PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VCADX vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VCADX vs. VOO

Last updated Jun 4, 2026

VCADX (Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares) and VOO (Vanguard S&P 500 ETF) are both funds - VCADX is a Municipal Bonds fund managed by Vanguard, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, VCADX returned 2.35%/yr vs 15.56%/yr for VOO. At a correlation of -0.08, they often move in opposite directions. VCADX charges 0.09%/yr vs 0.03%/yr for VOO.

Performance

VCADX vs. VOO - 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 S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VCADX achieves a 1.16% return, which is significantly lower than VOO's 10.91% return. Over the past 10 years, VCADX has underperformed VOO with an annualized return of 2.35%, while VOO has yielded a comparatively higher 15.56% 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%

VOO

1D
-0.70%
1M
5.04%
YTD
10.91%
6M
10.93%
1Y
28.04%
3Y*
22.44%
5Y*
13.90%
10Y*
15.56%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VCADX vs. VOO - 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%
VOO
Vanguard S&P 500 ETF		10.91%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between VCADX and VOO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.17

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

0.14

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

0.11

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

0.02

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2010

-0.08

The correlation between VCADX and VOO shifts across timeframes, from -0.08 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

VCADX vs. VOO - Sectors Allocation Comparison

Sectors
VCADX
VOO

Financial Services

0.1%
11.6%

Basic Materials

-

1.8%

Communication Services

-

11.3%

Consumer Cyclical

-

10.2%

Consumer Defensive

-

4.9%

Energy

-

3.5%

Healthcare

-

8.5%

Industrials

-

8.3%

Real Estate

-

1.9%

Technology

-

35.7%

Utilities

-

2.4%

Financial Services

VCADX
0.1%
VOO
11.6%

Basic Materials

VCADX

-

VOO
1.8%

Communication Services

VCADX

-

VOO
11.3%

Consumer Cyclical

VCADX

-

VOO
10.2%

Consumer Defensive

VCADX

-

VOO
4.9%

Energy

VCADX

-

VOO
3.5%

Healthcare

VCADX

-

VOO
8.5%

Industrials

VCADX

-

VOO
8.3%

Real Estate

VCADX

-

VOO
1.9%

Technology

VCADX

-

VOO
35.7%

Utilities

VCADX

-

VOO
2.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares

Vanguard S&P 500 ETF

Often compared with VCADX:
VCADX vs. CMFVCADX vs. VCLAXVCADX vs. VCAIXVCADX vs. VTEBVCADX vs. BNDVCADX vs. DFCAVCADX vs. VWALX
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV

Return for Risk

VCADX vs. VOO — 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
VOO
VOO Risk / Return Rank: 7070
Overall Rank
VOO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 7070
Sortino Ratio Rank
VOO Omega Ratio Rank: 7070
Omega Ratio Rank
VOO Calmar Ratio Rank: 6262
Calmar Ratio Rank
VOO Martin Ratio Rank: 7575
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. VOO - 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 S&P 500 ETF (VOO). 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.

VCADXVOODifference
Sharpe ratioReturn per unit of total volatility
3.02
2.39

+0.63

Sortino ratioReturn per unit of downside risk
4.67
3.25

+1.42

Omega ratioGain probability vs. loss probability

1.79

1.43

+0.36

Calmar ratioReturn relative to maximum drawdown

2.30

3.16

-0.87

Martin ratioReturn relative to average drawdown

7.53

14.73

-7.19

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. VOO - Sharpe Ratio Comparison

The current VCADX Sharpe Ratio is 3.02, which is comparable to the VOO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of VCADX and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

VCADXVOODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.02

2.39

+0.63

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

0.83

-0.31

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.87

-0.18

Sharpe Ratio (All Time)

Calculated using the full available price history

1.10

0.89

+0.21

Drawdowns

VCADX vs. VOO - Drawdown Comparison

The maximum VCADX drawdown since its inception was -11.13%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for VCADX and VOO.

Loading charts...

Drawdown Indicators

VCADXVOODifference

Max Drawdown

Largest peak-to-trough decline

-11.13%

-33.99%

+22.86%

Max Drawdown (1Y)

Largest decline over 1 year

-2.98%

-8.90%

+5.92%

Max Drawdown (3Y)

Largest decline over 3 years

-4.23%

-18.69%

+14.46%

Max Drawdown (5Y)

Largest decline over 5 years

-11.13%

-24.52%

+13.39%

Max Drawdown (10Y)

Largest decline over 10 years

-11.13%

-33.99%

+22.86%

Current Drawdown

Current decline from peak

-0.99%

-0.70%

-0.29%

Average Drawdown

Average peak-to-trough decline

-1.50%

-3.69%

+2.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.91%

1.91%

-1.00%

Volatility

VCADX vs. VOO - Volatility Comparison

The current volatility for Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) is 0.87%, while Vanguard S&P 500 ETF (VOO) has a volatility of 2.84%. This indicates that VCADX experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VCADXVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.87%

2.84%

-1.97%

Volatility (6M)

Calculated over the trailing 6-month period

1.80%

8.90%

-7.10%

Volatility (1Y)

Calculated over the trailing 1-year period

2.28%

11.80%

-9.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.25%

16.81%

-13.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.43%

18.01%

-14.58%

VCADX vs. VOO - Expense Ratio Comparison

VCADX has a 0.09% expense ratio, which is higher than VOO's 0.03% 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. VOO - Dividend Comparison

VCADX's dividend yield for the trailing twelve months is around 3.14%, more than VOO's 1.03% 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%
VOO
Vanguard S&P 500 ETF		1.03%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

VCADX and VOO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VOO has higher volatility (2.84%) compared to VCADX (0.87%). In terms of maximum drawdown, VCADX dropped -11.13% vs VOO's -33.99%.

VCADX currently has the higher Sharpe Ratio (3.02 vs 2.39), 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.

Portfolio Optimizer

Find the right allocation for VCADX and VOO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer