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.
Key characteristics
| FCTFX | VCITX | |
|---|---|---|
| YTD Return | 2.13% | 1.98% |
| 1Y Return | 7.26% | 8.22% |
| 3Y Return (Ann) | -0.32% | -0.49% |
| 5Y Return (Ann) | 1.00% | 1.13% |
| 10Y Return (Ann) | 2.20% | 2.62% |
| Sharpe Ratio | 1.98 | 2.29 |
| Sortino Ratio | 2.87 | 3.48 |
| Omega Ratio | 1.46 | 1.53 |
| Calmar Ratio | 0.87 | 0.95 |
| Martin Ratio | 7.77 | 9.55 |
| Ulcer Index | 0.88% | 0.95% |
| Daily Std Dev | 3.47% | 3.97% |
| Max Drawdown | -19.94% | -19.44% |
| Current Drawdown | -1.69% | -2.21% |
Correlation
The correlation between FCTFX and VCITX is 0.82, 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.
Performance
FCTFX vs. VCITX - Performance Comparison
In the year-to-date period, FCTFX achieves a 2.13% return, which is significantly higher than VCITX's 1.98% return. Over the past 10 years, FCTFX has underperformed VCITX with an annualized return of 2.20%, while VCITX has yielded a comparatively higher 2.62% annualized 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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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 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.
Dividends
FCTFX vs. VCITX - Dividend Comparison
FCTFX's dividend yield for the trailing twelve months is around 2.81%, less than VCITX's 3.25% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCTFX Fidelity California Municipal Income Fund | 2.81% | 2.67% | 2.52% | 2.20% | 2.45% | 2.71% | 3.01% | 3.01% | 3.24% | 3.31% | 3.54% | 3.82% |
VCITX Vanguard California Long-Term Tax-Exempt Fund Investor Shares | 3.25% | 2.99% | 2.66% | 2.34% | 2.56% | 2.93% | 3.32% | 3.22% | 3.45% | 3.53% | 3.64% | 4.00% |
Drawdowns
FCTFX vs. VCITX - Drawdown Comparison
The maximum FCTFX drawdown since its inception was -19.94%, roughly equal to the maximum VCITX drawdown of -19.44%. Use the drawdown chart below to compare losses from any high point for FCTFX and VCITX. For additional features, visit the drawdowns tool.
Volatility
FCTFX vs. VCITX - Volatility Comparison
Fidelity California Municipal Income Fund (FCTFX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) have volatilities of 1.86% and 1.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.