CALI vs. VCADX
Compare and contrast key facts about iShares Short-Term California Muni Active ETF (CALI) and Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX).
CALI is a passively managed fund by iShares that tracks the performance of the ICE AMT-Free California Municipal Index. It was launched on Oct 4, 2007. VCADX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
CALI vs. VCADX - Performance Comparison
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CALI vs. VCADX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CALI iShares Short-Term California Muni Active ETF | 0.30% | 3.28% | 2.84% | 1.97% |
VCADX Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares | -0.70% | 5.90% | 2.24% | 3.63% |
Returns By Period
In the year-to-date period, CALI achieves a 0.30% return, which is significantly higher than VCADX's -0.70% return.
CALI
- 1D
- 0.07%
- 1M
- -0.46%
- YTD
- 0.30%
- 6M
- 0.80%
- 1Y
- 2.75%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VCADX
- 1D
- 0.18%
- 1M
- -2.81%
- YTD
- -0.70%
- 6M
- 0.87%
- 1Y
- 4.57%
- 3Y*
- 3.59%
- 5Y*
- 1.53%
- 10Y*
- 2.25%
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CALI vs. VCADX - Expense Ratio Comparison
CALI has a 0.08% expense ratio, which is lower than VCADX's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
CALI vs. VCADX — Risk / Return Rank
CALI
VCADX
CALI vs. VCADX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term California Muni Active ETF (CALI) and Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX). 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.
| CALI | VCADX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.53 | 1.39 | +1.14 |
Sortino ratioReturn per unit of downside risk | 3.29 | 1.87 | +1.42 |
Omega ratioGain probability vs. loss probability | 1.63 | 1.40 | +0.23 |
Calmar ratioReturn relative to maximum drawdown | 3.51 | 1.48 | +2.04 |
Martin ratioReturn relative to average drawdown | 15.32 | 5.66 | +9.67 |
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
| CALI | VCADX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.53 | 1.39 | +1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.48 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.76 | 1.08 | +1.68 |
Correlation
The correlation between CALI and VCADX is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
CALI vs. VCADX - Dividend Comparison
CALI's dividend yield for the trailing twelve months is around 2.57%, less than VCADX's 3.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CALI iShares Short-Term California Muni Active ETF | 2.57% | 2.62% | 3.14% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCADX Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares | 3.14% | 3.82% | 3.35% | 2.57% | 2.36% | 1.77% | 2.28% | 2.72% | 2.71% | 2.66% | 2.76% | 2.86% |
Drawdowns
CALI vs. VCADX - Drawdown Comparison
The maximum CALI drawdown since its inception was -0.78%, smaller than the maximum VCADX drawdown of -11.13%. Use the drawdown chart below to compare losses from any high point for CALI and VCADX.
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Drawdown Indicators
| CALI | VCADX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.78% | -11.13% | +10.35% |
Max Drawdown (1Y)Largest decline over 1 year | -0.78% | -3.78% | +3.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.13% | — |
Current DrawdownCurrent decline from peak | -0.46% | -2.81% | +2.35% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -1.50% | +1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.99% | -0.81% |
Volatility
CALI vs. VCADX - Volatility Comparison
The current volatility for iShares Short-Term California Muni Active ETF (CALI) is 0.34%, while Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) has a volatility of 0.94%. This indicates that CALI experiences smaller price fluctuations and is considered to be less risky than VCADX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CALI | VCADX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 0.94% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 0.52% | 1.53% | -1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.09% | 3.91% | -2.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.13% | 3.22% | -2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.13% | 3.42% | -2.29% |