Correlation
The correlation between FCTFX and VCITX is 0.01, 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.
FCTFX vs. VCITX
Compare and contrast key facts about Fidelity California Municipal Income Fund (FCTFX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX).
FCTFX is managed by Fidelity. It was launched on Jul 7, 1984. VCITX is managed by Vanguard. It was launched on Apr 7, 1986.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FCTFX or VCITX.
Performance
FCTFX vs. VCITX - Performance Comparison
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Key characteristics
FCTFX:
0.41
VCITX:
0.28
FCTFX:
0.59
VCITX:
0.29
FCTFX:
1.10
VCITX:
1.05
FCTFX:
0.41
VCITX:
0.18
FCTFX:
1.29
VCITX:
0.56
FCTFX:
1.85%
VCITX:
2.02%
FCTFX:
5.51%
VCITX:
5.94%
FCTFX:
-19.94%
VCITX:
-19.43%
FCTFX:
-3.20%
VCITX:
-4.04%
Returns By Period
In the year-to-date period, FCTFX achieves a -1.37% return, which is significantly higher than VCITX's -2.30% return. Over the past 10 years, FCTFX has underperformed VCITX with an annualized return of 2.06%, while VCITX has yielded a comparatively higher 2.36% annualized return.
FCTFX
-1.37%
0.24%
-2.26%
2.29%
2.08%
0.64%
2.06%
VCITX
-2.30%
-0.06%
-3.11%
1.67%
2.04%
0.44%
2.36%
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FCTFX vs. VCITX - Expense Ratio Comparison
FCTFX has a 0.45% expense ratio, which is higher than VCITX's 0.17% expense ratio.
Risk-Adjusted Performance
FCTFX vs. VCITX — Risk-Adjusted Performance Rank
FCTFX
VCITX
FCTFX vs. VCITX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity California Municipal Income Fund (FCTFX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX). 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
FCTFX vs. VCITX - Dividend Comparison
FCTFX's dividend yield for the trailing twelve months is around 2.92%, less than VCITX's 3.47% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCTFX Fidelity California Municipal Income Fund | 2.92% | 2.84% | 2.67% | 2.51% | 2.66% | 2.79% | 2.84% | 3.02% | 3.53% | 3.24% | 3.31% | 3.54% |
VCITX Vanguard California Long-Term Tax-Exempt Fund Investor Shares | 3.47% | 3.30% | 2.99% | 2.66% | 2.95% | 3.21% | 2.93% | 3.32% | 3.22% | 3.45% | 3.53% | 3.64% |
Drawdowns
FCTFX vs. VCITX - Drawdown Comparison
The maximum FCTFX drawdown since its inception was -19.94%, roughly equal to the maximum VCITX drawdown of -19.43%. Use the drawdown chart below to compare losses from any high point for FCTFX and VCITX.
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Volatility
FCTFX vs. VCITX - Volatility Comparison
The current volatility for Fidelity California Municipal Income Fund (FCTFX) is 0.93%, while Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) has a volatility of 1.11%. This indicates that FCTFX experiences smaller price fluctuations and is considered to be less risky than VCITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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