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VCADX vs. VIGAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VCADX vs. VIGAX

Last updated Jun 4, 2026

VCADX (Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares) and VIGAX (Vanguard Growth Index Fund Admiral Shares) are both mutual funds - VCADX is a Municipal Bonds fund managed by Vanguard, while VIGAX is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Over the past 10 years, VCADX returned 2.35%/yr vs 18.39%/yr for VIGAX. At a correlation of -0.08, they often move in opposite directions. VCADX charges 0.09%/yr vs 0.05%/yr for VIGAX.

Performance

VCADX vs. VIGAX - 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 Growth Index Fund Admiral Shares (VIGAX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VCADX achieves a 1.16% return, which is significantly lower than VIGAX's 10.82% return. Over the past 10 years, VCADX has underperformed VIGAX with an annualized return of 2.35%, while VIGAX has yielded a comparatively higher 18.39% annualized return.

VCADX

1D
0.09%
1M
0.62%
YTD
1.16%
6M
1.51%
1Y
6.82%
3Y*
4.48%
5Y*
1.70%
10Y*
2.35%

VIGAX

1D
-0.28%
1M
7.54%
YTD
10.82%
6M
10.11%
1Y
29.44%
3Y*
26.45%
5Y*
15.71%
10Y*
18.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VCADX vs. VIGAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VCADX
Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares		1.16%5.90%2.24%5.91%-6.61%0.46%4.62%7.04%1.28%4.94%
VIGAX
Vanguard Growth Index Fund Admiral Shares		10.82%19.43%32.67%46.76%-33.14%27.26%40.18%37.23%-3.35%27.80%

Correlation

The correlation between VCADX and VIGAX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.11

Correlation (3Y)
Calculated over the trailing 3-year period

0.09

Correlation (5Y)
Calculated over the trailing 5-year period

0.10

Correlation (10Y)
Calculated over the trailing 10-year period

0.04

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2001

-0.08

The correlation between VCADX and VIGAX shifts across timeframes, from -0.08 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.

VCADX vs. VIGAX - Sectors Allocation Comparison

Sectors
VCADX
VIGAX

Financial Services

0.1%
4.3%

Basic Materials

-

0.6%

Communication Services

-

17.3%

Consumer Cyclical

-

12.2%

Consumer Defensive

-

1.5%

Energy

-

0.4%

Healthcare

-

4.6%

Industrials

-

3.6%

Real Estate

-

1.0%

Technology

-

53.5%

Utilities

-

0.9%

Financial Services

VCADX
0.1%
VIGAX
4.3%

Basic Materials

VCADX

-

VIGAX
0.6%

Communication Services

VCADX

-

VIGAX
17.3%

Consumer Cyclical

VCADX

-

VIGAX
12.2%

Consumer Defensive

VCADX

-

VIGAX
1.5%

Energy

VCADX

-

VIGAX
0.4%

Healthcare

VCADX

-

VIGAX
4.6%

Industrials

VCADX

-

VIGAX
3.6%

Real Estate

VCADX

-

VIGAX
1.0%

Technology

VCADX

-

VIGAX
53.5%

Utilities

VCADX

-

VIGAX
0.9%

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Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares

Vanguard Growth Index Fund Admiral Shares

Often compared with VCADX:
VCADX vs. CMFVCADX vs. VCLAXVCADX vs. VCAIXVCADX vs. VTEBVCADX vs. BNDVCADX vs. DFCAVCADX vs. VWALX
Often compared with VIGAX:
VIGAX vs. VUGVIGAX vs. INDEXVIGAX vs. VVIAXVIGAX vs. VWUAXVIGAX vs. SCHGVIGAX vs. FLCNXVIGAX vs. FSELX

Return for Risk

VCADX vs. VIGAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VCADX
VCADX Risk / Return Rank: 7070
Overall Rank
VCADX Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
VCADX Sortino Ratio Rank: 9393
Sortino Ratio Rank
VCADX Omega Ratio Rank: 9696
Omega Ratio Rank
VCADX Calmar Ratio Rank: 3737
Calmar Ratio Rank
VCADX Martin Ratio Rank: 3333
Martin Ratio Rank
VIGAX
VIGAX Risk / Return Rank: 3434
Overall Rank
VIGAX Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
VIGAX Sortino Ratio Rank: 3838
Sortino Ratio Rank
VIGAX Omega Ratio Rank: 3939
Omega Ratio Rank
VIGAX Calmar Ratio Rank: 2424
Calmar Ratio Rank
VIGAX Martin Ratio Rank: 2727
Martin Ratio Rank
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.

