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Vanguard Long-Term Tax-Exempt Fund Admiral Shares VWLUX
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | VWLUX | Replication |
|---|---|---|
| Annualized growth | -0.1% | -0.2% |
| Annualized volatility | 6.1% | 5.0% |
| Sharpe ratio | 0.01 | -0.01 |
| Maximum drawdown | 15.3% | 12.6% |
| Replication fit (R²) | 0.95 · Tracking error 1.3% | |
Replication portfolio
The published portfolio below is the investable basket used to model VWLUX’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| MUB | FI · Municipal | 94.1% |
| VCLT | FI · Long Corp | 5.9% |