DSFIX vs. VCAIX
DSFIX (DFA Social Fixed Income Portfolio) and VCAIX (Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares) are both mutual funds - DSFIX is a Intermediate Core Bond fund managed by Dimensional, while VCAIX is a Municipal Bonds fund actively managed by Vanguard. Over the past 5 years, DSFIX returned -0.16%/yr vs 1.19%/yr for VCAIX. Their 0.49 correlation means their historical movements had little consistent relationship. DSFIX charges 0.21%/yr vs 0.14%/yr for VCAIX.
Performance
DSFIX vs. VCAIX - Performance Comparison
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Returns By Period
In the year-to-date period, DSFIX achieves a -0.27% return, which is significantly lower than VCAIX's -0.18% return.
DSFIX
- 1D
- 0.09%
- 1M
- -1.11%
- 6M
- -0.45%
- YTD
- -0.27%
- 1Y
- 1.88%
- 3Y*
- 4.13%
- 5Y*
- -0.16%
- 10Y*
- —
- ALL TIME*
- 2.10%
VCAIX
- 1D
- -0.26%
- 1M
- -1.73%
- 6M
- -1.11%
- YTD
- -0.18%
- 1Y
- 3.91%
- 3Y*
- 3.71%
- 5Y*
- 1.19%
- 10Y*
- 2.02%
- ALL TIME*
- 3.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DSFIX vs. VCAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DSFIX DFA Social Fixed Income Portfolio | -0.27% | 6.80% | 1.81% | 7.18% | -13.07% | -2.19% | 9.26% | 9.83% | -0.32% | 3.24% |
VCAIX Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares | -0.18% | 5.83% | 2.15% | 5.82% | -6.69% | 0.40% | 4.53% | 6.95% | 1.19% | 4.83% |
Correlation
The correlation between DSFIX and VCAIX is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.49 |
The correlation between DSFIX and VCAIX shifts across timeframes, from 0.49 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DSFIX vs. VCAIX — Risk / Return Rank
DSFIX
VCAIX
DSFIX vs. VCAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA Social Fixed Income Portfolio (DSFIX) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DSFIX | VCAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.47 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 1.56 | -0.52 |
| Martin ratioReturn relative to average drawdown | 2.56 | 4.48 | -1.92 |
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Drawdowns
DSFIX vs. VCAIX - Drawdown Comparison
The maximum DSFIX drawdown since its inception was -18.94%, which is greater than VCAIX's maximum drawdown of -11.22%. Use the drawdown chart below to compare losses from any high point for DSFIX and VCAIX.
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Drawdown Indicators
| DSFIX | VCAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.94% | -11.22% | -7.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.98% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -4.42% | -3.88% | -0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -18.79% | -11.22% | -7.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.22% | — |
Current DrawdownCurrent decline from peak | -2.09% | -2.29% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -4.61% | -1.36% | -3.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.04% | +0.04% |
Volatility
DSFIX vs. VCAIX - Volatility Comparison
DFA Social Fixed Income Portfolio (DSFIX) has a higher volatility of 0.97% compared to Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) at 0.81%. This indicates that DSFIX'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.
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Volatility by Period
| DSFIX | VCAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.81% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 1.95% | +0.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 2.36% | +1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 3.26% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.94% | 3.42% | +1.52% |
DSFIX vs. VCAIX - Expense Ratio Comparison
DSFIX has a 0.21% expense ratio, which is higher than VCAIX's 0.14% 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%.
Dividends
DSFIX vs. VCAIX - Dividend Comparison
DSFIX's dividend yield for the trailing twelve months is around 4.37%, more than VCAIX's 2.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DSFIX DFA Social Fixed Income Portfolio | 4.37% | 3.61% | 3.95% | 3.28% | 2.54% | 2.70% | 2.22% | 2.58% | 2.56% | 1.87% | 0.00% | 0.00% |
VCAIX Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares | 2.90% | 3.75% | 3.27% | 2.49% | 2.28% | 1.71% | 2.19% | 2.64% | 2.63% | 2.56% | 2.65% | 2.78% |
Frequently Asked Questions
DSFIX and VCAIX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DSFIX has higher volatility (0.97%) compared to VCAIX (0.81%). In terms of maximum drawdown, DSFIX dropped -18.94% vs VCAIX's -11.22%.
VCAIX currently has the higher Sharpe Ratio (1.97 vs 0.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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