CALY vs. FCAL
Compare and contrast key facts about Blackrock Short-Term California Muni Bond ETF (CALY) and First Trust California Municipal High Income ETF (FCAL).
CALY and FCAL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CALY is an actively managed fund by BlackRock. It was launched on Jul 11, 2023. FCAL is an actively managed fund by First Trust. It was launched on Jun 20, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CALY or FCAL.
Key characteristics
| CALY | FCAL | |
|---|---|---|
| YTD Return | 2.48% | 2.40% |
| 1Y Return | 3.45% | 6.90% |
| Sharpe Ratio | 3.30 | 2.00 |
| Sortino Ratio | 5.50 | 2.98 |
| Omega Ratio | 1.73 | 1.40 |
| Calmar Ratio | 11.62 | 0.86 |
| Martin Ratio | 45.75 | 11.50 |
| Ulcer Index | 0.08% | 0.68% |
| Daily Std Dev | 1.09% | 3.92% |
| Max Drawdown | -0.74% | -14.81% |
| Current Drawdown | -0.16% | -2.32% |
Correlation
The correlation between CALY and FCAL is 0.35, 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.
Performance
CALY vs. FCAL - Performance Comparison
The year-to-date returns for both stocks are quite close, with CALY having a 2.48% return and FCAL slightly lower at 2.40%. 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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CALY vs. FCAL - Expense Ratio Comparison
CALY has a 0.20% expense ratio, which is lower than FCAL's 0.50% expense ratio.
Risk-Adjusted Performance
CALY vs. FCAL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackrock Short-Term California Muni Bond ETF (CALY) 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.
Dividends
CALY vs. FCAL - Dividend Comparison
CALY's dividend yield for the trailing twelve months is around 3.14%, less than FCAL's 3.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
CALY Blackrock Short-Term California Muni Bond ETF | 3.14% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FCAL First Trust California Municipal High Income ETF | 3.19% | 2.75% | 2.38% | 2.03% | 2.11% | 2.68% | 2.99% | 1.30% |
Drawdowns
CALY vs. FCAL - Drawdown Comparison
The maximum CALY drawdown since its inception was -0.74%, smaller than the maximum FCAL drawdown of -14.81%. Use the drawdown chart below to compare losses from any high point for CALY and FCAL. For additional features, visit the drawdowns tool.
Volatility
CALY vs. FCAL - Volatility Comparison
The current volatility for Blackrock Short-Term California Muni Bond ETF (CALY) is 0.32%, while First Trust California Municipal High Income ETF (FCAL) has a volatility of 1.50%. This indicates that CALY 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.