VCLAX: Vanguard CA Long-Term Tax-Exempt Adm

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VCLAX Vanguard CA Long-Term Tax-Exempt Adm

  • Fund
  • VCLAX
  • Price as of: Oct 18, 2019
  • $12.54 - $0.00 - 0.00%

VCLAX - Profile

Vitals

  • YTD Return 5.4%
  • 3 Yr Annualized Return 0.6%
  • 5 Yr Annualized Return 0.6%
  • Net Assets $4.88 B
  • Holdings in Top 10 5.6%

52 WEEK LOW AND HIGH

$12.54
$11.64
$12.69

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.09%

SALES FEES

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

BROKERAGE FEES

  • Turnover 15.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

N/A

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Muni California Long

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.39%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Vanguard California Long Term Tax Exempt Fund
  • Fund Family Name Vanguard
  • Inception Date Nov 12, 2001
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager James M. D'Arcy

VCLAX - Performance

Return Ranking - Trailing

Period VCLAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% 2.3% 10.4% 28.50%
1 Yr 7.3% 1.8% 13.0% 26.56%
3 Yr 0.6%* -1.5% 4.4% 40.23%
5 Yr 0.6%* -1.5% 5.9% 44.51%
10 Yr 1.2%* -1.0% 7.4% 44.60%

* Annualized


Return Ranking - Calendar

Period VCLAX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.6% -6.2% 2.8% 48.11%
2017 3.4% -0.2% 6.8% 21.30%
2016 -3.2% -7.9% -1.7% 53.75%
2015 0.7% -1.9% 1.8% 26.75%
2014 7.7% 1.5% 16.6% 43.79%

Total Return Ranking - Trailing

Period VCLAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% 2.3% 10.4% 28.50%
1 Yr 7.3% 0.8% 13.0% 19.27%
3 Yr 0.6%* -1.5% 4.1% 42.53%
5 Yr 0.6%* -1.5% 5.9% 46.95%
10 Yr 1.2%* -1.0% 7.1% 48.20%

* Annualized


Total Return Ranking - Calendar

Period VCLAX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.6% -6.2% 2.8% 52.97%
2017 3.4% -0.2% 6.9% 24.26%
2016 -3.2% -7.9% 0.8% 56.88%
2015 0.7% -1.9% 3.7% 31.21%
2014 7.7% 2.0% 16.6% 46.41%

NAV & Total Return History

VCLAX - Holdings

Concentration Analysis

VCLAX Category Low Category High VCLAX % Rank
Net Assets 4.88 B 3.1 M 16.3 B 4.08%
Number of Holdings 1034 18 3999 4.08%
Net Assets in Top 10 256 M -110 M 2.99 B 15.31%
Weighting of Top 10 5.59% 3.8% 80.5% 98.47%

Top 10 Holdings

  1. UNIVERSITY CALIF REVS 1.53% 0.81%

  2. CALIFORNIA HEALTH FACS FING AUTH REV 5% 0.67%

  3. CALIFORNIA ST 5% 0.57%

  4. CALIFORNIA HEALTH FACS FING AUTH REV 5% 0.55%

  5. CALIFORNIA EDL FACS AUTH REV 5% 0.54%

  6. BAY AREA TOLL AUTH CALIF TOLL BRDG REV 5% 0.51%

  7. BAY AREA TOLL AUTH CALIF TOLL BRDG REV 5% 0.50%

  8. CALIFORNIA EDL FACS AUTH REV 5% 0.49%

  9. ALAMEDA CORRIDOR TRANSN AUTH CALIF REV 0% 0.48%

  10. CALIFORNIA ST 5% 0.46%


Asset Allocation

Weighting Return Low Return High VCLAX % Rank
Bonds
99.89% 91.08% 158.35% 38.27%
Cash
0.10% -38.61% 8.91% 58.16%
Stocks
0.00% 0.00% 0.20% 38.27%
Preferred Stocks
0.00% 0.00% 0.00% 37.24%
Other
0.00% -40.48% 2.17% 40.82%
Convertible Bonds
0.00% 0.00% 0.00% 37.24%

Bond Sector Breakdown

Weighting Return Low Return High VCLAX % Rank
Municipal
99.90% 91.09% 153.13% 41.84%
Cash & Equivalents
0.10% -38.61% 8.91% 58.16%
Derivative
0.00% 0.00% 0.00% 37.24%
Securitized
0.00% 0.00% 1.72% 37.24%
Corporate
0.00% 0.00% 1.71% 43.37%
Government
0.00% -5.09% 1.93% 33.16%

Bond Geographic Breakdown

Weighting Return Low Return High VCLAX % Rank
US
99.78% 87.68% 158.35% 17.35%
Non US
0.11% 0.00% 8.93% 77.55%

VCLAX - Expenses

Operational Fees

VCLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.09% 0.09% 28.64% 99.48%
Management Fee 0.08% 0.00% 0.70% 1.02%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.33% N/A

Sales Fees

VCLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 4.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

VCLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 1.00% 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.

VCLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 15.00% 0.00% 293.00% 20.10%

VCLAX - Distributions

Dividend Yield Analysis

VCLAX Category Low Category High VCLAX % Rank
Dividend Yield 1.60% 0.00% 4.09% 38.27%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

VCLAX Category Low Category High VCLAX % Rank
Net Income Ratio 3.39% 0.87% 6.70% 31.77%

Capital Gain Distribution Analysis

VCLAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

VCLAX - Managers

James M. D'Arcy

Manager

Start Date

Tenure

Tenure Rank

Jul 22, 2011

8.2

8.2%

James M. D’Arcy, CFA, Portfolio Manager at Vanguard. He has worked in investment management since 1996, has managed investment portfolios since 1999, has been with Vanguard since 2011. Prior to this, James D'Arcy is a director and senior portfolio manager for Columbia Management focusing on tax-exempt and crossover short duration accounts. In addition, he manages two short-term funds and various short-term separate accounts and is responsible for developing tax-exempt strategies for Columbia Management’s tax-exempt liquidity strategies group. Mr. D'Arcy joined Columbia Management in 1999 and has been a member of the investment community since 1996. Prior to joining Columbia Management, Mr. D'Arcy worked on the fixed-income trading desk at Wells Capital Management. Mr. D'Arcy received his B.A. in economics from the University of Colorado at Boulder. He holds the Chartered Financial Analyst designation. In addition, he is a member of the CFA North Carolina Society and the National Federation of Municipal Analysts.


Tenure Analysis

Category Low

0.25

Category High

30.77

Category Average

9.03

Category Mode

6.59