VCAIX vs. BND
Compare and contrast key facts about Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) and Vanguard Total Bond Market ETF (BND).
VCAIX is managed by Vanguard. It was launched on Mar 4, 1994. BND is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. Aggregate Bond Index. It was launched on Apr 3, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCAIX or BND.
Performance
VCAIX vs. BND - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with VCAIX having a 1.71% return and BND slightly lower at 1.66%. Over the past 10 years, VCAIX has outperformed BND with an annualized return of 2.22%, while BND has yielded a comparatively lower 1.39% annualized return.
VCAIX
1.71%
0.15%
3.03%
5.46%
1.24%
2.22%
BND
1.66%
-0.79%
3.22%
6.06%
-0.33%
1.39%
Key characteristics
| VCAIX | BND | |
|---|---|---|
| Sharpe Ratio | 1.99 | 1.09 |
| Sortino Ratio | 3.06 | 1.59 |
| Omega Ratio | 1.47 | 1.19 |
| Calmar Ratio | 1.08 | 0.42 |
| Martin Ratio | 7.17 | 3.51 |
| Ulcer Index | 0.79% | 1.75% |
| Daily Std Dev | 2.84% | 5.65% |
| Max Drawdown | -11.25% | -18.84% |
| Current Drawdown | -1.15% | -9.11% |
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VCAIX vs. BND - Expense Ratio Comparison
VCAIX has a 0.17% expense ratio, which is higher than BND'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%.
Correlation
The correlation between VCAIX and BND is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
VCAIX vs. BND - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) and Vanguard Total Bond Market ETF (BND). 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
VCAIX vs. BND - Dividend Comparison
VCAIX's dividend yield for the trailing twelve months is around 2.73%, less than BND's 3.57% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCAIX Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares | 2.73% | 2.50% | 2.28% | 2.02% | 2.18% | 2.46% | 2.63% | 2.59% | 2.65% | 2.78% | 3.00% | 3.30% |
BND Vanguard Total Bond Market ETF | 3.57% | 3.09% | 2.60% | 1.97% | 2.22% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% | 2.79% | 2.78% |
Drawdowns
VCAIX vs. BND - Drawdown Comparison
The maximum VCAIX drawdown since its inception was -11.25%, smaller than the maximum BND drawdown of -18.84%. Use the drawdown chart below to compare losses from any high point for VCAIX and BND. For additional features, visit the drawdowns tool.
Volatility
VCAIX vs. BND - Volatility Comparison
The current volatility for Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) is 1.19%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.52%. This indicates that VCAIX experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.