VCITX vs. PRXCX
Compare and contrast key facts about Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) and T. Rowe Price California Tax Free Bond Fund (PRXCX).
VCITX is managed by Vanguard. It was launched on Apr 7, 1986. PRXCX is managed by T. Rowe Price. It was launched on Sep 14, 1986.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCITX or PRXCX.
Key characteristics
| VCITX | PRXCX | |
|---|---|---|
| YTD Return | 2.07% | 2.64% |
| 1Y Return | 9.21% | 9.33% |
| 3Y Return (Ann) | -0.49% | -0.11% |
| 5Y Return (Ann) | 1.21% | 1.46% |
| 10Y Return (Ann) | 2.63% | 2.48% |
| Sharpe Ratio | 2.34 | 2.47 |
| Sortino Ratio | 3.56 | 3.75 |
| Omega Ratio | 1.55 | 1.59 |
| Calmar Ratio | 0.90 | 0.99 |
| Martin Ratio | 9.91 | 12.53 |
| Ulcer Index | 0.94% | 0.75% |
| Daily Std Dev | 3.97% | 3.82% |
| Max Drawdown | -19.44% | -19.48% |
| Current Drawdown | -2.13% | -1.36% |
Correlation
The correlation between VCITX and PRXCX is 0.87, 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.
Performance
VCITX vs. PRXCX - Performance Comparison
In the year-to-date period, VCITX achieves a 2.07% return, which is significantly lower than PRXCX's 2.64% return. Over the past 10 years, VCITX has outperformed PRXCX with an annualized return of 2.63%, while PRXCX has yielded a comparatively lower 2.48% 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. PRXCX - Expense Ratio Comparison
VCITX has a 0.17% expense ratio, which is lower than PRXCX's 0.53% expense ratio.
Risk-Adjusted Performance
VCITX vs. PRXCX - 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 T. Rowe Price California Tax Free Bond Fund (PRXCX). 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. PRXCX - Dividend Comparison
VCITX's dividend yield for the trailing twelve months is around 3.25%, which matches PRXCX's 3.22% 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% |
PRXCX T. Rowe Price California Tax Free Bond Fund | 3.22% | 3.04% | 2.83% | 2.51% | 2.73% | 2.93% | 3.11% | 3.09% | 3.34% | 3.43% | 3.60% | 3.95% |
Drawdowns
VCITX vs. PRXCX - Drawdown Comparison
The maximum VCITX drawdown since its inception was -19.44%, roughly equal to the maximum PRXCX drawdown of -19.48%. Use the drawdown chart below to compare losses from any high point for VCITX and PRXCX. For additional features, visit the drawdowns tool.
Volatility
VCITX vs. PRXCX - Volatility Comparison
Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) and T. Rowe Price California Tax Free Bond Fund (PRXCX) have volatilities of 1.96% and 1.93%, 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.