BCHYX vs. TAIAX
BCHYX (American Century California High Yield Municipal Fund) and TAIAX (American Funds Tax-Aware Conservative Growth and Income Portfolio) are both mutual funds - BCHYX is a Municipal Bonds fund managed by American Century, while TAIAX is a Diversified Portfolio fund managed by American Funds. Over the past 10 years, BCHYX returned 2.15%/yr vs 7.66%/yr for TAIAX. Their 0.10 correlation means their historical movements had little consistent relationship. BCHYX charges 0.49%/yr vs 0.34%/yr for TAIAX.
Performance
BCHYX vs. TAIAX - Performance Comparison
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Returns By Period
In the year-to-date period, BCHYX achieves a 0.76% return, which is significantly lower than TAIAX's 6.47% return. Over the past 10 years, BCHYX has underperformed TAIAX with an annualized return of 2.15%, while TAIAX has yielded a comparatively higher 7.66% annualized return.
BCHYX
- 1D
- -0.10%
- 1M
- -2.16%
- 6M
- 0.11%
- YTD
- 0.76%
- 1Y
- 6.43%
- 3Y*
- 4.04%
- 5Y*
- 0.16%
- 10Y*
- 2.15%
- ALL TIME*
- 4.72%
TAIAX
- 1D
- 0.22%
- 1M
- -0.39%
- 6M
- 4.13%
- YTD
- 6.47%
- 1Y
- 13.99%
- 3Y*
- 11.51%
- 5Y*
- 6.85%
- 10Y*
- 7.66%
- ALL TIME*
- 8.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BCHYX vs. TAIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCHYX American Century California High Yield Municipal Fund | 0.76% | 3.48% | 4.07% | 6.69% | -12.77% | 3.82% | 3.95% | 9.92% | 0.65% | 8.50% |
TAIAX American Funds Tax-Aware Conservative Growth and Income Portfolio | 6.47% | 13.27% | 10.09% | 11.74% | -10.18% | 13.47% | 7.46% | 16.26% | -2.17% | 14.25% |
Correlation
The correlation between BCHYX and TAIAX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.29 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.18 |
Correlation (All Time) Calculated using the full available price history since May 21, 2012 | 0.10 |
Over the past year, BCHYX and TAIAX have become more correlated (0.35) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
BCHYX vs. TAIAX — Risk / Return Rank
BCHYX
TAIAX
BCHYX vs. TAIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century California High Yield Municipal Fund (BCHYX) and American Funds Tax-Aware Conservative Growth and Income Portfolio (TAIAX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BCHYX | TAIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.38 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.21 | +0.12 |
| Martin ratioReturn relative to average drawdown | 8.24 | 10.00 | -1.76 |
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Drawdowns
BCHYX vs. TAIAX - Drawdown Comparison
The maximum BCHYX drawdown since its inception was -18.35%, smaller than the maximum TAIAX drawdown of -21.42%. Use the drawdown chart below to compare losses from any high point for BCHYX and TAIAX.
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Drawdown Indicators
| BCHYX | TAIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.35% | -21.42% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -6.16% | +3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -6.75% | -8.75% | +2.00% |
Max Drawdown (5Y)Largest decline over 5 years | -18.35% | -16.76% | -1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -18.35% | -21.42% | +3.07% |
Current DrawdownCurrent decline from peak | -2.16% | -0.72% | -1.44% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -2.19% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 1.36% | -0.52% |
Volatility
BCHYX vs. TAIAX - Volatility Comparison
The current volatility for American Century California High Yield Municipal Fund (BCHYX) is 1.09%, while American Funds Tax-Aware Conservative Growth and Income Portfolio (TAIAX) has a volatility of 1.72%. This indicates that BCHYX experiences smaller price fluctuations and is considered to be less risky than TAIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCHYX | TAIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.72% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 5.73% | -3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.33% | 6.89% | -3.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.90% | 7.69% | -2.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.82% | 8.18% | -3.36% |
BCHYX vs. TAIAX - Expense Ratio Comparison
BCHYX has a 0.49% expense ratio, which is higher than TAIAX's 0.34% expense ratio.
Dividends
BCHYX vs. TAIAX - Dividend Comparison
BCHYX's dividend yield for the trailing twelve months is around 3.71%, less than TAIAX's 4.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCHYX American Century California High Yield Municipal Fund | 3.71% | 4.58% | 4.41% | 3.67% | 2.55% | 2.57% | 3.07% | 3.50% | 3.52% | 3.50% | 3.59% | 3.67% |
TAIAX American Funds Tax-Aware Conservative Growth and Income Portfolio | 4.85% | 5.18% | 5.16% | 4.29% | 4.37% | 3.40% | 2.65% | 4.01% | 4.54% | 4.04% | 2.77% | 3.38% |
Frequently Asked Questions
BCHYX and TAIAX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TAIAX has higher volatility (1.72%) compared to BCHYX (1.09%). In terms of maximum drawdown, BCHYX dropped -18.35% vs TAIAX's -21.42%.
BCHYX currently has the higher Sharpe Ratio (2.10 vs 1.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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