VCLAX vs. BND
Compare and contrast key facts about Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) and Vanguard Total Bond Market ETF (BND).
VCLAX is managed by Vanguard. It was launched on Nov 12, 2001. BND is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. Aggregate Bond Index. It was launched on Apr 3, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCLAX or BND.
Performance
VCLAX vs. BND - Performance Comparison
Returns By Period
In the year-to-date period, VCLAX achieves a 2.32% return, which is significantly higher than BND's 1.66% return. Over the past 10 years, VCLAX has outperformed BND with an annualized return of 2.73%, while BND has yielded a comparatively lower 1.39% annualized return.
VCLAX
2.32%
0.37%
3.62%
7.23%
1.21%
2.73%
BND
1.66%
-0.79%
3.22%
6.06%
-0.33%
1.39%
Key characteristics
| VCLAX | BND | |
|---|---|---|
| Sharpe Ratio | 1.94 | 1.09 |
| Sortino Ratio | 2.90 | 1.59 |
| Omega Ratio | 1.44 | 1.19 |
| Calmar Ratio | 0.90 | 0.42 |
| Martin Ratio | 7.73 | 3.51 |
| Ulcer Index | 0.97% | 1.75% |
| Daily Std Dev | 3.89% | 5.65% |
| Max Drawdown | -16.25% | -18.84% |
| Current Drawdown | -1.69% | -9.11% |
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VCLAX vs. BND - Expense Ratio Comparison
VCLAX has a 0.09% expense ratio, which is higher than BND's 0.03% 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%.
Correlation
The correlation between VCLAX and BND is 0.46, 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.
Risk-Adjusted Performance
VCLAX vs. BND - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) and Vanguard Total Bond Market ETF (BND). 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
VCLAX vs. BND - Dividend Comparison
VCLAX's dividend yield for the trailing twelve months is around 3.34%, less than BND's 3.57% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 3.34% | 3.07% | 2.74% | 2.40% | 2.64% | 3.01% | 3.39% | 3.34% | 3.56% | 3.58% | 3.71% | 4.07% |
BND Vanguard Total Bond Market ETF | 3.57% | 3.09% | 2.60% | 1.97% | 2.22% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% | 2.79% | 2.78% |
Drawdowns
VCLAX vs. BND - Drawdown Comparison
The maximum VCLAX drawdown since its inception was -16.25%, smaller than the maximum BND drawdown of -18.84%. Use the drawdown chart below to compare losses from any high point for VCLAX and BND. For additional features, visit the drawdowns tool.
Volatility
VCLAX vs. BND - Volatility Comparison
Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) has a higher volatility of 1.71% compared to Vanguard Total Bond Market ETF (BND) at 1.52%. This indicates that VCLAX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.