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

Correlation

The correlation between VCITX 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.


Performance

VCITX vs. BND - Performance Comparison

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

65.00%70.00%75.00%80.00%85.00%December2025FebruaryMarchAprilMay
79.89%
68.66%
VCITX
BND

Key characteristics

Sharpe Ratio

VCITX:

0.09

BND:

1.00

Sortino Ratio

VCITX:

0.15

BND:

1.45

Omega Ratio

VCITX:

1.02

BND:

1.17

Calmar Ratio

VCITX:

0.07

BND:

0.42

Martin Ratio

VCITX:

0.27

BND:

2.54

Ulcer Index

VCITX:

1.86%

BND:

2.07%

Daily Std Dev

VCITX:

5.89%

BND:

5.30%

Max Drawdown

VCITX:

-19.43%

BND:

-18.84%

Current Drawdown

VCITX:

-3.85%

BND:

-7.35%

Returns By Period

In the year-to-date period, VCITX achieves a -1.80% return, which is significantly lower than BND's 2.21% return. Over the past 10 years, VCITX has outperformed BND with an annualized return of 2.34%, while BND has yielded a comparatively lower 1.51% annualized return.


VCITX

YTD

-1.80%

1M

3.05%

6M

-1.76%

1Y

0.50%

5Y*

0.72%

10Y*

2.34%

BND

YTD

2.21%

1M

0.17%

6M

1.19%

1Y

5.24%

5Y*

-0.84%

10Y*

1.51%

*Annualized

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VCITX vs. BND - Expense Ratio Comparison

VCITX 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%.


Risk-Adjusted Performance

VCITX vs. BND — Risk-Adjusted Performance Rank

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

VCITX
The Risk-Adjusted Performance Rank of VCITX is 2525
Overall Rank
The Sharpe Ratio Rank of VCITX is 2727
Sharpe Ratio Rank
The Sortino Ratio Rank of VCITX is 2222
Sortino Ratio Rank
The Omega Ratio Rank of VCITX is 2323
Omega Ratio Rank
The Calmar Ratio Rank of VCITX is 2828
Calmar Ratio Rank
The Martin Ratio Rank of VCITX is 2727
Martin Ratio Rank

BND
The Risk-Adjusted Performance Rank of BND is 7373
Overall Rank
The Sharpe Ratio Rank of BND is 8282
Sharpe Ratio Rank
The Sortino Ratio Rank of BND is 8282
Sortino Ratio Rank
The Omega Ratio Rank of BND is 7676
Omega Ratio Rank
The Calmar Ratio Rank of BND is 5555
Calmar Ratio Rank
The Martin Ratio Rank of BND is 7070
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.

VCITX vs. BND - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) 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 current VCITX Sharpe Ratio is 0.09, which is lower than the BND Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of VCITX 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 Ratio0.000.501.001.502.00December2025FebruaryMarchAprilMay
0.09
1.00
VCITX
BND

Dividends

VCITX vs. BND - Dividend Comparison

VCITX's dividend yield for the trailing twelve months is around 3.15%, less than BND's 3.75% yield.


TTM20242023202220212020201920182017201620152014
VCITX
Vanguard California Long-Term Tax-Exempt Fund Investor Shares
3.15%3.30%2.99%2.66%2.34%2.56%2.93%3.32%3.22%3.45%3.53%3.64%
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

VCITX vs. BND - Drawdown Comparison

The maximum VCITX drawdown since its inception was -19.43%, roughly equal to the maximum BND drawdown of -18.84%. Use the drawdown chart below to compare losses from any high point for VCITX and BND. For additional features, visit the drawdowns tool.


-10.00%-8.00%-6.00%-4.00%-2.00%0.00%December2025FebruaryMarchAprilMay
-3.85%
-7.35%
VCITX
BND

Volatility

VCITX vs. BND - Volatility Comparison

Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) has a higher volatility of 2.99% compared to Vanguard Total Bond Market ETF (BND) at 1.72%. This indicates that VCITX'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.


1.00%2.00%3.00%4.00%5.00%December2025FebruaryMarchAprilMay
2.99%
1.72%
VCITX
BND