CALY vs. VTEB
Compare and contrast key facts about Blackrock Short-Term California Muni Bond ETF (CALY) and Vanguard Tax-Exempt Bond ETF (VTEB).
CALY and VTEB 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. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CALY or VTEB.
Key characteristics
| CALY | VTEB | |
|---|---|---|
| YTD Return | 2.48% | 1.18% |
| 1Y Return | 3.45% | 6.04% |
| Sharpe Ratio | 3.30 | 1.73 |
| Sortino Ratio | 5.50 | 2.57 |
| Omega Ratio | 1.73 | 1.34 |
| Calmar Ratio | 11.62 | 0.93 |
| Martin Ratio | 45.75 | 7.57 |
| Ulcer Index | 0.08% | 0.91% |
| Daily Std Dev | 1.09% | 3.97% |
| Max Drawdown | -0.74% | -17.00% |
| Current Drawdown | -0.16% | -1.61% |
Correlation
The correlation between CALY and VTEB is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
CALY vs. VTEB - Performance Comparison
In the year-to-date period, CALY achieves a 2.48% return, which is significantly higher than VTEB's 1.18% 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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CALY vs. VTEB - Expense Ratio Comparison
CALY has a 0.20% expense ratio, which is higher than VTEB's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
CALY vs. VTEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackrock Short-Term California Muni Bond ETF (CALY) and Vanguard Tax-Exempt Bond ETF (VTEB). 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. VTEB - Dividend Comparison
CALY's dividend yield for the trailing twelve months is around 3.14%, which matches VTEB's 3.11% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
CALY Blackrock Short-Term California Muni Bond ETF | 3.14% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.11% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Drawdowns
CALY vs. VTEB - Drawdown Comparison
The maximum CALY drawdown since its inception was -0.74%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for CALY and VTEB. For additional features, visit the drawdowns tool.
Volatility
CALY vs. VTEB - Volatility Comparison
The current volatility for Blackrock Short-Term California Muni Bond ETF (CALY) is 0.32%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.95%. This indicates that CALY experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.