MMCA vs. VCADX
Compare and contrast key facts about IQ MacKay California Municipal Intermediate ETF (MMCA) and Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX).
MMCA is an actively managed fund by IndexIQ. It was launched on Dec 21, 2021. VCADX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
MMCA vs. VCADX - Performance Comparison
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MMCA vs. VCADX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MMCA IQ MacKay California Municipal Intermediate ETF | -0.43% | 5.74% | 1.70% | 5.77% | -12.15% | 0.01% |
VCADX Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares | -0.70% | 5.90% | 2.24% | 5.91% | -6.61% | 0.05% |
Returns By Period
In the year-to-date period, MMCA achieves a -0.43% return, which is significantly higher than VCADX's -0.70% return.
MMCA
- 1D
- 0.19%
- 1M
- -2.60%
- YTD
- -0.43%
- 6M
- 1.02%
- 1Y
- 4.71%
- 3Y*
- 3.45%
- 5Y*
- —
- 10Y*
- —
VCADX
- 1D
- 0.18%
- 1M
- -2.81%
- YTD
- -0.70%
- 6M
- 0.87%
- 1Y
- 4.57%
- 3Y*
- 3.59%
- 5Y*
- 1.53%
- 10Y*
- 2.25%
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MMCA vs. VCADX - Expense Ratio Comparison
MMCA has a 0.36% expense ratio, which is higher than VCADX's 0.09% expense ratio.
Return for Risk
MMCA vs. VCADX — Risk / Return Rank
MMCA
VCADX
MMCA vs. VCADX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ MacKay California Municipal Intermediate ETF (MMCA) and Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX). 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.
| MMCA | VCADX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.39 | 1.39 | 0.00 |
Sortino ratioReturn per unit of downside risk | 1.81 | 1.87 | -0.06 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.40 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.48 | +0.19 |
Martin ratioReturn relative to average drawdown | 6.09 | 5.66 | +0.44 |
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
| MMCA | VCADX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 1.39 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.48 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 1.08 | -1.11 |
Correlation
The correlation between MMCA and VCADX is 0.75, 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
MMCA vs. VCADX - Dividend Comparison
MMCA's dividend yield for the trailing twelve months is around 3.67%, more than VCADX's 3.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMCA IQ MacKay California Municipal Intermediate ETF | 3.67% | 3.39% | 3.66% | 3.57% | 2.90% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCADX Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares | 3.14% | 3.82% | 3.35% | 2.57% | 2.36% | 1.77% | 2.28% | 2.72% | 2.71% | 2.66% | 2.76% | 2.86% |
Drawdowns
MMCA vs. VCADX - Drawdown Comparison
The maximum MMCA drawdown since its inception was -15.97%, which is greater than VCADX's maximum drawdown of -11.13%. Use the drawdown chart below to compare losses from any high point for MMCA and VCADX.
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Drawdown Indicators
| MMCA | VCADX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.97% | -11.13% | -4.84% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -3.78% | +0.77% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.13% | — |
Current DrawdownCurrent decline from peak | -2.60% | -2.81% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -7.26% | -1.50% | -5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.99% | -0.17% |
Volatility
MMCA vs. VCADX - Volatility Comparison
IQ MacKay California Municipal Intermediate ETF (MMCA) has a higher volatility of 1.23% compared to Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) at 0.94%. This indicates that MMCA's price experiences larger fluctuations and is considered to be riskier than VCADX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMCA | VCADX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.94% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 1.53% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 3.91% | -0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 3.22% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.64% | 3.42% | +0.22% |