WMBDX vs. VCAIX

Last updated Aug 4, 2026

WMBDX (WesMark Government Bond Fund) and VCAIX (Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares) are both mutual funds - WMBDX is a Intermediate Core Bond fund managed by WesMark, while VCAIX is a Municipal Bonds fund actively managed by Vanguard. Over the past 10 years, WMBDX returned -0.41%/yr vs 2.02%/yr for VCAIX. Their 0.51 correlation means they have sometimes moved together and sometimes differently. WMBDX charges 1.03%/yr vs 0.14%/yr for VCAIX.

Performance

WMBDX vs. VCAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WesMark Government Bond Fund (WMBDX) and Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WMBDX achieves a -1.13% return, which is significantly lower than VCAIX's -0.26% return. Over the past 10 years, WMBDX has underperformed VCAIX with an annualized return of -0.41%, while VCAIX has yielded a comparatively higher 2.02% annualized return.

WMBDX

• 1D: -0.26%
• 1M: -1.40%
• 6M: -1.17%
• YTD: -1.13%
• 1Y: 1.35%
• 3Y*: 3.28%
• 5Y*: -2.38%
• 10Y*: -0.41%
• ALL TIME*: 2.22%

VCAIX

• 1D: -0.09%
• 1M: -1.82%
• 6M: -1.20%
• YTD: -0.26%
• 1Y: 3.82%
• 3Y*: 3.74%
• 5Y*: 1.17%
• 10Y*: 2.02%
• ALL TIME*: 3.95%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VCAIX Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares	$0.00	$0.00	$0.00
WMBDX WesMark Government Bond Fund	$0.00	$0.00	$0.00

WMBDX vs. VCAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WMBDX WesMark Government Bond Fund	-1.13%	6.94%	0.91%	2.39%	-17.48%	-1.45%	3.62%	4.74%	0.80%	1.29%
VCAIX Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares	-0.26%	5.83%	2.15%	5.82%	-6.69%	0.40%	4.53%	6.95%	1.19%	4.83%

Correlation

The correlation between WMBDX and VCAIX is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (10Y) Provides a long-term view across more market conditions.	0.51
Correlation (All Time) Calculated using the full available price history since Mar 24, 1998	0.51

The correlation between WMBDX and VCAIX shifts across timeframes, from 0.51 (all time) to 0.64 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

WMBDX vs. VCAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WMBDX

WMBDX Risk / Return Rank: 11
WMBDX Sharpe Ratio Rank: 12
WMBDX Sortino Ratio Rank: 11
WMBDX Omega Ratio Rank: 11
WMBDX Calmar Ratio Rank: 11
WMBDX Martin Ratio Rank: 11

VCAIX

VCAIX Risk / Return Rank: 58
VCAIX Sharpe Ratio Rank: 75
VCAIX Sortino Ratio Rank: 74
VCAIX Omega Ratio Rank: 85
VCAIX Calmar Ratio Rank: 29
VCAIX Martin Ratio Rank: 26

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WMBDX vs. VCAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WesMark Government Bond Fund (WMBDX) and Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WMBDX	VCAIX	Difference
Sharpe ratio: Return per unit of total volatility	0.53	1.80	-1.27
Sortino ratio: Return per unit of downside risk	0.78	2.59	-1.81
Omega ratio: Gain probability vs. loss probability	1.09	1.42	-0.33
Calmar ratio: Return relative to maximum drawdown	0.61	1.41	-0.80
Martin ratio: Return relative to average drawdown	1.52	4.01	-2.48

WMBDX vs. VCAIX - Sharpe Ratio Comparison

The current WMBDX Sharpe Ratio is 0.53, which is lower than the VCAIX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of WMBDX and VCAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WMBDX vs. VCAIX - Drawdown Comparison

The maximum WMBDX drawdown since its inception was -25.15%, which is greater than VCAIX's maximum drawdown of -11.22%. Use the drawdown chart below to compare losses from any high point for WMBDX and VCAIX.

Drawdown Indicators

	WMBDX	VCAIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.15%	-11.22%	-13.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.49%	-2.98%	-0.51%
Max Drawdown (3Y) Largest decline over 3 years	-6.80%	-3.88%	-2.92%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-11.22%	-13.68%
Max Drawdown (10Y) Largest decline over 10 years	-25.15%	-11.22%	-13.93%
Current Drawdown Current decline from peak	-11.64%	-2.38%	-9.26%
Average Drawdown Average peak-to-trough decline	-3.25%	-1.36%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	1.05%	+0.35%

Volatility

WMBDX vs. VCAIX - Volatility Comparison

WesMark Government Bond Fund (WMBDX) has a higher volatility of 0.92% compared to Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) at 0.80%. This indicates that WMBDX's price experiences larger fluctuations and is considered to be riskier than VCAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WMBDX	VCAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.80%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	3.11%	1.95%	+1.16%
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	2.36%	+1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.13%	3.26%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.74%	3.42%	+1.32%

WMBDX vs. VCAIX - Expense Ratio Comparison

WMBDX has a 1.03% expense ratio, which is higher than VCAIX's 0.14% expense ratio.

Dividends

WMBDX vs. VCAIX - Dividend Comparison

WMBDX's dividend yield for the trailing twelve months is around 3.34%, more than VCAIX's 2.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VCAIX Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares	2.91%	3.75%	3.27%	2.49%	2.28%	1.71%	2.19%	2.64%	2.63%	2.56%	2.65%	2.78%
WMBDX WesMark Government Bond Fund	3.34%	3.49%	3.50%	2.95%	1.40%	1.26%	2.06%	2.07%	1.70%	2.01%	1.85%	1.52%

Frequently Asked Questions

Can I hold both WMBDX and VCAIX in my portfolio?

WMBDX and VCAIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WMBDX or VCAIX?

WMBDX has higher volatility (0.92%) compared to VCAIX (0.80%). In terms of maximum drawdown, WMBDX dropped -25.15% vs VCAIX's -11.22%.

Which has better risk-adjusted returns?

VCAIX currently has the higher Sharpe Ratio (1.80 vs 0.53), 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.