VCADX vs. VIGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) and Vanguard Growth Index Fund Admiral Shares (VIGAX). 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.

VCADXVIGAXDifference
Sharpe ratioReturn per unit of total volatility
3.02
1.92

+1.10

Sortino ratioReturn per unit of downside risk
4.67
2.59

+2.08

Omega ratioGain probability vs. loss probability

1.79

1.33

+0.46

Calmar ratioReturn relative to maximum drawdown

2.30

1.84

+0.46

Martin ratioReturn relative to average drawdown

7.53

6.49

+1.05

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCADX vs. VIGAX - Sharpe Ratio Comparison

The current VCADX Sharpe Ratio is 3.02, which is higher than the VIGAX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of VCADX and VIGAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VCADXVIGAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.02

1.92

+1.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

0.71

-0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.86

-0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

1.10

0.48

+0.62

Drawdowns

VCADX vs. VIGAX - Drawdown Comparison

The maximum VCADX drawdown since its inception was -11.13%, smaller than the maximum VIGAX drawdown of -50.66%. Use the drawdown chart below to compare losses from any high point for VCADX and VIGAX.

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Drawdown Indicators

VCADXVIGAXDifference

Max Drawdown

Largest peak-to-trough decline

-11.13%

-50.66%

+39.53%

Max Drawdown (1Y)

Largest decline over 1 year

-2.98%

-16.51%

+13.53%

Max Drawdown (3Y)

Largest decline over 3 years

-4.23%

-23.04%

+18.81%

Max Drawdown (5Y)

Largest decline over 5 years

-11.13%

-35.63%

+24.50%

Max Drawdown (10Y)

Largest decline over 10 years

-11.13%

-35.63%

+24.50%

Current Drawdown

Current decline from peak

-0.99%

-0.28%

-0.71%

Average Drawdown

Average peak-to-trough decline

-1.50%

-11.96%

+10.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.91%

4.68%

-3.77%

Volatility

VCADX vs. VIGAX - Volatility Comparison

The current volatility for Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) is 0.87%, while Vanguard Growth Index Fund Admiral Shares (VIGAX) has a volatility of 3.62%. This indicates that VCADX experiences smaller price fluctuations and is considered to be less risky than VIGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VCADXVIGAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.87%

3.62%

-2.75%

Volatility (6M)

Calculated over the trailing 6-month period

1.80%

12.10%

-10.30%

Volatility (1Y)

Calculated over the trailing 1-year period

2.28%

15.88%

-13.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.25%

22.35%

-19.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.43%

21.59%

-18.16%

VCADX vs. VIGAX - Expense Ratio Comparison

VCADX has a 0.09% expense ratio, which is higher than VIGAX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VCADX vs. VIGAX - Dividend Comparison

VCADX's dividend yield for the trailing twelve months is around 3.14%, more than VIGAX's 0.36% yield.

PositionTTM20252024202320222021202020192018201720162015
VCADX
Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares		3.14%3.82%3.35%2.57%2.36%1.77%2.28%2.72%2.71%2.66%2.76%2.86%
VIGAX
Vanguard Growth Index Fund Admiral Shares		0.36%0.40%0.46%0.57%0.69%0.47%0.66%0.94%1.31%1.14%1.39%1.31%

Frequently Asked Questions

VCADX and VIGAX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VIGAX has higher volatility (3.62%) compared to VCADX (0.87%). In terms of maximum drawdown, VCADX dropped -11.13% vs VIGAX's -50.66%.

VCADX currently has the higher Sharpe Ratio (3.02 vs 1.92), 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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