CMF vs. VCAIX
Compare and contrast key facts about iShares California Muni Bond ETF (CMF) and Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX).
CMF is a passively managed fund by iShares that tracks the performance of the S&P California AMT-Free Municipal Bond Index. It was launched on Oct 4, 2007. VCAIX is managed by Vanguard. It was launched on Mar 4, 1994.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CMF or VCAIX.
Correlation
The correlation between CMF and VCAIX is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
CMF vs. VCAIX - Performance Comparison
Key characteristics
CMF:
0.03
VCAIX:
0.36
CMF:
0.07
VCAIX:
0.49
CMF:
1.01
VCAIX:
1.08
CMF:
0.03
VCAIX:
0.37
CMF:
0.10
VCAIX:
1.33
CMF:
1.49%
VCAIX:
1.14%
CMF:
5.03%
VCAIX:
4.26%
CMF:
-16.45%
VCAIX:
-11.25%
CMF:
-4.25%
VCAIX:
-2.55%
Returns By Period
In the year-to-date period, CMF achieves a -2.57% return, which is significantly lower than VCAIX's -1.22% return. Over the past 10 years, CMF has underperformed VCAIX with an annualized return of 1.60%, while VCAIX has yielded a comparatively higher 1.97% annualized return.
CMF
-2.57%
-0.69%
-1.63%
0.57%
0.46%
1.60%
VCAIX
-1.22%
-0.55%
-0.86%
1.78%
1.11%
1.97%
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CMF vs. VCAIX - Expense Ratio Comparison
CMF has a 0.25% expense ratio, which is higher than VCAIX's 0.17% 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
CMF vs. VCAIX — Risk-Adjusted Performance Rank
CMF
VCAIX
CMF vs. VCAIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares California Muni Bond ETF (CMF) and Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX). 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
CMF vs. VCAIX - Dividend Comparison
CMF's dividend yield for the trailing twelve months is around 2.94%, more than VCAIX's 2.89% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMF iShares California Muni Bond ETF | 2.94% | 2.78% | 2.29% | 1.91% | 1.58% | 1.80% | 2.03% | 2.17% | 2.09% | 2.21% | 2.55% | 2.80% |
VCAIX Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares | 2.89% | 2.78% | 2.50% | 2.28% | 2.02% | 2.18% | 2.46% | 2.63% | 2.59% | 2.65% | 2.78% | 3.00% |
Drawdowns
CMF vs. VCAIX - Drawdown Comparison
The maximum CMF drawdown since its inception was -16.45%, which is greater than VCAIX's maximum drawdown of -11.25%. Use the drawdown chart below to compare losses from any high point for CMF and VCAIX. For additional features, visit the drawdowns tool.
Volatility
CMF vs. VCAIX - Volatility Comparison
iShares California Muni Bond ETF (CMF) has a higher volatility of 3.52% compared to Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) at 3.25%. This indicates that CMF's price experiences larger fluctuations and is considered to be riskier than VCAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.