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VCAIX Vanguard CA Interm-Term Tax-Exempt Inv

  • Fund
  • VCAIX
  • Price as of: Dec 09, 2016
  • $11.53
  • - $0.00
  • - 0.00%
  • Category
  • Single State Municipal Bonds

VCAIX - Profile

Vitals

  • YTD Return -2.7%
  • 3 Yr Annualized Return 3.1%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $11.4 B
  • Holdings in Top 10 4.1%

52 WEEK LOW AND HIGH

$11.53
$11.38
$12.18

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.20%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 17.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$3,000

IRA

$3,000

Investment Themes

CATEGORY

Single State Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Muni California Intermediate

Distributions

  • YTD Total Return -2.7%
  • 3 Yr Annualized Total Return 3.1%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.81%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Vanguard California Intermediate Term Tax Exempt Fund
  • Fund Family Name Vanguard
  • Inception Date Mar 04, 1994
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Adam M. Ferguson

Fund Description

The Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) seeks to provide a moderate level of income that is exempt from Federal taxes as well as California state taxes. The fund invests in a variety of muni bonds issued by the state of California and its authorities. The fund uses fundamental credit quality analysis to reduce risk and buy bonds that have the potential for a high total return and income.

For investors in higher tax brackets who live in California, VCAIX makes an ideal choice for fixed-income portfolios. The fund is managed by Vanguard’s Fixed Income Group.

VCAIX - Performance

Return Ranking - Trailing

Period VCAIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.7% -22.9% 2.7% 31.24% 3
1 Yr -0.6% -4.5% 11.9% 70.35% 4
3 Yr 3.1% * -1.9% 8.2% 60.33% 4
5 Yr 3.5% * -3.0% 7.1% 31.30% 2
10 Yr 3.8% * -5.5% 5.3% 19.58% 1

* Annualized


Return Ranking - Calendar

Period VCAIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.3% -7.9% 1.8% 8.01% 1
2014 4.8% -0.2% 15.6% 49.84% 4
2013 -4.0% -20.2% 0.0% 3.83% 1
2012 3.3% -0.9% 13.5% 40.31% 3
2011 6.2% -0.8% 10.2% 27.18% 2

Total Return Ranking - Trailing

Period VCAIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.7% -22.9% 2.7% 34.08% 3
1 Yr -0.6% -6.6% 8.6% 38.55% 2
3 Yr 3.1% * -1.7% 8.2% 43.03% 3
5 Yr 3.5% * -3.0% 7.1% 24.17% 2
10 Yr 3.8% * -5.5% 5.7% 14.60% 1

* Annualized


Total Return Ranking - Calendar

Period VCAIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.3% -7.9% 4.1% 12.81% 1
2014 4.8% -0.2% 17.8% 53.26% 4
2013 -4.0% -20.2% 0.7% 6.27% 1
2012 3.3% -0.6% 13.5% 44.71% 3
2011 6.2% -0.8% 15.9% 31.92% 2

NAV & Total Return History

VCAIX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

VCAIX Category Low Category High VCAIX % Rank Quintile
Net Assets 11.4 B 2.11 M 16.6 B 0.29% 1
Number of Holdings 2826 18 3582 0.19% 1
Net Assets in Top 10 507 M 2.12 M 2.29 B 0.58% 1
Weighting of Top 10 4.1% 4.1% 73.5% 34.69% 5

Top 10 Holdings

  1. Univ Calif Revs For Prev Rev Bds 5% 0.52%
  2. Los Angeles Calif Uni Sch Dist 5% 0.48%
  3. California St For Previous Iss Tax Ex 5% 0.45%
  4. California St For Previous Iss Go Bds 3% 0.44%
  5. Los Angeles Calif Uni Sch Dist 5% 0.42%
  6. California St Dept Wtr Res Pwr Pwr Su 5% 0.40%
  7. California St Econ Recover Economic 5% 0.39%
  8. Los Angeles Calif Uni Sch Dist 4.75% 0.34%
  9. California St Go Bds 5.75% 0.33%
  10. Irvine Calif Uni Sch Dist 0.46% 0.32%

Asset Allocation

Weighting Category Low Category High VCAIX % Rank Quintile
Bonds
98.99% 0.00% 101.50% 7.66% 3
Cash
1.01% -1.55% 99.63% 16.18% 3
Other
0.00% -0.62% 23.51% 5.33% 1
Convertible Bonds
0.00% 0.00% 0.00% 0.10% 1
Preferred Stocks
0.00% 0.00% 0.00% 0.10% 1
Stocks
0.00% 0.00% 0.72% 0.97% 1

Bond Sector Breakdown

Weighting Category Low Category High VCAIX % Rank Quintile
Municipal
98.56% 0.00% 106.80% 10.47% 3
Cash & Equivalents
1.01% -1.55% 99.63% 16.18% 3
Corporate
0.25% 0.00% 5.37% 0.97% 1
Government
0.17% -11.00% 5.03% 4.55% 1
Securitized
0.00% 0.00% 0.00% 0.10% 1
Derivative
0.00% -0.13% 0.00% 0.10% 1

Bond Geographic Breakdown

Weighting Category Low Category High VCAIX % Rank Quintile
US
98.99% 0.00% 101.50% 7.66% 3
Non US
0.00% 0.00% 0.00% 0.10% 1

VCAIX - Expenses

Operational Fees

VCAIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.20% 0.12% 5.19% 17.73% 1
Management Fee 0.17% 0.00% 0.80% 3.78% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.33% N/A N/A

Sales Fees

VCAIX Fees (% of AUM) Category Low Category High VCAIX Rank Quintile
Front Load N/A 1.00% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

VCAIX Fees (% of AUM) Category Low Category High VCAIX Rank Quintile
Max Redemption Fee N/A 0.50% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VCAIX Fees (% of AUM) Category Low Category High VCAIX Rank Quintile
Turnover 17.00% 0.00% 219.00% 4.70% 4

VCAIX - Distributions

Dividend Yield Analysis

VCAIX Category Low Category High VCAIX % Rank Quintile
Dividend Yield 0.3% 0.00% 0.99% 16.97% 3

Dividend Distribution Analysis

VCAIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

VCAIX Category Low Category High VCAIX % Rank Quintile
Net Income Ratio 2.81% 0.00% 7.39% 16.47% 3

Capital Gain Distribution Analysis

VCAIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

VCAIX - Managers

Adam M. Ferguson

Manager

Start Date

Jun 28, 2013

Tenure

3.43

Tenure Rank

9.1%

Adam M. Ferguson, CFA, Portfolio Manager. He has been with Vanguard since 2004; has worked in investment management since 2008. Education: B.S., Wilmington University.


Tenure Analysis

Category Low

0.0

Category High

37.2

Category Average

9.26

Category Mode

1.9