FCSTX vs. VCADX
Compare and contrast key facts about Fidelity California Limited Term Tax-Free Bond Fund (FCSTX) and Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX).
FCSTX is managed by Fidelity. It was launched on Oct 25, 2005. VCADX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
FCSTX vs. VCADX - Performance Comparison
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FCSTX vs. VCADX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCSTX Fidelity California Limited Term Tax-Free Bond Fund | -0.49% | 5.23% | 1.73% | 3.53% | -4.71% | 0.20% | 2.93% | 4.07% | 1.25% | 2.27% |
VCADX Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares | -0.70% | 5.90% | 2.24% | 5.91% | -6.61% | 0.46% | 4.62% | 7.04% | 1.28% | 4.94% |
Returns By Period
In the year-to-date period, FCSTX achieves a -0.49% return, which is significantly higher than VCADX's -0.70% return. Over the past 10 years, FCSTX has underperformed VCADX with an annualized return of 1.43%, while VCADX has yielded a comparatively higher 2.25% annualized return.
FCSTX
- 1D
- 0.00%
- 1M
- -1.88%
- YTD
- -0.49%
- 6M
- 0.09%
- 1Y
- 3.43%
- 3Y*
- 2.81%
- 5Y*
- 1.13%
- 10Y*
- 1.43%
VCADX
- 1D
- 0.18%
- 1M
- -2.81%
- YTD
- -0.70%
- 6M
- 0.87%
- 1Y
- 4.57%
- 3Y*
- 3.59%
- 5Y*
- 1.53%
- 10Y*
- 2.25%
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FCSTX vs. VCADX - Expense Ratio Comparison
FCSTX has a 0.47% expense ratio, which is higher than VCADX's 0.09% expense ratio.
Return for Risk
FCSTX vs. VCADX — Risk / Return Rank
FCSTX
VCADX
FCSTX vs. VCADX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity California Limited Term Tax-Free Bond Fund (FCSTX) and Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX). 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.
| FCSTX | VCADX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.74 | 1.39 | +0.36 |
Sortino ratioReturn per unit of downside risk | 2.40 | 1.87 | +0.53 |
Omega ratioGain probability vs. loss probability | 1.57 | 1.40 | +0.17 |
Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.48 | +0.38 |
Martin ratioReturn relative to average drawdown | 7.27 | 5.66 | +1.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCSTX | VCADX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 1.39 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.48 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 0.66 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.23 | 1.08 | +0.15 |
Correlation
The correlation between FCSTX and VCADX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FCSTX vs. VCADX - Dividend Comparison
FCSTX's dividend yield for the trailing twelve months is around 2.22%, less than VCADX's 3.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCSTX Fidelity California Limited Term Tax-Free Bond Fund | 2.22% | 2.85% | 2.00% | 1.68% | 1.01% | 1.22% | 1.68% | 1.72% | 1.71% | 1.58% | 1.89% | 1.63% |
VCADX Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares | 3.14% | 3.82% | 3.35% | 2.57% | 2.36% | 1.77% | 2.28% | 2.72% | 2.71% | 2.66% | 2.76% | 2.86% |
Drawdowns
FCSTX vs. VCADX - Drawdown Comparison
The maximum FCSTX drawdown since its inception was -7.58%, smaller than the maximum VCADX drawdown of -11.13%. Use the drawdown chart below to compare losses from any high point for FCSTX and VCADX.
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Drawdown Indicators
| FCSTX | VCADX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.58% | -11.13% | +3.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.21% | -3.78% | +1.57% |
Max Drawdown (5Y)Largest decline over 5 years | -7.58% | -11.13% | +3.55% |
Max Drawdown (10Y)Largest decline over 10 years | -7.58% | -11.13% | +3.55% |
Current DrawdownCurrent decline from peak | -1.88% | -2.81% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -1.50% | +0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.99% | -0.42% |
Volatility
FCSTX vs. VCADX - Volatility Comparison
The current volatility for Fidelity California Limited Term Tax-Free Bond Fund (FCSTX) is 0.61%, while Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) has a volatility of 0.94%. This indicates that FCSTX experiences smaller price fluctuations and is considered to be less risky than VCADX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCSTX | VCADX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 0.94% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 1.53% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.31% | 3.91% | -1.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.08% | 3.22% | -1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.20% | 3.42% | -1.22% |