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.
Key characteristics
| VCITX | VTEB | |
|---|---|---|
| YTD Return | 2.07% | 1.60% |
| 1Y Return | 9.21% | 7.56% |
| 3Y Return (Ann) | -0.49% | -0.17% |
| 5Y Return (Ann) | 1.21% | 1.30% |
| Sharpe Ratio | 2.34 | 1.80 |
| Sortino Ratio | 3.56 | 2.67 |
| Omega Ratio | 1.55 | 1.36 |
| Calmar Ratio | 0.90 | 0.88 |
| Martin Ratio | 9.91 | 7.97 |
| Ulcer Index | 0.94% | 0.90% |
| Daily Std Dev | 3.97% | 3.98% |
| Max Drawdown | -19.44% | -17.00% |
| Current Drawdown | -2.13% | -1.20% |
Correlation
The correlation between VCITX and VTEB is 0.68, 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. VTEB - Performance Comparison
In the year-to-date period, VCITX achieves a 2.07% return, which is significantly higher than VTEB's 1.60% 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. 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 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.
Dividends
VCITX vs. VTEB - Dividend Comparison
VCITX's dividend yield for the trailing twelve months is around 3.25%, more than VTEB's 3.09% 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% |
VTEB Vanguard Tax-Exempt Bond ETF | 3.09% | 2.79% | 2.09% | 1.65% | 1.99% | 2.30% | 2.25% | 1.96% | 1.66% | 0.58% | 0.00% | 0.00% |
Drawdowns
VCITX vs. VTEB - Drawdown Comparison
The maximum VCITX drawdown since its inception was -19.44%, 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. For additional features, visit the drawdowns tool.
Volatility
VCITX vs. VTEB - Volatility Comparison
Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) and Vanguard Tax-Exempt Bond ETF (VTEB) have volatilities of 1.96% and 1.96%, 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.