Schwab California Tax-Free Bond Fund™ (SWCAX)

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Schwab California Tax-Free Bond Fund™ (SWCAX) is up 1.0% since the beginning of the year. SWCAX is currently trading at $11 per share. Investors who bought $1,000 worth of SWCAX shares 5 years ago would now be looking at an investment worth $1,027.

Schwab California Tax-Free Bond Fund™ (SWCAX) has returned 1.03% so far this year and 5.93% over the past 12 months. Over the last ten years, SWCAX has returned 1.48% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Feb 24, 1992, SWCAX's average daily return is +0.02%, while the average monthly return is +0.35%. At this rate, an investment would double in approximately 16.5 years.

Historically, 65% of months were positive and 35% were negative. The best month was Feb 1993 with a return of +4.7%, while the worst month was Mar 1994 at -5.1%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 7 months.

On a daily basis, SWCAX closed higher 38% of trading days. The best single day was Nov 29, 2002 with a return of +3.8%, while the worst single day was Mar 20, 2020 at -2.6%.

Schwab California Tax-Free Bond Fund™ has an annualized alpha of 4.20%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since February 24, 1992.

• This fund captured 13.79% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -1.02%) - a profile typical of hedging or uncorrelated assets.
• Beta of 0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

SWCAX has an expense ratio of 0.48%, placing it in the medium range.

SWCAX ranks 66 for risk / return — better than 66% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

Schwab California Tax-Free Bond Fund™ provided a 3.18% dividend yield over the last twelve months, with an annual payout of $0.35 per share. The fund has been increasing its distributions for 3 consecutive years.

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

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.

The table below displays the maximum drawdowns of the Schwab California Tax-Free Bond 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 Schwab California Tax-Free Bond Fund™ was 13.51%, occurring on Nov 21, 1994. Recovery took 121 trading sessions.

The current Schwab California Tax-Free Bond Fund™ drawdown is 0.92%.

The chart below shows the rolling one-month volatility.