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

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Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) is up 1.9% since the beginning of the year. VCITX is currently trading at $12 per share. Investors who bought $1,000 worth of VCITX shares 5 years ago would now be looking at an investment worth $1,069.

Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) has returned 1.94% so far this year and 8.17% over the past 12 months. Over the last ten years, VCITX has returned 2.47% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Apr 7, 1986, VCITX's average daily return is +0.02%, while the average monthly return is +0.39%. At this rate, an investment would double in approximately 14.8 years.

Historically, 64% of months were positive and 36% were negative. The best month was Nov 2023 with a return of +7.4%, while the worst month was Apr 1987 at -8.9%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 5 months.

On a daily basis, VCITX closed higher 40% of trading days. The best single day was Oct 22, 1987 with a return of +5.6%, while the worst single day was Apr 15, 1987 at -3.3%.

Vanguard California Long-Term Tax-Exempt Fund Investor Shares has an annualized alpha of 4.59%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since April 07, 1986.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (17.38%) than losses (4.77%) - typical of diversified or defensive assets.
• Beta of 0.01 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.

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

VCITX ranks 71 for risk / return — better than 71% 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.

Vanguard California Long-Term Tax-Exempt Fund Investor Shares provided a 3.54% dividend yield over the last twelve months, with an annual payout of $0.41 per share. The fund has been increasing its distributions for 3 consecutive years.

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.

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 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 22.71%, occurring on Oct 16, 1987. Recovery took 781 trading sessions.

The current Vanguard California Long-Term Tax-Exempt Fund Investor Shares drawdown is 0.30%.

The chart below shows the rolling one-month volatility.