Correlation
The correlation between FCAL and VTEB is 0.06, 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.
FCAL vs. VTEB
Compare and contrast key facts about First Trust California Municipal High Income ETF (FCAL) and Vanguard Tax-Exempt Bond ETF (VTEB).
FCAL and VTEB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCAL is an actively managed fund by First Trust. It was launched on Jun 20, 2017. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FCAL or VTEB.
Performance
FCAL vs. VTEB - Performance Comparison
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Key characteristics
FCAL:
0.24
VTEB:
0.32
FCAL:
0.23
VTEB:
0.39
FCAL:
1.03
VTEB:
1.06
FCAL:
0.13
VTEB:
0.28
FCAL:
0.46
VTEB:
0.80
FCAL:
1.79%
VTEB:
1.66%
FCAL:
5.42%
VTEB:
4.76%
FCAL:
-14.81%
VTEB:
-17.00%
FCAL:
-4.32%
VTEB:
-3.16%
Returns By Period
The year-to-date returns for both stocks are quite close, with FCAL having a -1.57% return and VTEB slightly lower at -1.59%.
FCAL
-1.57%
-0.18%
-2.97%
1.08%
1.81%
1.24%
N/A
VTEB
-1.59%
-0.37%
-2.85%
1.32%
1.51%
0.45%
N/A
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FCAL vs. VTEB - Expense Ratio Comparison
FCAL has a 0.50% expense ratio, which is higher than VTEB's 0.05% expense ratio.
Risk-Adjusted Performance
FCAL vs. VTEB — Risk-Adjusted Performance Rank
FCAL
VTEB
FCAL vs. VTEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust California Municipal High Income ETF (FCAL) and Vanguard Tax-Exempt Bond ETF (VTEB). 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.
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Dividends
FCAL vs. VTEB - Dividend Comparison
FCAL's dividend yield for the trailing twelve months is around 3.18%, less than VTEB's 3.27% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
FCAL First Trust California Municipal High Income ETF | 3.18% | 2.99% | 2.74% | 2.38% | 2.03% | 2.11% | 2.68% | 2.99% | 1.30% | 0.00% | 0.00% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.27% | 3.14% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% |
Drawdowns
FCAL vs. VTEB - Drawdown Comparison
The maximum FCAL drawdown since its inception was -14.81%, smaller than the maximum VTEB drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for FCAL and VTEB.
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Volatility
FCAL vs. VTEB - Volatility Comparison
The current volatility for First Trust California Municipal High Income ETF (FCAL) is 0.87%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.05%. This indicates that FCAL experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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