VCITX vs. VWITX
Compare and contrast key facts about Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) and Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX).
VCITX is managed by Vanguard. It was launched on Apr 7, 1986. VWITX is managed by Vanguard. It was launched on Sep 1, 1977.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCITX or VWITX.
Key characteristics
| VCITX | VWITX | |
|---|---|---|
| YTD Return | 1.98% | 1.63% |
| 1Y Return | 8.22% | 6.21% |
| 3Y Return (Ann) | -0.49% | 0.11% |
| 5Y Return (Ann) | 1.13% | 1.41% |
| 10Y Return (Ann) | 2.62% | 2.26% |
| Sharpe Ratio | 2.29 | 2.36 |
| Sortino Ratio | 3.48 | 3.67 |
| Omega Ratio | 1.53 | 1.55 |
| Calmar Ratio | 0.95 | 1.09 |
| Martin Ratio | 9.55 | 9.19 |
| Ulcer Index | 0.95% | 0.74% |
| Daily Std Dev | 3.97% | 2.87% |
| Max Drawdown | -19.44% | -11.56% |
| Current Drawdown | -2.21% | -1.26% |
Correlation
The correlation between VCITX and VWITX is 0.85, 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. VWITX - Performance Comparison
In the year-to-date period, VCITX achieves a 1.98% return, which is significantly higher than VWITX's 1.63% return. Over the past 10 years, VCITX has outperformed VWITX with an annualized return of 2.62%, while VWITX has yielded a comparatively lower 2.26% 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. VWITX - Expense Ratio Comparison
Both VCITX and VWITX have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
VCITX vs. VWITX - 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 Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX). 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. VWITX - Dividend Comparison
VCITX's dividend yield for the trailing twelve months is around 3.25%, more than VWITX's 2.96% 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% |
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 2.96% | 2.71% | 2.43% | 2.08% | 2.32% | 2.61% | 2.81% | 2.73% | 2.81% | 2.89% | 3.05% | 3.19% |
Drawdowns
VCITX vs. VWITX - Drawdown Comparison
The maximum VCITX drawdown since its inception was -19.44%, which is greater than VWITX's maximum drawdown of -11.56%. Use the drawdown chart below to compare losses from any high point for VCITX and VWITX. For additional features, visit the drawdowns tool.
Volatility
VCITX vs. VWITX - Volatility Comparison
Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) has a higher volatility of 1.95% compared to Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) at 1.37%. This indicates that VCITX's price experiences larger fluctuations and is considered to be riskier than VWITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.