VWITX vs. VCITX
Compare and contrast key facts about Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX).
VWITX is managed by Vanguard. It was launched on Sep 1, 1977. VCITX is managed by Vanguard. It was launched on Apr 7, 1986.
Performance
VWITX vs. VCITX - Performance Comparison
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VWITX vs. VCITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | -0.70% | 5.89% | 2.23% | 5.82% | -6.90% | 0.74% | 5.14% | 7.01% | 1.26% | 4.54% |
VCITX Vanguard California Long-Term Tax-Exempt Fund Investor Shares | -1.00% | 4.90% | 2.66% | 7.51% | -10.06% | 1.46% | 5.60% | 8.81% | 0.67% | 6.82% |
Returns By Period
In the year-to-date period, VWITX achieves a -0.70% return, which is significantly higher than VCITX's -1.00% return. Over the past 10 years, VWITX has underperformed VCITX with an annualized return of 2.27%, while VCITX has yielded a comparatively higher 2.40% annualized return.
VWITX
- 1D
- 0.15%
- 1M
- -2.85%
- YTD
- -0.70%
- 6M
- 0.92%
- 1Y
- 4.55%
- 3Y*
- 3.57%
- 5Y*
- 1.44%
- 10Y*
- 2.27%
VCITX
- 1D
- 0.27%
- 1M
- -3.17%
- YTD
- -1.00%
- 6M
- 0.86%
- 1Y
- 4.03%
- 3Y*
- 3.63%
- 5Y*
- 1.10%
- 10Y*
- 2.40%
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VWITX vs. VCITX - Expense Ratio Comparison
Both VWITX and VCITX have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
VWITX vs. VCITX — Risk / Return Rank
VWITX
VCITX
VWITX vs. VCITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) and Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX). 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.
| VWITX | VCITX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.37 | 0.89 | +0.48 |
Sortino ratioReturn per unit of downside risk | 1.85 | 1.21 | +0.64 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.24 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.45 | 0.97 | +0.48 |
Martin ratioReturn relative to average drawdown | 5.63 | 2.95 | +2.68 |
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
| VWITX | VCITX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 0.89 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.25 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.53 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 1.01 | -0.25 |
Correlation
The correlation between VWITX and VCITX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VWITX vs. VCITX - Dividend Comparison
VWITX's dividend yield for the trailing twelve months is around 3.25%, less than VCITX's 3.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 3.25% | 3.96% | 3.53% | 2.70% | 2.43% | 1.83% | 2.32% | 2.80% | 2.80% | 2.72% | 2.80% | 2.88% |
VCITX Vanguard California Long-Term Tax-Exempt Fund Investor Shares | 3.58% | 4.34% | 3.85% | 2.99% | 2.66% | 2.56% | 3.21% | 3.16% | 3.32% | 3.22% | 3.45% | 3.50% |
Drawdowns
VWITX vs. VCITX - Drawdown Comparison
The maximum VWITX drawdown since its inception was -29.13%, which is greater than VCITX's maximum drawdown of -22.71%. Use the drawdown chart below to compare losses from any high point for VWITX and VCITX.
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Drawdown Indicators
| VWITX | VCITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.13% | -22.71% | -6.42% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -5.34% | +1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -11.46% | -15.79% | +4.33% |
Max Drawdown (10Y)Largest decline over 10 years | -11.46% | -15.79% | +4.33% |
Current DrawdownCurrent decline from peak | -2.85% | -3.17% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -3.58% | -2.58% | -1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.76% | -0.76% |
Volatility
VWITX vs. VCITX - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) is 0.96%, while Vanguard California Long-Term Tax-Exempt Fund Investor Shares (VCITX) has a volatility of 1.26%. This indicates that VWITX experiences smaller price fluctuations and is considered to be less risky than VCITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWITX | VCITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.26% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 1.56% | 1.96% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 5.43% | -1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.22% | 4.51% | -1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.41% | 4.54% | -1.13% |