VCADX vs. VCLAX
Compare and contrast key facts about Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX).
VCADX is managed by Vanguard. It was launched on Nov 12, 2001. VCLAX is managed by Vanguard. It was launched on Nov 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCADX or VCLAX.
Performance
VCADX vs. VCLAX - Performance Comparison
Returns By Period
In the year-to-date period, VCADX achieves a 1.86% return, which is significantly lower than VCLAX's 2.41% return. Over the past 10 years, VCADX has underperformed VCLAX with an annualized return of 2.32%, while VCLAX has yielded a comparatively higher 2.73% annualized return.
VCADX
1.86%
-0.11%
2.89%
5.83%
1.34%
2.32%
VCLAX
2.41%
0.02%
3.34%
7.62%
1.23%
2.73%
Key characteristics
| VCADX | VCLAX | |
|---|---|---|
| Sharpe Ratio | 2.12 | 2.03 |
| Sortino Ratio | 3.26 | 3.04 |
| Omega Ratio | 1.50 | 1.46 |
| Calmar Ratio | 1.15 | 0.92 |
| Martin Ratio | 7.71 | 8.16 |
| Ulcer Index | 0.78% | 0.97% |
| Daily Std Dev | 2.85% | 3.89% |
| Max Drawdown | -11.16% | -16.25% |
| Current Drawdown | -1.06% | -1.61% |
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VCADX vs. VCLAX - Expense Ratio Comparison
Both VCADX and VCLAX have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Correlation
The correlation between VCADX and VCLAX is 0.91, 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.
Risk-Adjusted Performance
VCADX vs. VCLAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX). 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
VCADX vs. VCLAX - Dividend Comparison
VCADX's dividend yield for the trailing twelve months is around 2.81%, less than VCLAX's 3.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCADX Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares | 2.81% | 2.57% | 2.36% | 2.10% | 2.27% | 2.52% | 2.71% | 2.68% | 2.78% | 2.87% | 3.08% | 3.40% |
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 3.34% | 3.07% | 2.74% | 2.40% | 2.64% | 3.01% | 3.39% | 3.34% | 3.56% | 3.58% | 3.71% | 4.07% |
Drawdowns
VCADX vs. VCLAX - Drawdown Comparison
The maximum VCADX drawdown since its inception was -11.16%, smaller than the maximum VCLAX drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for VCADX and VCLAX. For additional features, visit the drawdowns tool.
Volatility
VCADX vs. VCLAX - Volatility Comparison
The current volatility for Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) is 1.31%, while Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) has a volatility of 1.91%. This indicates that VCADX experiences smaller price fluctuations and is considered to be less risky than VCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.