VTES vs PXH
Comparison between VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF ETF SHARES (VTES, ETF) and INVESCO RAFI EMERGING MARKETS ETF (PXH, ETF).
VTES vs PXH - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
VTES
$1.80B
PXH
$1.80B
Expense Ratio
Winner
VTES
0.05%
PXH
0.47%
Max Drawdown
Winner
VTES
3.63%
PXH
64.04%
Sharpe Ratio
VTES
0.20
Winner
PXH
2.13
5Y Beta
Winner
VTES
0.01
PXH
0.69
5Y Dividends CAGR
VTES
N/A
PXH
12.94%
VTES vs PXH - Historical Returns
Returns include dividend reinvestment.
1M
VTES
-0.00%
Winner
PXH
+6.03%
3M
VTES
-0.56%
Winner
PXH
+4.41%
6M
VTES
+0.97%
Winner
PXH
+14.99%
1Y
VTES
+4.01%
Winner
PXH
+39.89%
5Y(CAGR)
VTES
N/A
PXH
+9.64%
10Y(CAGR)
VTES
N/A
PXH
+11.11%
Max(CAGR)
VTES
+3.08%
Winner
PXH
+3.80%
VTES vs PXH - Annual Returns (2007 - 2026)
Returns include dividend reinvestment.
| Year | VTES | PXH |
|---|---|---|
| 2026 | +0.37% | +11.65% |
| 2025 | +4.08% | +32.33% |
| 2024 | +2.02% | +13.60% |
| 2023 | +3.32% | +13.38% |
| 2022 | N/A | -15.91% |
| 2021 | N/A | +8.12% |
| 2020 | N/A | -4.00% |
| 2019 | N/A | +15.53% |
| 2018 | N/A | -10.54% |
| 2017 | N/A | +24.12% |
| 2016 | N/A | +36.69% |
| 2015 | N/A | -21.91% |
| 2014 | N/A | -3.34% |
| 2013 | N/A | -9.11% |
| 2012 | N/A | +12.13% |
| 2011 | N/A | -20.56% |
| 2010 | N/A | +10.08% |
| 2009 | N/A | +60.24% |
| 2008 | N/A | -44.13% |
| 2007 | N/A | +1.04% |
VTES vs PXH Drawdown Comparison
The maximum drawdown for VTES was -2.42%, occurring on Oct 3, 2023. Recovery took 160 trading sessions.
The maximum drawdown for PXH was -63.64%, occurring on Nov 20, 2008. Recovery took 866 trading sessions.
The current VTES drawdown is -0.86%. The current PXH drawdown is -0.41%.
| Rank | VTES | PXH |
|---|---|---|
| #1 | -2.42% Apr 12, 2023 - Nov 29, 2023 | -63.64% Oct 29, 2007 - Apr 6, 2011 |
| #2 | -1.59% Apr 4, 2025 - Jun 11, 2025 | -49.58% Apr 7, 2011 - Jan 2, 2018 |
| #3 | -1.47% Feb 27, 2026 - Mar 24, 2026 | -40.40% Jan 26, 2018 - Feb 11, 2021 |
| #4 | -1.04% Mar 8, 2024 - Jul 8, 2024 | -29.62% Feb 16, 2022 - May 16, 2024 |
| #5 | -0.82% Dec 6, 2024 - Feb 4, 2025 | -17.73% Oct 7, 2024 - Jun 9, 2025 |
| #6 | -0.78% Feb 28, 2025 - Apr 4, 2025 | -10.24% Feb 25, 2026 - May 5, 2026 |
| #7 | -0.78% Oct 2, 2024 - Nov 29, 2024 | -9.29% Jun 10, 2021 - Feb 9, 2022 |
| #8 | -0.55% Dec 29, 2023 - Feb 1, 2024 | -8.97% May 17, 2024 - Sep 24, 2024 |
| #9 | -0.50% Sep 16, 2025 - Dec 18, 2025 | -6.09% Oct 12, 2007 - Oct 26, 2007 |
| #10 | -0.43% Feb 1, 2024 - Mar 6, 2024 | -5.49% Feb 17, 2021 - May 7, 2021 |
| #11 | -0.31% Mar 17, 2023 - Mar 22, 2023 | -4.78% Oct 6, 2025 - Oct 20, 2025 |
| #12 | -0.22% Feb 5, 2025 - Feb 21, 2025 | -4.18% May 7, 2021 - May 27, 2021 |
| #13 | -0.19% Aug 6, 2024 - Aug 14, 2024 | -4.06% Nov 12, 2025 - Jan 2, 2026 |
| #14 | -0.15% Aug 13, 2025 - Aug 22, 2025 | -3.69% Jul 23, 2025 - Aug 12, 2025 |
| #15 | -0.15% Jan 16, 2026 - Jan 23, 2026 | -3.46% Jan 29, 2026 - Feb 11, 2026 |
Correlation
Correlation between VTES and PXH is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.
0.96
-101
Dividend Comparison (2007 - 2026)
VTES vs PXH dividend yield comparison.
| Year | VTES | PXH |
|---|---|---|
| 2026 | 0.90% | 0.32% |
| 2025 | 2.77% | 4.02% |
| 2024 | 2.99% | 4.43% |
| 2023 | 2.03% | 4.84% |
| 2022 | 0.00% | 5.33% |
| 2021 | 0.00% | 4.69% |
| 2020 | 0.00% | 2.79% |
| 2019 | 0.00% | 3.28% |
| 2018 | 0.00% | 3.30% |
| 2017 | 0.00% | 2.74% |
| 2016 | 0.00% | 1.97% |
| 2015 | 0.00% | 3.44% |
| 2014 | 0.00% | 3.19% |
| 2013 | 0.00% | 2.80% |
| 2012 | 0.00% | 2.08% |
| 2011 | 0.00% | 2.46% |
| 2010 | 0.00% | 1.05% |
| 2009 | 0.00% | 0.83% |
| 2008 | 0.00% | 2.79% |
| 2007 | 0.00% | 0.44% |
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