VCITX vs. VYM
Compare and contrast key facts about Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) and Vanguard High Dividend Yield ETF (VYM).
VCITX is managed by Vanguard. It was launched on Apr 7, 1986. VYM is a passively managed fund by Vanguard that tracks the performance of the FTSE High Dividend Yield Index. It was launched on Nov 10, 2006.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCITX or VYM.
Key characteristics
| VCITX | VYM | |
|---|---|---|
| YTD Return | 2.07% | 21.47% |
| 1Y Return | 9.21% | 33.41% |
| 3Y Return (Ann) | -0.47% | 9.71% |
| 5Y Return (Ann) | 1.18% | 11.32% |
| 10Y Return (Ann) | 2.64% | 10.17% |
| Sharpe Ratio | 2.32 | 3.25 |
| Sortino Ratio | 3.52 | 4.61 |
| Omega Ratio | 1.54 | 1.60 |
| Calmar Ratio | 0.89 | 5.38 |
| Martin Ratio | 9.76 | 21.37 |
| Ulcer Index | 0.94% | 1.63% |
| Daily Std Dev | 3.98% | 10.68% |
| Max Drawdown | -19.44% | -56.98% |
| Current Drawdown | -2.13% | 0.00% |
Correlation
The correlation between VCITX and VYM is -0.15. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
VCITX vs. VYM - Performance Comparison
In the year-to-date period, VCITX achieves a 2.07% return, which is significantly lower than VYM's 21.47% return. Over the past 10 years, VCITX has underperformed VYM with an annualized return of 2.64%, while VYM has yielded a comparatively higher 10.17% 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. VYM - Expense Ratio Comparison
VCITX has a 0.17% expense ratio, which is higher than VYM's 0.06% 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. VYM - 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 High Dividend Yield ETF (VYM). 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. VYM - Dividend Comparison
VCITX's dividend yield for the trailing twelve months is around 3.25%, more than VYM's 2.73% 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% |
VYM Vanguard High Dividend Yield ETF | 2.73% | 3.12% | 3.01% | 2.76% | 3.18% | 3.03% | 3.40% | 2.80% | 2.91% | 3.22% | 2.78% | 2.81% |
Drawdowns
VCITX vs. VYM - Drawdown Comparison
The maximum VCITX drawdown since its inception was -19.44%, smaller than the maximum VYM drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for VCITX and VYM. For additional features, visit the drawdowns tool.
Volatility
VCITX vs. VYM - Volatility Comparison
The current volatility for Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) is 1.96%, while Vanguard High Dividend Yield ETF (VYM) has a volatility of 3.80%. This indicates that VCITX experiences smaller price fluctuations and is considered to be less risky than VYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.