VWALX vs. VCLAX
Compare and contrast key facts about Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX).
VWALX is managed by Vanguard. It was launched on Nov 12, 2001. VCLAX 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: VWALX or VCLAX.
Correlation
The correlation between VWALX and VCLAX 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
VWALX vs. VCLAX - Performance Comparison
Key characteristics
VWALX:
0.14
VCLAX:
0.05
VWALX:
0.22
VCLAX:
0.10
VWALX:
1.04
VCLAX:
1.02
VWALX:
0.13
VCLAX:
0.05
VWALX:
0.52
VCLAX:
0.18
VWALX:
1.69%
VCLAX:
1.66%
VWALX:
6.21%
VCLAX:
5.90%
VWALX:
-17.74%
VCLAX:
-16.25%
VWALX:
-4.90%
VCLAX:
-4.87%
Returns By Period
The year-to-date returns for both stocks are quite close, with VWALX having a -2.98% return and VCLAX slightly lower at -3.10%. Over the past 10 years, VWALX has outperformed VCLAX with an annualized return of 2.64%, while VCLAX has yielded a comparatively lower 2.18% annualized return.
VWALX
-2.98%
-2.98%
-2.14%
0.88%
1.89%
2.64%
VCLAX
-3.10%
-2.80%
-2.11%
0.30%
0.70%
2.18%
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VWALX vs. VCLAX - Expense Ratio Comparison
Both VWALX and VCLAX 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
VWALX vs. VCLAX — Risk-Adjusted Performance Rank
VWALX
VCLAX
VWALX vs. VCLAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX). 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
VWALX vs. VCLAX - Dividend Comparison
VWALX's dividend yield for the trailing twelve months is around 4.02%, more than VCLAX's 3.57% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 4.02% | 3.82% | 3.59% | 3.44% | 2.93% | 3.16% | 3.44% | 3.84% | 3.77% | 3.88% | 3.75% | 3.83% |
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 3.57% | 3.38% | 3.07% | 2.74% | 2.40% | 2.64% | 3.01% | 3.39% | 3.34% | 3.56% | 3.58% | 3.71% |
Drawdowns
VWALX vs. VCLAX - Drawdown Comparison
The maximum VWALX drawdown since its inception was -17.74%, which is greater than VCLAX's maximum drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for VWALX and VCLAX. For additional features, visit the drawdowns tool.
Volatility
VWALX vs. VCLAX - Volatility Comparison
Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) has a higher volatility of 4.84% compared to Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) at 4.58%. This indicates that VWALX's price experiences larger fluctuations and is considered to be riskier than VCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.