VTEC vs. AXON
VTEC (Vanguard California Tax-Exempt Bond ETF) is Municipal Bonds fund tracking the S&P California AMT-Free Municipal Bond Index, while AXON (Axon Enterprise, Inc.) is a stock. Over the past year, VTEC returned 6.69% vs -36.57% for AXON. At a 0.04 correlation, their price movements are largely independent.
Performance
VTEC vs. AXON - Performance Comparison
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Returns By Period
In the year-to-date period, VTEC achieves a 0.98% return, which is significantly higher than AXON's -15.22% return.
VTEC
- 1D
- -0.05%
- 1M
- 0.62%
- YTD
- 0.98%
- 6M
- 1.25%
- 1Y
- 6.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AXON
- 1D
- -1.76%
- 1M
- 22.28%
- YTD
- -15.22%
- 6M
- -11.42%
- 1Y
- -36.57%
- 3Y*
- 35.57%
- 5Y*
- 27.81%
- 10Y*
- 35.69%
VTEC vs. AXON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VTEC Vanguard California Tax-Exempt Bond ETF | 0.98% | 3.98% | 1.42% |
AXON Axon Enterprise, Inc. | -15.22% | -4.44% | 133.75% |
Correlation
The correlation between VTEC and AXON is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2024 | 0.04 |
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Return for Risk
VTEC vs. AXON — Risk / Return Rank
VTEC
AXON
VTEC vs. AXON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard California Tax-Exempt Bond ETF (VTEC) and Axon Enterprise, Inc. (AXON). 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.
| VTEC | AXON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.05 | ||
| Sortino ratioReturn per unit of downside risk | +4.32 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 0.90 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | -0.61 | +2.96 |
| Martin ratioReturn relative to average drawdown | 7.83 | -1.06 | +8.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VTEC | AXON | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.39 | -0.67 | +3.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.52 | +0.21 |
Drawdowns
VTEC vs. AXON - Drawdown Comparison
The maximum VTEC drawdown since its inception was -4.50%, smaller than the maximum AXON drawdown of -91.78%. Use the drawdown chart below to compare losses from any high point for VTEC and AXON.
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Drawdown Indicators
| VTEC | AXON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.50% | -91.78% | +87.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -60.28% | +57.43% |
Max Drawdown (3Y)Largest decline over 3 years | — | -60.28% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -60.28% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.28% | — |
Current DrawdownCurrent decline from peak | -0.82% | -44.72% | +43.90% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -43.59% | +42.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 34.48% | -33.62% |
Volatility
VTEC vs. AXON - Volatility Comparison
The current volatility for Vanguard California Tax-Exempt Bond ETF (VTEC) is 0.86%, while Axon Enterprise, Inc. (AXON) has a volatility of 19.59%. This indicates that VTEC experiences smaller price fluctuations and is considered to be less risky than AXON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTEC | AXON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 19.59% | -18.73% |
Volatility (6M)Calculated over the trailing 6-month period | 1.87% | 43.35% | -41.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 54.98% | -52.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.76% | 47.85% | -44.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.76% | 49.10% | -45.34% |
Dividends
VTEC vs. AXON - Dividend Comparison
VTEC's dividend yield for the trailing twelve months is around 3.16%, while AXON has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AXON Axon Enterprise, Inc. | 0.00% | 0.00% | 0.00% |
VTEC Vanguard California Tax-Exempt Bond ETF | 3.16% | 3.13% | 2.54% |
Frequently Asked Questions
VTEC and AXON have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AXON has higher volatility (19.59%) compared to VTEC (0.86%). In terms of maximum drawdown, VTEC dropped -4.50% vs AXON's -91.78%.
VTEC currently has the higher Sharpe Ratio (2.39 vs -0.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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