Vanguard MA Tax-Exempt Inv
Fund
VMATX
Price as of:
$11.39
+ $0.01
+ 0.09%
Primary Theme
fund company
share class
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
Vitals
YTD Return
-0.4%
1 yr return
3.1%
3 Yr Avg Return
6.2%
5 Yr Avg Return
3.8%
Net Assets
$2.74 B
Holdings in Top 10
9.8%
52 WEEK LOW AND HIGH
$11.4
$11.26
$11.55
Expenses
OPERATING FEES
Expense Ratio 0.13%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 27.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$3,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Investment Style
Muni Massachusetts
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
VMATX - Profile
Distributions
- YTD Total Return -0.4%
- 3 Yr Annualized Total Return 6.2%
- 5 Yr Annualized Total Return 3.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.55%
- Dividend Yield 3.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVanguard Massachusetts Tax-Exempt Fund
-
Fund Family NameVanguard
-
Inception DateDec 09, 1998
-
Shares OutstandingN/A
-
Share ClassInv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerStephen McFee
Fund Description
The fund invests primarily in high-quality municipal bonds issued by Massachusetts state and local governments, as well as by regional governmental and public financing authorities. Under normal circumstances, at least 80% of its assets will be invested in securities whose income is exempt from federal and Massachusetts state taxes. Although the fund has no limitations on the maturities of individual securities, its dollar-weighted average maturity is expected to be between 10 and 25 years. It is non-diversified.
VMATX - Performance
Return Ranking - Trailing
| Period | VMATX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.4% | -88.5% | 101.7% | 45.43% |
| 1 Yr | 3.1% | -20.5% | 20.4% | 44.26% |
| 3 Yr | 6.2%* | -6.2% | 11.6% | 10.16% |
| 5 Yr | 3.8%* | -3.5% | 6.9% | 9.98% |
| 10 Yr | 4.1%* | -0.2% | 8.8% | 25.16% |
* Annualized
Return Ranking - Calendar
| Period | VMATX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 3.1% | -91.1% | 310.0% | 6.49% |
| 2019 | 5.0% | -79.8% | 15.4% | 15.93% |
| 2018 | -2.6% | -72.6% | 97.2% | 55.89% |
| 2017 | 2.9% | -100.0% | 7.6% | 15.02% |
| 2016 | -3.5% | -35.9% | 96.8% | 77.41% |
Total Return Ranking - Trailing
| Period | VMATX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.4% | -88.5% | 101.3% | 45.34% |
| 1 Yr | 3.1% | -24.2% | 24.2% | 29.33% |
| 3 Yr | 6.2%* | -7.0% | 11.7% | 9.90% |
| 5 Yr | 3.8%* | -4.0% | 6.9% | 8.41% |
| 10 Yr | 4.1%* | -0.5% | 8.8% | 21.41% |
* Annualized
Total Return Ranking - Calendar
| Period | VMATX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 3.1% | -91.1% | 310.0% | 6.49% |
| 2019 | 5.0% | -79.8% | 15.4% | 16.03% |
| 2018 | -2.6% | -72.6% | 11.0% | 57.18% |
| 2017 | 2.9% | -100.0% | 7.6% | 17.45% |
| 2016 | -3.5% | -35.9% | 3.0% | 79.37% |
NAV & Total Return History
VMATX - Holdings
Concentration Analysis
| VMATX | Category Low | Category High | VMATX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.74 B | 871 K | 88.1 B | 15.54% |
| Number of Holdings | 783 | 1 | 12437 | 10.63% |
