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VCAIX vs. BND
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between VCAIX and BND is -0.12. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


-0.50.00.51.0
Correlation: -0.1

Performance

VCAIX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

65.00%70.00%75.00%December2025FebruaryMarchAprilMay
73.60%
68.96%
VCAIX
BND

Key characteristics

Sharpe Ratio

VCAIX:

0.45

BND:

1.34

Sortino Ratio

VCAIX:

0.61

BND:

1.94

Omega Ratio

VCAIX:

1.10

BND:

1.23

Calmar Ratio

VCAIX:

0.46

BND:

0.55

Martin Ratio

VCAIX:

1.62

BND:

3.45

Ulcer Index

VCAIX:

1.18%

BND:

2.06%

Daily Std Dev

VCAIX:

4.26%

BND:

5.31%

Max Drawdown

VCAIX:

-11.25%

BND:

-18.84%

Current Drawdown

VCAIX:

-2.20%

BND:

-7.18%

Returns By Period

In the year-to-date period, VCAIX achieves a -0.86% return, which is significantly lower than BND's 2.39% return. Over the past 10 years, VCAIX has outperformed BND with an annualized return of 2.04%, while BND has yielded a comparatively lower 1.49% annualized return.


VCAIX

YTD

-0.86%

1M

-1.85%

6M

-0.57%

1Y

1.46%

5Y*

1.11%

10Y*

2.04%

BND

YTD

2.39%

1M

-1.20%

6M

2.14%

1Y

5.76%

5Y*

-0.89%

10Y*

1.49%

*Annualized

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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%.


Expense ratio chart for VCAIX: current value is 0.17%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VCAIX: 0.17%
Expense ratio chart for BND: current value is 0.03%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
BND: 0.03%

Risk-Adjusted Performance

VCAIX vs. BND — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VCAIX
The Risk-Adjusted Performance Rank of VCAIX is 4343
Overall Rank
The Sharpe Ratio Rank of VCAIX is 4141
Sharpe Ratio Rank
The Sortino Ratio Rank of VCAIX is 3737
Sortino Ratio Rank
The Omega Ratio Rank of VCAIX is 4141
Omega Ratio Rank
The Calmar Ratio Rank of VCAIX is 5252
Calmar Ratio Rank
The Martin Ratio Rank of VCAIX is 4545
Martin Ratio Rank

BND
The Risk-Adjusted Performance Rank of BND is 7777
Overall Rank
The Sharpe Ratio Rank of BND is 8686
Sharpe Ratio Rank
The Sortino Ratio Rank of BND is 8787
Sortino Ratio Rank
The Omega Ratio Rank of BND is 8282
Omega Ratio Rank
The Calmar Ratio Rank of BND is 5656
Calmar Ratio Rank
The Martin Ratio Rank of BND is 7373
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.


The chart of Sharpe ratio for VCAIX, currently valued at 0.45, compared to the broader market-2.00-1.000.001.002.003.00
VCAIX: 0.45
BND: 1.34
The chart of Sortino ratio for VCAIX, currently valued at 0.61, compared to the broader market-2.000.002.004.006.008.00
VCAIX: 0.61
BND: 1.94
The chart of Omega ratio for VCAIX, currently valued at 1.10, compared to the broader market0.501.001.502.002.503.00
VCAIX: 1.10
BND: 1.23
The chart of Calmar ratio for VCAIX, currently valued at 0.46, compared to the broader market0.002.004.006.008.0010.00
VCAIX: 0.46
BND: 0.55
The chart of Martin ratio for VCAIX, currently valued at 1.62, compared to the broader market0.0010.0020.0030.0040.00
VCAIX: 1.62
BND: 3.45

The current VCAIX Sharpe Ratio is 0.45, which is lower than the BND Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of VCAIX and BND, 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 Ratio-0.500.000.501.001.502.002.503.00December2025FebruaryMarchAprilMay
0.45
1.34
VCAIX
BND

Dividends

VCAIX vs. BND - Dividend Comparison

VCAIX's dividend yield for the trailing twelve months is around 2.65%, less than BND's 3.75% yield.


TTM20242023202220212020201920182017201620152014
VCAIX
Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares
2.65%2.78%2.50%2.28%2.02%2.18%2.46%2.63%2.59%2.65%2.78%3.00%
BND
Vanguard Total Bond Market ETF
3.75%3.67%3.09%2.60%1.97%2.22%2.72%2.81%2.54%2.51%2.57%2.79%

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.


-10.00%-8.00%-6.00%-4.00%-2.00%0.00%December2025FebruaryMarchAprilMay
-2.20%
-7.18%
VCAIX
BND

Volatility

VCAIX vs. BND - Volatility Comparison

Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) has a higher volatility of 3.19% compared to Vanguard Total Bond Market ETF (BND) at 2.18%. This indicates that VCAIX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%2.50%3.00%December2025FebruaryMarchAprilMay
3.19%
2.18%
VCAIX
BND