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

Key characteristics


BCHYXQQQ
YTD Return3.63%19.19%
1Y Return12.08%33.08%
3Y Return (Ann)-0.82%7.58%
5Y Return (Ann)1.14%20.31%
10Y Return (Ann)3.00%17.95%
Sharpe Ratio3.392.01
Sortino Ratio5.742.66
Omega Ratio1.861.36
Calmar Ratio0.982.56
Martin Ratio17.369.32
Ulcer Index0.77%3.72%
Daily Std Dev4.14%17.23%
Max Drawdown-17.64%-82.98%
Current Drawdown-3.23%-3.23%

Correlation

-0.50.00.51.0-0.1

The correlation between BCHYX and QQQ is -0.07. 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. QQQ - Performance Comparison

In the year-to-date period, BCHYX achieves a 3.63% return, which is significantly lower than QQQ's 19.19% return. Over the past 10 years, BCHYX has underperformed QQQ with an annualized return of 3.00%, while QQQ has yielded a comparatively higher 17.95% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


0.00%5.00%10.00%15.00%JuneJulyAugustSeptemberOctoberNovember
2.84%
10.71%
BCHYX
QQQ

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BCHYX vs. QQQ - Expense Ratio Comparison

BCHYX has a 0.49% expense ratio, which is higher than QQQ's 0.20% expense ratio.


BCHYX
American Century California High Yield Municipal Fund
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 QQQ: current value at 0.20% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.20%

Risk-Adjusted Performance

BCHYX vs. QQQ - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century California High Yield Municipal Fund (BCHYX) and Invesco QQQ (QQQ). 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
Sharpe ratio
The chart of Sharpe ratio for BCHYX, currently valued at 3.19, compared to the broader market0.002.004.003.19
Sortino ratio
The chart of Sortino ratio for BCHYX, currently valued at 5.23, compared to the broader market0.005.0010.005.23
Omega ratio
The chart of Omega ratio for BCHYX, currently valued at 1.79, compared to the broader market1.002.003.004.001.79
Calmar ratio
The chart of Calmar ratio for BCHYX, currently valued at 0.89, compared to the broader market0.005.0010.0015.0020.000.89
Martin ratio
The chart of Martin ratio for BCHYX, currently valued at 15.59, compared to the broader market0.0020.0040.0060.0080.00100.0015.59
QQQ
Sharpe ratio
The chart of Sharpe ratio for QQQ, currently valued at 1.92, compared to the broader market0.002.004.001.92
Sortino ratio
The chart of Sortino ratio for QQQ, currently valued at 2.56, compared to the broader market0.005.0010.002.56
Omega ratio
The chart of Omega ratio for QQQ, currently valued at 1.35, compared to the broader market1.002.003.004.001.35
Calmar ratio
The chart of Calmar ratio for QQQ, currently valued at 2.44, compared to the broader market0.005.0010.0015.0020.002.44
Martin ratio
The chart of Martin ratio for QQQ, currently valued at 8.90, compared to the broader market0.0020.0040.0060.0080.00100.008.90

BCHYX vs. QQQ - Sharpe Ratio Comparison

The current BCHYX Sharpe Ratio is 3.39, which is higher than the QQQ Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of BCHYX and QQQ, 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 Ratio1.002.003.004.00JuneJulyAugustSeptemberOctoberNovember
3.19
1.92
BCHYX
QQQ

Dividends

BCHYX vs. QQQ - Dividend Comparison

BCHYX's dividend yield for the trailing twelve months is around 3.77%, more than QQQ's 0.62% yield.


TTM20232022202120202019201820172016201520142013
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%
QQQ
Invesco QQQ
0.62%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%1.41%1.01%

Drawdowns

BCHYX vs. QQQ - Drawdown Comparison

The maximum BCHYX drawdown since its inception was -17.64%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for BCHYX and QQQ. For additional features, visit the drawdowns tool.


-14.00%-12.00%-10.00%-8.00%-6.00%-4.00%-2.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-3.23%
-3.23%
BCHYX
QQQ

Volatility

BCHYX vs. QQQ - Volatility Comparison

The current volatility for American Century California High Yield Municipal Fund (BCHYX) is 1.22%, while Invesco QQQ (QQQ) has a volatility of 4.47%. This indicates that BCHYX experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%2.00%4.00%6.00%8.00%JuneJulyAugustSeptemberOctoberNovember
1.22%
4.47%
BCHYX
QQQ