| Net Assets in Top 10 | 260 M | -306 M | 3.88 B | 11.49% |
| Weighting of Top 10 | 9.76% | 2.4% | 100.0% | 87.42% |
Top 10 Holdings
- MASSACHUSETTS ST DEV FIN AGY REV 1.46%
- MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV 1.17%
- MASSACHUSETTS ST HEALTH & EDL FACS AUTH 1.08%
- MASSACHUSETTS ST SPL OBLIG DEDICATED TAX REV 0.98%
- MASSACHUSETTS ST DEV FIN AGY REV 0.94%
- MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV 0.93%
- MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV 0.89%
- MASSACHUSETTS ST DEV FIN AGY REV 0.89%
- MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV 5% 0.86%
- MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV 0.83%
Asset Allocation
| Weighting | Return Low | Return High | VMATX % Rank | |
|---|---|---|---|---|
| Bonds | 99.70% | 46.14% | 149.06% | 47.51% |
| Cash | 0.30% | -45.79% | 53.86% | 51.61% |
| Stocks | 0.00% | -0.10% | 3.42% | 45.82% |
| Preferred Stocks | 0.00% | -3.40% | 1.12% | 42.34% |
| Other | 0.00% | -49.33% | 30.00% | 43.66% |
| Convertible Bonds | 0.00% | -0.02% | 0.75% | 42.96% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | VMATX % Rank | |
|---|---|---|---|---|
| Municipal | 99.70% | 46.14% | 100.00% | 42.71% |
| Cash & Equivalents | 0.30% | 0.00% | 53.86% | 55.89% |
| Derivative | 0.00% | 0.00% | 1.12% | 45.35% |
| Securitized | 0.00% | 0.00% | 8.03% | 46.25% |
| Corporate | 0.00% | 0.00% | 11.97% | 54.00% |
| Government | 0.00% | 0.00% | 50.89% | 48.97% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | VMATX % Rank | |
|---|---|---|---|---|
| US | 99.12% | 0.00% | 141.11% | 35.58% |
| Non US | 0.58% | 0.00% | 100.00% | 49.14% |
VMATX - Expenses
Operational Fees
| VMATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.13% | 0.04% | 4.23% | 99.05% |
| Management Fee | 0.12% | 0.00% | 1.60% | 2.94% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.47% | N/A |
Sales Fees
| VMATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 0.25% | 5.50% | N/A |
Trading Fees
| VMATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| VMATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 27.00% | 0.00% | 314.00% | 71.15% |
VMATX - Distributions
Dividend Yield Analysis
| VMATX | Category Low | Category High | VMATX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.70% | 0.00% | 35.27% | 50.54% |
Dividend Distribution Analysis
| VMATX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| VMATX | Category Low | Category High | VMATX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.55% | -1.30% | 24.00% | 26.67% |
Capital Gain Distribution Analysis
| VMATX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually |
Dividend Payout History
| Date | Amount |
|---|---|
| Apr 01, 2019 | $0.028 |
| Mar 01, 2019 | $0.025 |
| Feb 01, 2019 | $0.028 |
| Jan 02, 2019 | $0.028 |
| Dec 03, 2018 | $0.027 |
| Nov 01, 2018 | $0.028 |
| Sep 04, 2018 | $0.028 |
| Aug 01, 2018 | $0.027 |
| Jul 02, 2018 | $0.027 |
| Jun 01, 2018 | $0.028 |
| May 01, 2018 | $0.027 |
| Apr 02, 2018 | $0.027 |
| Mar 01, 2018 | $0.024 |
| Feb 01, 2018 | $0.027 |
| Jan 02, 2018 | $0.027 |
