TACAX vs. VCITX
Compare and contrast key facts about John Hancock California Municipal Bond Fund (TACAX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX).
TACAX is managed by John Hancock. It was launched on Dec 28, 1989. VCITX is managed by Vanguard. It was launched on Apr 7, 1986.
Performance
TACAX vs. VCITX - Performance Comparison
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TACAX vs. VCITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TACAX John Hancock California Municipal Bond Fund | -1.19% | 3.05% | 2.32% | 7.28% | -9.13% | 2.32% | 3.70% | 7.71% | 0.43% | 6.11% |
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, TACAX achieves a -1.19% return, which is significantly lower than VCITX's -1.00% return. Over the past 10 years, TACAX has underperformed VCITX with an annualized return of 1.96%, while VCITX has yielded a comparatively higher 2.40% annualized return.
TACAX
- 1D
- 0.31%
- 1M
- -3.39%
- YTD
- -1.19%
- 6M
- 0.57%
- 1Y
- 2.67%
- 3Y*
- 2.69%
- 5Y*
- 0.84%
- 10Y*
- 1.96%
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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TACAX vs. VCITX - Expense Ratio Comparison
TACAX has a 0.81% expense ratio, which is higher than VCITX's 0.17% expense ratio.
Return for Risk
TACAX vs. VCITX — Risk / Return Rank
TACAX
VCITX
TACAX vs. VCITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock California Municipal Bond Fund (TACAX) 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.
| TACAX | VCITX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.52 | 0.89 | -0.38 |
Sortino ratioReturn per unit of downside risk | 0.74 | 1.21 | -0.47 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.24 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.59 | 0.97 | -0.38 |
Martin ratioReturn relative to average drawdown | 1.57 | 2.95 | -1.38 |
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
| TACAX | VCITX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.52 | 0.89 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.25 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.53 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 1.01 | +0.16 |
Correlation
The correlation between TACAX and VCITX is 0.83, 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
TACAX vs. VCITX - Dividend Comparison
TACAX's dividend yield for the trailing twelve months is around 3.86%, more than VCITX's 3.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TACAX John Hancock California Municipal Bond Fund | 3.86% | 4.64% | 3.09% | 2.40% | 2.93% | 3.04% | 2.86% | 4.16% | 3.51% | 3.48% | 3.64% | 3.66% |
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
TACAX vs. VCITX - Drawdown Comparison
The maximum TACAX drawdown since its inception was -15.80%, smaller than the maximum VCITX drawdown of -22.71%. Use the drawdown chart below to compare losses from any high point for TACAX and VCITX.
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Drawdown Indicators
| TACAX | VCITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.80% | -22.71% | +6.91% |
Max Drawdown (1Y)Largest decline over 1 year | -6.83% | -5.34% | -1.49% |
Max Drawdown (5Y)Largest decline over 5 years | -15.09% | -15.79% | +0.70% |
Max Drawdown (10Y)Largest decline over 10 years | -15.09% | -15.79% | +0.70% |
Current DrawdownCurrent decline from peak | -3.39% | -3.17% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -2.02% | -2.58% | +0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 1.76% | +0.80% |
Volatility
TACAX vs. VCITX - Volatility Comparison
John Hancock California Municipal Bond Fund (TACAX) has a higher volatility of 1.49% compared to Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) at 1.26%. This indicates that TACAX's price experiences larger fluctuations and is considered to be riskier than VCITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TACAX | VCITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 1.26% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 1.96% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.01% | 5.43% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.22% | 4.51% | +0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 4.54% | +0.13% |