VCADX vs. VWAHX
Compare and contrast key facts about Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
VCADX is managed by Vanguard. It was launched on Nov 12, 2001. VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCADX or VWAHX.
Performance
VCADX vs. VWAHX - Performance Comparison
Returns By Period
In the year-to-date period, VCADX achieves a 1.86% return, which is significantly lower than VWAHX's 3.73% return. Over the past 10 years, VCADX has underperformed VWAHX with an annualized return of 2.32%, while VWAHX has yielded a comparatively higher 3.16% annualized return.
VCADX
1.86%
-0.11%
2.89%
5.83%
1.34%
2.32%
VWAHX
3.73%
0.04%
3.51%
9.50%
1.59%
3.16%
Key characteristics
| VCADX | VWAHX | |
|---|---|---|
| Sharpe Ratio | 2.12 | 2.37 |
| Sortino Ratio | 3.26 | 3.55 |
| Omega Ratio | 1.50 | 1.57 |
| Calmar Ratio | 1.15 | 0.96 |
| Martin Ratio | 7.71 | 11.04 |
| Ulcer Index | 0.78% | 0.88% |
| Daily Std Dev | 2.85% | 4.09% |
| Max Drawdown | -11.16% | -17.82% |
| Current Drawdown | -1.06% | -1.59% |
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VCADX vs. VWAHX - Expense Ratio Comparison
VCADX has a 0.09% expense ratio, which is lower than VWAHX's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Correlation
The correlation between VCADX and VWAHX is 0.88, 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. VWAHX - 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 High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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. VWAHX - Dividend Comparison
VCADX's dividend yield for the trailing twelve months is around 2.81%, less than VWAHX's 3.70% 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% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 3.70% | 3.53% | 3.37% | 2.86% | 3.09% | 3.36% | 3.79% | 3.69% | 3.75% | 3.69% | 3.78% | 4.12% |
Drawdowns
VCADX vs. VWAHX - Drawdown Comparison
The maximum VCADX drawdown since its inception was -11.16%, smaller than the maximum VWAHX drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for VCADX and VWAHX. For additional features, visit the drawdowns tool.
Volatility
VCADX vs. VWAHX - Volatility Comparison
The current volatility for Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) is 1.31%, while Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a volatility of 1.96%. This indicates that VCADX experiences smaller price fluctuations and is considered to be less risky than VWAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.