Mutual Fund Insights: Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

In-depth Analysis of Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

3 months 6 months 1 year 3 year 5 year

See Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) performance details as of February 28, 2010

  

Last Trade: $10.42 on 3/19/2010, Change: 0.00 (0%)

  

Fund Manager - Christopher W. Alwine

Fund Manager Tenure: 0.6 years   [Similar Funds: VWAHX ]
Fundmojo Fund Grade: N/A (Score: *manager is new*)     (What does this score mean?)

Christopher W. Alwine, CFA, Principal of Vanguard. Christopher W. Alwine has been with Vanguard since 1990; has worked in investment management since 1991; has managed investment portfolios since 1996; and has managed the High-Yield Tax-Exempt and Long-Term Tax-Exempt Funds since July 2009. Education: B.B.A., Temple University; M.S., Drexel University.  Get more insights on Christopher W. Alwine

  

 What we like about Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

Data for Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) as of February 28, 2010

• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) is a new fund and has been performing well against its peers for both one-month and three_month performance
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) has good Long-term performance (5-year return 4.03% vs 3.70 % Muni National Interm category average)
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) ratio of up-years vs down years is greater than 2
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) has a Morningstar rating of 4 and above
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) has an annual stock turnover rate of 23.00% vs Muni National Interm average of 42.33%. It is good that Vanguard High-Yield Tax-Exempt Adm management does not trade extensively for its return.
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) has a lower management fee than its Muni National Interm average: 0.12% vs 0.90%
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) is a true no-load fund as it has no load and no 12b1 promotion, distributions, marketing expenses

  

 What we are cautious about Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

Data for Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) as of February 28, 2010

• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) management has been with Vanguard High-Yield Tax-Exempt Adm Fund for only 0.6 years, it is hard to judge manager's ability based on this fund's operation record
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) has a less-than-ideal short-term performance (1-year return 15.63% vs 9.19 % Muni National Interm category average)
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) has a less-than-ideal mid-term performance (3-year return 3.28% vs 4.00 % Muni National Interm category average)
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) does not have a good risk adjusted return as its 3-year Alpha of -1.64 is worse than category average of -0.17, and its 3-year Sharpe ratio is 0.22
• Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) is more volatile than its peers as it has a 3-year Standard Deviation of 7.68 that is higher than category average of 5.39

See Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) performance details as of February 28, 2010

  

  

Interested in other top mutual funds in similar Muni National Interm category?

Below are some additional Muni National Interm mutual funds generated out of our database

• Marshall Intermediate Tax-Free Inv (MITFX)    [ Compare with Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) ]
• See top fund managers for Muni National Interm Category Funds
• Browse other funds in Muni National Interm Category

  

Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) Net Asset

Track net asset change of Vanguard High-Yield Tax-Exempt Adm fund (VWALX)

Date	Net Asset
02/2010	$6.53B
01/2010	$4.58B
11/2009	$4.48B

More historic net asset information on Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

  

Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) Portfolio Allocation

Track portfolio allocation change of Vanguard High-Yield Tax-Exempt Adm fund (VWALX)

Date	Cash	Stock	Bond	Other
09/2009	1.44%	0%	98.56%	0%
07/2009	1.28%	0%	98.72%	0%
06/2009	1.04%	0%	98.96%	0%

Click here to see more historic asset allocation information on Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

  

Most Recent Top 10 Holdings in Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

Discover what Vanguard High-Yield Tax-Exempt Adm Fund (VWALX) manager is buying

30-Sep-09 CMT MUNICIPAL RATE 4.01% [1.53%] California Hsg Fin Agy Rev Var Rev B [0.69%] Texas Mun Pwr Agy Rev Ref Rev B [0.64%] California St Go And Go 4.5% [0.64%] Lee Mem Health Sys Fla Hosp Re Hos 5.25% [0.63%] Michigan St Hosp Fin Auth 5.25% [0.62%] Tobacco Settlement Fing Corp N As 4.625% [0.6%] Michigan St Hsg Dev Auth [0.59%] St John Baptist Parish La Rev Rev 5.125% [0.56%] Louisiana Pub Facs Auth 5.25% [0.56%]

31-Jul-09 CMT MUNICIPAL RATE 4.01% [1.46%] California St Go And Go 4.5% [0.77%] Lee Mem Health Sys Fla Hosp Re Hos 5.25% [0.74%] Texas Mun Pwr Agy Rev Ref Rev B [0.67%] MICHIGAN ST HSG DEV AUTH RENTA RENTAL HS [0.65%] Texas St Dept Of Hsg & Cmnty A Var Rev B [0.58%] PUERTO RICO PUB FIN CORP COMMONWEA [0.57%] Michigan St Hosp Fin Auth 5.25% [0.56%] St John Baptist Parish La Rev Rev 5.125% [0.56%] Floyd Cnty Ga Dev Auth [0.56%]

30-Jun-09 CMT MUNICIPAL RATE 4.01% [1.15%] Lee Mem Health Sys Fla Hosp Re Hos 5.25% [0.75%] California St Go And Go 4.5% [0.71%] Texas Mun Pwr Agy Rev Ref Rev B [0.67%] MICHIGAN ST HSG DEV AUTH RENTA RENTAL HS [0.67%] Texas St Dept Of Hsg & Cmnty A Var Rev B [0.6%] PUERTO RICO PUB FIN CORP COMMONWEA [0.58%] Floyd Cnty Ga Dev Auth [0.57%] Texas Mun Gas Acquisition & Su Rev Bds [0.57%] Michigan St Hosp Fin Auth 5.25% [0.56%]

Click here for Stock Holding Change Map in Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

  

Related books and products to Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

  

Latest News on Vanguard High-Yield Tax-Exempt Adm (VWALX)

See what is happening with Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

Yahoo! Finance: RSS feed not found See more news on Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

 

Books and Resources

 

 

See more information on Vanguard High-Yield Tax-Exempt Adm Fund (VWALX)

• Vanguard High-Yield Tax-Exempt Adm Fund Insights
• Vanguard High-Yield Tax-Exempt Adm Fund Performance Data
• Vanguard High-Yield Tax-Exempt Adm Fund News
• Vanguard High-Yield Tax-Exempt Adm Fund Score Explaination
• Vanguard High-Yield Tax-Exempt Adm Fund Manager Information
• Historic Vanguard High-Yield Tax-Exempt Adm Fund Asset Allocation Report
• Historic Vanguard High-Yield Tax-Exempt Adm Fund Top 10 Holding Tracking
• Historic Vanguard High-Yield Tax-Exempt Adm Fund Asset Under Management Tracking