GCMFX vs. SWCAX
Compare and contrast key facts about PIMCO California Municipal Opportunistic Value Fund (GCMFX) and Schwab California Tax-Free Bond Fund™ (SWCAX).
GCMFX is managed by Gurtin. It was launched on Nov 2, 2014. SWCAX is managed by Charles Schwab. It was launched on Feb 23, 1992.
Performance
GCMFX vs. SWCAX - Performance Comparison
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GCMFX vs. SWCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GCMFX PIMCO California Municipal Opportunistic Value Fund | -0.46% | 2.76% | 2.24% | 5.22% | -3.47% | 1.76% | 2.69% | 5.06% | 1.83% | 2.96% |
SWCAX Schwab California Tax-Free Bond Fund™ | -0.74% | 3.95% | 1.51% | 4.73% | -8.10% | 0.36% | 3.93% | 6.02% | 1.16% | 4.37% |
Returns By Period
In the year-to-date period, GCMFX achieves a -0.46% return, which is significantly higher than SWCAX's -0.74% return. Over the past 10 years, GCMFX has outperformed SWCAX with an annualized return of 1.83%, while SWCAX has yielded a comparatively lower 1.42% annualized return.
GCMFX
- 1D
- 0.21%
- 1M
- -2.03%
- YTD
- -0.46%
- 6M
- 1.12%
- 1Y
- 2.79%
- 3Y*
- 2.53%
- 5Y*
- 1.46%
- 10Y*
- 1.83%
SWCAX
- 1D
- 0.09%
- 1M
- -2.66%
- YTD
- -0.74%
- 6M
- 0.80%
- 1Y
- 3.41%
- 3Y*
- 2.45%
- 5Y*
- 0.39%
- 10Y*
- 1.42%
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GCMFX vs. SWCAX - Expense Ratio Comparison
GCMFX has a 0.63% expense ratio, which is higher than SWCAX's 0.48% expense ratio.
Return for Risk
GCMFX vs. SWCAX — Risk / Return Rank
GCMFX
SWCAX
GCMFX vs. SWCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO California Municipal Opportunistic Value Fund (GCMFX) and Schwab California Tax-Free Bond Fund™ (SWCAX). 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.
| GCMFX | SWCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.77 | 1.03 | -0.26 |
Sortino ratioReturn per unit of downside risk | 1.07 | 1.39 | -0.33 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.29 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 0.78 | 1.01 | -0.23 |
Martin ratioReturn relative to average drawdown | 2.02 | 3.34 | -1.32 |
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
| GCMFX | SWCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 1.03 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.13 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.43 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 1.17 | -0.48 |
Correlation
The correlation between GCMFX and SWCAX is 0.77, 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
GCMFX vs. SWCAX - Dividend Comparison
GCMFX's dividend yield for the trailing twelve months is around 3.16%, more than SWCAX's 2.99% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GCMFX PIMCO California Municipal Opportunistic Value Fund | 3.16% | 3.39% | 3.34% | 2.59% | 1.91% | 2.34% | 2.65% | 2.56% | 2.40% | 1.51% | 0.17% | 0.00% |
SWCAX Schwab California Tax-Free Bond Fund™ | 2.99% | 3.46% | 2.67% | 2.23% | 1.57% | 1.68% | 2.45% | 2.54% | 2.50% | 2.22% | 3.10% | 2.79% |
Drawdowns
GCMFX vs. SWCAX - Drawdown Comparison
The maximum GCMFX drawdown since its inception was -7.08%, smaller than the maximum SWCAX drawdown of -13.51%. Use the drawdown chart below to compare losses from any high point for GCMFX and SWCAX.
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Drawdown Indicators
| GCMFX | SWCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.08% | -13.51% | +6.43% |
Max Drawdown (1Y)Largest decline over 1 year | -4.19% | -3.99% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -7.08% | -12.30% | +5.22% |
Max Drawdown (10Y)Largest decline over 10 years | -7.08% | -12.30% | +5.22% |
Current DrawdownCurrent decline from peak | -2.03% | -2.66% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -1.04% | -1.88% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.21% | +0.42% |
Volatility
GCMFX vs. SWCAX - Volatility Comparison
PIMCO California Municipal Opportunistic Value Fund (GCMFX) and Schwab California Tax-Free Bond Fund™ (SWCAX) have volatilities of 0.86% and 0.90%, 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
| GCMFX | SWCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.90% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.51% | 1.50% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.28% | 4.03% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.15% | 3.07% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.74% | 3.35% | -0.61% |