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Vanguard California Long-Term Tax-Exempt Fund Inve...
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX)

Mutual Fund · Currency in USD · Last updated May 30, 2025

Fund Info

ISIN

US9220211000

CUSIP

922021100

Issuer

Vanguard

Inception Date

Apr 7, 1986

Category

Municipal Bonds

Min. Investment

$3,000

Home Page

advisors.vanguard.com

Asset Class

Bond

Expense Ratio

VCITX has an expense ratio of 0.17%, which is considered low.

Share Price Chart

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Compare to other instruments

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

Vanguard California Long-Term Tax-Exempt Fund Investor Shares

Popular comparisons:
VCITX vs. VCAIX VCITX vs. BCHYX VCITX vs. FSDIX VCITX vs. VCIT VCITX vs. PRXCX VCITX vs. CMF VCITX vs. VWITX VCITX vs. BND VCITX vs. VTEB VCITX vs. VYM
Popular comparisons:
VCITX vs. VCAIX VCITX vs. BCHYX VCITX vs. FSDIX VCITX vs. VCIT VCITX vs. PRXCX VCITX vs. CMF VCITX vs. VWITX VCITX vs. BND VCITX vs. VTEB VCITX vs. VYM

Performance

Performance Chart

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S&P 500

Returns By Period

Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) returned -2.30% year-to-date (YTD) and 1.67% over the past 12 months. Over the past 10 years, VCITX returned 2.36% annually, underperforming the S&P 500 benchmark at 10.84%.

VCITX

YTD

-2.30%

1M

-0.06%

6M

-3.11%

1Y

1.67%

3Y*

2.04%

5Y*

0.44%

10Y*

2.36%

^GSPC (Benchmark)

YTD

0.52%

1M

6.32%

6M

-1.44%

1Y

12.25%

3Y*

12.45%

5Y*

14.20%

10Y*

10.84%

*Annualized

Monthly Returns

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

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.10%1.16%-1.97%-0.86%-0.72%-2.30%
2024-0.09%0.01%-0.08%-1.20%-0.07%1.80%0.88%0.80%1.23%-1.52%1.76%-1.36%2.11%
20233.39%-2.63%2.32%-0.19%-0.81%1.06%0.34%-1.34%-3.15%-1.58%7.41%2.93%7.52%
2022-2.89%-0.45%-3.57%-3.97%1.90%-2.76%3.55%-2.66%-4.36%-0.80%6.04%-0.03%-10.06%
20210.51%-1.90%0.83%0.99%0.51%0.27%0.89%-0.43%-0.82%-0.05%0.91%0.18%1.87%
20201.99%1.54%-3.88%-1.63%3.68%0.61%1.88%-0.57%-0.02%-0.19%1.71%0.54%5.59%
20190.62%0.50%1.86%0.58%1.66%0.40%0.90%1.93%-0.72%0.08%0.15%0.31%8.57%
2018-1.45%-0.58%0.53%-0.39%1.47%0.03%0.12%0.19%-0.74%-0.90%1.23%1.22%0.67%
20170.53%0.59%0.37%0.78%1.87%-0.14%0.77%0.93%-0.39%0.35%-0.31%1.27%6.82%
20161.19%0.03%0.69%0.84%0.44%2.12%-0.28%0.35%-0.69%-1.25%-4.86%1.66%0.07%
20152.04%-1.19%0.47%-0.77%-0.19%-0.20%0.90%0.39%0.79%0.38%0.71%1.04%4.41%
20142.74%1.25%0.41%1.44%1.51%0.06%0.32%1.49%0.30%0.80%0.21%0.72%11.82%
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 VCITX is 20, meaning it’s performing worse than 80% 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 VCITX is 2020
Overall Rank
The Sharpe Ratio Rank of VCITX is 2525
Sharpe Ratio Rank
The Sortino Ratio Rank of VCITX is 1616
Sortino Ratio Rank
The Omega Ratio Rank of VCITX is 1818
Omega Ratio Rank
The Calmar Ratio Rank of VCITX is 2222
Calmar Ratio Rank
The Martin Ratio Rank of VCITX is 2020
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 Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) 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.

Vanguard California Long-Term Tax-Exempt Fund Investor Shares Sharpe ratios as of May 30, 2025 (values are recalculated daily):

  • 1-Year: 0.28
  • 5-Year: 0.10
  • 10-Year: 0.53
  • All Time: 1.15

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 Vanguard California Long-Term Tax-Exempt Fund Investor Shares compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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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

Vanguard California Long-Term Tax-Exempt Fund Investor Shares provided a 3.47% dividend yield over the last twelve months, with an annual payout of $0.38 per share. The fund has been increasing its distributions for 2 consecutive years.

2.60%2.80%3.00%3.20%3.40%3.60%$0.00$0.10$0.20$0.30$0.4020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.38$0.38$0.35$0.30$0.37$0.41$0.37$0.40$0.39$0.41$0.43$0.44

Dividend yield

3.47%3.30%2.99%2.66%2.95%3.21%2.93%3.32%3.22%3.45%3.53%3.64%

Monthly Dividends

The table displays the monthly dividend distributions for Vanguard California Long-Term Tax-Exempt Fund Investor Shares. 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$0.38
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$0.35
2022$0.02$0.03$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.03$0.03$0.03$0.30
2021$0.03$0.03$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.10$0.37
2020$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.11$0.41
2019$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.37
2018$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.40
2017$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
2016$0.04$0.03$0.04$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.41
2015$0.04$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.43
2014$0.04$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.44

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.

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Worst Drawdowns

The table below displays the maximum drawdowns of the Vanguard California Long-Term Tax-Exempt Fund Investor Shares. 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 Vanguard California Long-Term Tax-Exempt Fund Investor Shares was 19.43%, occurring on Oct 19, 1987. Recovery took 235 trading sessions.

The current Vanguard California Long-Term Tax-Exempt Fund Investor Shares drawdown is 4.04%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-19.43%Jan 23, 1987192Oct 19, 1987235Sep 12, 1988427
-15.79%Aug 6, 2021308Oct 25, 2022485Oct 1, 2024793
-12.56%Mar 10, 20209Mar 20, 202092Jul 31, 2020101
-12.32%Jan 24, 2008226Dec 15, 2008175Aug 26, 2009401
-12.07%Feb 1, 1994210Nov 21, 199471Feb 28, 1995281
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.

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