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Muni_CA
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Diversification

Asset Allocation


VCLAX 33.33%BCHYX 33.33%PRXCX 33.33%BondBond
PositionCategory/SectorTarget Weight
BCHYX
American Century California High Yield Municipal Fund
Municipal Bonds
33.33%
PRXCX
T. Rowe Price California Tax Free Bond Fund
Municipal Bonds
33.33%
VCLAX
Vanguard California Long-Term Tax-Exempt Fund Admiral Shares
Municipal Bonds
33.33%

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Muni_CA, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced every 3 months.


100.00%150.00%200.00%250.00%300.00%350.00%400.00%450.00%NovemberDecember2025FebruaryMarchApril
125.93%
387.95%
Muni_CA
Benchmark (^GSPC)
Portfolio components

The earliest data available for this chart is Nov 12, 2001, corresponding to the inception date of VCLAX

Returns By Period

As of Apr 10, 2025, the Muni_CA returned -5.30% Year-To-Date and 1.93% of annualized return in the last 10 years.


YTD1M6M1Y5Y*10Y*
^GSPC
S&P 500
-7.22%-2.81%-5.79%4.74%14.41%10.03%
Muni_CA-5.31%-5.59%-5.73%-1.69%0.59%1.93%
VCLAX
Vanguard California Long-Term Tax-Exempt Fund Admiral Shares
-4.97%-5.42%-5.40%-1.72%0.13%1.94%
BCHYX
American Century California High Yield Municipal Fund
-5.53%-5.76%-6.10%-1.53%0.92%2.14%
PRXCX
T. Rowe Price California Tax Free Bond Fund
-5.40%-5.56%-5.64%-1.85%0.69%1.70%
*Annualized

Monthly Returns

The table below presents the monthly returns of Muni_CA, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.02%1.10%-2.17%-4.27%-5.31%
20240.03%0.17%0.12%-1.16%0.20%1.91%0.82%0.77%1.17%-1.37%1.69%-1.41%2.92%
20233.29%-2.45%1.97%-0.16%-0.70%1.06%0.29%-1.28%-3.20%-1.89%7.51%2.83%7.00%
2022-2.71%-0.57%-3.22%-3.62%1.33%-2.76%3.34%-2.31%-4.44%-1.32%5.82%-0.10%-10.53%
20210.79%-1.54%0.79%1.14%0.61%0.45%0.89%-0.31%-0.85%-0.12%1.03%-0.17%2.69%
20201.84%1.55%-5.39%-2.24%3.43%1.50%1.86%-0.35%0.17%-0.04%1.70%0.60%4.40%
20190.57%0.54%1.83%0.47%1.79%0.42%0.80%1.87%-0.60%0.08%0.17%0.34%8.58%
2018-1.17%-0.43%0.52%-0.37%1.28%0.14%0.16%0.31%-0.68%-0.94%0.80%1.12%0.70%
20170.52%0.78%0.42%0.79%1.80%-0.06%0.62%0.96%-0.33%0.27%-0.14%1.20%7.04%
20161.18%0.12%0.76%0.93%0.55%2.02%-0.19%0.33%-0.50%-1.27%-4.82%1.27%0.21%
20151.94%-1.02%0.41%-0.62%-0.22%-0.30%0.84%0.42%0.72%0.49%0.68%1.11%4.51%
20142.67%1.48%0.53%1.37%1.67%0.00%0.32%1.48%0.49%0.82%0.21%0.72%12.41%

Expense Ratio

Muni_CA has an expense ratio of 0.37%, placing it in the medium range. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.


Expense ratio chart for PRXCX: current value is 0.53%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
PRXCX: 0.53%
Expense ratio chart for BCHYX: current value is 0.49%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
BCHYX: 0.49%
Expense ratio chart for VCLAX: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VCLAX: 0.09%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of Muni_CA is 4, meaning it’s performing worse than 96% of other portfolios on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of Muni_CA is 44
Overall Rank
The Sharpe Ratio Rank of Muni_CA is 44
Sharpe Ratio Rank
The Sortino Ratio Rank of Muni_CA is 44
Sortino Ratio Rank
The Omega Ratio Rank of Muni_CA is 33
Omega Ratio Rank
The Calmar Ratio Rank of Muni_CA is 55
Calmar Ratio Rank
The Martin Ratio Rank of Muni_CA is 33
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

This table presents a comparison of risk-adjusted performance metrics for positions. Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.


