TAFTX vs. ABALX
Compare and contrast key facts about American Funds Tax-Exempt Fund of California (TAFTX) and American Funds American Balanced Fund Class A (ABALX).
TAFTX is managed by American Funds. It was launched on Oct 27, 1986. ABALX is managed by American Funds. It was launched on Jul 26, 1975.
Performance
TAFTX vs. ABALX - Performance Comparison
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TAFTX vs. ABALX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TAFTX American Funds Tax-Exempt Fund of California | -0.58% | 4.73% | 2.31% | 5.76% | -9.78% | 1.88% | 4.43% | 7.33% | 0.71% | 5.96% |
ABALX American Funds American Balanced Fund Class A | -1.12% | 18.45% | 14.63% | 13.65% | -12.13% | 15.75% | 10.85% | 18.60% | -3.35% | 14.69% |
Returns By Period
In the year-to-date period, TAFTX achieves a -0.58% return, which is significantly higher than ABALX's -1.12% return. Over the past 10 years, TAFTX has underperformed ABALX with an annualized return of 1.97%, while ABALX has yielded a comparatively higher 9.17% annualized return.
TAFTX
- 1D
- 0.24%
- 1M
- -2.29%
- YTD
- -0.58%
- 6M
- 0.84%
- 1Y
- 3.36%
- 3Y*
- 3.22%
- 5Y*
- 0.71%
- 10Y*
- 1.97%
ABALX
- 1D
- 1.79%
- 1M
- -4.88%
- YTD
- -1.12%
- 6M
- 2.08%
- 1Y
- 16.95%
- 3Y*
- 14.07%
- 5Y*
- 8.20%
- 10Y*
- 9.17%
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TAFTX vs. ABALX - Expense Ratio Comparison
TAFTX has a 0.57% expense ratio, which is higher than ABALX's 0.56% expense ratio.
Return for Risk
TAFTX vs. ABALX — Risk / Return Rank
TAFTX
ABALX
TAFTX vs. ABALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Tax-Exempt Fund of California (TAFTX) and American Funds American Balanced Fund Class A (ABALX). 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.
| TAFTX | ABALX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.73 | 1.56 | -0.83 |
Sortino ratioReturn per unit of downside risk | 0.99 | 2.28 | -1.29 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.32 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.87 | 2.43 | -1.57 |
Martin ratioReturn relative to average drawdown | 2.76 | 10.15 | -7.39 |
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
| TAFTX | ABALX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 1.56 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.79 | -0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.87 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.27 | 0.79 | +0.48 |
Correlation
The correlation between TAFTX and ABALX is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TAFTX vs. ABALX - Dividend Comparison
TAFTX's dividend yield for the trailing twelve months is around 3.04%, less than ABALX's 8.39% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAFTX American Funds Tax-Exempt Fund of California | 3.04% | 3.96% | 2.64% | 2.19% | 1.82% | 2.19% | 2.65% | 3.15% | 2.93% | 2.95% | 3.13% | 3.32% |
ABALX American Funds American Balanced Fund Class A | 8.39% | 8.27% | 6.87% | 2.05% | 2.30% | 4.30% | 4.35% | 3.49% | 5.49% | 4.72% | 4.24% | 5.60% |
Drawdowns
TAFTX vs. ABALX - Drawdown Comparison
The maximum TAFTX drawdown since its inception was -18.83%, smaller than the maximum ABALX drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for TAFTX and ABALX.
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Drawdown Indicators
| TAFTX | ABALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.83% | -40.20% | +21.37% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -7.33% | +2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -14.82% | -18.76% | +3.94% |
Max Drawdown (10Y)Largest decline over 10 years | -14.82% | -22.34% | +7.52% |
Current DrawdownCurrent decline from peak | -2.58% | -5.37% | +2.79% |
Average DrawdownAverage peak-to-trough decline | -1.94% | -3.86% | +1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 1.76% | -0.12% |
Volatility
TAFTX vs. ABALX - Volatility Comparison
The current volatility for American Funds Tax-Exempt Fund of California (TAFTX) is 1.18%, while American Funds American Balanced Fund Class A (ABALX) has a volatility of 3.89%. This indicates that TAFTX experiences smaller price fluctuations and is considered to be less risky than ABALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAFTX | ABALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 3.89% | -2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 1.71% | 6.96% | -5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.17% | 11.22% | -6.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 10.45% | -6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.90% | 10.63% | -6.73% |