FCTFX vs. VCLAX
Compare and contrast key facts about Fidelity California Municipal Income Fund (FCTFX) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX).
FCTFX is managed by Fidelity. It was launched on Jul 7, 1984. VCLAX is managed by Vanguard. It was launched on Nov 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FCTFX or VCLAX.
Key characteristics
| FCTFX | VCLAX | |
|---|---|---|
| YTD Return | 2.05% | 2.06% |
| 1Y Return | 7.82% | 9.22% |
| 3Y Return (Ann) | -0.35% | -0.41% |
| 5Y Return (Ann) | 0.98% | 1.20% |
| 10Y Return (Ann) | 2.19% | 2.71% |
| Sharpe Ratio | 1.98 | 2.31 |
| Sortino Ratio | 2.87 | 3.52 |
| Omega Ratio | 1.46 | 1.54 |
| Calmar Ratio | 0.86 | 0.90 |
| Martin Ratio | 7.83 | 9.76 |
| Ulcer Index | 0.87% | 0.94% |
| Daily Std Dev | 3.47% | 3.98% |
| Max Drawdown | -19.94% | -16.25% |
| Current Drawdown | -1.77% | -1.95% |
Correlation
The correlation between FCTFX and VCLAX is 0.89, 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. VCLAX - Performance Comparison
The year-to-date returns for both investments are quite close, with FCTFX having a 2.05% return and VCLAX slightly higher at 2.06%. Over the past 10 years, FCTFX has underperformed VCLAX with an annualized return of 2.19%, while VCLAX has yielded a comparatively higher 2.71% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
FCTFX vs. VCLAX - Expense Ratio Comparison
FCTFX has a 0.45% expense ratio, which is higher than VCLAX's 0.09% expense ratio.
Risk-Adjusted Performance
FCTFX vs. VCLAX - 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 Admiral Shares (VCLAX). 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. VCLAX - Dividend Comparison
FCTFX's dividend yield for the trailing twelve months is around 2.82%, less than VCLAX's 3.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCTFX Fidelity California Municipal Income Fund | 2.82% | 2.67% | 2.52% | 2.20% | 2.45% | 2.71% | 3.01% | 3.01% | 3.24% | 3.31% | 3.54% | 3.82% |
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 3.34% | 3.07% | 2.74% | 2.40% | 2.64% | 3.01% | 3.39% | 3.34% | 3.56% | 3.58% | 3.71% | 4.07% |
Drawdowns
FCTFX vs. VCLAX - Drawdown Comparison
The maximum FCTFX drawdown since its inception was -19.94%, which is greater than VCLAX's maximum drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for FCTFX and VCLAX. For additional features, visit the drawdowns tool.
Volatility
FCTFX vs. VCLAX - Volatility Comparison
Fidelity California Municipal Income Fund (FCTFX) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) have volatilities of 1.87% and 1.96%, 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.