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VCAIX vs. SNXFX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VCAIX vs. SNXFX

Last updated Jun 5, 2026

VCAIX (Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares) and SNXFX (Schwab 1000 Index Fund) are both mutual funds - VCAIX is a Municipal Bonds fund managed by Vanguard, while SNXFX is a Large Cap Blend Equities fund tracking the Schwab 1000 Index. Over the past 10 years, VCAIX returned 2.27%/yr vs 15.20%/yr for SNXFX. At a correlation of -0.02, they often move in opposite directions. VCAIX charges 0.17%/yr vs 0.05%/yr for SNXFX.

Performance

VCAIX vs. SNXFX - 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 Schwab 1000 Index Fund (SNXFX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VCAIX achieves a 1.13% return, which is significantly lower than SNXFX's 11.07% return. Over the past 10 years, VCAIX has underperformed SNXFX with an annualized return of 2.27%, while SNXFX has yielded a comparatively higher 15.20% annualized return.

VCAIX

1D
0.00%
1M
0.52%
YTD
1.13%
6M
1.48%
1Y
6.58%
3Y*
4.41%
5Y*
1.61%
10Y*
2.27%

SNXFX

1D
-0.74%
1M
4.19%
YTD
11.07%
6M
10.76%
1Y
27.67%
3Y*
22.28%
5Y*
13.14%
10Y*
15.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VCAIX vs. SNXFX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VCAIX
Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares		1.13%5.83%2.15%5.82%-6.69%0.40%4.53%6.95%1.19%4.83%
SNXFX
Schwab 1000 Index Fund		11.07%17.23%24.46%26.53%-19.46%26.10%20.71%31.43%-5.04%21.71%

Correlation

The correlation between VCAIX and SNXFX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.16

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 Mar 7, 1994

-0.02

The correlation between VCAIX and SNXFX shifts across timeframes, from -0.02 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

VCAIX vs. SNXFX - Sectors Allocation Comparison

Sectors
VCAIX
SNXFX

Financial Services

0.1%
11.9%

Basic Materials

-

2.0%

Communication Services

-

10.6%

Consumer Cyclical

-

10.1%

Consumer Defensive

-

4.7%

Energy

-

3.6%

Healthcare

-

8.7%

Industrials

-

9.4%

Real Estate

-

2.2%

Technology

-

34.6%

Utilities

-

2.3%

Financial Services

VCAIX
0.1%
SNXFX
11.9%

Basic Materials

VCAIX

-

SNXFX
2.0%

Communication Services

VCAIX

-

SNXFX
10.6%

Consumer Cyclical

VCAIX

-

SNXFX
10.1%

Consumer Defensive

VCAIX

-

SNXFX
4.7%

Energy

VCAIX

-

SNXFX
3.6%

Healthcare

VCAIX

-

SNXFX
8.7%

Industrials

VCAIX

-

SNXFX
9.4%

Real Estate

VCAIX

-

SNXFX
2.2%

Technology

VCAIX

-

SNXFX
34.6%

Utilities

VCAIX

-

SNXFX
2.3%

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Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares

Schwab 1000 Index Fund

Often compared with VCAIX:
VCAIX vs. VCADXVCAIX vs. CMFVCAIX vs. VCITXVCAIX vs. VCLAXVCAIX vs. VTEBVCAIX vs. BCHYXVCAIX vs. SWCAX
Often compared with SNXFX:
SNXFX vs. SWPPXSNXFX vs. SWTSXSNXFX vs. VOOSNXFX vs. FSKAXSNXFX vs. SWAGXSNXFX vs. FEMKXSNXFX vs. FLCPX

Return for Risk

VCAIX vs. SNXFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VCAIX
VCAIX Risk / Return Rank: 6969
Overall Rank
VCAIX Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
VCAIX Sortino Ratio Rank: 9292
Sortino Ratio Rank
VCAIX Omega Ratio Rank: 9595
Omega Ratio Rank
VCAIX Calmar Ratio Rank: 3737
Calmar Ratio Rank
VCAIX Martin Ratio Rank: 3333
Martin Ratio Rank
SNXFX
SNXFX Risk / Return Rank: 6262
Overall Rank
SNXFX Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
SNXFX Sortino Ratio Rank: 5555
Sortino Ratio Rank
SNXFX Omega Ratio Rank: 5555
Omega Ratio Rank
SNXFX Calmar Ratio Rank: 6565
Calmar Ratio Rank
SNXFX Martin Ratio Rank: 7676
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.

