DFCMX vs. VMLTX
Compare and contrast key facts about DFA California Short Term Municipal Bond Portfolio (DFCMX) and Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX).
DFCMX is managed by Dimensional Fund Advisors LP. It was launched on Apr 1, 2007. VMLTX is managed by Vanguard. It was launched on Aug 31, 1987.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DFCMX or VMLTX.
Key characteristics
| DFCMX | VMLTX | |
|---|---|---|
| YTD Return | 2.57% | 2.52% |
| 1Y Return | 3.24% | 4.99% |
| 3Y Return (Ann) | 1.48% | 1.23% |
| 5Y Return (Ann) | 1.04% | 1.56% |
| 10Y Return (Ann) | 0.98% | 1.61% |
| Sharpe Ratio | 4.63 | 3.01 |
| Sortino Ratio | 9.65 | 5.05 |
| Omega Ratio | 3.71 | 1.85 |
| Calmar Ratio | 32.76 | 3.07 |
| Martin Ratio | 103.24 | 15.16 |
| Ulcer Index | 0.03% | 0.33% |
| Daily Std Dev | 0.70% | 1.66% |
| Max Drawdown | -2.20% | -6.41% |
| Current Drawdown | 0.00% | -0.49% |
Correlation
The correlation between DFCMX and VMLTX is 0.39, 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
DFCMX vs. VMLTX - Performance Comparison
The year-to-date returns for both stocks are quite close, with DFCMX having a 2.57% return and VMLTX slightly lower at 2.52%. Over the past 10 years, DFCMX has underperformed VMLTX with an annualized return of 0.98%, while VMLTX has yielded a comparatively higher 1.61% annualized 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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DFCMX vs. VMLTX - Expense Ratio Comparison
DFCMX has a 0.19% expense ratio, which is higher than VMLTX'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
DFCMX vs. VMLTX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA California Short Term Municipal Bond Portfolio (DFCMX) and Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX). 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
DFCMX vs. VMLTX - Dividend Comparison
DFCMX's dividend yield for the trailing twelve months is around 2.50%, less than VMLTX's 2.71% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFCMX DFA California Short Term Municipal Bond Portfolio | 2.50% | 1.89% | 0.70% | 0.36% | 0.86% | 1.16% | 1.05% | 0.88% | 0.88% | 0.82% | 0.81% | 0.85% |
VMLTX Vanguard Limited-Term Tax-Exempt Fund Investor Shares | 2.71% | 2.30% | 1.57% | 1.23% | 1.63% | 1.87% | 1.82% | 1.55% | 1.53% | 1.51% | 1.61% | 1.67% |
Drawdowns
DFCMX vs. VMLTX - Drawdown Comparison
The maximum DFCMX drawdown since its inception was -2.20%, smaller than the maximum VMLTX drawdown of -6.41%. Use the drawdown chart below to compare losses from any high point for DFCMX and VMLTX. For additional features, visit the drawdowns tool.
Volatility
DFCMX vs. VMLTX - Volatility Comparison
The current volatility for DFA California Short Term Municipal Bond Portfolio (DFCMX) is 0.25%, while Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) has a volatility of 0.76%. This indicates that DFCMX experiences smaller price fluctuations and is considered to be less risky than VMLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.