FCAL vs. BCHYX
Compare and contrast key facts about First Trust California Municipal High Income ETF (FCAL) and American Century California High Yield Municipal Fund (BCHYX).
FCAL is an actively managed fund by First Trust. It was launched on Jun 20, 2017. BCHYX is managed by American Century Investments. It was launched on Dec 29, 1986.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FCAL or BCHYX.
Key characteristics
| FCAL | BCHYX | |
|---|---|---|
| YTD Return | 2.37% | 3.83% |
| 1Y Return | 7.74% | 11.08% |
| 3Y Return (Ann) | -0.44% | -0.80% |
| 5Y Return (Ann) | 1.19% | 1.26% |
| Sharpe Ratio | 2.04 | 2.76 |
| Sortino Ratio | 3.05 | 4.22 |
| Omega Ratio | 1.40 | 1.67 |
| Calmar Ratio | 0.85 | 0.87 |
| Martin Ratio | 11.88 | 13.55 |
| Ulcer Index | 0.68% | 0.82% |
| Daily Std Dev | 3.93% | 4.02% |
| Max Drawdown | -14.81% | -17.63% |
| Current Drawdown | -2.35% | -3.03% |
Correlation
The correlation between FCAL and BCHYX is 0.50, 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
FCAL vs. BCHYX - Performance Comparison
In the year-to-date period, FCAL achieves a 2.37% return, which is significantly lower than BCHYX's 3.83% 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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FCAL vs. BCHYX - Expense Ratio Comparison
FCAL has a 0.50% expense ratio, which is higher than BCHYX's 0.49% expense ratio.
Risk-Adjusted Performance
FCAL vs. BCHYX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust California Municipal High Income ETF (FCAL) and American Century California High Yield Municipal Fund (BCHYX). 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
FCAL vs. BCHYX - Dividend Comparison
FCAL's dividend yield for the trailing twelve months is around 2.94%, less than BCHYX's 3.75% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCAL First Trust California Municipal High Income ETF | 2.94% | 2.75% | 2.38% | 2.03% | 2.11% | 2.68% | 2.99% | 1.30% | 0.00% | 0.00% | 0.00% | 0.00% |
BCHYX American Century California High Yield Municipal Fund | 3.75% | 3.67% | 3.43% | 2.94% | 3.07% | 3.24% | 3.50% | 3.48% | 3.61% | 3.70% | 3.87% | 4.23% |
Drawdowns
FCAL vs. BCHYX - Drawdown Comparison
The maximum FCAL drawdown since its inception was -14.81%, smaller than the maximum BCHYX drawdown of -17.63%. Use the drawdown chart below to compare losses from any high point for FCAL and BCHYX. For additional features, visit the drawdowns tool.
Volatility
FCAL vs. BCHYX - Volatility Comparison
The current volatility for First Trust California Municipal High Income ETF (FCAL) is 1.51%, while American Century California High Yield Municipal Fund (BCHYX) has a volatility of 1.96%. This indicates that FCAL experiences smaller price fluctuations and is considered to be less risky than BCHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.