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.
Correlation
The correlation between FCTFX and VCLAX is 0.90, 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
Key characteristics
FCTFX:
0.99
VCLAX:
0.72
FCTFX:
1.34
VCLAX:
1.02
FCTFX:
1.21
VCLAX:
1.15
FCTFX:
0.92
VCLAX:
0.49
FCTFX:
3.15
VCLAX:
2.27
FCTFX:
1.11%
VCLAX:
1.23%
FCTFX:
3.58%
VCLAX:
3.82%
FCTFX:
-19.94%
VCLAX:
-16.25%
FCTFX:
-1.85%
VCLAX:
-2.00%
Returns By Period
In the year-to-date period, FCTFX achieves a 0.00% return, which is significantly higher than VCLAX's -0.17% return. Over the past 10 years, FCTFX has underperformed VCLAX with an annualized return of 2.18%, while VCLAX has yielded a comparatively higher 2.39% annualized return.
FCTFX
0.00%
0.00%
0.19%
2.75%
0.93%
2.18%
VCLAX
-0.17%
-0.17%
-0.24%
1.57%
0.60%
2.39%
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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 Rank
FCTFX
VCLAX
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 3.54%, more than VCLAX's 3.13% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCTFX Fidelity California Municipal Income Fund | 3.54% | 3.78% | 3.34% | 3.16% | 2.20% | 2.45% | 2.71% | 3.51% | 3.01% | 3.24% | 3.31% | 3.54% |
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 3.13% | 3.38% | 3.07% | 2.74% | 2.40% | 2.64% | 3.01% | 3.39% | 3.34% | 3.56% | 3.58% | 3.71% |
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) has a higher volatility of 1.20% compared to Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) at 1.14%. This indicates that FCTFX's price experiences larger fluctuations and is considered to be riskier than VCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.