PortfoliosLab logo
PortfoliosLab logo
Tools
Portfolios
Screeners
Discussions
Delaware Tax-Free California Fund (DVTAX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Delaware Tax-Free California Fund (DVTAX)

Mutual Fund · Currency in USD · Last updated May 31, 2025

Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal securities the income from which is exempt from federal income tax, including the federal alternative minimum tax, and from California state personal income taxes. It will generally have a dollar-weighted average effective maturity of between 5 and 30 years.

Fund Info

ISIN

US9289288295

CUSIP

928928829

Issuer

Delaware Funds

Inception Date

Mar 1, 1995

Category

Municipal Bonds

Min. Investment

$1,000

Asset Class

Bond

Expense Ratio

DVTAX has an expense ratio of 0.82%, placing it in the medium range.

Share Price Chart

Loading data...

Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Delaware Tax-Free California Fund

Performance

Performance Chart

Loading data...

S&P 500

Returns By Period

Delaware Tax-Free California Fund (DVTAX) returned -4.24% year-to-date (YTD) and -0.31% over the past 12 months. Over the past 10 years, DVTAX returned 2.30% annually, underperforming the S&P 500 benchmark at 10.85%.

DVTAX

YTD

-4.24%

1M

-1.21%

6M

-5.81%

1Y

-0.31%

3Y*

1.05%

5Y*

1.12%

10Y*

2.30%

^GSPC (Benchmark)

YTD

0.51%

1M

6.15%

6M

-2.00%

1Y

12.92%

3Y*

12.68%

5Y*

14.19%

10Y*

10.85%

*Annualized

Monthly Returns

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

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025-0.15%1.35%-2.54%-1.71%-1.21%-4.24%
20240.13%0.37%0.03%-1.59%0.30%2.20%0.92%0.74%1.33%-1.82%1.89%-1.64%2.80%
20234.14%-3.34%1.89%0.66%-0.70%1.50%0.22%-1.89%-3.81%-2.50%9.48%3.90%9.17%
2022-2.80%-0.45%-3.23%-4.03%1.62%-3.61%3.67%-2.55%-6.03%-1.45%6.84%-0.35%-12.31%
20210.90%-1.20%0.58%1.12%0.80%0.70%0.94%-0.48%-0.89%-0.25%1.19%0.63%4.08%
20202.14%1.87%-7.25%-1.51%3.10%2.54%1.75%-0.47%0.01%0.36%2.25%1.16%5.64%
20190.54%0.48%1.70%0.43%1.45%0.38%0.58%2.23%-0.53%0.01%0.14%0.45%8.12%
2018-1.14%-0.12%0.34%-0.30%1.20%0.07%0.17%0.20%-0.71%-0.83%0.69%0.81%0.37%
20170.64%0.87%0.26%0.80%1.51%0.22%0.52%0.85%-0.28%0.25%0.10%1.30%7.27%
20161.12%0.21%0.59%0.78%0.43%1.65%-0.05%0.28%-0.44%-1.01%-4.17%0.99%0.26%
20151.76%-1.01%0.42%-0.46%-0.21%-0.21%0.79%0.39%0.65%0.45%0.55%0.79%3.96%
20142.62%1.23%0.40%1.51%1.84%0.05%0.32%1.47%0.45%1.15%0.21%0.69%12.57%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of DVTAX is 7, meaning it’s performing worse than 93% of other mutual funds 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 DVTAX is 77
Overall Rank
The Sharpe Ratio Rank of DVTAX is 88
Sharpe Ratio Rank
The Sortino Ratio Rank of DVTAX is 66
Sortino Ratio Rank
The Omega Ratio Rank of DVTAX is 55
Omega Ratio Rank
The Calmar Ratio Rank of DVTAX is 77
Calmar Ratio Rank
The Martin Ratio Rank of DVTAX is 77
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

The charts below present risk-adjusted performance metrics for Delaware Tax-Free California Fund (DVTAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Delaware Tax-Free California Fund Sharpe ratios as of May 31, 2025 (values are recalculated daily):

  • 1-Year: -0.04
  • 5-Year: 0.20
  • 10-Year: 0.46
  • All Time: 1.00

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Delaware Tax-Free California Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

Loading data...

Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Delaware Tax-Free California Fund provided a 3.68% dividend yield over the last twelve months, with an annual payout of $0.39 per share.

3.00%3.50%4.00%$0.00$0.10$0.20$0.30$0.40$0.5020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.39$0.39$0.39$0.36$0.37$0.44$0.54$0.45$0.50$0.42$0.42$0.46

Dividend yield

3.68%3.48%3.49%3.33%2.95%3.51%4.37%3.81%4.07%3.54%3.44%3.74%

Monthly Dividends

The table displays the monthly dividend distributions for Delaware Tax-Free California Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.03$0.03$0.03$0.03$0.00$0.13
2024$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.39
2023$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.39
2022$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.36
2021$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.05$0.03$0.37
2020$0.03$0.03$0.03$0.03$0.04$0.03$0.03$0.03$0.03$0.07$0.04$0.03$0.44
2019$0.03$0.04$0.03$0.03$0.03$0.04$0.03$0.03$0.03$0.03$0.15$0.06$0.54
2018$0.03$0.07$0.03$0.03$0.03$0.04$0.03$0.03$0.04$0.03$0.05$0.04$0.45
2017$0.04$0.03$0.03$0.04$0.03$0.07$0.03$0.03$0.04$0.03$0.06$0.07$0.50
2016$0.04$0.04$0.03$0.04$0.03$0.04$0.03$0.04$0.04$0.03$0.04$0.04$0.42
2015$0.04$0.04$0.03$0.03$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.42
2014$0.04$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.03$0.07$0.04$0.03$0.46

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.

Loading data...

Worst Drawdowns

The table below displays the maximum drawdowns of the Delaware Tax-Free California Fund. 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 Delaware Tax-Free California Fund was 18.38%, occurring on Oct 25, 2022. Recovery took 484 trading sessions.

The current Delaware Tax-Free California Fund drawdown is 6.31%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-18.38%Jan 4, 2022204Oct 25, 2022484Sep 30, 2024688
-13.91%Mar 2, 202015Mar 20, 2020176Nov 30, 2020191
-13.1%Jan 24, 2008226Dec 15, 2008172Aug 21, 2009398
-10.95%Apr 30, 1999195Jan 28, 2000184Oct 20, 2000379
-9.97%May 3, 201387Sep 5, 2013182May 28, 2014269
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

Loading data...