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BCHYX vs. CMF
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between BCHYX and CMF is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.


-0.50.00.51.00.5

Performance

BCHYX vs. CMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century California High Yield Municipal Fund (BCHYX) and iShares California Muni Bond ETF (CMF). The values are adjusted to include any dividend payments, if applicable.

75.00%80.00%85.00%90.00%95.00%100.00%SeptemberOctoberNovemberDecember2025February
96.00%
76.14%
BCHYX
CMF

Key characteristics

Sharpe Ratio

BCHYX:

1.10

CMF:

0.64

Sortino Ratio

BCHYX:

1.49

CMF:

0.90

Omega Ratio

BCHYX:

1.23

CMF:

1.12

Calmar Ratio

BCHYX:

0.57

CMF:

0.46

Martin Ratio

BCHYX:

3.43

CMF:

2.17

Ulcer Index

BCHYX:

1.25%

CMF:

1.12%

Daily Std Dev

BCHYX:

3.89%

CMF:

3.78%

Max Drawdown

BCHYX:

-17.63%

CMF:

-16.45%

Current Drawdown

BCHYX:

-2.40%

CMF:

-1.35%

Returns By Period

In the year-to-date period, BCHYX achieves a 0.74% return, which is significantly higher than CMF's 0.55% return. Over the past 10 years, BCHYX has outperformed CMF with an annualized return of 2.87%, while CMF has yielded a comparatively lower 1.94% annualized return.


BCHYX

YTD

0.74%

1M

0.72%

6M

0.63%

1Y

3.83%

5Y*

0.46%

10Y*

2.87%

CMF

YTD

0.55%

1M

1.11%

6M

1.17%

1Y

2.11%

5Y*

0.27%

10Y*

1.94%

*Annualized

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BCHYX vs. CMF - Expense Ratio Comparison

BCHYX has a 0.49% expense ratio, which is higher than CMF's 0.25% expense ratio.


Expense ratio chart for BCHYX: current value at 0.49% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.49%
Expense ratio chart for CMF: current value at 0.25% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.25%

Risk-Adjusted Performance

BCHYX vs. CMF — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BCHYX
The Risk-Adjusted Performance Rank of BCHYX is 6161
Overall Rank
The Sharpe Ratio Rank of BCHYX is 6464
Sharpe Ratio Rank
The Sortino Ratio Rank of BCHYX is 6161
Sortino Ratio Rank
The Omega Ratio Rank of BCHYX is 7272
Omega Ratio Rank
The Calmar Ratio Rank of BCHYX is 5151
Calmar Ratio Rank
The Martin Ratio Rank of BCHYX is 5757
Martin Ratio Rank

CMF
The Risk-Adjusted Performance Rank of CMF is 2929
Overall Rank
The Sharpe Ratio Rank of CMF is 3131
Sharpe Ratio Rank
The Sortino Ratio Rank of CMF is 2727
Sortino Ratio Rank
The Omega Ratio Rank of CMF is 2828
Omega Ratio Rank
The Calmar Ratio Rank of CMF is 2828
Calmar Ratio Rank
The Martin Ratio Rank of CMF is 3030
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.

BCHYX vs. CMF - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century California High Yield Municipal Fund (BCHYX) and iShares California Muni Bond ETF (CMF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.


The chart of Sharpe ratio for BCHYX, currently valued at 1.10, compared to the broader market-1.000.001.002.003.004.001.100.64
The chart of Sortino ratio for BCHYX, currently valued at 1.49, compared to the broader market0.002.004.006.008.0010.001.490.90
The chart of Omega ratio for BCHYX, currently valued at 1.23, compared to the broader market1.002.003.001.231.12
The chart of Calmar ratio for BCHYX, currently valued at 0.57, compared to the broader market0.005.0010.0015.000.570.46
The chart of Martin ratio for BCHYX, currently valued at 3.43, compared to the broader market0.0020.0040.0060.0080.003.432.17
BCHYX
CMF

The current BCHYX Sharpe Ratio is 1.10, which is higher than the CMF Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of BCHYX and CMF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00SeptemberOctoberNovemberDecember2025February
1.10
0.64
BCHYX
CMF

Dividends

BCHYX vs. CMF - Dividend Comparison

BCHYX's dividend yield for the trailing twelve months is around 3.45%, more than CMF's 2.56% yield.


TTM20242023202220212020201920182017201620152014
BCHYX
American Century California High Yield Municipal Fund
3.45%3.76%3.67%3.43%2.94%3.07%3.24%3.50%3.48%3.61%3.70%3.87%
CMF
iShares California Muni Bond ETF
2.56%2.78%2.29%1.91%1.58%1.80%2.03%2.17%2.09%2.21%2.55%2.80%

Drawdowns

BCHYX vs. CMF - Drawdown Comparison

The maximum BCHYX drawdown since its inception was -17.63%, which is greater than CMF's maximum drawdown of -16.45%. Use the drawdown chart below to compare losses from any high point for BCHYX and CMF. For additional features, visit the drawdowns tool.


-4.00%-3.00%-2.00%-1.00%SeptemberOctoberNovemberDecember2025February
-2.40%
-1.35%
BCHYX
CMF

Volatility

BCHYX vs. CMF - Volatility Comparison

American Century California High Yield Municipal Fund (BCHYX) has a higher volatility of 1.17% compared to iShares California Muni Bond ETF (CMF) at 1.02%. This indicates that BCHYX's price experiences larger fluctuations and is considered to be riskier than CMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%SeptemberOctoberNovemberDecember2025February
1.17%
1.02%
BCHYX
CMF