VMLTX vs. CCSTX
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Capital Group California Short-Term Municipal Fund (CCSTX).
VMLTX is managed by Vanguard. It was launched on Aug 31, 1987. CCSTX is managed by Capital Group. It was launched on Apr 12, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMLTX or CCSTX.
Key characteristics
| VMLTX | CCSTX | |
|---|---|---|
| YTD Return | 2.43% | 1.96% |
| 1Y Return | 4.89% | 4.09% |
| 3Y Return (Ann) | 1.20% | 0.57% |
| 5Y Return (Ann) | 1.54% | 0.79% |
| 10Y Return (Ann) | 1.60% | 0.95% |
| Sharpe Ratio | 3.10 | 3.02 |
| Sortino Ratio | 5.24 | 4.69 |
| Omega Ratio | 1.89 | 1.85 |
| Calmar Ratio | 3.19 | 1.51 |
| Martin Ratio | 15.84 | 12.25 |
| Ulcer Index | 0.33% | 0.35% |
| Daily Std Dev | 1.68% | 1.42% |
| Max Drawdown | -6.41% | -5.30% |
| Current Drawdown | -0.58% | -0.62% |
Correlation
The correlation between VMLTX and CCSTX is 0.55, 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
VMLTX vs. CCSTX - Performance Comparison
In the year-to-date period, VMLTX achieves a 2.43% return, which is significantly higher than CCSTX's 1.96% return. Over the past 10 years, VMLTX has outperformed CCSTX with an annualized return of 1.60%, while CCSTX has yielded a comparatively lower 0.95% 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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VMLTX vs. CCSTX - Expense Ratio Comparison
VMLTX has a 0.17% expense ratio, which is lower than CCSTX's 0.30% expense ratio.
Risk-Adjusted Performance
VMLTX vs. CCSTX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Capital Group California Short-Term Municipal Fund (CCSTX). 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
VMLTX vs. CCSTX - Dividend Comparison
VMLTX's dividend yield for the trailing twelve months is around 2.72%, more than CCSTX's 2.08% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMLTX Vanguard Limited-Term Tax-Exempt Fund Investor Shares | 2.72% | 2.30% | 1.57% | 1.23% | 1.63% | 1.87% | 1.82% | 1.55% | 1.53% | 1.51% | 1.61% | 1.67% |
CCSTX Capital Group California Short-Term Municipal Fund | 2.08% | 1.84% | 0.93% | 0.71% | 1.12% | 1.41% | 1.30% | 1.19% | 1.02% | 1.05% | 0.86% | 0.17% |
Drawdowns
VMLTX vs. CCSTX - Drawdown Comparison
The maximum VMLTX drawdown since its inception was -6.41%, which is greater than CCSTX's maximum drawdown of -5.30%. Use the drawdown chart below to compare losses from any high point for VMLTX and CCSTX. For additional features, visit the drawdowns tool.
Volatility
VMLTX vs. CCSTX - Volatility Comparison
Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and Capital Group California Short-Term Municipal Fund (CCSTX) have volatilities of 0.75% and 0.72%, 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.