Muni_CA
Aimed at generating tax free income for a taxable account in California
Asset Allocation
| Position | Category/Sector | Target 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.
The earliest data available for this chart is Nov 12, 2001, corresponding to the inception date of VCLAX
Returns By Period
As of May 9, 2025, the Muni_CA returned -2.12% Year-To-Date and 2.41% of annualized return in the last 10 years.
| YTD | 1M | 6M | 1Y | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|
^GSPC S&P 500 | -3.70% | 13.67% | -5.18% | 9.18% | 14.14% | 10.43% |
| Muni_CA | -2.12% | 1.13% | -1.38% | 0.37% | 1.38% | 2.41% |
| Portfolio components: | ||||||
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | -1.87% | 1.27% | -1.06% | 0.38% | 1.03% | 2.51% |
BCHYX American Century California High Yield Municipal Fund | -2.25% | 1.07% | -1.64% | 0.52% | 1.69% | 2.57% |
PRXCX T. Rowe Price California Tax Free Bond Fund | -2.25% | 1.06% | -1.43% | 0.20% | 1.43% | 2.14% |
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.02% | 1.10% | -1.89% | -1.24% | -0.10% | -2.12% | |||||||
| 2024 | 0.02% | 0.16% | 0.11% | -1.15% | 0.19% | 1.91% | 0.82% | 0.77% | 1.17% | -1.37% | 1.69% | -1.40% | 2.89% |
| 2023 | 3.28% | -2.45% | 1.97% | -0.15% | -0.71% | 1.06% | 0.29% | -1.28% | -3.18% | -1.88% | 7.49% | 2.83% | 7.02% |
| 2022 | -2.71% | -0.57% | -3.22% | -3.61% | 1.34% | -2.74% | 3.33% | -2.32% | -4.41% | -1.29% | 5.81% | -0.10% | -10.45% |
| 2021 | 0.78% | -1.55% | 0.78% | 1.14% | 0.60% | 0.44% | 0.89% | -0.32% | -0.85% | -0.12% | 1.02% | 0.02% | 2.83% |
| 2020 | 1.84% | 1.54% | -5.30% | -2.23% | 3.42% | 1.47% | 1.85% | -0.36% | 0.16% | -0.04% | 1.70% | 0.80% | 4.66% |
| 2019 | 0.57% | 0.54% | 1.82% | 0.47% | 1.78% | 0.42% | 0.80% | 1.87% | -0.60% | 0.08% | 0.17% | 0.33% | 8.53% |
| 2018 | -1.17% | -0.43% | 0.52% | -0.38% | 1.29% | 0.14% | 0.16% | 0.30% | -0.68% | -0.93% | 0.82% | 1.12% | 0.71% |
| 2017 | 0.52% | 0.77% | 0.42% | 0.79% | 1.80% | -0.06% | 0.62% | 0.95% | -0.33% | 0.27% | -0.15% | 1.19% | 6.98% |
| 2016 | 1.18% | 0.12% | 0.76% | 0.92% | 0.55% | 2.02% | -0.20% | 0.33% | -0.51% | -1.26% | -4.80% | 1.28% | 0.21% |
| 2015 | 1.94% | -1.03% | 0.42% | -0.62% | -0.22% | -0.29% | 0.85% | 0.42% | 0.72% | 0.48% | 0.68% | 1.10% | 4.49% |
| 2014 | 2.67% | 1.47% | 0.53% | 1.37% | 1.67% | 0.01% | 0.32% | 1.48% | 0.49% | 0.82% | 0.21% | 0.72% | 12.38% |
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.
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of Muni_CA is 8, meaning it’s performing worse than 92% 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.
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 | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio | |
|---|---|---|---|---|---|
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 0.07 | 0.22 | 1.04 | 0.13 | 0.45 |
BCHYX American Century California High Yield Municipal Fund | 0.08 | 0.24 | 1.04 | 0.11 | 0.47 |
PRXCX T. Rowe Price California Tax Free Bond Fund | 0.03 | 0.16 | 1.03 | 0.09 | 0.30 |
Dividends
Dividend yield
Muni_CA provided a 3.29% dividend yield over the last twelve months.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 3.29% | 3.46% | 3.26% | 3.00% | 2.83% | 3.03% | 3.06% | 3.34% | 3.30% | 3.50% | 3.57% | 3.73% |
| Portfolio components: | ||||||||||||
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 3.22% | 3.38% | 3.07% | 2.74% | 3.03% | 3.29% | 3.01% | 3.40% | 3.33% | 3.56% | 3.58% | 3.71% |
BCHYX American Century California High Yield Municipal Fund | 3.55% | 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 | 3.11% | 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.
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 16.14%, occurring on Oct 25, 2022. Recovery took 533 trading sessions.
The current Muni_CA drawdown is 3.88%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.14% | Aug 6, 2021 | 309 | Oct 25, 2022 | 533 | Dec 4, 2024 | 842 |
| -13.61% | Jan 24, 2008 | 227 | Dec 16, 2008 | 177 | Aug 31, 2009 | 404 |
| -12.66% | Mar 10, 2020 | 9 | Mar 20, 2020 | 171 | Nov 20, 2020 | 180 |
| -8.34% | May 3, 2013 | 87 | Sep 5, 2013 | 149 | Apr 9, 2014 | 236 |
| -7.86% | Oct 13, 2010 | 67 | Jan 18, 2011 | 134 | Jul 29, 2011 | 201 |
Volatility
Volatility Chart
The current Muni_CA volatility is 3.81%, 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.
Diversification
Diversification Metrics
Number of Effective Assets
The portfolio contains 3 assets, with an effective number of assets of 3.00, reflecting the diversification based on asset allocation. This number of effective assets suggests a highly concentrated portfolio, where a few assets dominate the allocation, potentially increasing the portfolio's risk due to lack of diversification.
Asset Correlations Table
| ^GSPC | BCHYX | PRXCX | VCLAX | Portfolio | |
|---|---|---|---|---|---|
| ^GSPC | 1.00 | -0.11 | -0.12 | -0.12 | -0.12 |
| BCHYX | -0.11 | 1.00 | 0.86 | 0.89 | 0.95 |
| PRXCX | -0.12 | 0.86 | 1.00 | 0.89 | 0.95 |
| VCLAX | -0.12 | 0.89 | 0.89 | 1.00 | 0.96 |
| Portfolio | -0.12 | 0.95 | 0.95 | 0.96 | 1.00 |