VCITX vs. BND
Compare and contrast key facts about Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) and Vanguard Total Bond Market ETF (BND).
VCITX is managed by Vanguard. It was launched on Apr 7, 1986. BND is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. Aggregate Bond Index. It was launched on Apr 3, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCITX or BND.
Key characteristics
| VCITX | BND | |
|---|---|---|
| YTD Return | 1.98% | 1.55% |
| 1Y Return | 8.22% | 6.53% |
| 3Y Return (Ann) | -0.49% | -2.38% |
| 5Y Return (Ann) | 1.13% | -0.27% |
| 10Y Return (Ann) | 2.62% | 1.40% |
| Sharpe Ratio | 2.29 | 1.34 |
| Sortino Ratio | 3.48 | 1.98 |
| Omega Ratio | 1.53 | 1.24 |
| Calmar Ratio | 0.95 | 0.51 |
| Martin Ratio | 9.55 | 4.70 |
| Ulcer Index | 0.95% | 1.67% |
| Daily Std Dev | 3.97% | 5.84% |
| Max Drawdown | -19.44% | -18.84% |
| Current Drawdown | -2.21% | -9.21% |
Correlation
The correlation between VCITX and BND 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.
Performance
VCITX vs. BND - Performance Comparison
In the year-to-date period, VCITX achieves a 1.98% return, which is significantly higher than BND's 1.55% return. Over the past 10 years, VCITX has outperformed BND with an annualized return of 2.62%, while BND has yielded a comparatively lower 1.40% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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 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.
Dividends
VCITX vs. BND - Dividend Comparison
VCITX's dividend yield for the trailing twelve months is around 3.25%, less than BND's 3.58% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
BND Vanguard Total Bond Market ETF | 3.58% | 3.09% | 2.60% | 1.97% | 2.22% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% | 2.79% | 2.78% |
Drawdowns
VCITX vs. BND - Drawdown Comparison
The maximum VCITX drawdown since its inception was -19.44%, 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.
Volatility
VCITX vs. BND - Volatility Comparison
Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) has a higher volatility of 1.95% compared to Vanguard Total Bond Market ETF (BND) at 1.70%. 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.