CATF vs VTEC
American Century California Municipal Bond ETF vs Vanguard California Tax-Exempt Bond ETF
Which is better, CATF or VTEC?
Nearly the same fund. VTEC costs less.
VTEC has a lower expense ratio. CATF led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CATF | VTEC |
|---|---|---|
| Expense Ratio | 0.25% | 0.06%Best |
| AUM | $167M | $4.4B |
| Dividend Yield | 3.60% | 3.23% |
| Holdings | 760 | 11,948 |
| YTD Return | +0.67%Best | -2.36% |
| 1Y Return | +1.19%Best | -2.07% |
| Volatility (annualized) | 5.3% | 5.0%Best |
| Max Drawdown | -6.3%Best | -8.1% |
| $10,000 over 2.3 years | $10,504Best | $10,222 |
| Fund Family | American Century Investments | Vanguard (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal California | Municipal California |
| Inception | Jul 16, 2024 | Jan 26, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Jul 18, 2024 to Nov 6, 2026 (2.3 years).
CATF vs VTEC growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.3 years both funds cover.
CATF vs VTEC Performance
American Century California Municipal Bond ETF (CATF) is an ETF from American Century Investments and Vanguard California Tax-Exempt Bond ETF (VTEC) is an ETF from Vanguard (US). Over the past year CATF returned +1.19% while VTEC returned -2.07%. Year to date, CATF is up 0.67% versus a loss of 2.36% for VTEC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CATF has been the more volatile fund, with annualized monthly volatility of 5.3% compared with 5.0% for VTEC. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.3% for CATF and -8.1% for VTEC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CATF charges 0.25% per year while VTEC charges 0.06%. On a $10,000 position that is $25 vs $6 annually, a gap of $19 per year that compounds over a long holding period. On income, CATF currently yields 3.60% against 3.23% for VTEC.
Holdings Overlap
We hold position weights for 96 holdings in CATF and 697 in VTEC, totalling 26.8% and 13.6% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 48 positions appear in both.
48 positions in common, counted across the 96 positions we hold weights for in CATF and 697 in VTEC, against full books of 760 and 11,948.
Top Shared Holdings
| Stock | Weight in CATF | Weight in VTEC | Difference |
|---|---|---|---|
| CA UNVHGR 05/15/2045Univ Calif Regts Med Ctr Poole 0.1% May 15, 2045 | 1.62% | 0.16% | 1.46% |
| CA CAS 5 09/01/2052State Of California 5 09/01/2052 | 0.75% | 0.04% | 0.71% |
| CA CASHGR 5.5 11/01/California State University 5.5 11/01/2049 | 0.71% | 0.01% | 0.70% |
| CA CAS 4 09/01/2043State Of California 4 09/01/2043 | 0.69% | 0.01% | 0.68% |
| CA TJPDEV 5 10/01/20Transbay Jt Pwrs Auth Calif | 0.63% | 0.00% | 0.63% |
| CA SFOAPT 5 05/01/20Airport Commission Of The City And County Of San Francisco 5 5/1/2048 | 0.61% | 0.00% | 0.61% |
| CA LOSAPT 5 05/15/20City Of Los Angeles Department Of Airports 5 05/15/2048 | 0.54% | 0.00% | 0.54% |
| CA LCFDEV 5.25 06/01Los Angeles County Facilities 2 Inc 5.25 06/01/2049 | 0.51% | 0.02% | 0.49% |
| CA RIVTRN 4 06/01/20Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Rctc 91 Express Lanes, Refunding Series 2021B-1. | 0.48% | 0.02% | 0.46% |
| CA SFOFAC 5 09/01/20San Francisco Calif City & Cnty Cmnty Facs Dist City & Cnty Of San Fran Ca Cfd 2014-1 22A Sf 5.0% 09-01-47 | 0.48% | 0.02% | 0.46% |
You are not choosing between two funds in isolation.
Whichever of CATF and VTEC you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CATF or VTEC?
CATF has an expense ratio of 0.25% while VTEC charges 0.06%. VTEC is the cheaper option, by $19 a year on a $10,000 investment.
Which performed better, CATF or VTEC?
Over the past year CATF returned +1.19% vs -2.07% for VTEC, so CATF leads on 1-year performance. Over the longest common window we track (2 years), CATF annualized +2.16% vs +0.96% for VTEC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CATF or VTEC?
CATF has been the more volatile fund at 5.3% annualized versus 5.0% for VTEC. Worst drawdown: CATF -6.3% vs VTEC -8.1%.
Should I hold both CATF and VTEC?
CATF and VTEC have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, CATF or VTEC?
CATF yields 3.60% while VTEC yields 3.23%, so CATF currently pays the higher dividend yield.
Is VTEC better than CATF?
VTEC has a lower expense ratio. CATF led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. Which one suits a particular account depends on what it is for. This is information, not a recommendation.