FKTFX vs. VCITX
Compare and contrast key facts about Franklin California Tax Free Income Fund (FKTFX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX).
FKTFX is managed by Franklin Templeton. It was launched on Jan 30, 1977. VCITX is managed by Vanguard. It was launched on Apr 7, 1986.
Performance
FKTFX vs. VCITX - Performance Comparison
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FKTFX vs. VCITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FKTFX Franklin California Tax Free Income Fund | -0.88% | 4.38% | 2.78% | 6.25% | -10.31% | 1.80% | 5.29% | 9.73% | 0.31% | 6.08% |
VCITX Vanguard California Long-Term Tax-Exempt Fund Investor Shares | -1.00% | 4.90% | 2.66% | 7.51% | -10.06% | 1.46% | 5.60% | 8.81% | 0.67% | 6.82% |
Returns By Period
In the year-to-date period, FKTFX achieves a -0.88% return, which is significantly higher than VCITX's -1.00% return. Both investments have delivered pretty close results over the past 10 years, with FKTFX having a 2.29% annualized return and VCITX not far ahead at 2.40%.
FKTFX
- 1D
- 0.15%
- 1M
- -3.05%
- YTD
- -0.88%
- 6M
- 0.98%
- 1Y
- 3.28%
- 3Y*
- 3.34%
- 5Y*
- 0.80%
- 10Y*
- 2.29%
VCITX
- 1D
- 0.27%
- 1M
- -3.17%
- YTD
- -1.00%
- 6M
- 0.86%
- 1Y
- 4.03%
- 3Y*
- 3.63%
- 5Y*
- 1.10%
- 10Y*
- 2.40%
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FKTFX vs. VCITX - Expense Ratio Comparison
FKTFX has a 0.62% expense ratio, which is higher than VCITX's 0.17% expense ratio.
Return for Risk
FKTFX vs. VCITX — Risk / Return Rank
FKTFX
VCITX
FKTFX vs. VCITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin California Tax Free Income Fund (FKTFX) 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.
| FKTFX | VCITX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.77 | 0.89 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.06 | 1.21 | -0.15 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.85 | 0.97 | -0.12 |
Martin ratioReturn relative to average drawdown | 2.45 | 2.95 | -0.50 |
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
| FKTFX | VCITX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 0.89 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.25 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.53 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 1.01 | -0.39 |
Correlation
The correlation between FKTFX and VCITX is 0.71, 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
FKTFX vs. VCITX - Dividend Comparison
FKTFX's dividend yield for the trailing twelve months is around 3.82%, more than VCITX's 3.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKTFX Franklin California Tax Free Income Fund | 3.82% | 4.96% | 4.22% | 3.20% | 3.29% | 2.68% | 2.91% | 3.85% | 3.58% | 3.58% | 3.65% | 3.93% |
VCITX Vanguard California Long-Term Tax-Exempt Fund Investor Shares | 3.58% | 4.34% | 3.85% | 2.99% | 2.66% | 2.56% | 3.21% | 3.16% | 3.32% | 3.22% | 3.45% | 3.50% |
Drawdowns
FKTFX vs. VCITX - Drawdown Comparison
The maximum FKTFX drawdown since its inception was -31.16%, which is greater than VCITX's maximum drawdown of -22.71%. Use the drawdown chart below to compare losses from any high point for FKTFX and VCITX.
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Drawdown Indicators
| FKTFX | VCITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -22.71% | -8.45% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -5.34% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | -15.79% | -0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -16.21% | -15.79% | -0.42% |
Current DrawdownCurrent decline from peak | -3.05% | -3.17% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -6.11% | -2.58% | -3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.76% | +0.09% |
Volatility
FKTFX vs. VCITX - Volatility Comparison
Franklin California Tax Free Income Fund (FKTFX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) have volatilities of 1.21% and 1.26%, 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.
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Volatility by Period
| FKTFX | VCITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.26% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.97% | 1.96% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.48% | 5.43% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.46% | 4.51% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 4.54% | +0.20% |