Sharpe ratio
The chart of Sharpe ratio for Portfolio, currently valued at -0.36, compared to the broader market-4.00-2.000.002.00
Portfolio: -0.36
^GSPC: 0.26
The chart of Sortino ratio for Portfolio, currently valued at -0.39, compared to the broader market-6.00-4.00-2.000.002.004.00
Portfolio: -0.39
^GSPC: 0.50
The chart of Omega ratio for Portfolio, currently valued at 0.93, compared to the broader market0.400.600.801.001.201.40
Portfolio: 0.93
^GSPC: 1.07
The chart of Calmar ratio for Portfolio, currently valued at -0.25, compared to the broader market0.001.002.003.004.005.00
Portfolio: -0.25
^GSPC: 0.26
The chart of Martin ratio for Portfolio, currently valued at -1.27, compared to the broader market0.005.0010.0015.0020.00
Portfolio: -1.27
^GSPC: 1.29

Portfolio components
Sharpe ratioSortino ratioOmega ratioCalmar ratioMartin ratio
VCLAX
Vanguard California Long-Term Tax-Exempt Fund Admiral Shares
-0.35-0.400.93-0.27-1.28
BCHYX
American Century California High Yield Municipal Fund
-0.33-0.360.94-0.20-1.17
PRXCX
T. Rowe Price California Tax Free Bond Fund
-0.38-0.420.93-0.28-1.38

The current Muni_CA Sharpe ratio is -0.36. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Compared to the broad market, where average Sharpe ratios range from 0.13 to 0.65, this portfolio's current Sharpe ratio places it in the bottom 25%. This suggests that it may not be performing as well in terms of risk-adjusted returns compared to many other portfolios. The lower performance could be due to either lower returns, higher volatility, or a combination of both. This might indicate that the portfolio requires some fine-tuning. You can use the Portfolio Optimization tool to find an allocation that maximizes the Sharpe ratio.

Use the chart below to compare the Sharpe ratio of Muni_CA with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
-0.36
0.26
Muni_CA
Benchmark (^GSPC)
Portfolio components

Dividends

Dividend yield

Muni_CA provided a 3.40% dividend yield over the last twelve months.


TTM20242023202220212020201920182017201620152014
Portfolio3.40%3.47%3.26%3.00%2.62%2.81%3.06%3.33%3.30%3.50%3.57%3.73%
VCLAX
Vanguard California Long-Term Tax-Exempt Fund Admiral Shares
3.32%3.38%3.07%2.74%2.40%2.64%3.01%3.39%3.34%3.56%3.58%3.71%
BCHYX
American Century California High Yield Municipal Fund
3.69%3.76%3.67%3.43%2.94%3.07%3.24%3.50%3.48%3.61%3.70%3.87%
PRXCX
T. Rowe Price California Tax Free Bond Fund
3.21%3.26%3.04%2.83%2.51%2.73%2.93%3.11%3.09%3.34%3.43%3.60%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-7.20%
-11.19%
Muni_CA
Benchmark (^GSPC)
Portfolio components

Worst Drawdowns

The table below displays the maximum drawdowns of the Muni_CA. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Muni_CA was 16.38%, occurring on Oct 25, 2022. The portfolio has not yet recovered.

The current Muni_CA drawdown is 7.13%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-16.38%Aug 6, 2021309Oct 25, 2022
-13.66%Jan 24, 2008227Dec 16, 2008177Aug 31, 2009404
-12.75%Mar 10, 20209Mar 20, 2020175Nov 27, 2020184
-8.35%May 3, 201387Sep 5, 2013149Apr 9, 2014236
-7.87%Oct 13, 201067Jan 18, 2011134Jul 29, 2011201

Volatility

Volatility Chart

The current Muni_CA volatility is 3.42%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


0.00%2.00%4.00%6.00%8.00%10.00%12.00%14.00%NovemberDecember2025FebruaryMarchApril
3.42%
13.21%
Muni_CA
Benchmark (^GSPC)
Portfolio components

Diversification

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

BCHYXPRXCXVCLAX
BCHYX1.000.860.89
PRXCX0.861.000.89
VCLAX0.890.891.00
The correlation results are calculated based on daily price changes starting from Nov 13, 2001
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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