CCSTX vs. DFABX

Last updated Apr 1, 2026

Compare and contrast key facts about Capital Group California Short-Term Municipal Fund (CCSTX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX).

CCSTX is managed by Capital Group. It was launched on Apr 12, 2010. DFABX is managed by Dimensional. It was launched on Apr 11, 2022.

Performance

CCSTX vs. DFABX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group California Short-Term Municipal Fund (CCSTX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX). The values are adjusted to include any dividend payments, if applicable.

CCSTX vs. DFABX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CCSTX Capital Group California Short-Term Municipal Fund	-0.12%	4.09%	2.05%	2.50%	0.55%
DFABX DFA Short-Term Selective State Municipal Bond Portfolio	0.58%	2.46%	2.90%	2.87%	0.55%

Returns By Period

In the year-to-date period, CCSTX achieves a -0.12% return, which is significantly lower than DFABX's 0.58% return.

CCSTX

• 1D: -0.10%
• 1M: -1.27%
• YTD: -0.12%
• 6M: 0.45%
• 1Y: 3.07%
• 3Y*: 2.44%
• 5Y*: 1.10%
• 10Y*: 1.15%

DFABX

• 1D: 0.05%
• 1M: -0.05%
• YTD: 0.58%
• 6M: 1.12%
• 1Y: 2.73%
• 3Y*: 2.60%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CCSTX vs. DFABX - Expense Ratio Comparison

CCSTX has a 0.30% expense ratio, which is higher than DFABX's 0.25% expense ratio.

CCSTX

Capital Group California Short-Term Municipal Fund

DFABX

DFA Short-Term Selective State Municipal Bond Portfolio

Return for Risk

CCSTX vs. DFABX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CCSTX

CCSTX Risk / Return Rank: 86
CCSTX Sharpe Ratio Rank: 91
CCSTX Sortino Ratio Rank: 90
CCSTX Omega Ratio Rank: 97
CCSTX Calmar Ratio Rank: 78
CCSTX Martin Ratio Rank: 76

DFABX

DFABX Risk / Return Rank: 99
DFABX Sharpe Ratio Rank: 99
DFABX Sortino Ratio Rank: 99
DFABX Omega Ratio Rank: 99
DFABX Calmar Ratio Rank: 98
DFABX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CCSTX vs. DFABX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group California Short-Term Municipal Fund (CCSTX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX). 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.

	CCSTX	DFABX	Difference
Sharpe ratio Return per unit of total volatility	1.94	3.90	-1.96
Sortino ratio Return per unit of downside risk	2.58	7.13	-4.56
Omega ratio Gain probability vs. loss probability	1.62	3.50	-1.88
Calmar ratio Return relative to maximum drawdown	1.88	4.84	-2.96
Martin ratio Return relative to average drawdown	7.27	26.76	-19.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CCSTX vs. DFABX - Sharpe Ratio Comparison

The current CCSTX Sharpe Ratio is 1.94, which is lower than the DFABX Sharpe Ratio of 3.90. The chart below compares the historical Sharpe Ratios of CCSTX and DFABX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CCSTX	DFABX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	3.90	-1.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	2.44	-1.80

Correlation

The correlation between CCSTX and DFABX is 0.42, 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.

Dividends

CCSTX vs. DFABX - Dividend Comparison

CCSTX's dividend yield for the trailing twelve months is around 2.13%, less than DFABX's 2.70% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CCSTX Capital Group California Short-Term Municipal Fund	2.13%	2.30%	2.13%	1.54%	0.72%	1.02%	1.45%	1.40%	1.30%	0.90%
DFABX DFA Short-Term Selective State Municipal Bond Portfolio	2.70%	2.33%	2.86%	2.52%	1.25%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CCSTX vs. DFABX - Drawdown Comparison

The maximum CCSTX drawdown since its inception was -5.09%, which is greater than DFABX's maximum drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for CCSTX and DFABX.

Drawdown Indicators

	CCSTX	DFABX	Difference
Max Drawdown Largest peak-to-trough decline	-5.09%	-2.46%	-2.63%
Max Drawdown (1Y) Largest decline over 1 year	-1.79%	-0.50%	-1.29%
Max Drawdown (5Y) Largest decline over 5 years	-5.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-5.09%	—	—
Current Drawdown Current decline from peak	-1.27%	-0.06%	-1.21%
Average Drawdown Average peak-to-trough decline	-0.89%	-0.25%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	0.09%	+0.37%

Volatility

CCSTX vs. DFABX - Volatility Comparison

Capital Group California Short-Term Municipal Fund (CCSTX) has a higher volatility of 0.54% compared to DFA Short-Term Selective State Municipal Bond Portfolio (DFABX) at 0.18%. This indicates that CCSTX's price experiences larger fluctuations and is considered to be riskier than DFABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCSTX	DFABX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	0.18%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	0.79%	0.40%	+0.39%
Volatility (1Y) Calculated over the trailing 1-year period	1.80%	0.71%	+1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.54%	0.97%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.57%	0.97%	+0.60%