BCHYX vs. KMLM
Compare and contrast key facts about American Century California High Yield Municipal Fund (BCHYX) and KFA Mount Lucas Index Strategy ETF (KMLM).
BCHYX is managed by American Century Investments. It was launched on Dec 29, 1986. KMLM is an actively managed fund by CICC. It was launched on Dec 2, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BCHYX or KMLM.
Key characteristics
| BCHYX | KMLM | |
|---|---|---|
| YTD Return | 3.63% | -2.88% |
| 1Y Return | 12.08% | -10.14% |
| 3Y Return (Ann) | -0.82% | 3.37% |
| Sharpe Ratio | 3.39 | -1.08 |
| Sortino Ratio | 5.74 | -1.40 |
| Omega Ratio | 1.86 | 0.83 |
| Calmar Ratio | 0.98 | -0.48 |
| Martin Ratio | 17.36 | -1.59 |
| Ulcer Index | 0.77% | 7.71% |
| Daily Std Dev | 4.14% | 11.15% |
| Max Drawdown | -17.64% | -25.42% |
| Current Drawdown | -3.23% | -24.47% |
Correlation
The correlation between BCHYX and KMLM is -0.26. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
BCHYX vs. KMLM - Performance Comparison
In the year-to-date period, BCHYX achieves a 3.63% return, which is significantly higher than KMLM's -2.88% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BCHYX vs. KMLM - Expense Ratio Comparison
BCHYX has a 0.49% expense ratio, which is lower than KMLM's 0.90% expense ratio.
Risk-Adjusted Performance
BCHYX vs. KMLM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century California High Yield Municipal Fund (BCHYX) and KFA Mount Lucas Index Strategy ETF (KMLM). 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.
Dividends
BCHYX vs. KMLM - Dividend Comparison
BCHYX's dividend yield for the trailing twelve months is around 3.77%, while KMLM has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCHYX American Century California High Yield Municipal Fund | 3.77% | 3.65% | 3.43% | 2.94% | 3.06% | 3.22% | 3.52% | 3.49% | 3.61% | 3.70% | 3.87% | 4.23% |
KMLM KFA Mount Lucas Index Strategy ETF | 0.00% | 0.00% | 8.12% | 6.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
BCHYX vs. KMLM - Drawdown Comparison
The maximum BCHYX drawdown since its inception was -17.64%, smaller than the maximum KMLM drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for BCHYX and KMLM. For additional features, visit the drawdowns tool.
Volatility
BCHYX vs. KMLM - Volatility Comparison
The current volatility for American Century California High Yield Municipal Fund (BCHYX) is 1.22%, while KFA Mount Lucas Index Strategy ETF (KMLM) has a volatility of 3.53%. This indicates that BCHYX experiences smaller price fluctuations and is considered to be less risky than KMLM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.