VCAIX vs. SNXFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) and Schwab 1000 Index Fund (SNXFX). 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.

VCAIXSNXFXDifference
Sharpe ratioReturn per unit of total volatility
3.01
2.29

+0.71

Sortino ratioReturn per unit of downside risk
4.64
3.13

+1.51

Omega ratioGain probability vs. loss probability

1.79

1.41

+0.37

Calmar ratioReturn relative to maximum drawdown

2.28

3.11

-0.83

Martin ratioReturn relative to average drawdown

7.44

14.36

-6.92

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCAIX vs. SNXFX - Sharpe Ratio Comparison

The current VCAIX Sharpe Ratio is 3.01, which is higher than the SNXFX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of VCAIX and SNXFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VCAIXSNXFXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.01

2.29

+0.71

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.76

-0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.67

0.81

-0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

1.31

0.58

+0.73

Drawdowns

VCAIX vs. SNXFX - Drawdown Comparison

The maximum VCAIX drawdown since its inception was -11.22%, smaller than the maximum SNXFX drawdown of -55.08%. Use the drawdown chart below to compare losses from any high point for VCAIX and SNXFX.

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Drawdown Indicators

VCAIXSNXFXDifference

Max Drawdown

Largest peak-to-trough decline

-11.22%

-55.08%

+43.86%

Max Drawdown (1Y)

Largest decline over 1 year

-2.98%

-8.94%

+5.96%

Max Drawdown (3Y)

Largest decline over 3 years

-4.25%

-19.21%

+14.96%

Max Drawdown (5Y)

Largest decline over 5 years

-11.22%

-25.36%

+14.14%

Max Drawdown (10Y)

Largest decline over 10 years

-11.22%

-34.58%

+23.36%

Current Drawdown

Current decline from peak

-1.01%

-0.74%

-0.27%

Average Drawdown

Average peak-to-trough decline

-1.36%

-8.76%

+7.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.91%

1.93%

-1.02%

Volatility

VCAIX vs. SNXFX - Volatility Comparison

The current volatility for Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) is 0.86%, while Schwab 1000 Index Fund (SNXFX) has a volatility of 2.97%. This indicates that VCAIX experiences smaller price fluctuations and is considered to be less risky than SNXFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VCAIXSNXFXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.86%

2.97%

-2.11%

Volatility (6M)

Calculated over the trailing 6-month period

1.78%

9.15%

-7.37%

Volatility (1Y)

Calculated over the trailing 1-year period

2.26%

12.14%

-9.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.24%

17.32%

-14.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.42%

18.73%

-15.31%

VCAIX vs. SNXFX - Expense Ratio Comparison

VCAIX has a 0.17% expense ratio, which is higher than SNXFX's 0.05% 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

VCAIX vs. SNXFX - Dividend Comparison

VCAIX's dividend yield for the trailing twelve months is around 3.09%, more than SNXFX's 1.31% yield.

PositionTTM20252024202320222021202020192018201720162015
SNXFX
Schwab 1000 Index Fund		1.31%1.45%1.23%1.41%1.61%1.74%2.76%3.01%6.49%4.23%3.41%6.31%
VCAIX
Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares		3.09%3.75%3.27%2.49%2.28%1.71%2.19%2.64%2.63%2.56%2.65%2.78%

Frequently Asked Questions

VCAIX and SNXFX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SNXFX has higher volatility (2.97%) compared to VCAIX (0.86%). In terms of maximum drawdown, VCAIX dropped -11.22% vs SNXFX's -55.08%.

VCAIX currently has the higher Sharpe Ratio (3.01 vs 2.29), 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.

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