VCAIX vs. VGIT
Compare and contrast key facts about Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) and Vanguard Intermediate-Term Treasury ETF (VGIT).
VCAIX is managed by Vanguard. It was launched on Mar 4, 1994. VGIT is a passively managed fund by Vanguard that tracks the performance of the Barclays U.S. 3-10 Year Government Float Adjusted Index. It was launched on Nov 19, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCAIX or VGIT.
Performance
VCAIX vs. VGIT - Performance Comparison
Returns By Period
In the year-to-date period, VCAIX achieves a 1.71% return, which is significantly higher than VGIT's 1.34% return. Over the past 10 years, VCAIX has outperformed VGIT with an annualized return of 2.22%, while VGIT has yielded a comparatively lower 1.11% annualized return.
VCAIX
1.71%
0.15%
3.03%
5.46%
1.24%
2.22%
VGIT
1.34%
-1.01%
2.91%
4.71%
-0.24%
1.11%
Key characteristics
| VCAIX | VGIT | |
|---|---|---|
| Sharpe Ratio | 1.99 | 0.95 |
| Sortino Ratio | 3.06 | 1.39 |
| Omega Ratio | 1.47 | 1.17 |
| Calmar Ratio | 1.08 | 0.36 |
| Martin Ratio | 7.17 | 2.74 |
| Ulcer Index | 0.79% | 1.70% |
| Daily Std Dev | 2.84% | 4.92% |
| Max Drawdown | -11.25% | -16.05% |
| Current Drawdown | -1.15% | -8.69% |
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VCAIX vs. VGIT - Expense Ratio Comparison
VCAIX has a 0.17% expense ratio, which is higher than VGIT's 0.04% 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 VGIT is 0.46, 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. VGIT - 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 Intermediate-Term Treasury ETF (VGIT). 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. VGIT - Dividend Comparison
VCAIX's dividend yield for the trailing twelve months is around 2.73%, less than VGIT'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% |
VGIT Vanguard Intermediate-Term Treasury ETF | 3.57% | 2.72% | 1.74% | 1.69% | 2.23% | 2.24% | 2.05% | 1.67% | 1.69% | 1.69% | 1.54% | 1.63% |
Drawdowns
VCAIX vs. VGIT - Drawdown Comparison
The maximum VCAIX drawdown since its inception was -11.25%, smaller than the maximum VGIT drawdown of -16.05%. Use the drawdown chart below to compare losses from any high point for VCAIX and VGIT. For additional features, visit the drawdowns tool.
Volatility
VCAIX vs. VGIT - Volatility Comparison
Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) and Vanguard Intermediate-Term Treasury ETF (VGIT) have volatilities of 1.19% and 1.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.