| Dec 01, 2017 | $0.026 |
| Nov 01, 2017 | $0.027 |
| Oct 02, 2017 | $0.025 |
| Sep 01, 2017 | $0.026 |
| Aug 01, 2017 | $0.027 |
| Jul 03, 2017 | $0.026 |
| Jun 01, 2017 | $0.027 |
| May 01, 2017 | $0.026 |
| Apr 03, 2017 | $0.027 |
| Mar 01, 2017 | $0.025 |
| Feb 01, 2017 | $0.027 |
| Jan 03, 2017 | $0.027 |
| Dec 01, 2016 | $0.026 |
| Nov 01, 2016 | $0.027 |
| Oct 03, 2016 | $0.026 |
| Sep 01, 2016 | $0.027 |
| Aug 01, 2016 | $0.027 |
| Jul 01, 2016 | $0.026 |
| Jun 01, 2016 | $0.027 |
| May 02, 2016 | $0.027 |
| Apr 01, 2016 | $0.028 |
| Mar 01, 2016 | $0.026 |
| Feb 01, 2016 | $0.028 |
| Jan 04, 2016 | $0.028 |
| Dec 01, 2015 | $0.027 |
| Nov 02, 2015 | $0.028 |
| Oct 01, 2015 | $0.028 |
| Sep 01, 2015 | $0.029 |
| Aug 03, 2015 | $0.029 |
| Jul 01, 2015 | $0.028 |
| Jun 01, 2015 | $0.028 |
| May 01, 2015 | $0.028 |
| Apr 01, 2015 | $0.028 |
| Mar 02, 2015 | $0.025 |
| Feb 02, 2015 | $0.028 |
| Jan 02, 2015 | $0.028 |
| Dec 01, 2014 | $0.028 |
| Nov 03, 2014 | $0.028 |
| Oct 01, 2014 | $0.027 |
| Sep 02, 2014 | $0.029 |
| Aug 01, 2014 | $0.029 |
| Jul 01, 2014 | $0.029 |
| Jun 02, 2014 | $0.029 |
| May 01, 2014 | $0.029 |
| Apr 01, 2014 | $0.030 |
| Mar 03, 2014 | $0.027 |
| Feb 03, 2014 | $0.030 |
| Jan 02, 2014 | $0.030 |
| Dec 02, 2013 | $0.029 |
| Nov 01, 2013 | $0.029 |
| Oct 01, 2013 | $0.028 |
| Sep 03, 2013 | $0.029 |
| Aug 01, 2013 | $0.029 |
| Jul 01, 2013 | $0.028 |
| Jun 03, 2013 | $0.028 |
| May 01, 2013 | $0.028 |
| Apr 01, 2013 | $0.029 |
| Mar 01, 2013 | $0.026 |
| Feb 01, 2013 | $0.029 |
| Jan 02, 2013 | $0.028 |
| Dec 03, 2012 | $0.028 |
| Nov 01, 2012 | $0.028 |
| Oct 01, 2012 | $0.028 |
| Sep 04, 2012 | $0.029 |
| Aug 01, 2012 | $0.030 |
| Jul 02, 2012 | $0.029 |
| Jun 01, 2012 | $0.030 |
| May 01, 2012 | $0.029 |
| Apr 02, 2012 | $0.030 |
| Mar 01, 2012 | $0.028 |
| Feb 01, 2012 | $0.030 |
| Jan 03, 2012 | $0.030 |
| Dec 01, 2011 | $0.029 |
| Nov 01, 2011 | $0.031 |
| Oct 03, 2011 | $0.030 |
| Sep 01, 2011 | $0.031 |
| Aug 01, 2011 | $0.031 |
| Jul 01, 2011 | $0.030 |
| Jun 01, 2011 | $0.031 |
| May 02, 2011 | $0.031 |
| Apr 01, 2011 | $0.031 |
| Mar 01, 2011 | $0.028 |
| Feb 01, 2011 | $0.032 |
| Jan 03, 2011 | $0.031 |
| Dec 01, 2010 | $0.030 |
| Nov 01, 2010 | $0.031 |
| Oct 01, 2010 | $0.031 |
| Sep 01, 2010 | $0.031 |
| Aug 02, 2010 | $0.032 |
| Jul 01, 2010 | $0.032 |
| Jun 01, 2010 | $0.034 |
| May 03, 2010 | $0.033 |
| Apr 01, 2010 | $0.034 |
| Mar 01, 2010 | $0.031 |
| Feb 01, 2010 | $0.034 |
| Jan 04, 2010 | $0.033 |
| Dec 01, 2009 | $0.032 |
| Nov 02, 2009 | $0.033 |
| Oct 01, 2009 | $0.032 |
| Sep 01, 2009 | $0.034 |
| Aug 03, 2009 | $0.034 |
| Jul 01, 2009 | $0.033 |
| Jun 01, 2009 | $0.035 |
| May 01, 2009 | $0.034 |
| Apr 01, 2009 | $0.034 |
| Mar 02, 2009 | $0.031 |
| Feb 02, 2009 | $0.034 |
| Jan 02, 2009 | $0.035 |
| Dec 01, 2008 | $0.034 |
| Nov 03, 2008 | $0.035 |
| Oct 01, 2008 | $0.034 |
| Sep 02, 2008 | $0.035 |
| Aug 01, 2008 | $0.035 |
| Jul 01, 2008 | $0.034 |
| Jun 02, 2008 | $0.035 |
| May 01, 2008 | $0.034 |
| Apr 01, 2008 | $0.036 |
| Mar 03, 2008 | $0.033 |
| Feb 01, 2008 | $0.035 |
| Jan 02, 2008 | $0.035 |
