Correlation
The correlation between PCTEX and BND is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
PCTEX vs. BND
Compare and contrast key facts about Putnam California Tax Exempt Income Fund (PCTEX) and Vanguard Total Bond Market ETF (BND).
PCTEX is managed by Putnam. It was launched on Apr 28, 1983. BND is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. Aggregate Bond Index. It was launched on Apr 3, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PCTEX or BND.
Performance
PCTEX vs. BND - Performance Comparison
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Key characteristics
PCTEX:
0.13
BND:
1.10
PCTEX:
0.16
BND:
1.60
PCTEX:
1.03
BND:
1.19
PCTEX:
0.08
BND:
0.47
PCTEX:
0.26
BND:
2.79
PCTEX:
2.24%
BND:
2.11%
PCTEX:
6.51%
BND:
5.32%
PCTEX:
-57.26%
BND:
-18.84%
PCTEX:
-4.91%
BND:
-7.09%
Returns By Period
In the year-to-date period, PCTEX achieves a -2.74% return, which is significantly lower than BND's 2.49% return. Over the past 10 years, PCTEX has outperformed BND with an annualized return of 2.07%, while BND has yielded a comparatively lower 1.54% annualized return.
PCTEX
-2.74%
-0.98%
-4.31%
0.85%
1.57%
0.66%
2.07%
BND
2.49%
-0.40%
0.77%
5.44%
1.52%
-1.00%
1.54%
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PCTEX vs. BND - Expense Ratio Comparison
PCTEX has a 0.77% expense ratio, which is higher than BND's 0.03% expense ratio.
Risk-Adjusted Performance
PCTEX vs. BND — Risk-Adjusted Performance Rank
PCTEX
BND
PCTEX vs. BND - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam California Tax Exempt Income Fund (PCTEX) and Vanguard Total Bond Market ETF (BND). 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.
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Dividends
PCTEX vs. BND - Dividend Comparison
PCTEX's dividend yield for the trailing twelve months is around 3.35%, less than BND's 3.74% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCTEX Putnam California Tax Exempt Income Fund | 3.06% | 3.16% | 2.98% | 2.71% | 4.16% | 3.61% | 4.32% | 3.99% | 3.20% | 3.57% | 3.73% | 3.86% |
BND Vanguard Total Bond Market ETF | 3.74% | 3.67% | 3.09% | 2.60% | 1.97% | 2.22% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% | 2.79% |
Drawdowns
PCTEX vs. BND - Drawdown Comparison
The maximum PCTEX drawdown since its inception was -57.26%, which is greater than BND's maximum drawdown of -18.84%. Use the drawdown chart below to compare losses from any high point for PCTEX and BND.
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Volatility
PCTEX vs. BND - Volatility Comparison
The current volatility for Putnam California Tax Exempt Income Fund (PCTEX) is 1.07%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.52%. This indicates that PCTEX experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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