Should I hold both VWIUX and VWO?
VWIUX and VWO have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between VWIUX and VWO?
VWIUX and VWO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 5747 unique securities.
Which pays a higher dividend, VWIUX or VWO?
VWIUX yields 3.13% while VWO yields 2.39%, so VWIUX currently pays the higher dividend yield.
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