VCLAX vs. VWALX
Compare and contrast key facts about Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX).
VCLAX is managed by Vanguard. It was launched on Nov 12, 2001. VWALX is managed by Vanguard. It was launched on Nov 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCLAX or VWALX.
Correlation
The correlation between VCLAX and VWALX is -0.11. 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
VCLAX vs. VWALX - Performance Comparison
Key characteristics
VCLAX:
0.11
VWALX:
0.19
VCLAX:
0.18
VWALX:
0.28
VCLAX:
1.03
VWALX:
1.05
VCLAX:
0.10
VWALX:
0.18
VCLAX:
0.39
VWALX:
0.69
VCLAX:
1.68%
VWALX:
1.72%
VCLAX:
5.91%
VWALX:
6.21%
VCLAX:
-16.25%
VWALX:
-17.74%
VCLAX:
-4.52%
VWALX:
-4.63%
Returns By Period
The year-to-date returns for both investments are quite close, with VCLAX having a -2.75% return and VWALX slightly higher at -2.70%. Over the past 10 years, VCLAX has underperformed VWALX with an annualized return of 2.21%, while VWALX has yielded a comparatively higher 2.68% annualized return.
VCLAX
-2.75%
-2.19%
-1.92%
0.75%
0.77%
2.21%
VWALX
-2.70%
-2.42%
-1.94%
1.28%
1.95%
2.68%
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VCLAX vs. VWALX - Expense Ratio Comparison
Both VCLAX and VWALX have an expense ratio of 0.09%, 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
VCLAX vs. VWALX — Risk-Adjusted Performance Rank
VCLAX
VWALX
VCLAX vs. VWALX - 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 High-Yield Tax-Exempt Fund Admiral Shares (VWALX). 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. VWALX - Dividend Comparison
VCLAX's dividend yield for the trailing twelve months is around 3.55%, less than VWALX's 4.01% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 3.55% | 3.38% | 3.07% | 2.74% | 2.40% | 2.64% | 3.01% | 3.39% | 3.34% | 3.56% | 3.58% | 3.71% |
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 4.01% | 3.82% | 3.59% | 3.44% | 2.93% | 3.16% | 3.44% | 3.84% | 3.77% | 3.88% | 3.75% | 3.83% |
Drawdowns
VCLAX vs. VWALX - Drawdown Comparison
The maximum VCLAX drawdown since its inception was -16.25%, smaller than the maximum VWALX drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for VCLAX and VWALX. For additional features, visit the drawdowns tool.
Volatility
VCLAX vs. VWALX - Volatility Comparison
The current volatility for Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) is 4.60%, while Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) has a volatility of 4.85%. This indicates that VCLAX experiences smaller price fluctuations and is considered to be less risky than VWALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.