FCAL vs VYM
First Trust California Municipal High income ETF vs Vanguard High Dividend Yield ETF
Which is better, FCAL or VYM?
Municipal California against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y 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 | FCAL | VYM |
|---|---|---|
| Expense Ratio | 0.49% | 0.04%Best |
| AUM | $220M | $81.6B |
| Dividend Yield | 3.43% | 2.24% |
| Holdings | 280 | 613 |
| YTD Return | -0.48% | +14.82%Best |
| 1Y Return | +3.24% | +20.84%Best |
| 3Y Return (annualized) | +2.90% | +18.64%Best |
| 5Y Return (annualized) | +0.08% | +12.28%Best |
| Volatility (annualized) | 5.6%Best | 14.7% |
| Max Drawdown | -14.8%Best | -35.7% |
| $10,000 over 5 years | $10,040 | $17,845Best |
| Fund Family | First Trust Portfolios (US) | Vanguard (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal California | Large Cap Value |
| Inception | Jun 21, 2017 | Nov 10, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 27, 2017 to Sep 4, 2026 (9.2 years).
FCAL 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 9.2 years both funds cover.
FCAL vs VYM Performance
First Trust California Municipal High income ETF (FCAL) is an ETF from First Trust Portfolios (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year FCAL returned +3.24% while VYM returned +20.84%. Year to date, FCAL is down 0.48% versus a gain of 14.82% for VYM.
Over three years, FCAL compounded at +2.90% per year against +18.64% for VYM; over five years the annualized figures are +0.08% and +12.28% respectively. Across the full 9-year window we track, VYM has the edge at +10.32% annualized vs +1.21%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.7% compared with 5.6% for FCAL. 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 -14.8% for FCAL and -35.7% 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 0.38. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FCAL charges 0.49% per year while VYM charges 0.04%. On a $10,000 position that is $49 vs $4 annually, a gap of $45 per year that compounds over a long holding period. On income, FCAL currently yields 3.43% against 2.24% for VYM.
Holdings Overlap
We hold position weights for 164 holdings in FCAL and 603 in VYM, totalling 57.4% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 164 positions we hold weights for in FCAL and 603 in VYM, against full books of 280 and 613.
You are not choosing between two funds in isolation.
Whichever of FCAL 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, FCAL or VYM?
FCAL has an expense ratio of 0.49% while VYM charges 0.04%. VYM is the cheaper option, by $45 a year on a $10,000 investment.
Which performed better, FCAL or VYM?
Over the past year FCAL returned +3.24% vs +20.84% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (9 years), FCAL annualized +1.21% vs +10.32% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FCAL or VYM?
VYM has been the more volatile fund at 14.7% annualized versus 5.6% for FCAL. Worst drawdown: FCAL -14.8% vs VYM -35.7%.
Should I hold both FCAL and VYM?
FCAL and VYM have a monthly-return correlation of 0.38, 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, FCAL or VYM?
FCAL yields 3.43% while VYM yields 2.24%, so FCAL currently pays the higher dividend yield.
Is VYM better than FCAL?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.