VCAIX vs. VCITX
Compare and contrast key facts about Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX).
VCAIX is managed by Vanguard. It was launched on Mar 4, 1994. VCITX is managed by Vanguard. It was launched on Apr 7, 1986.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCAIX or VCITX.
Performance
VCAIX vs. VCITX - Performance Comparison
Returns By Period
In the year-to-date period, VCAIX achieves a 1.71% return, which is significantly lower than VCITX's 2.25% return. Over the past 10 years, VCAIX has underperformed VCITX with an annualized return of 2.22%, while VCITX has yielded a comparatively higher 2.64% annualized return.
VCAIX
1.71%
0.15%
3.03%
5.46%
1.24%
2.22%
VCITX
2.25%
0.37%
3.57%
7.13%
1.13%
2.64%
Key characteristics
| VCAIX | VCITX | |
|---|---|---|
| Sharpe Ratio | 1.99 | 1.91 |
| Sortino Ratio | 3.06 | 2.86 |
| Omega Ratio | 1.47 | 1.43 |
| Calmar Ratio | 1.08 | 0.88 |
| Martin Ratio | 7.17 | 7.59 |
| Ulcer Index | 0.79% | 0.98% |
| Daily Std Dev | 2.84% | 3.88% |
| Max Drawdown | -11.25% | -19.44% |
| Current Drawdown | -1.15% | -1.96% |
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VCAIX vs. VCITX - Expense Ratio Comparison
Both VCAIX and VCITX have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Correlation
The correlation between VCAIX and VCITX is 0.90, 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
VCAIX vs. VCITX - 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 California Long-Term Tax-Exempt Fund Investor Shares (VCITX). 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. VCITX - Dividend Comparison
VCAIX's dividend yield for the trailing twelve months is around 2.73%, less than VCITX's 3.25% 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% |
VCITX Vanguard California Long-Term Tax-Exempt Fund Investor Shares | 3.25% | 2.99% | 2.66% | 2.34% | 2.56% | 2.93% | 3.32% | 3.22% | 3.45% | 3.53% | 3.64% | 4.00% |
Drawdowns
VCAIX vs. VCITX - Drawdown Comparison
The maximum VCAIX drawdown since its inception was -11.25%, smaller than the maximum VCITX drawdown of -19.44%. Use the drawdown chart below to compare losses from any high point for VCAIX and VCITX. For additional features, visit the drawdowns tool.
Volatility
VCAIX vs. VCITX - Volatility Comparison
The current volatility for Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) is 1.19%, while Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) has a volatility of 1.71%. This indicates that VCAIX experiences smaller price fluctuations and is considered to be less risky than VCITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.