VMATX: Vanguard Massachusetts Tax-Exempt Fund - MutualFunds.com
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Vanguard MA Tax-Exempt Inv

VMATX - Snapshot

Vitals

  • YTD Return -1.5%
  • 3 Yr Annualized Return 5.9%
  • 5 Yr Annualized Return 4.1%
  • Net Assets $2.57 B
  • Holdings in Top 10 9.0%

52 WEEK LOW AND HIGH

$11.26
$10.09
$11.54

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.13%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 27.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $3,000
  • IRA N/A

Fund Classification

  • Primary Theme
    Municipal Bond
  • Fund Type Open End Mutual Fund
  • Investment Style Muni Massachusetts

Compare VMATX to Popular Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Vanguard Intermediate-Term Tax-Exempt Fund

Fund

$14.69

+0.07%

$83.18 B

-

$0.00

-1.14%

0.17%

Vanguard Limited Term Tax Exempt Fund

Fund

$11.21

0.00%

$34.32 B

-

$0.00

-0.44%

0.17%

American Funds Tax Exempt Bond Fund®

Fund

$13.48

0.00%

$25.04 B

-

$0.00

-1.03%

0.52%

Vanguard Short Term Tax Exempt Fund

Fund

$15.93

0.00%

$21.38 B

-

$0.00

-0.13%

0.17%

iShares National Muni Bond ETF

MUB | ETF

$115.38

-0.18%

$21.13 B

-

-

-1.39%

0.07%

VMATX - Profile

Distributions

  • YTD Total Return -1.5%
  • 3 Yr Annualized Total Return 5.9%
  • 5 Yr Annualized Total Return 4.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.55%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Vanguard Massachusetts Tax-Exempt Fund
  • Fund Family Name
    Vanguard
  • Inception Date
    Dec 09, 1998
  • Shares Outstanding
    N/A
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Stephen 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 -1.5% -3.3% 1.4% 83.43%
1 Yr 4.8% -1.0% 9.5% 5.92%
3 Yr 5.9%* 0.0% 10.2% 9.91%
5 Yr 4.1%* -0.4% 8.0% 14.05%
10 Yr 4.9%* -0.1% 10.8% 25.15%

* Annualized

Return Ranking - Calendar

Period VMATX Return Category Return Low Category Return High Rank in Category (%)
2020 3.1% -2.8% 310.0% 6.67%
2019 5.0% -0.3% 15.4% 14.79%
2018 -2.6% -10.3% 97.2% 70.12%
2017 2.9% -100.0% 7.6% 13.40%
2016 -3.5% -7.9% 96.8% 80.16%

Total Return Ranking - Trailing

Period VMATX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.5% -3.3% 1.4% 83.54%
1 Yr 4.8% -5.1% 9.5% 5.34%
3 Yr 5.9%* -2.0% 10.2% 9.38%
5 Yr 4.1%* -1.6% 8.0% 12.61%
10 Yr 4.9%* -0.1% 10.8% 23.40%

* Annualized

Total Return Ranking - Calendar

Period VMATX Return Category Return Low Category Return High Rank in Category (%)
2020 3.1% -2.8% 310.0% 6.67%
2019 5.0% -0.3% 15.4% 15.03%
2018 -2.6% -10.3% 11.0% 71.91%
2017 2.9% -100.0% 7.6% 16.89%
2016 -3.5% -7.9% 3.0% 82.92%

NAV & Total Return History

VMATX - Holdings

Concentration Analysis

VMATX Category Low Category High VMATX % Rank
Net Assets 2.57 B 100 83.2 B 15.60%
Number of Holdings 737 3 11152 14.28%
Net Assets in Top 10 227 M -192 M 4.18 B 19.80%
Weighting of Top 10 9.04% 2.5% 100.0% 85.95%

Top 10 Holdings

  1. MASSACHUSETTS ST DEV FIN AGY REV 1.56%
  2. MASSACHUSETTS ST SPL OBLIG DEDICATED TAX REV 1.05%
  3. MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV 0.95%
  4. MASSACHUSETTS BAY TRANSN AUTH MASS SALES TAX REV 0.87%
  5. MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV 5% 0.86%
  6. MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV 0.83%
  7. MASSACHUSETTS ST HEALTH & EDL FACS AUTH 0.79%
  8. MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV 0.78%
  9. MASSACHUSETTS ST 0.77%
  10. MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV 0.76%

Asset Allocation

Weighting Return Low Return High VMATX % Rank
Bonds 		100.00% 66.96% 147.73% 10.74%
Stocks 		0.00% 0.00% 2.07% 36.16%
Preferred Stocks 		0.00% -0.95% 1.06% 33.16%
Other 		0.00% -13.58% 13.72% 36.01%
Convertible Bonds 		0.00% -0.42% 1.32% 33.28%
Cash 		0.00% -47.72% 33.04% 86.18%

Bond Sector Breakdown

Weighting Return Low Return High VMATX % Rank
Municipal 		100.00% 46.63% 100.00% 5.52%
Derivative 		0.00% 0.00% 0.85% 33.11%
Cash & Equivalents 		0.00% 0.00% 33.04% 90.50%
Securitized 		0.00% 0.00% 6.51% 34.70%
Corporate 		0.00% 0.00% 15.75% 43.57%
Government 		0.00% 0.00% 50.01% 38.68%

Bond Geographic Breakdown

Weighting Return Low Return High VMATX % Rank
US 		99.49% 66.25% 141.36% 11.83%
Non US 		0.51% 0.00% 26.53% 59.33%

VMATX - Expenses

Operational Fees

VMATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.13% 0.01% 16.95% 98.73%
Management Fee 0.12% 0.00% 1.10% 2.55%
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 0.50% 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% 2.00% 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% 299.40% 65.21%

VMATX - Distributions

Dividend Yield Analysis

VMATX Category Low Category High VMATX % Rank
Dividend Yield 0.00% 0.00% 1.71% 37.21%

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% -1.65% 6.48% 39.33%

Capital Gain Distribution Analysis

VMATX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

VMATX - Fund Manager Analysis

Managers

Stephen McFee

Start Date

Tenure

Tenure Rank

Feb 07, 2020

0.98

1.0%

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
0.03 35.86 7.01 0.25

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