VCITX vs. CMF

In the year-to-date period, VCITX achieves a -2.30% return, which is significantly lower than CMF's -1.83% return. Over the past 10 years, VCITX has outperformed CMF with an annualized return of 2.36%, while CMF has yielded a comparatively lower 1.74% annualized return.

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VCITX has a 0.17% expense ratio, which is lower than CMF's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

This table presents a comparison of risk-adjusted performance metrics for Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) and iShares California Muni Bond ETF (CMF). 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 0.28, which is comparable to the CMF Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of VCITX and CMF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

VCITX's dividend yield for the trailing twelve months is around 3.47%, more than CMF's 2.94% yield.

The maximum VCITX drawdown since its inception was -19.43%, which is greater than CMF's maximum drawdown of -16.45%. Use the drawdown chart below to compare losses from any high point for VCITX and CMF.

The current volatility for Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) is 1.11%, while iShares California Muni Bond ETF (CMF) has a volatility of 1.27%. This indicates that VCITX experiences smaller price fluctuations and is considered to be less risky than CMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.