FVCAX vs. SCD
FVCAX (Franklin California High Yield Municipal Fund Advisor Class) and SCD (LMP Capital and Income Fund Inc.) are both mutual funds - FVCAX is a High Yield Muni fund actively managed by Franklin, while SCD is a Diversified Portfolio fund managed by Franklin. Over the past 10 years, FVCAX returned 2.29%/yr vs 12.39%/yr for SCD. Their -0.03 correlation means they have often moved in opposite directions in the past.
Performance
FVCAX vs. SCD - Performance Comparison
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Returns By Period
In the year-to-date period, FVCAX achieves a 0.85% return, which is significantly lower than SCD's 11.13% return. Over the past 10 years, FVCAX has underperformed SCD with an annualized return of 2.29%, while SCD has yielded a comparatively higher 12.39% annualized return.
FVCAX
- 1D
- -0.21%
- 1M
- -2.24%
- 6M
- 0.27%
- YTD
- 0.85%
- 1Y
- 6.27%
- 3Y*
- 4.56%
- 5Y*
- 0.41%
- 10Y*
- 2.29%
- ALL TIME*
- 3.96%
SCD
- 1D
- 0.65%
- 1M
- 0.79%
- 6M
- 4.75%
- YTD
- 11.13%
- 1Y
- 14.05%
- 3Y*
- 18.53%
- 5Y*
- 12.84%
- 10Y*
- 12.39%
- ALL TIME*
- 10.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.33M | $1.72M | $1.10M |
FVCAX vs. SCD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FVCAX Franklin California High Yield Municipal Fund Advisor Class | 0.85% | 4.77% | 4.98% | 4.66% | -11.86% | 3.97% | 4.64% | 10.29% | 1.15% | 6.87% |
SCD LMP Capital and Income Fund Inc. | 11.13% | -3.80% | 33.95% | 28.09% | -10.04% | 46.29% | -14.89% | 59.16% | -15.56% | 14.59% |
Correlation
The correlation between FVCAX and SCD is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2006 | -0.03 |
The correlation between FVCAX and SCD shifts across timeframes, from -0.03 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FVCAX vs. SCD — Risk / Return Rank
FVCAX
SCD
FVCAX vs. SCD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin California High Yield Municipal Fund Advisor Class (FVCAX) and LMP Capital and Income Fund Inc. (SCD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FVCAX | SCD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.21 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 1.36 | +1.01 |
| Martin ratioReturn relative to average drawdown | 8.32 | 3.83 | +4.49 |
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Drawdowns
FVCAX vs. SCD - Drawdown Comparison
The maximum FVCAX drawdown since its inception was -24.06%, smaller than the maximum SCD drawdown of -62.40%. Use the drawdown chart below to compare losses from any high point for FVCAX and SCD.
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Drawdown Indicators
| FVCAX | SCD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.06% | -62.40% | +38.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -10.36% | +7.52% |
Max Drawdown (3Y)Largest decline over 3 years | -6.15% | -21.81% | +15.66% |
Max Drawdown (5Y)Largest decline over 5 years | -17.59% | -23.41% | +5.82% |
Max Drawdown (10Y)Largest decline over 10 years | -17.59% | -60.76% | +43.17% |
Current DrawdownCurrent decline from peak | -2.24% | 0.00% | -2.24% |
Average DrawdownAverage peak-to-trough decline | -3.54% | -9.98% | +6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 3.67% | -2.86% |
Volatility
FVCAX vs. SCD - Volatility Comparison
The current volatility for Franklin California High Yield Municipal Fund Advisor Class (FVCAX) is 0.99%, while LMP Capital and Income Fund Inc. (SCD) has a volatility of 2.91%. This indicates that FVCAX experiences smaller price fluctuations and is considered to be less risky than SCD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FVCAX | SCD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 2.91% | -1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 8.62% | -6.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.25% | 11.74% | -8.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.73% | 19.64% | -14.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.84% | 23.32% | -18.48% |
Dividends
FVCAX vs. SCD - Dividend Comparison
FVCAX's dividend yield for the trailing twelve months is around 4.12%, less than SCD's 9.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FVCAX Franklin California High Yield Municipal Fund Advisor Class | 4.12% | 5.82% | 4.87% | 3.46% | 3.65% | 3.10% | 3.30% | 4.05% | 3.85% | 3.45% | 3.86% | 4.06% |
SCD LMP Capital and Income Fund Inc. | 9.24% | 9.55% | 7.88% | 8.56% | 12.96% | 10.26% | 10.21% | 7.98% | 11.61% | 8.89% | 9.33% | 9.05% |
Frequently Asked Questions
FVCAX and SCD have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCD has higher volatility (2.91%) compared to FVCAX (0.99%). In terms of maximum drawdown, FVCAX dropped -24.06% vs SCD's -62.40%.
FVCAX currently has the higher Sharpe Ratio (2.11 vs 1.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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