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VCADX vs. VCLAX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between VCADX and VCLAX is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


-0.50.00.51.0
Correlation: -0.1

Performance

VCADX vs. VCLAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX). The values are adjusted to include any dividend payments, if applicable.

100.00%110.00%120.00%130.00%NovemberDecember2025FebruaryMarchApril
102.71%
123.46%
VCADX
VCLAX

Key characteristics

Sharpe Ratio

VCADX:

0.33

VCLAX:

0.11

Sortino Ratio

VCADX:

0.46

VCLAX:

0.18

Omega Ratio

VCADX:

1.08

VCLAX:

1.03

Calmar Ratio

VCADX:

0.34

VCLAX:

0.10

Martin Ratio

VCADX:

1.26

VCLAX:

0.39

Ulcer Index

VCADX:

1.12%

VCLAX:

1.68%

Daily Std Dev

VCADX:

4.26%

VCLAX:

5.91%

Max Drawdown

VCADX:

-11.16%

VCLAX:

-16.25%

Current Drawdown

VCADX:

-2.72%

VCLAX:

-4.52%

Returns By Period

In the year-to-date period, VCADX achieves a -1.37% return, which is significantly higher than VCLAX's -2.75% return. Over the past 10 years, VCADX has underperformed VCLAX with an annualized return of 2.01%, while VCLAX has yielded a comparatively higher 2.21% annualized return.


VCADX

YTD

-1.37%

1M

-1.43%

6M

-0.73%

1Y

1.42%

5Y*

1.12%

10Y*

2.01%

VCLAX

YTD

-2.75%

1M

-2.19%

6M

-1.92%

1Y

0.75%

5Y*

0.77%

10Y*

2.21%

*Annualized

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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%.


Expense ratio chart for VCADX: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VCADX: 0.09%
Expense ratio chart for VCLAX: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VCLAX: 0.09%

Risk-Adjusted Performance

VCADX vs. VCLAX — Risk-Adjusted Performance Rank

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

VCADX
The Risk-Adjusted Performance Rank of VCADX is 4646
Overall Rank
The Sharpe Ratio Rank of VCADX is 4646
Sharpe Ratio Rank
The Sortino Ratio Rank of VCADX is 4141
Sortino Ratio Rank
The Omega Ratio Rank of VCADX is 4545
Omega Ratio Rank
The Calmar Ratio Rank of VCADX is 5353
Calmar Ratio Rank
The Martin Ratio Rank of VCADX is 4848
Martin Ratio Rank

VCLAX
The Risk-Adjusted Performance Rank of VCLAX is 3131
Overall Rank
The Sharpe Ratio Rank of VCLAX is 3232
Sharpe Ratio Rank
The Sortino Ratio Rank of VCLAX is 2828
Sortino Ratio Rank
The Omega Ratio Rank of VCLAX is 3030
Omega Ratio Rank
The Calmar Ratio Rank of VCLAX is 3434
Calmar Ratio Rank
The Martin Ratio Rank of VCLAX is 3232
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.


The chart of Sharpe ratio for VCADX, currently valued at 0.33, compared to the broader market-1.000.001.002.003.00
VCADX: 0.33
VCLAX: 0.11
The chart of Sortino ratio for VCADX, currently valued at 0.46, compared to the broader market-2.000.002.004.006.008.00
VCADX: 0.46
VCLAX: 0.18
The chart of Omega ratio for VCADX, currently valued at 1.08, compared to the broader market0.501.001.502.002.503.00
VCADX: 1.08
VCLAX: 1.03
The chart of Calmar ratio for VCADX, currently valued at 0.34, compared to the broader market0.002.004.006.008.0010.00
VCADX: 0.34
VCLAX: 0.10
The chart of Martin ratio for VCADX, currently valued at 1.26, compared to the broader market0.0010.0020.0030.0040.0050.00
VCADX: 1.26
VCLAX: 0.39

The current VCADX Sharpe Ratio is 0.33, which is higher than the VCLAX Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of VCADX and VCLAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.00NovemberDecember2025FebruaryMarchApril
0.33
0.11
VCADX
VCLAX

Dividends

VCADX vs. VCLAX - Dividend Comparison

VCADX's dividend yield for the trailing twelve months is around 2.99%, less than VCLAX's 3.55% yield.


TTM20242023202220212020201920182017201620152014
VCADX
Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares
2.99%2.86%2.57%2.36%2.10%2.27%2.52%2.71%2.68%2.78%2.87%3.08%
VCLAX
Vanguard California Long-Term Tax-Exempt Fund Admiral Shares
3.55%3.38%3.07%2.74%2.40%2.64%3.01%3.39%3.34%3.56%3.58%3.71%

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.


-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%NovemberDecember2025FebruaryMarchApril
-2.72%
-4.52%
VCADX
VCLAX

Volatility

VCADX vs. VCLAX - Volatility Comparison

The current volatility for Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) is 3.27%, while Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) has a volatility of 4.60%. 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.


1.00%2.00%3.00%4.00%5.00%NovemberDecember2025FebruaryMarchApril
3.27%
4.60%
VCADX
VCLAX