Correlation
The correlation between VMLTX and DFCMX is -0.02. 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.
VMLTX vs. DFCMX
Compare and contrast key facts about Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) and DFA California Short Term Municipal Bond Portfolio (DFCMX).
VMLTX is managed by Vanguard. It was launched on Aug 31, 1987. DFCMX is managed by Dimensional Fund Advisors LP. It was launched on Apr 1, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMLTX or DFCMX.
Performance
VMLTX vs. DFCMX - Performance Comparison
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Key characteristics
VMLTX:
1.73
DFCMX:
3.41
VMLTX:
2.34
DFCMX:
5.71
VMLTX:
1.43
DFCMX:
2.53
VMLTX:
1.98
DFCMX:
5.04
VMLTX:
7.62
DFCMX:
31.65
VMLTX:
0.52%
DFCMX:
0.09%
VMLTX:
2.38%
DFCMX:
0.87%
VMLTX:
-6.41%
DFCMX:
-2.20%
VMLTX:
-0.39%
DFCMX:
-0.20%
Returns By Period
The year-to-date returns for both stocks are quite close, with VMLTX having a 0.99% return and DFCMX slightly lower at 0.95%. Over the past 10 years, VMLTX has outperformed DFCMX with an annualized return of 1.76%, while DFCMX has yielded a comparatively lower 1.12% annualized return.
VMLTX
0.99%
0.28%
0.59%
4.09%
2.67%
1.54%
1.76%
DFCMX
0.95%
0.10%
0.99%
2.93%
2.19%
1.12%
1.12%
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VMLTX vs. DFCMX - Expense Ratio Comparison
VMLTX has a 0.17% expense ratio, which is lower than DFCMX's 0.19% expense ratio. Despite the difference, 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
VMLTX vs. DFCMX — Risk-Adjusted Performance Rank
VMLTX
DFCMX
VMLTX vs. DFCMX - 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 DFA California Short Term Municipal Bond Portfolio (DFCMX). 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.
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Dividends
VMLTX vs. DFCMX - Dividend Comparison
VMLTX's dividend yield for the trailing twelve months is around 2.90%, more than DFCMX's 2.49% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMLTX Vanguard Limited-Term Tax-Exempt Fund Investor Shares | 2.90% | 2.79% | 2.30% | 1.57% | 1.23% | 1.63% | 1.87% | 1.82% | 1.55% | 1.53% | 1.51% | 1.61% |
DFCMX DFA California Short Term Municipal Bond Portfolio | 2.49% | 2.60% | 1.90% | 0.71% | 0.36% | 0.87% | 1.17% | 1.04% | 0.87% | 0.86% | 0.82% | 0.80% |
Drawdowns
VMLTX vs. DFCMX - Drawdown Comparison
The maximum VMLTX drawdown since its inception was -6.41%, which is greater than DFCMX's maximum drawdown of -2.20%. Use the drawdown chart below to compare losses from any high point for VMLTX and DFCMX.
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Volatility
VMLTX vs. DFCMX - Volatility Comparison
Vanguard Limited-Term Tax-Exempt Fund Investor Shares (VMLTX) has a higher volatility of 0.34% compared to DFA California Short Term Municipal Bond Portfolio (DFCMX) at 0.26%. This indicates that VMLTX's price experiences larger fluctuations and is considered to be riskier than DFCMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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