CATF vs VYM
American Century California Municipal Bond ETF vs Vanguard High Dividend Yield ETF
Which is better, CATF or VYM?
Municipal California against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y and the full window.
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 | VYM |
|---|---|---|
| Expense Ratio | 0.25% | 0.04%Best |
| AUM | $84M | $81.6B |
| Dividend Yield | 3.57% | 2.24% |
| Holdings | 304 | 613 |
| YTD Return | -0.45% | +14.82%Best |
| 1Y Return | +3.49% | +20.84%Best |
| 3Y Return (annualized) | - | +18.64% |
| 5Y Return (annualized) | - | +12.28% |
| Volatility (annualized) | 4.2%Best | 9.9% |
| Max Drawdown | -5.1%Best | -14.5% |
| $10,000 over 2.1 years | $10,382 | $13,963Best |
| Fund Family | American Century Investments | Vanguard (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal California | Large Cap Value |
| Inception | Jul 16, 2024 | Nov 10, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Jul 18, 2024 to Sep 4, 2026 (2.1 years).
CATF vs VYM 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 2.1 years both funds cover.
CATF vs VYM Performance
American Century California Municipal Bond ETF (CATF) is an ETF from American Century Investments and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year CATF returned +3.49% while VYM returned +20.84%. Year to date, CATF is down 0.45% versus a gain of 14.82% for VYM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 9.9% compared with 4.2% for CATF. 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 -5.1% for CATF and -14.5% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CATF charges 0.25% per year while VYM charges 0.04%. On a $10,000 position that is $25 vs $4 annually, a gap of $21 per year that compounds over a long holding period. On income, CATF currently yields 3.57% against 2.24% for VYM.
Holdings Overlap
We hold position weights for 83 holdings in CATF and 603 in VYM, totalling 30.3% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 48 days apart, CATF as of Aug 17, 2026 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 83 positions we hold weights for in CATF and 603 in VYM, against full books of 304 and 613.
You are not choosing between two funds in isolation.
Whichever of CATF and VYM 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 VYM?
CATF has an expense ratio of 0.25% while VYM charges 0.04%. VYM is the cheaper option, by $21 a year on a $10,000 investment.
Which performed better, CATF or VYM?
Over the past year CATF returned +3.49% vs +20.84% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (2 years), CATF annualized +1.80% vs +17.23% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CATF or VYM?
VYM has been the more volatile fund at 9.9% annualized versus 4.2% for CATF. Worst drawdown: CATF -5.1% vs VYM -14.5%.
Should I hold both CATF and VYM?
CATF and VYM have a monthly-return correlation of 0.63, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CATF or VYM?
CATF yields 3.57% while VYM yields 2.24%, so CATF currently pays the higher dividend yield.
Is VYM better than CATF?
VYM has a lower expense ratio. VYM led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.