Vanguard California Long-Term Tax-Exempt Bond is managed by diligent leaders through a sensible and risk-conscious investment process and benefits from ultralow fees. The strategy’s more-expensive Investor share class retains a Morningstar Analyst Rating of Silver, while its cheaper Admiral share class earns an upgrade to Gold.
Morningstar’s Fund Analysis VCITX
Will VCITX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VCITX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the VCITX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of VCITX’s parent organization’s priorities and whether they’re in line with investors’ interests.