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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TACAX or VCITX.
Key characteristics
| TACAX | VCITX | |
|---|---|---|
| YTD Return | 3.71% | 2.92% |
| 1Y Return | 10.63% | 9.14% |
| 3Y Return (Ann) | 0.95% | -0.04% |
| 5Y Return (Ann) | 1.80% | 1.65% |
| 10Y Return (Ann) | 2.68% | 2.95% |
| Sharpe Ratio | 1.97 | 2.06 |
| Daily Std Dev | 5.35% | 4.44% |
| Max Drawdown | -15.79% | -19.43% |
| Current Drawdown | 0.00% | -0.70% |
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.
Performance
TACAX vs. VCITX - Performance Comparison
In the year-to-date period, TACAX achieves a 3.71% return, which is significantly higher than VCITX's 2.92% return. Over the past 10 years, TACAX has underperformed VCITX with an annualized return of 2.68%, while VCITX has yielded a comparatively higher 2.95% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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.
Risk-Adjusted Performance
TACAX vs. VCITX - Risk-Adjusted Performance 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.
Dividends
TACAX vs. VCITX - Dividend Comparison
TACAX's dividend yield for the trailing twelve months is around 3.31%, more than VCITX's 3.18% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TACAX John Hancock California Municipal Bond Fund | 3.31% | 3.21% | 3.48% | 3.25% | 2.85% | 2.62% | 3.51% | 3.48% | 3.66% | 3.68% | 4.00% | 4.44% |
VCITX Vanguard California Long-Term Tax-Exempt Fund Investor Shares | 3.18% | 2.99% | 2.66% | 2.95% | 3.21% | 2.93% | 3.32% | 3.22% | 3.45% | 3.53% | 3.64% | 4.00% |
Drawdowns
TACAX vs. VCITX - Drawdown Comparison
The maximum TACAX drawdown since its inception was -15.79%, smaller than the maximum VCITX drawdown of -19.43%. Use the drawdown chart below to compare losses from any high point for TACAX and VCITX. For additional features, visit the drawdowns tool.
Volatility
TACAX vs. VCITX - Volatility Comparison
John Hancock California Municipal Bond Fund (TACAX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) have volatilities of 0.51% and 0.49%, 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.