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

Correlation

The correlation between VCADX and VWALX 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.


-0.50.00.51.00.9

Performance

VCADX vs. VWALX - 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 High-Yield Tax-Exempt Fund Admiral Shares (VWALX). The values are adjusted to include any dividend payments, if applicable.

100.00%110.00%120.00%130.00%140.00%150.00%JulyAugustSeptemberOctoberNovemberDecember
104.16%
139.58%
VCADX
VWALX

Key characteristics

Sharpe Ratio

VCADX:

0.56

VWALX:

0.82

Sortino Ratio

VCADX:

0.80

VWALX:

1.13

Omega Ratio

VCADX:

1.12

VWALX:

1.17

Calmar Ratio

VCADX:

0.49

VWALX:

0.52

Martin Ratio

VCADX:

1.88

VWALX:

3.48

Ulcer Index

VCADX:

0.83%

VWALX:

0.95%

Daily Std Dev

VCADX:

2.77%

VWALX:

4.02%

Max Drawdown

VCADX:

-11.16%

VWALX:

-17.74%

Current Drawdown

VCADX:

-1.84%

VWALX:

-2.66%

Returns By Period

In the year-to-date period, VCADX achieves a 1.06% return, which is significantly lower than VWALX's 2.68% return. Over the past 10 years, VCADX has underperformed VWALX with an annualized return of 2.20%, while VWALX has yielded a comparatively higher 3.05% annualized return.


VCADX

YTD

1.06%

1M

-0.70%

6M

1.11%

1Y

1.47%

5Y*

1.10%

10Y*

2.20%

VWALX

YTD

2.68%

1M

-0.99%

6M

1.06%

1Y

3.20%

5Y*

1.43%

10Y*

3.05%

Compare stocks, funds, or ETFs

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


VCADX vs. VWALX - Expense Ratio Comparison

Both VCADX and VWALX 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%.


VCADX
Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares
Expense ratio chart for VCADX: current value at 0.09% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.09%
Expense ratio chart for VWALX: current value at 0.09% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.09%

Risk-Adjusted Performance

VCADX vs. VWALX - 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 Admiral Shares (VWALX). 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.


Sharpe ratio
The chart of Sharpe ratio for VCADX, currently valued at 0.56, compared to the broader market-1.000.001.002.003.004.000.560.82
The chart of Sortino ratio for VCADX, currently valued at 0.80, compared to the broader market-2.000.002.004.006.008.0010.000.801.13
The chart of Omega ratio for VCADX, currently valued at 1.12, compared to the broader market0.501.001.502.002.503.003.501.121.17
The chart of Calmar ratio for VCADX, currently valued at 0.49, compared to the broader market0.002.004.006.008.0010.0012.0014.000.490.52
The chart of Martin ratio for VCADX, currently valued at 1.88, compared to the broader market0.0020.0040.0060.001.883.48
VCADX
VWALX

The current VCADX Sharpe Ratio is 0.56, which is lower than the VWALX Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of VCADX and VWALX, 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 Ratio0.501.001.502.002.503.003.504.00JulyAugustSeptemberOctoberNovemberDecember
0.56
0.82
VCADX
VWALX

Dividends

VCADX vs. VWALX - Dividend Comparison

VCADX's dividend yield for the trailing twelve months is around 2.60%, less than VWALX's 3.83% yield.


TTM20232022202120202019201820172016201520142013
VCADX
Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares
2.60%2.57%2.36%2.10%2.27%2.52%2.71%2.68%2.78%2.87%3.08%3.40%
VWALX
Vanguard High-Yield Tax-Exempt Fund Admiral Shares
3.83%3.59%3.44%2.93%3.16%3.44%3.84%3.77%3.88%3.75%3.83%4.19%

Drawdowns

VCADX vs. VWALX - Drawdown Comparison

The maximum VCADX drawdown since its inception was -11.16%, smaller than the maximum VWALX drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for VCADX and VWALX. For additional features, visit the drawdowns tool.


-4.00%-3.00%-2.00%-1.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-1.84%
-2.66%
VCADX
VWALX

Volatility

VCADX vs. VWALX - Volatility Comparison

The current volatility for Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) is 0.96%, while Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) has a volatility of 1.56%. This indicates that VCADX experiences smaller price fluctuations and is considered to be less risky than VWALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%JulyAugustSeptemberOctoberNovemberDecember
0.96%
1.56%
VCADX
VWALX
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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