VMATX Performance — Vanguard Massachusetts Tax-Exempt Fund, Investor Shares
Data updated: 2026-07-29
VMATX returned +1.62% year to date and +7.86% over one year to May 2026. Annualised returns are +4.19% over 3 years and +0.78% over 5 years. The fund beat its Long-Term Municipal Bond category average: $100 invested three years ago grew to $113, against $112 for the category, and to $108 over one year, against $107. Volatility over the past three years was 6.35% a year. In the 12 months to May 2026 the fund took in a net $745.7M, and assets reached $3.69B.
VMATX Growth of $100
What $100 invested in Vanguard Massachusetts Tax-Exempt Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | VMATX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $108 | $107 |
| 3 years (Jun 2023 – May 2026) | $113 | $112 |
| 5 years (Jun 2021 – May 2026) | $104 | $103 |
| Since data start (Sep 2019 – May 2026) | $112 | $109 |
VMATX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.62% |
| 1 year | +7.86% |
| 3 years (annualised) | +4.19% |
| 5 years (annualised) | +0.78% |
VMATX Annual Returns
Calendar-year total returns of Vanguard Massachusetts Tax-Exempt Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.62% |
| 2025 | +4.00% |
| 2024 | +1.94% |
| 2023 | +7.18% |
| 2022 | −10.72% |
| 2021 | +1.96% |
| 2020 | +6.47% |
| 2019 (Sep–Dec) | −0.22% |
VMATX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.7% | +1.6% | −2.4% | +1.2% | +0.6% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +1.1% | −2.2% | −0.7% | −0.4% | +0.7% | −0.6% | +1.1% | +3.0% | +1.4% | +0.3% | +0.1% |
| 2024 | −0.2% | 0.0% | +0.1% | −1.3% | 0.0% | +1.9% | +0.9% | +0.7% | +1.3% | −1.7% | +1.9% | −1.5% |
| 2023 | +3.4% | −2.5% | +2.2% | 0.0% | −0.8% | +0.9% | +0.3% | −1.3% | −3.1% | −1.6% | +7.2% | +2.9% |
| 2022 | −2.7% | −0.7% | −3.6% | −3.7% | +1.8% | −2.6% | +3.3% | −2.6% | −4.5% | −0.9% | +5.8% | −0.4% |
| 2021 | +0.5% | −1.7% | +0.6% | +1.2% | +0.5% | +0.3% | +0.7% | −0.5% | −0.9% | 0.0% | +1.1% | +0.1% |
| 2020 | +2.1% | +1.5% | −3.5% | −1.6% | +3.6% | +0.7% | +1.8% | −0.5% | +0.1% | −0.1% | +1.6% | +0.7% |
| 2019 | — | — | — | — | — | — | — | — | −0.8% | 0.0% | +0.2% | +0.3% |
VMATX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.35%
- 3-year Sharpe ratio: -0.05 (vs 4.5% risk-free rate)
- Best month: +7.24% (Nov 2023)
- Worst month: −3.08% (Sep 2023)
VMATX Fund Flows
Monthly money in and out of Vanguard Massachusetts Tax-Exempt Fund, from SEC Form N-PORT.
- 12-month net flow: $745.7M
- 12-month gross sales (incl. reinvestments): $1.4B
- Sales ÷ redemptions: 2.23×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $107.3M | $55.4M | $51.8M |
| Apr 2026 | $93.4M | $54.4M | $39.0M |
| Mar 2026 | $153.1M | $61.1M | $92.0M |
| Feb 2026 | $91.9M | $34.2M | $57.7M |
| Jan 2026 | $129.0M | $66.8M | $62.2M |
| Dec 2025 | $94.9M | $50.4M | $44.5M |
| Nov 2025 | $76.8M | $29.8M | $47.0M |
| Oct 2025 | $85.1M | $30.8M | $54.3M |
| Sep 2025 | $107.4M | $42.0M | $65.4M |
| Aug 2025 | $136.1M | $67.7M | $68.4M |
| Jul 2025 | $152.8M | $68.5M | $84.3M |
| Jun 2025 | $126.3M | $47.2M | $79.1M |
VMATX Assets Under Management
Net assets of Vanguard Massachusetts Tax-Exempt Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $3.69B |
| 2026-02-28 | $3.56B |
| 2025-11-30 | $3.34B |
| 2025-08-31 | $3.06B |
| 2025-05-31 | $2.82B |
| 2025-02-28 | $2.92B |
| 2024-11-30 | $2.92B |
| 2024-08-31 | $2.84B |
| 2024-05-31 | $2.69B |
| 2024-02-29 | $2.66B |
| 2023-11-30 | $2.51B |
| 2023-08-31 | $2.41B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.