TSCM vs. CA

Last updated Jun 3, 2026

TSCM (TimesSquare Quality Mid Cap Growth ETF) and CA (Xtrackers California Municipal Bond ETF) are both exchange-traded funds - TSCM is a Mid Cap Growth Equities fund actively managed by TimesSquare Capital Management, while CA is a Municipal Bonds fund tracking the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. TSCM is actively managed, while CA is passively managed. At a 0.27 correlation, their price movements are largely independent. TSCM charges 0.55%/yr vs 0.07%/yr for CA.

Performance

TSCM vs. CA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TimesSquare Quality Mid Cap Growth ETF (TSCM) and Xtrackers California Municipal Bond ETF (CA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSCM achieves a 4.27% return, which is significantly higher than CA's 1.20% return.

TSCM

• 1D: 0.30%
• 1M: 6.72%
• YTD: 4.27%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CA

• 1D: 0.00%
• 1M: 0.38%
• YTD: 1.20%
• 6M: 1.44%
• 1Y: 6.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TSCM vs. CA - Yearly Performance Comparison

	2026 (YTD)	2025
TSCM TimesSquare Quality Mid Cap Growth ETF	4.27%	-0.86%
CA Xtrackers California Municipal Bond ETF	1.20%	0.02%

Correlation

The correlation between TSCM and CA is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 31, 2025	0.27

Return for Risk

TSCM vs. CA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CA

CA Risk / Return Rank: 73
CA Sharpe Ratio Rank: 78
CA Sortino Ratio Rank: 85
CA Omega Ratio Rank: 90
CA Calmar Ratio Rank: 53
CA Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TSCM vs. CA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TimesSquare Quality Mid Cap Growth ETF (TSCM) and Xtrackers California Municipal Bond ETF (CA). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TSCM	CA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.67	-0.28

Drawdowns

TSCM vs. CA - Drawdown Comparison

The maximum TSCM drawdown since its inception was -14.87%, which is greater than CA's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for TSCM and CA.

Drawdown Indicators

	TSCM	CA	Difference
Max Drawdown Largest peak-to-trough decline	-14.87%	-5.24%	-9.63%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.57%	—
Current Drawdown Current decline from peak	0.00%	-0.75%	+0.75%
Average Drawdown Average peak-to-trough decline	-6.38%	-1.27%	-5.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.68%	—

Volatility

Volatility by Period

	TSCM	CA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.08%	2.64%	+18.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.08%	3.99%	+17.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.08%	3.99%	+17.09%

TSCM vs. CA - Expense Ratio Comparison

TSCM has a 0.55% expense ratio, which is higher than CA's 0.07% expense ratio.

Dividends

TSCM vs. CA - Dividend Comparison

TSCM has not paid dividends to shareholders, while CA's dividend yield for the trailing twelve months is around 2.96%.

Position	TTM	2025	2024
CA Xtrackers California Municipal Bond ETF	2.96%	3.14%	3.03%
TSCM TimesSquare Quality Mid Cap Growth ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSCM and CA in my portfolio?

TSCM and CA have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSCM or CA?

On fees, CA is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSCM or CA?

CA is cheaper with a 0.07% expense ratio, compared with 0.55% for TSCM.

Which ETF pays a higher dividend yield, TSCM or CA?

CA has the higher dividend yield at 2.96%, compared with 0.00% for TSCM.

What is the main difference between TSCM and CA?

TSCM is categorized as Mid Cap Growth Equities, while CA is Municipal Bonds. They also come from different issuers: TimesSquare Capital Management and Xtrackers. Their fees differ too: 0.55% for TSCM and 0.07% for CA.