TAFTX vs. GFFFX
TAFTX (American Funds Tax-Exempt Fund of California) and GFFFX (American Funds The Growth Fund of America Class F-2) are both mutual funds - TAFTX is a Municipal Bonds fund managed by American Funds, while GFFFX is a Large Cap Growth Equities fund actively managed by American Funds. Over the past 10 years, TAFTX returned 1.82%/yr vs 15.27%/yr for GFFFX. Their -0.08 correlation means they have often moved in opposite directions in the past. TAFTX charges 0.57%/yr vs 0.40%/yr for GFFFX.
Performance
TAFTX vs. GFFFX - Performance Comparison
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Returns By Period
In the year-to-date period, TAFTX achieves a 0.20% return, which is significantly lower than GFFFX's 4.51% return. Over the past 10 years, TAFTX has underperformed GFFFX with an annualized return of 1.82%, while GFFFX has yielded a comparatively higher 15.27% annualized return.
TAFTX
- 1D
- -0.24%
- 1M
- -2.07%
- 6M
- -0.35%
- YTD
- 0.20%
- 1Y
- 5.19%
- 3Y*
- 3.46%
- 5Y*
- 0.41%
- 10Y*
- 1.82%
- ALL TIME*
- 4.87%
GFFFX
- 1D
- 1.91%
- 1M
- -3.24%
- 6M
- 3.86%
- YTD
- 4.51%
- 1Y
- 13.10%
- 3Y*
- 19.90%
- 5Y*
- 10.33%
- 10Y*
- 15.27%
- ALL TIME*
- 14.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TAFTX vs. GFFFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TAFTX American Funds Tax-Exempt Fund of California | 0.20% | 4.73% | 2.31% | 5.76% | -9.78% | 1.88% | 4.43% | 7.33% | 0.71% | 5.96% |
GFFFX American Funds The Growth Fund of America Class F-2 | 4.51% | 19.96% | 28.28% | 37.51% | -30.61% | 19.55% | 38.16% | 28.43% | -2.96% | 26.38% |
Correlation
The correlation between TAFTX and GFFFX is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009 | -0.08 |
The correlation between TAFTX and GFFFX shifts across timeframes, from -0.08 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TAFTX vs. GFFFX — Risk / Return Rank
TAFTX
GFFFX
TAFTX vs. GFFFX - 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 The Growth Fund of America Class F-2 (GFFFX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TAFTX | GFFFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.13 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 0.82 | +1.18 |
| Martin ratioReturn relative to average drawdown | 6.68 | 2.96 | +3.72 |
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Drawdowns
TAFTX vs. GFFFX - Drawdown Comparison
The maximum TAFTX drawdown since its inception was -18.83%, smaller than the maximum GFFFX drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for TAFTX and GFFFX.
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Drawdown Indicators
| TAFTX | GFFFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.83% | -36.26% | +17.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -13.74% | +10.69% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | -21.55% | +16.21% |
Max Drawdown (5Y)Largest decline over 5 years | -14.82% | -36.26% | +21.44% |
Max Drawdown (10Y)Largest decline over 10 years | -14.82% | -36.26% | +21.44% |
Current DrawdownCurrent decline from peak | -2.07% | -5.45% | +3.38% |
Average DrawdownAverage peak-to-trough decline | -1.93% | -5.55% | +3.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 3.78% | -2.87% |
Volatility
TAFTX vs. GFFFX - Volatility Comparison
The current volatility for American Funds Tax-Exempt Fund of California (TAFTX) is 0.94%, while American Funds The Growth Fund of America Class F-2 (GFFFX) has a volatility of 4.82%. This indicates that TAFTX experiences smaller price fluctuations and is considered to be less risky than GFFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAFTX | GFFFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 4.82% | -3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 13.65% | -11.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.89% | 16.91% | -14.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.07% | 20.53% | -16.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 19.76% | -15.83% |
TAFTX vs. GFFFX - Expense Ratio Comparison
TAFTX has a 0.57% expense ratio, which is higher than GFFFX's 0.40% expense ratio.
Dividends
TAFTX vs. GFFFX - Dividend Comparison
TAFTX's dividend yield for the trailing twelve months is around 2.83%, less than GFFFX's 10.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GFFFX American Funds The Growth Fund of America Class F-2 | 10.48% | 10.95% | 9.23% | 7.64% | 4.32% | 8.42% | 4.51% | 7.38% | 12.29% | 7.27% | 6.87% | 9.13% |
TAFTX American Funds Tax-Exempt Fund of California | 2.83% | 3.96% | 2.64% | 2.19% | 1.82% | 2.19% | 2.65% | 3.15% | 2.93% | 2.95% | 3.13% | 3.32% |
Frequently Asked Questions
TAFTX and GFFFX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GFFFX has higher volatility (4.82%) compared to TAFTX (0.94%). In terms of maximum drawdown, TAFTX dropped -18.83% vs GFFFX's -36.26%.
TAFTX currently has the higher Sharpe Ratio (2.11 vs 0.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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