VPAIX Performance — Vanguard Pennsylvania Long-Term Tax-Exempt Fund, Investor Shares
Data updated: 2026-07-29
VPAIX returned +1.54% year to date and +7.95% over one year to May 2026. Annualised returns are +4.32% over 3 years and +0.96% over 5 years. The fund beat its Long-Term Municipal Bond category average: $100 invested three years ago grew to $114, against $112 for the category, and to $108 over one year, against $107. Volatility over the past three years was 6.48% a year. In the 12 months to May 2026 the fund took in a net $226.1M, and assets reached $3.97B.
VPAIX Growth of $100
What $100 invested in Vanguard Pennsylvania Long-Term 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 | VPAIX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $108 | $107 |
| 3 years (Jun 2023 – May 2026) | $114 | $112 |
| 5 years (Jun 2021 – May 2026) | $105 | $103 |
| Since data start (Sep 2019 – May 2026) | $113 | $109 |
VPAIX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.54% |
| 1 year | +7.95% |
| 3 years (annualised) | +4.32% |
| 5 years (annualised) | +0.96% |
VPAIX Annual Returns
Calendar-year total returns of Vanguard Pennsylvania Long-Term Tax-Exempt Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.54% |
| 2025 | +4.31% |
| 2024 | +1.98% |
| 2023 | +7.24% |
| 2022 | −10.20% |
| 2021 | +2.41% |
| 2020 | +5.86% |
| 2019 (Sep–Dec) | −0.20% |
VPAIX 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 | +0.5% | +1.5% | −2.2% | +1.3% | +0.5% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +1.2% | −2.0% | −0.8% | −0.5% | +0.6% | −0.6% | +0.9% | +3.0% | +1.6% | +0.4% | +0.2% |
| 2024 | −0.2% | +0.1% | −0.1% | −1.2% | −0.2% | +1.9% | +0.8% | +0.7% | +1.3% | −1.5% | +2.0% | −1.5% |
| 2023 | +3.4% | −2.7% | +2.3% | 0.0% | −0.8% | +0.9% | +0.3% | −1.5% | −3.1% | −1.8% | +7.5% | +3.1% |
| 2022 | −2.5% | −0.5% | −3.1% | −3.5% | +1.2% | −2.3% | +2.9% | −2.6% | −4.1% | −1.3% | +5.8% | −0.1% |
| 2021 | +0.7% | −1.5% | +0.6% | +1.1% | +0.6% | +0.3% | +0.8% | −0.4% | −0.8% | −0.1% | +1.0% | +0.1% |
| 2020 | +2.0% | +1.6% | −3.1% | −2.4% | +3.3% | +0.9% | +1.8% | −0.3% | +0.1% | −0.2% | +1.5% | +0.7% |
| 2019 | — | — | — | — | — | — | — | — | −0.7% | 0.0% | +0.2% | +0.3% |
VPAIX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.48%
- 3-year Sharpe ratio: -0.03 (vs 4.5% risk-free rate)
- Best month: +7.46% (Nov 2023)
- Worst month: −3.14% (Sep 2023)
VPAIX Fund Flows
Monthly money in and out of Vanguard Pennsylvania Long-Term Tax-Exempt Fund, from SEC Form N-PORT.
- 12-month net flow: $226.1M
- 12-month gross sales (incl. reinvestments): $852.2M
- Sales ÷ redemptions: 1.36×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $79.2M | $57.2M | $22.1M |
| Apr 2026 | $71.1M | $41.8M | $29.3M |
| Mar 2026 | $60.1M | $61.4M | −$1.3M |
| Feb 2026 | $78.0M | $28.4M | $49.6M |
| Jan 2026 | $99.4M | $36.0M | $63.4M |
| Dec 2025 | $80.3M | $78.4M | $1.9M |
| Nov 2025 | $69.7M | $65.7M | $4.0M |
| Oct 2025 | $62.4M | $52.3M | $10.1M |
| Sep 2025 | $54.3M | $41.1M | $13.1M |
| Aug 2025 | $72.9M | $44.3M | $28.5M |
| Jul 2025 | $69.9M | $61.9M | $7.9M |
| Jun 2025 | $55.1M | $57.6M | −$2.5M |
VPAIX Assets Under Management
Net assets of Vanguard Pennsylvania Long-Term Tax-Exempt Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $3.97B |
| 2026-02-28 | $3.97B |
| 2025-11-30 | $3.81B |
| 2025-08-31 | $3.63B |
| 2025-05-31 | $3.60B |
| 2025-02-28 | $3.74B |
| 2024-11-30 | $3.78B |
| 2024-08-31 | $3.69B |
| 2024-05-31 | $3.58B |
| 2024-02-29 | $3.62B |
| 2023-11-30 | $3.48B |
| 2023-08-31 | $3.49B |
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.