| Dec 03, 2007 | $0.034 |
| Nov 01, 2007 | $0.036 |
| Oct 01, 2007 | $0.035 |
| Sep 04, 2007 | $0.036 |
| Aug 01, 2007 | $0.036 |
| Jul 02, 2007 | $0.035 |
| Jun 01, 2007 | $0.036 |
| May 01, 2007 | $0.035 |
| Apr 02, 2007 | $0.036 |
| Mar 01, 2007 | $0.033 |
| Feb 01, 2007 | $0.037 |
| Jan 03, 2007 | $0.036 |
| Nov 01, 2006 | $0.036 |
| Oct 02, 2006 | $0.035 |
| Sep 01, 2006 | $0.036 |
| Aug 01, 2006 | $0.036 |
| Jul 03, 2006 | $0.035 |
| Jun 01, 2006 | $0.036 |
| May 01, 2006 | $0.035 |
| Apr 03, 2006 | $0.036 |
| Mar 01, 2006 | $0.033 |
| Feb 01, 2006 | $0.036 |
| Dec 01, 2005 | $0.035 |
| Nov 01, 2005 | $0.036 |
| Oct 03, 2005 | $0.035 |
| Sep 01, 2005 | $0.036 |
| Aug 01, 2005 | $0.035 |
| Jul 01, 2005 | $0.034 |
| Jun 01, 2005 | $0.036 |
| May 02, 2005 | $0.035 |
| Apr 01, 2005 | $0.035 |
| Mar 01, 2005 | $0.032 |
| Feb 01, 2005 | $0.035 |
| Jan 03, 2005 | $0.035 |
| Dec 01, 2004 | $0.034 |
| Nov 01, 2004 | $0.035 |
| Oct 01, 2004 | $0.034 |
| Sep 01, 2004 | $0.035 |
| Aug 02, 2004 | $0.035 |
| Jul 01, 2004 | $0.034 |
| Jun 01, 2004 | $0.036 |
| May 03, 2004 | $0.035 |
| Apr 01, 2004 | $0.036 |
| Mar 01, 2004 | $0.034 |
| Feb 02, 2004 | $0.036 |
| Jan 02, 2004 | $0.036 |
| Dec 01, 2003 | $0.034 |
| Nov 03, 2003 | $0.035 |
| Oct 01, 2003 | $0.035 |
| Sep 02, 2003 | $0.037 |
| Aug 01, 2003 | $0.038 |
| Jul 01, 2003 | $0.037 |
| Jun 02, 2003 | $0.038 |
| May 01, 2003 | $0.038 |
| Apr 01, 2003 | $0.039 |
| Mar 03, 2003 | $0.035 |
| Feb 03, 2003 | $0.039 |
| Jan 02, 2003 | $0.039 |
| Dec 02, 2002 | $0.037 |
| Nov 01, 2002 | $0.039 |
| Oct 01, 2002 | $0.038 |
| Sep 03, 2002 | $0.039 |
| Aug 01, 2002 | $0.040 |
| Jul 01, 2002 | $0.039 |
| Jun 03, 2002 | $0.040 |
| May 01, 2002 | $0.039 |
| Apr 01, 2002 | $0.040 |
| Mar 01, 2002 | $0.036 |
| Feb 01, 2002 | $0.040 |
| Jan 02, 2002 | $0.039 |
| Dec 03, 2001 | $0.038 |
| Oct 01, 2001 | $0.038 |
| Sep 04, 2001 | $0.040 |
| Aug 01, 2001 | $0.041 |
| Jul 02, 2001 | $0.039 |
| Jun 01, 2001 | $0.041 |
| May 01, 2001 | $0.040 |
| Apr 02, 2001 | $0.041 |
| Mar 01, 2001 | $0.037 |
| Feb 01, 2001 | $0.041 |
| Jan 02, 2001 | $0.041 |
| Dec 01, 2000 | $0.040 |
| Nov 01, 2000 | $0.041 |
| Oct 02, 2000 | $0.040 |
| Sep 01, 2000 | $0.041 |
| Aug 01, 2000 | $0.041 |
| Jul 03, 2000 | $0.040 |
| Jun 01, 2000 | $0.041 |
| May 01, 2000 | $0.040 |
| Apr 03, 2000 | $0.040 |
| Feb 01, 2000 | $0.040 |
| Jan 03, 2000 | $0.039 |
| Dec 01, 1999 | $0.037 |
| Nov 01, 1999 | $0.038 |
| Oct 01, 1999 | $0.037 |
| Sep 01, 1999 | $0.038 |
| Aug 02, 1999 | $0.037 |
| Jul 01, 1999 | $0.036 |
| Jun 01, 1999 | $0.037 |
| May 03, 1999 | $0.035 |
| Apr 01, 1999 | $0.036 |
| Mar 01, 1999 | $0.032 |
VMATX - Fund Manager Analysis
Managers
Stephen McFee
Start Date
Tenure
Tenure Rank
Feb 07, 2020
1.73
1.7%
Stephen M. McFee, CFA, Portfolio Manager and co-lead of the municipal revenue team in Vanguard's Fixed Income Group. He has been with Vanguard since 2005, has worked in investment management since 2007. Education: B.A./B.S., East Stroudsburg University; M.S., St. Joseph's University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 34.47 | 7.16 | 0.99 |