Correlation
The correlation between VCITX and VTEB is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
VCITX vs. VTEB
Compare and contrast key facts about Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) and Vanguard Tax-Exempt Bond ETF (VTEB).
VCITX is managed by Vanguard. It was launched on Apr 7, 1986. VTEB is a passively managed fund by Vanguard that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Aug 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCITX or VTEB.
Performance
VCITX vs. VTEB - Performance Comparison
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Key characteristics
VCITX:
0.27
VTEB:
0.32
VCITX:
0.31
VTEB:
0.39
VCITX:
1.05
VTEB:
1.06
VCITX:
0.19
VTEB:
0.28
VCITX:
0.60
VTEB:
0.80
VCITX:
2.04%
VTEB:
1.66%
VCITX:
5.93%
VTEB:
4.76%
VCITX:
-19.43%
VTEB:
-17.00%
VCITX:
-4.13%
VTEB:
-3.16%
Returns By Period
In the year-to-date period, VCITX achieves a -2.39% return, which is significantly lower than VTEB's -1.59% return.
VCITX
-2.39%
-0.81%
-3.71%
1.58%
1.84%
0.42%
2.38%
VTEB
-1.59%
-0.54%
-2.85%
1.53%
1.51%
0.45%
N/A
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VCITX vs. VTEB - Expense Ratio Comparison
VCITX has a 0.17% expense ratio, which is higher than VTEB's 0.05% 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. VTEB — Risk-Adjusted Performance Rank
VCITX
VTEB
VCITX vs. VTEB - 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 Tax-Exempt Bond ETF (VTEB). 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.
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Dividends
VCITX vs. VTEB - Dividend Comparison
VCITX's dividend yield for the trailing twelve months is around 3.48%, more than VTEB's 3.27% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCITX Vanguard California Long-Term Tax-Exempt Fund Investor Shares | 3.48% | 3.30% | 2.99% | 2.66% | 2.97% | 3.21% | 2.93% | 3.32% | 3.22% | 3.45% | 3.53% | 3.64% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.27% | 3.14% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% |
Drawdowns
VCITX vs. VTEB - Drawdown Comparison
The maximum VCITX drawdown since its inception was -19.43%, which is greater than VTEB's maximum drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for VCITX and VTEB.
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Volatility
VCITX vs. VTEB - Volatility Comparison
The current volatility for Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) is 0.86%, while Vanguard Tax-Exempt Bond ETF (VTEB) has a volatility of 1.05%. This indicates that VCITX experiences smaller price fluctuations and is considered to be less risky than VTEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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