BCHYX vs. FCAL
Compare and contrast key facts about American Century California High Yield Municipal Fund (BCHYX) and First Trust California Municipal High Income ETF (FCAL).
BCHYX is managed by American Century. It was launched on Dec 29, 1986. FCAL is an actively managed fund by First Trust. It was launched on Jun 20, 2017.
Performance
BCHYX vs. FCAL - Performance Comparison
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BCHYX vs. FCAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCHYX American Century California High Yield Municipal Fund | -0.79% | 3.48% | 4.07% | 6.69% | -12.77% | 3.82% | 3.95% | 9.92% | 0.65% | 2.95% |
FCAL First Trust California Municipal High Income ETF | 0.00% | 3.19% | 1.90% | 6.08% | -9.50% | 3.26% | 3.51% | 9.32% | 0.31% | 4.41% |
Returns By Period
BCHYX
- 1D
- 0.21%
- 1M
- -2.76%
- YTD
- -0.79%
- 6M
- 1.04%
- 1Y
- 3.49%
- 3Y*
- 3.57%
- 5Y*
- 0.59%
- 10Y*
- 2.35%
FCAL
- 1D
- 0.27%
- 1M
- -2.08%
- YTD
- 0.00%
- 6M
- 1.94%
- 1Y
- 4.14%
- 3Y*
- 2.88%
- 5Y*
- 0.77%
- 10Y*
- —
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BCHYX vs. FCAL - Expense Ratio Comparison
BCHYX has a 0.49% expense ratio, which is lower than FCAL's 0.50% expense ratio.
Return for Risk
BCHYX vs. FCAL — Risk / Return Rank
BCHYX
FCAL
BCHYX vs. FCAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century California High Yield Municipal Fund (BCHYX) and First Trust California Municipal High Income ETF (FCAL). 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.
| BCHYX | FCAL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.68 | 0.93 | -0.25 |
Sortino ratioReturn per unit of downside risk | 0.96 | 1.21 | -0.25 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.76 | 0.97 | -0.21 |
Martin ratioReturn relative to average drawdown | 2.27 | 2.69 | -0.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BCHYX | FCAL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 0.93 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.18 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.18 | 0.46 | +0.72 |
Correlation
The correlation between BCHYX and FCAL is 0.53, 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.
Dividends
BCHYX vs. FCAL - Dividend Comparison
BCHYX's dividend yield for the trailing twelve months is around 4.36%, more than FCAL's 3.32% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCHYX American Century California High Yield Municipal Fund | 4.36% | 4.58% | 4.41% | 3.67% | 2.55% | 2.57% | 3.07% | 3.50% | 3.52% | 3.50% | 3.59% | 3.67% |
FCAL First Trust California Municipal High Income ETF | 3.32% | 3.22% | 2.99% | 2.74% | 2.38% | 2.03% | 2.11% | 2.68% | 2.99% | 1.30% | 0.00% | 0.00% |
Drawdowns
BCHYX vs. FCAL - Drawdown Comparison
The maximum BCHYX drawdown since its inception was -18.35%, which is greater than FCAL's maximum drawdown of -14.81%. Use the drawdown chart below to compare losses from any high point for BCHYX and FCAL.
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Drawdown Indicators
| BCHYX | FCAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.35% | -14.81% | -3.54% |
Max Drawdown (1Y)Largest decline over 1 year | -5.76% | -4.30% | -1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -18.35% | -14.44% | -3.91% |
Max Drawdown (10Y)Largest decline over 10 years | -18.35% | — | — |
Current DrawdownCurrent decline from peak | -2.76% | -2.08% | -0.68% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -3.40% | +1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 1.55% | +0.37% |
Volatility
BCHYX vs. FCAL - Volatility Comparison
The current volatility for American Century California High Yield Municipal Fund (BCHYX) is 1.13%, while First Trust California Municipal High Income ETF (FCAL) has a volatility of 1.48%. This indicates that BCHYX experiences smaller price fluctuations and is considered to be less risky than FCAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCHYX | FCAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.48% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 1.93% | 1.90% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 4.49% | +1.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.83% | 4.26% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 5.29% | -0.50% |