Schwab California Tax-Free Bond Fund™ (SWCAX)
The investment seeks high current income exempt from federal and California personal income tax that is consistent with capital preservation. To pursue its goal, the fund primarily invests in investment-grade municipal securities - those in the four highest credit rating categories (rated AAA to BBB- or the unrated equivalent as determined by the investment adviser) from California issuers. The fund normally invests at least 80% of its net assets (including, for this purpose, any borrowings for investment purposes) in municipal securities the interest from which is exempt from federal and California personal income tax and federal alternative minimum tax.
Fund Info
| ISIN | US8085173040 |
|---|---|
| CUSIP | 808517304 |
| Issuer | Charles Schwab |
| Inception Date | Feb 23, 1992 |
| Category | Municipal Bonds |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
SWCAX features an expense ratio of 0.48%, falling within 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.
Popular comparisons: SWCAX vs. PRXCX, SWCAX vs. SWPPX, SWCAX vs. VOO
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Schwab California Tax-Free Bond Fund™, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Schwab California Tax-Free Bond Fund™ had a return of 1.68% year-to-date (YTD) and 5.59% in the last 12 months. Over the past 10 years, Schwab California Tax-Free Bond Fund™ had an annualized return of 1.36%, while the S&P 500 had an annualized return of 11.39%, indicating that Schwab California Tax-Free Bond Fund™ did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.68% | 25.48% |
| 1 month | -0.28% | 2.14% |
| 6 months | 1.66% | 12.76% |
| 1 year | 5.59% | 33.14% |
| 5 years (annualized) | 0.57% | 13.96% |
| 10 years (annualized) | 1.36% | 11.39% |
Monthly Returns
The table below presents the monthly returns of SWCAX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.11% | 0.07% | 0.07% | -0.64% | -0.18% | 1.16% | 0.71% | 0.73% | 0.87% | -1.17% | 1.68% | ||
| 2023 | 2.19% | -1.85% | 1.69% | -0.15% | -0.69% | 0.70% | 0.31% | -0.68% | -1.77% | -0.61% | 4.23% | 1.89% | 5.22% |
| 2022 | -2.52% | -0.53% | -2.60% | -2.48% | 1.06% | -1.17% | 2.18% | -1.87% | -2.97% | -0.38% | 3.42% | 0.22% | -7.59% |
| 2021 | 0.37% | -1.32% | 0.46% | 0.63% | 0.21% | 0.21% | 0.79% | -0.37% | -0.68% | -0.20% | 0.63% | -0.44% | 0.28% |
| 2020 | 1.50% | 0.98% | -3.24% | -1.18% | 3.14% | 0.40% | 1.63% | -0.34% | -0.02% | -0.26% | 1.13% | -0.33% | 3.32% |
| 2019 | 0.63% | 0.47% | 1.05% | 0.29% | 1.20% | 0.37% | 0.86% | 1.25% | -0.80% | 0.17% | 0.09% | 0.00% | 5.70% |
| 2018 | -0.90% | -0.30% | 0.21% | -0.39% | 1.07% | 0.21% | 0.20% | 0.21% | -0.56% | -0.47% | 0.93% | 0.98% | 1.17% |
| 2017 | 0.53% | 0.64% | 0.13% | 0.79% | 1.31% | -0.29% | 0.61% | 0.88% | -0.30% | 0.03% | -0.65% | 0.80% | 4.54% |
| 2016 | 1.16% | 0.19% | 0.18% | 0.61% | 0.01% | 1.25% | 0.02% | 0.26% | -0.37% | -0.97% | -3.94% | 0.37% | -1.32% |
| 2015 | 1.76% | -1.04% | 0.17% | -0.48% | -0.32% | 0.02% | 0.70% | 0.18% | 0.78% | 0.27% | 0.27% | -0.04% | 2.27% |
| 2014 | 1.66% | 0.89% | -0.30% | 1.05% | 1.21% | -0.12% | 0.28% | 1.10% | 0.11% | 0.69% | 0.10% | -1.45% | 5.31% |
| 2013 | 0.28% | 0.12% | -0.30% | 1.04% | -1.20% | -2.21% | -0.38% | -0.90% | 1.96% | 0.81% | -0.21% | 0.12% | -0.94% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of SWCAX is 56, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Schwab California Tax-Free Bond Fund™ (SWCAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Schwab California Tax-Free Bond Fund™ provided a 3.07% dividend yield over the last twelve months, with an annual payout of $0.34 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.34 | $0.30 | $0.23 | $0.19 | $0.23 | $0.27 | $0.29 | $0.28 | $0.27 | $0.27 | $0.29 | $0.30 |
Dividend yield | 3.07% | 2.68% | 2.12% | 1.60% | 1.85% | 2.24% | 2.51% | 2.38% | 2.32% | 2.24% | 2.39% | 2.53% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.28 | |
| 2023 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.23 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.19 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.23 |
| 2019 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2018 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.29 |
| 2017 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.28 |
| 2016 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2015 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.27 |
| 2014 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.29 |
| 2013 | $0.02 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.30 |
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 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 126 trading sessions.
The current Schwab California Tax-Free Bond Fund™ drawdown is 2.17%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -13.51% | Feb 1, 1994 | 210 | Nov 21, 1994 | 126 | May 16, 1995 | 336 |
| -12.11% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -10.48% | Mar 10, 2020 | 9 | Mar 20, 2020 | 92 | Jul 31, 2020 | 101 |
| -8.53% | Apr 13, 1999 | 202 | Jan 20, 2000 | 129 | Jul 26, 2000 | 331 |
| -8.16% | Sep 12, 2008 | 25 | Oct 16, 2008 | 126 | Apr 20, 2009 | 151 |
Volatility
Volatility Chart
The current Schwab California Tax-Free Bond Fund™ volatility is 1.36%, 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.